@dhite71 I am currently checking with Lloyds of London as my Nationwide carrier cancelled my 22 commercial property fire/liability/earthquake insurance policies (no claims 18 years) last year and I have 9 months left after cancelling/non-renewal of my personal residence policies (28 years). My insurance went from $6800 in 2019 to $18,000 this year and Nationwide as 90% of the other major carriers have left or are leaving CA. I’m trying to get Chubb who insure my parents home 1 mile away. It depends on the number of policies an insurer is willing to write in a particular area to spread the risk. I do not live in a fire zone/area. Insurance problems were a nightmare for me from the 1980s-2000s. Now they have returned due to political malfunction in CA and insurers as well (State Farm just lost it’s rating to B, as a non-admitted carrier in CA and is pulling out now, cancelling 30,000 houses and 42,000 apartments).
Insurance for system
I have been trying to get theft coverage for my system without success. Between the electronics, cables and add ons I probably have around $100K invested in it. My broker suggested that she might be able to get coverage for some of the gear but not all of it. I know that there are specialty carriers for collectible cars but is anyone aware of insurers who specialize in coverage for what most carriers would consider luxury goods?
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I looked up the quote I got for my record collection. $30,000 value had an annual premium of $180. It is from American Collectors Insurance out of Cherry Hill, NJ. The premium scales consistently with the value you choose. It was likely $60 for every $10,000 of value. They will cover any type collectible item. In summary, your home insurance should cover your gear and these folks cover media. |
@dhite71 Thank you very much! I will contact them this week. |
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