Renter's Insurance

[ILoveMySeabee]

Ok we know for sure we are going to be getting it because we have a ton of expensive stuff. Actually we are buying it this week.

Should I go around and take serial numbers and take pictures of everything? Make a list of the movies we have? Take photos of the jewelry I have? What about the kids books? They are expensive to replace should I do that too?

I'm estimating it high just incase we acquire more things. I just want to be protected because like I said we have a ton of stuff and I do not want to be buying it back.

TIA!

[jlbecker]

i never took any pictures, just an inventory & estimate. they asked a lot of questions when i opened the account. jewelry was on a separate plan & they asked if the diamond was certified, etc.

[rosebud*]

you may want to for your own personal records so that you know what you have. after something happens you have a hard time remembering what all you had.
it also depends on your insurance company what they want from you.

[gunsgirl]

the thing with renters insurance is you will have a deductable from 250-500 dollars- in order to get anything reimbursed or replaced it will have to be higher than that.

so in order to replace a "book" it will have to cost 501.00..

to replace all the books the fair market value- meaning what it is worth at the time of the loss is what you get- NOT the Price you paid for it UNLESS it is considered priceless- an antique for instance.

and everytime you make a claim for something damaged or broken it could raise your rates.

also computers and Jewelry have thier own seperate policies you will have to pay for.

we have computer coverage- costs us 100 dollars a yr
jewelry coverage 60 dollars a yr
250,000 dollars HHG's policy that is 400 a yr

( we have homeowners insurance)

[rosebud*]

Originally Posted by gunsgirl to replace all the books the fair market value- meaning what it is worth at the time of the loss is what you get- NOT the Price you paid for it UNLESS it is considered priceless- an antique for instance.

not if you get full replacement value. which is what we have through USAA so we get what it would cost to replace at todays cost no depreciation.

[ILoveMySeabee]

Originally Posted by rosebud* not if you get full replacement value. which is what we have through USAA so we get what it would cost to replace at todays cost no depreciation.

That is what it is. Through progressive though because they are cheaper with our car insurance through them.

[Saigon]

I have a separate rider on my wedding rings. I took photos of them, have the appraisal letter and the serial number (apparently one of the diamonds is etched with a number?)

[amazinggrace]

We have USAA, I have the inventory from our last move, pictures and serial numbers of expensive things, and I update as we get new things. I also have a jewelry rider, with photos of all jewelry, and apprasial/reciepts as well.

[sailorsbaby]

You also need to walk through your house and think of what it would cost to replace everything if it was all destroyed. From your TV to your bath towels. I hadn't really thought about it in that way until my mom said something to me about it years ago. I was not carrying enough insurance for a total wipe out. I have a computer rider on my policy, my girlfriend has policies just for her art, it really depends on what you want/need. I keep copies of serial numbers anyway, I'm not sure if I've ever had to give them to my insurance company, but I know my husband made sure he called USAA to be sure his plasma was covered when he bought it. LOL

[Ambrocious]

I just gave them an estimate of value within my apartment...no pics or anything were taken...