bearisgray

Does one need a special rider on an insurance policy if one has $XXX or more in these items.

I don't even want to think about the replacement cost for what I have.

I know that jewelry has a rider. Maybe colle tions?

Stitchnripper

I would call the insurance agent and ask. Any of us "we" unless we are an agent in your state may not have the correct information.

Onebyone

We up the content amount in case of complete loss. If I had the high end sewing machine or LA I would insure those at replacement cost.

mkc

Check with your insurance agent (and be sure to have receipts proving initial cost), but most single high-value items do require riders, especially if you want full replacement coverage (vs. actual cash value, which is going to be the depreciated value as determined by the insurance company).

If you do any sewing for compensation whatsoever, including making craft items to sell at shows, you'll likely need business insurance to cover the machines. Once an item gets used to make things you sell, it's no longer considered a personal item and typically won't be covered by your homeowners' insurance.

1CharmShort

My insurance agent asked me to make a list and take pictures of special items like collectibles, rare or expensive items like the longarm, featherweight 222 etc, and even supplies and fabrics, electronics etc.- including approx valuations - that I wanted extra or specific coverage for. Makes it much easier to replace if necessary.

Remember that replacement values are market values for the most part, and most things -like fabrics- depreciate with age. He asked that this be done throughout the house....not just in my sewing room. He also asked for updates to this list if any changes occur - like sales of machines or using up supplies, etc.

He suggested going thru each room with the phone taking a video of everything, making it faster and easier to file a claim if you need to.

This isn't really necessary to get the coverage, but it sure can avoid a lot of headaches later

QuiltE

In my case ... my agent said that it would be covered under my general home policy. However, if there should be a loss, the total value could add up fast, considering everything in one's home and may not be enough to cover a everything lost. Thus, higher cost/value items (not just sewing stuff) are better named specifically, along with proof of cost/value. In essence, giving coverage over and beyond the general home policy value.

Also, important to discuss re different types of losses ... fire, flood, electrical, theft etc. ... and the coverage one would have.

Another thing to consider ... if you are taking your machine(s) away from home, whether travelling for holidays or to a sewing day(s) locally or at a distance, you may need insurance coverage specifically to cover machines, equipment and tools as your home policy may not cover these items once they are removed from the home.

Make sure that your agent understands the values of your machines, as s/he may have no clue how much today's machines can cost.

Like others have said, check with your agent re your specific policy.
Also, I have no idea about your USA vs. our Canadian insurance.

All that being said, it's always hard to find that fine line between being well-insured vs. being over-covered. Sometimes it's hard to weigh the value and importance of coverage at a higher level vs. being willing to take a bit more risk themselves. You need to have that "argument" with yourself as to what you are willing to pay and/or risk.

Honestly, it's a self-argument I have regularly regarding my own insurance.
I never feel I win, no matter which way I go!

mkc

This depends on your policy. Most use market (actual cash value). Higher end policies can have replacement cost coverage, meaning you have to replace the item, but the insurance company will pay the full cost (less deductible) for the same make/model or equivalent if that make/model is no longer available new.

Standard policies without full replacement coverage are often pennies on the dollar, especially for items more than 10 years old. That Bernina that cost you $10K 10 years ago will likely only get a few hundred if destroyed in a fire unless you have full replacement coverage and have documented that you bought it new.

cashs_mom

Be sure to take pics or videos of everything you have. Just because it's insured doesn't mean you will get paid for it unless you can prove you owned it. When I had break in at my house, I had to show that I had owned the jewelry that I was claiming was stolen. Now I go thru the whole house every year before hurricane season and take tons of pics of everything.

Lena1952

Having been through a fire where I lost EVERYTHING I owned, I can tell you those sewing machines were NOT a priority on my list. I was thankful my children and pets were not harmed.

aashley333

When dealing with Mom's insurance adjuster after total loss due to fire, we just sat and listed items without proof. He was very kind.