- Oct 22, 2006
The best answer depends on each individual policy. Give your insurance company a call to get the details on your policy. It's a great idea to take photographs and keep reciepts when possible. You'll also want to ask if you have insurance coverage for present value or replacement value of your personal property. Present value will pay the bag's current value minus depreciation, which often is not very much $$. Replacement value will pay you what it would cost to go out and buy a bag to replace the one you lost, which may be more than you paid for it seeing as LV tends to increase their prices fairly consistently. Replacement value is often the better option and is typically not a lot more expensive premium.