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<p>[QUOTE=&quot;-jeffB, post: 8508584, member: 27832&quot;]I&#039;m curious how this plays out in practice, because policies are usually written based on an estimated value <i>at the time the policy is written</i>, with premiums set on that basis.</p><p><br /></p><p>What if I insured a 1921 Peace dollar based on a value of $300 (in 2019 or 2020), then sustained a loss in 2021 when it was closer to an $800 coin? Replacing it would cost $800, but the insurance company would&#039;ve been collecting premiums based on $300.</p><p><br /></p><p>Insurance companies are betting that <i>you won&#039;t sustain a loss</i>, and now we&#039;re adding a gamble that <i>the insured item&#039;s value won&#039;t drastically increase</i>. I guess that&#039;s all just part of the equation -- until a year or two ago, nobody would&#039;ve imagined the price of a five-year-old <i>used car</i> spiking, either, but here we are.[/QUOTE]</p><p><br /></p>

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