Mighty Favog Posted October 9, 2012 Share Posted October 9, 2012 O.k., who of you have riders on your home owner's insurance for your systems? Is it for actual new preplacement cost or current market value? Is it just listed as personal property or specifically for your stereo/home theater system? And how much should I expect, say, $75k coverage be? I have other stuff that should be in there too; tools, etc. so should I just look into a $100k blanket rider? This would just be for things like fire, theft, handling damages and weather (storm) damage. Not for needed repairs from normal operations (i.e. - new laser pick-up for a DVD player). No, I haven't called my agent yet but I don't wan to tell him the wrong thing about what I want. Tanx!! Quote Link to comment Share on other sites More sharing options...
Brac Posted October 9, 2012 Share Posted October 9, 2012 One year when I was time to renew, I told them that the amount listed for contents was too low and the made and adjustment. Not sure if that was the way to do it, but I'm not interested in giving anyone a list of my belongings. Quote Link to comment Share on other sites More sharing options...
tigerwoodKhorns Posted October 9, 2012 Share Posted October 9, 2012 The major companies seem to have 80% of the value of the home for personal property. I checked and electronics and audio equipment were included with no limitations. They said "replacement value" but you know how that changes when something actually happens. Audiogon and ebay are available to help establish value. Quote Link to comment Share on other sites More sharing options...
jhoak Posted October 9, 2012 Share Posted October 9, 2012 Back when I had a fairly substantial system I asked my agent if I should get a rider for audio equipment. After chatting about it for a while it was determined that I had enough coverage for "contents" that no additional insurance was necessary. What he did suggest was a full inventory that included model number, serial number, aurchase price and pictures. Being able to fully document the loss will stop any arguments and speed up the claim payout. Of course this inventory needs to be kept somewhere other than at the house. Quote Link to comment Share on other sites More sharing options...
Brac Posted October 9, 2012 Share Posted October 9, 2012 Of course this inventory needs to be kept somewhere other than at the house.And up to date, knowing how often we all change equipment around. Quote Link to comment Share on other sites More sharing options...
Mighty Favog Posted October 9, 2012 Author Share Posted October 9, 2012 Of course this inventory needs to be kept somewhere other than at the house. And up to date, knowing how often we all change equipment around. That's why I was thinking about a blanket dollar amount so it would cover stuff up to $XX dollars. If I get anything that sends it above that total, yes, I'll have to let them know about it. Quote Link to comment Share on other sites More sharing options...
JJkizak Posted October 9, 2012 Share Posted October 9, 2012 When you get the additional rider make sure it is at least about $80,000.00 to cover everything as is in full. The 80k rider is standard and when I queried the insurance guy he said you do not need serial numbers or videos to prove anything but it does help if stolen. He said if it gets destroyed or stolen just go out and buy the new stuff that you want. Done deal. But your rider has to be enough to cover all the junk you have collected in the barn, garage, and house. About 10 years ago the average rider was about 78K . This includes mowers, garage tools, furniture, Hi-Fi, silverware, etc. JJK Quote Link to comment Share on other sites More sharing options...
Cal Blacksmith Posted October 15, 2012 Share Posted October 15, 2012 We have replacement value of current price on our contents. We made the decision more than 20 years ago so I can't tell you how much it changed the policy but we just had a pipe break, flooded out nearly all the rooms. They paid 100% current market price for replacement. I was lucky and did not have any electronics damaged but all my floors including over 30 year old carpet was replaced at todays rates. I love Farmers insurance. We have all our insurance through them. Never a problem with payment of a claim and the people are nice to talk to also. YMMV Quote Link to comment Share on other sites More sharing options...
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