Insurance for Rams

[Grams]

I recently moved from Harris County (inside the loop in the Heights) to Brazoria County (south of Pearland) and our insurance did not change. That being said, we pay through the nose. My wife has a 2025 Mercedes GLC 300, I have a 2024 Frontier, and our daughter (turns 25 in November) has a 2022 Mini Cooper Clubman S. We have full coverage, $500 deductible, rental reimbursement, uninsured/underinsured, $100k/$300k coverage on all 3. 1 Ticket between the 3 of us in the last 7 years, we pay $3200/6 months. It is ridiculous. All 3 of them are within $100 of each other. We checked multiple carriers to try to switch it out, but my wife had 2 no-fault accidents within a year (one with an illegal with no insurance in a truck that hadnt been registered in 6 years) and one in a parking garage that the girl disputed and it is still pending (3 years ago). No one would offer coverage because of the pending claim. And the guy with no insurance and truck with 6 year old expired tags was written a ticket and sent back on the road in the same truck by HPD.

Harris to Brazoria isn’t much change in Risk, and that which DOES change is higher risk to flooding-damage, …so I’m not surprised your premiums didn’t change.

I moved out of Travis county into Burnet county 30 years ago and the auto premiums dropped significantly.

 

[Curmudgeon]

……..

……So… You actually PAID for insurance…You did not use. That is the most expensive “insurance” you’ll ever own.

I’ve had TWO flooding events in the last 8 years… one from a roof which blew off in a rainstorm…and another two years later when a pipe burst.

The damages were $300K and $120K …. on a house insured for $500.

My premiums went up also…. and I consider that reasonable… because the 80-yr old house was improved with more modern materials in the repairs and therefore requires a new appraisal so the ins-co can consider their Risk.

Our premiums went from $3200/yr to $3800/yr. So what.

I’m always a bit puzzled when people carry insurance they never make a claim on for fear of a small-percent increase in premiums.

Either I failed to convey my point, or...

When I paid out-of-pocket I knew up front the total price and some level of control over the amount. I would have had no control over the premium increase, I was only assured it would happen, and said increase would at least cover the amount the insurance company had to pay. I had this precise conversation with my insurer, in great and exact detail, so I knew the facts.

Additionally I would have a claim on my record which could adversely effect my attempts to shop around later, unless I waited a long time.

The claim wasn't that large, I wasn't rebuilding my house. I don't "nickle-and-dime" the insurance company, never have. My premiums are very low, maybe there is correlation there, maybe even a causal relationship?

Since you mentioned dollar values on your experiences (sorry to hear of your misfortune, hope all turned out well in the end) my out-of-pocket was less than $2,000 USD. I was warned my premiums would increase to cover at least that.

In my situation I did my due diligence and I know I chose wisely. If I were in your situation I would have done just as you did. Not remotely the same experiences though and perhaps we would both have acted much the same if the situations were reversed, don't you think?

 

[turkeybird56]

Harris to Brazoria isn’t much change in Risk, and that which DOES change is higher risk to flooding-damage, …so I’m not surprised your premiums didn’t change.

I moved out of Travis county into Burnet county 30 years ago and the auto premiums dropped significantly.

They did the switcheroo last year on Home Insurance (middle of texas). My property valued 190K by county, now to rebuild Insurance Company says $317K. House face is natural TX Stone so U know stupid expensive. NE Way, they went to TX PUC and got permission to increase catastrophic out of pocket expense from 1% to 2% and dropped my premium by 1K for the year., This year of course, premium went up. Can neva get off that roller coaster. U can go w/o insurance, but I swear, the moment U try that route "Murphy's Law:" get you. Just quick pic to show you house exterior.



My truck $200 a month but I am maxed out on everything as far as coverages to include 500K extra, and $250 deductible. If I was to raise some stuff and lower some, would drop but rather pay a bit more for coverage than drop and get screwed if sumthin happens.

 

[stormcom]

My insurance carrier reminded me that I had been with them for 48 years. I'm tired of my rates slowly creeping up, so for the first time I visited a local independant insurance agent who represents many companies. The result was zero polices with my old carrier and three carriers covering my truck, home, and umbrella policies. My 2025 RAM 1500 went from $720 for 6 months with a mileage cap of 2,000 miles a year to $451 for 6 months and a mileage cap of 12,000 for a year. I saved a lot on my home insurance also with the umbrella being about the same. Lesson learned, shop around at least once a year.

Have to be careful. New home policies are 2% deductible and older policies are 1%. You have to check to see what form you are on. Cheaper rates may not be equal to the form you used to have. Same thing with cars and replacement costs.

 

[turkeybird56]

Have to be careful. New home policies are 2% deductible and older policies are 1%. You have to check to see what form you are on. Cheaper rates may not be equal to the form you used to have. Same thing with cars and replacement costs.

