Basement flood damaged y gear

Insurance companies will always treat you poorly. The only exception is life insurance, dead is dead. If you have high end equipment it is always best to schedule those items in a separate rider, replacement cost, to the main policy and have the supporting receipts for their value made part of the rider. All systems that are installed in a basement should have flood insurance as part of their protection, especially if the value is in excess of $10,000.

Girish,

It will depend on your policy if you have current value or replacement. In other words, your policy will likely dictate what's what. If you got your gear from a local HiFi shop, I suggest contacting them. They can provide the certified letter you'll need on model and purchase value, etc. and what replacement would cost.

Just do some homework on the specifics of the policy and go from there.

My policy clearly states replacement costs of belongings up to one million.But insurance company conveniently forgot to pay any attention to the adjusters remarks and pictures about the audio equipment and sent me a check! When I called them they said they overlooked that and will reopen the claim and refer it to an internal adjuster.