As others have stated,, Stereo equipment is covered under your Homeowners policy with no special endorsement. To make sure read the sections of your policy entitled "special limits on covered property". This is where you will find limits on jewelry, firearms, etc. Stereo equipment will usually not be listed here.
I just moved and insurance
This is my first time trying to get some advice.
i just moved to a new house and a new state. I have to get new car and house insurance and it makes me think about my equipment. Do you have insurance for your systems? what and how did you do it?
My system is probably worth $20,000 new but it is not new …
Thanks.
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@elrod Sorry, wrong. Most policies have a full replacement cost endorsement for personal property. Most agents will add it routinely. Just ask to make sure you have it. As far as payment, most company’s will pay the actual cash value (used price) first. Once the item is actually replaced with a new replacement, the difference will be paid. This is the general procedure, but can vary from state to state. Bottom line, if you have the replacement cost endorsement, you get paid full replacement cost as long as you actually replace the item. If the item is no longer available, you can replace it with something of equal functionality. |
- 11 posts total