Originally Posted by
rjwilder
We recently changed insurance companies, the new agent is a quilter. I mentioned my machines and all the stuff in my sewing room. She said the personal property replacement cost is something most homeowners don't pay much attention to. Therefore they are underinsured for all their belongings including sewing machines, other hobby equipment like golf clubs and don't put enough value on furniture and clothing. It was an eye opener, we are involved in a lot of sports and they are require expensive equipment, footwear, clothing, etc. We never even thought about all my husbands tools and and all the other "man" toys in the garage. It was an eye opening meeting, we took an inventory and were shocked at all the stuff we have.
It sounds like your new agent is really good. I have a friend who does estate appraisals. She has taught me a lot about insurance and having a photographic/video inventory. It's very important because no matter how much your house contents are insured for, you have to prove you had that much in the home in order for the insurance to pay off. I'll also agree that most people are underinsured. On their houses and the liability limits on their vehicles. At the price of cars today, $50,000 doesn't pay for that much if you have an accident.