Question in Regards to Judges and Insurance

[Futurist]

First of all, am I posting this thread in the correct place? Indeed, I certainly hope that I am!

Anyway, though, here goes:

If an insurance contract ends up in court and the judge who is overseeing this case believes that the (total) payout specified in this insurance contract is excessive (for instance, a total payout of $1,000,000 for a broken vase which was only worth $1,000), could this judge impose a cap/limit on the (total) payout in this insurance contract?

Any thoughts on this?

Indeed, isn't the purpose of insurance to return a person to his/her previous financial state (as opposed to allowing a person to enrich himself/herself) in the event that he/she experiences a loss?

 

[DHK]

I'm not a P&C agent, nor do I play one on TV. However, someone has to do an appraisal of the item and determine it's value before it was destroyed for it to be eligible for claim. I would *think* that it's not about the aggregate claim, but ensuring that each item is accounted for properly.

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Of course, it is also subject to policy limits, itemized schedules of items covered, as well as no fraud having been committed.

 

[marindependent]

Honestly I dont understand the question.