REFLECTOR:Homeowner's Policy

[lawrence epstein]

I have state farm with a rider to cover the increased value of the "project" 
(I believe I have it listed as 50k)
LJE


>From: "Dale W. Thomas" <dthomas@web2e.com>
>Reply-To: reflector@tvbf.org
>To: <reflector@tvbf.org>
>Subject: Re: REFLECTOR:Homeowner's Policy
>Date: Wed, 21 Jan 2004 15:46:58 -0500 (EST)
>
>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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