Originally Posted by sew4fun
Originally Posted by marknfran
Personal Property is the classification on our insurance policy that covers most of our stuff. We learned the hard way in July, 2009, when we were burglarized and had to make a detail listing of items stolen. We thought we were covered well, but no. I have a 1899 dresser in which they STOLE one of the drawers which had jewelry in it along with memorabilia. Trying to remember each item in that drawer was hard.....still come up with items that were there. However, of the $40,000 plus they stole, we were covered for only about $8,000 since there was a maximum for jewelry and cash without an attachment to the policy for a greater amount. Thank God they could not get into the safe. We now have surveillance cameras, videos and a nice large locking gate to our property. Contact your insurance agent and get additional coverage for your hobbies!!!! Two model engines they stole from my husbands RC flying hobby totaled over $1400. and we had replacement value coverage. He got them replaced.
We were robbed in May 2010 & found out that our policy covered $500 of fine jewelry. Well needless to say that might have covered 10% of what was taken. After this happened had a meeting with insurance agent & got things changed on the homeowners policy. Agent apologized for not reviewing our policy sooner & contacting us to go over things that we had. We now have an alarm system and a safe. Have also taken pictures of all our artwork, etc. And have additional coverage for them on our policy. Such a hard learning experience.
Good point here -- meet with your agent at least once a year. My good friend had an agent she hadn't seen in over 15 yrs. She had a pipe break when they were gone and had water damage. Turns out she didn't have insurance for replacement value. The one cupboard in her kitchen that was damaged was costed out at $39.00. The agent had her house and household items list to be replace AFTER depreciation! Her house is 35 yrs old.....needless to say....they had thousands of dollars worth of damage but only got something like $500.00!!!!!