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No.4

The value of DIY

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This is an interesting question. First you need photos of all invoices for material, a write up of you labour and why you took certain approaches and I’d keep some eBay or amazon adds for items you’d consider “similar “, that’s the tricky part for sure. Some of Arek’s work maybe relative to your fine efforts? If you needed to claim at least then you have some documentation as a starter? 

 

More qualified people than me, who have seen your work on this forum could offer their thoughts, but I think some comparisons to commercial gear would go a long way to an adjuster. And there in lies the problem. If you get an answer please share it. My efforts are minuscule, but I should be documenting some of my work too.

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22 hours ago, No.4 said:

The time has come to have my annual meeting with my insurance agent. I have my home owners and all of our vehicles with the same company as the savings are significant. During this meeting the request to catalog the contents of our home will undoubtedly come up. Assigning a value to these contents for the most part is fairly straight forward as most are common consumer goods.

I've been working on my home owners insurance this week so this is a timely subject.  As far as I know, you can have whatever value you want assigned to the contents of your house.  The higher the value, the higher the premium.

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53 minutes ago, CECAA850 said:

I've been working on my home owners insurance this week so this is a timely subject.  As far as I know, you can have whatever value you want assigned to the contents of your house.  The higher the value, the higher the premium.

You just have to justify it if something happens and pay for it if nothing does! 

 

I have to do the same.

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You add up the cost of the parts and then triple the price. Or, cost of parts plus $40 an hour for labor.

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On 9/13/2019 at 7:43 PM, Deang said:

You add up the cost of the parts and then triple the price. Or, cost of parts plus $40 an hour for labor.

 

That's what I'd do.  At least use the $/hr you get at your day job.  Another angle would be the price of the closest commercial product, new, since you likely have a replacement cost policy. 

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When dealing with insurance for personal property I found that I just had to show an existing equivalent and give a good argument.  An example was a custom built computer with high end parts (for the day) that I put together a couple years earlier.  I had to find the closest equivalent I could buy outright and get their "tech" guy to agree it was a fair replacement.  

I think you will lose if arguing price of materials plus your labor but coverage can differ.  When it comes to replacing my kitchen cabinets that I BUILT they would only pay for materials for me to do it myself but they would pay a cabinet shop full price.   

Good luck.  

 

Edit:  Get a quote from a cabinet shop to build your cabinets!  Or electronics tech to build your project.   Insurance should accept that plus the parts I would think.

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