Wednesday, June 03, 2009

Underinsured

I called my auto insurance company to adjust my policy, and they mentioned a 10% discount for renters' insurance. I was interested, so I talked to the guy about it, and found out I'd actually save $60 a year by signing up for $25k in coverage. Cool!

I talked with him a bit more to get some details, and it turned out the coverage covered certain amounts for certain types of items. Computers are covered to $3k (not a problem unless you have more than one Mac! ZING!), and firearms are covered to a max of $1k.

Whoops.

Considering just one of my ARs has a market value of 1500 right now, I would say that it would be a bit underinsured.

I'll still get it for the electronic equipment (and the $60, of course), but I wonder if being unable to cover firearms like that is usual...
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3 comments:

Ry Jones said...

My company has a $45,000 declared value rider for firearms for $30 a year or so. I have to provide serials and pictures to make a claim, but I have those.

My entire policy is $200 a year, which isn't bad.

6/3/09, 5:51 PM
NotClauswitz said...

I believe my State Farm agent covers my firearms for $X amount that I tell them to cover - no pictures or SN#'s required.

6/4/09, 10:32 AM
Ry Jones said...

I don't have to provide serials and pictures to buy insurance, I have to provide them to make a claim.

State Farm isn't going to buy "I had a million in guns, lost them in a boating accident, need new ones; no, I don't have pictures, serial numbers, or receipts"

:)

6/4/09, 10:35 AM

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