Here is a link to an excellent article about the benefits of obtaining extra insurance coverage in North Carolina. The article starts with a funny story that I am inserting here:
Dennis Rogers tells the story of a Charlotte attorney who insured a box of expensive cigars, smoked them, then filed a claim for the loss of the cigars by fire.
He won the subsequent court case and was awarded $15,000.
But the insurance company countered by having authorities arrest the attorney on 24 counts of arson. The attorney lost that criminal case and received 24 months in jail and a $24,000 fine.
So goes the world of insurance.