REFLECTOR:Homeowner's Policy
Greg Poole
reflector@tvbf.org
Thu, 22 Jan 2004 08:10:57 +1100
Down here, all we do is specify the extra items we want noted (artworks,
jewellery, furniture and furnishing & hobby stuff) with the additional
values and it simply gets added onto the contents part of my home coverage -
effectively at the same rate.
Greg in Sydney.
----- Original Message -----
From: "Dale W. Thomas" <dthomas@web2e.com>
To: <reflector@tvbf.org>
Sent: Thursday, January 22, 2004 7:46 AM
Subject: Re: REFLECTOR:Homeowner's Policy
> Its been years since I sold insurance, but as I understand it you may be
> covered and at the same time not.
>
> Typically, the contents of your house are covered (Coverage B) for an
> amount equal to 10% of the dwelling (Coverage A), and that is adequate for
> most people. Putting some numbers on it, if your house is worth and
> insured for $200,000, that would give you $20,000 insurance on your
> furniture, golf clubs, bowling balls, etc. For most people, that is more
> than enough. But for those who collect fine art or rare coins, the
> $20,000 would probably not be enough to cover the actual value of those
> collections. Thus you could technically be 'covered', but you would not
> be able to recover the true value of the loss.
>
> My guess is that the value of that unfinished airplane in your garage
> would exceed the value of your Coverage B limits. In that case, you
> should talk to your carrier about buying a separate 'rider' to cover the
> value of the plane or coin collection or art or whatever else you may have
> of excessive value. I'm not sure if it is possible to raise your Coverage
> B limits without a separate rider, but it might be a question worth
> asking.
>
> Dale Thomas
>
>
> > Larry,
> >
> > Wow! You're the first. We're you able to get them to put that in
> > writing. My agent was honest enough to say that I might get someone to
> > say that I was covered, but there would be a very high probability that
> > I would get the rejection on the claim.
> >
> > Andy
> >
> > -----Original Message-----
> > From: reflector-admin@tvbf.org [mailto:reflector-admin@tvbf.org] On
> > Behalf Of lawrence epstein
> > Sent: Wednesday, January 21, 2004 2:55 PM
> > To: reflector@tvbf.org
> > Subject: RE: REFLECTOR:Builder's Insurance
> >
> >
> > I am not quite sure why you would need to insure this as an "aircraft"
> > before it is signed off.
> >
> > I have my project in my Garage (wings out back!). I am covered by my
> > homeowners policy & have verified this a number of times.
> >
> > Larry Epstein
> >
> >
> >
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