Most of the home insurers all raising to 2%. Mine did last year and no choice. Accept or get cancelled and I been with same company since 1994. The companies r getting killed with all the disasters so tho not happy do get it.

 

[Tulecreeper]

Seeing folks here posting about having various "incidents" involving their vehicles, incidents that probably help to account for relatively high insurance premiums.

I remember calling my homeowners insurance co. years ago about water damage from a bad pipe, the kind of thing we were covered for. During the initial phone conversation I asked if our rates would go up, and how much. Well, the amount of the increase and the duration would add up to the amount of the claim.
I said, "So this isn't 'insurance', it's a loan." They hemmed and hawwed but would not deny my point. So I paid out of pocket for the damage, making sure the contractor knew I was paying out of pocket and please keep the bill reasonable.
And my premiums were not effected.

My life lesson - auto/home coverage is NOT what I consider 'insurance' it is a guaranteed loan in the event I ever needed it. I have medical insurance, and neither my out-of-pocket nor my premium nor my coverage change/increase when I have a claim. Not ever. That's what I call insurance.

I get that my thoughts reflect an apples/oranges comparison, just my $0.02.

Here ends today's sermon from your uncle curmudgeon.

We had a water damage claim in 2014 that required replacing 2/3 of the flooring in the house. Came to ~$7000 with a $1000 deductible. Our insurance paid off promptly and the premiums never went up.

 

[Grams]

Either I failed to convey my point, or...

When I paid out-of-pocket I knew up front the total price and some level of control over the amount. I would have had no control over the premium increase, I was only assured it would happen, and said increase would at least cover the amount the insurance company had to pay. I had this precise conversation with my insurer, in great and exact detail, so I knew the facts.

Additionally I would have a claim on my record which could adversely effect my attempts to shop around later, unless I waited a long time.

The claim wasn't that large, I wasn't rebuilding my house. I don't "nickle-and-dime" the insurance company, never have. My premiums are very low, maybe there is correlation there, maybe even a causal relationship?

Since you mentioned dollar values on your experiences (sorry to hear of your misfortune, hope all turned out well in the end) my out-of-pocket was less than $2,000 USD. I was warned my premiums would increase to cover at least that.

In my situation I did my due diligence and I know I chose wisely. If I were in your situation I would have done just as you did. Not remotely the same experiences though and perhaps we would both have acted much the same if the situations were reversed, don't you think?

I hope not to come-across as “argumentative” or criticizing of your decision… as it truly is Your Choice to make and only You can make that decision.

However, ..If it were me, and if I were told by my agent or underwriter that a claim made by me would result in the claim-amount being the basis for an increased premium in that claim amount…. It would be my cognizance that in actual fact I had ZERO insurance in the beginning.
Explanation: If I buy insurance, the point is to spread the Risk over the Population of the Insureds. Therefore, a claim of $2K resulting in an Increase of Premium of $2K, by definition, means there was Never Any Insurance whatsoever. I was merely giving money-away in a poorly-established “bet” that I’d not likely suffer any loss… and no refund to me if I made no claim.

I would happily make you the same offer: Send me $2K and I will insure you against any loss….and additionally charge you whatever value that loss might be to cover my expense.
In fact, I’ll even save you the trouble of filling out any paperwork… Pay for the repair of your OWN losses Directly…. Then send me an equal amount for continued coverage…. or don’t …. and say good-bye to the $2K you’ve already sent me.

If you don’t view that transaction the same way I do…. so be it.
Kind regards either way.

 

[Grams]

They did the switcheroo last year on Home Insurance (middle of texas). My property valued 190K by county, now to rebuild Insurance Company says $317K. House face is natural TX Stone so U know stupid expensive. NE Way, they went to TX PUC and got permission to increase catastrophic out of pocket expense from 1% to 2% and dropped my premium by 1K for the year., This year of course, premium went up. Can neva get off that roller coaster. U can go w/o insurance, but I swear, the moment U try that route "Murphy's Law:" get you. Just quick pic to show you house exterior.

View attachment 569928

My truck $200 a month but I am maxed out on everything as far as coverages to include 500K extra, and $250 deductible. If I was to raise some stuff and lower some, would drop but rather pay a bit more for coverage than drop and get screwed if sumthin happens.

