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Meaning the insurance premium will be higher? I mean if X keeps it, Y insures it, then X loses it, Y still has to pay up, so you're covered. The only difference
by H8crilA 7y ago
Meaning the insurance premium will be higher? I mean if X keeps it, Y insures it, then X loses it, Y still has to pay up, so you're covered. The only difference between X=Y or X!=Y could be in the premium that Y commands.
- Thorrez 7y agoYeah, I would expect the premium to be higher if the insurer knows there's not much incentive for the bank to protect the item. Also I consider a loss and insurance payout to be worse than no loss and no payout. Because it's a hassle to do the paperwork and rebuy items. And there might be sentimental items that a payout doesn't fully replace. So it's best to have a system that reduces the chance of a loss.
- 7952 7y agoAnd in all likelihood the insurance will be provided by another company and sold by a different department.