That is very interesting…as My House…also is constructed of “chopped Limestone” with virtually the same appearance as yours.
When I complained (15 yrs ago) to my State Farm agent about their failing to remove the “cosmetic damage” coverage from my roof…. that agent leapt to the position they’d have to come out and “re-appraise” my 50 yr-old hunting-lodge-residence…. as they were absolutely Certain the “replacement/rebuild” costs were likely Much Higher than they had been underwriting.
This SO PIZZED me off…that I changed to a Different State Farm Agent… who had no problems whatsoever of insuring the house without such shennanigans.
It was subsequent to that agent-change that both of my losses occurred, and only a very small increase (attributable entirely to cost-of-living increases) has occurred to my premiums. (albeit, I have rec’d a warning-note from SF and a Third water-damage claim by me might result in substantial increase.)

footnote:
I see your signature Ronald Reagan quote, and I’ll add that he spoke correctly about another matter also: When he ran for office in ‘80 he promised to create a Million New Jobs his first year…. And he certainly DID.

Those jobs were in So. Korea, Japan, and China.

(while large U.S. corporations began FTC-approved mass-mergers further reducing American employment numbers.)

 

[Curmudgeon]

I hope not to come-across as “argumentative” or criticizing of your decision… as it truly is Your Choice to make and only You can make that decision.

However, ..If it were me, and if I were told by my agent or underwriter that a claim made by me would result in the claim-amount being the basis for an increased premium in that claim amount…. It would be my cognizance that in actual fact I had ZERO insurance in the beginning.
Explanation: If I buy insurance, the point is to spread the Risk over the Population of the Insureds. Therefore, a claim of $2K resulting in an Increase of Premium of $2K, by definition, means there was Never Any Insurance whatsoever. I was merely giving money-away in a poorly-established “bet” that I’d not likely suffer any loss… and no refund to me if I made no claim.

I would happily make you the same offer: Send me $2K and I will insure you against any loss….and additionally charge you whatever value that loss might be to cover my expense.
In fact, I’ll even save you the trouble of filling out any paperwork… Pay for the repair of your OWN losses Directly…. Then send me an equal amount for continued coverage…. or don’t …. and say good-bye to the $2K you’ve already sent me.

If you don’t view that transaction the same way I do…. so be it.
Kind regards either way.

OK, now I think we agree, and your post explains the reason why I am no longer with that insurance company. The only thing I liked about that exchange was their up-front and honest answer. I think I was able to make the best decision for me, at the time, and then later when I found new (and better) insurance before the policy renewed.

 

[turkeybird56]

That is very interesting…as My House…also is constructed of “chopped Limestone” with virtually the same appearance as yours.
When I complained (15 yrs ago) to my State Farm agent about their failing to remove the “cosmetic damage” coverage from my roof…. that agent leapt to the position they’d have to come out and “re-appraise” my 50 yr-old hunting-lodge-residence…. as they were absolutely Certain the “replacement/rebuild” costs were likely Much Higher than they had been underwriting.
This SO PIZZED me off…that I changed to a Different State Farm Agent… who had no problems whatsoever of insuring the house without such shennanigans.
It was subsequent to that agent-change that both of my losses occurred, and only a very small increase (attributable entirely to cost-of-living increases) has occurred to my premiums. (albeit, I have rec’d a warning-note from SF and a Third water-damage claim by me might result in substantial increase.)

footnote:
I see your signature Ronald Reagan quote, and I’ll add that he spoke correctly about another matter also: When he ran for office in ‘80 he promised to create a Million New Jobs his first year…. And he certainly DID.

Those jobs were in So. Korea, Japan, and China.

(while large U.S. corporations began FTC-approved mass-mergers further reducing American employment numbers.)

My walls are not chopped limestone, they are actual TX rock. When the installed my new windows, they had to hard chisel out some of the rock faces and outcroppings around the frame for windows to fit the new frames in. Before I replaced my roof, on the house that had been up there 30 years, before I bought the place, the "insurance" guy came out and went all over the roof for 2 hours, noting damage, imperfections etc etc, YET in his report he NOTED no damage insurable to be covered. So I ate the entire cost of a new replacement metal roof. The new roof did help a lil with the premiums for a couple of years. "Get" nuthin for new replaced winders, but they R fully covered under my insurance.

When I added whole house Genny system, I pushed to insure it was covered under my home policy, and they initially said no. But I was like, ahem, it is not a structure but an actual "appliance/fixture" attached to the house electrically so under their own insurance descriptors, they had to cover. But of course, my house insurance got hit with an immediate $240 increase for the year, and I had just paid the yearly premium a month before. THE games they play. What kills me now is the insurance company states 317K to restore me whole god forbid something happens. Sure happy the county not use that figure.

OF COURSE U know the property tax game in TX, where legally they can increase your appraisal 10% every year and U have no recourse. NE thing over 10% goes to voters. SO of course every year, my house appraisal goes up 10% within, get this $.50 if you do the math. Gotta luv it. Good thing I am frozen now by exemptions. Now I get no break if they lower the appraisal, I am locked in period. ADDED: Now U can try and fight the appraisal. But all the work is on your end. NOT many appraisals are lowered around here. When I moved in after PCS from Germany, land was $500 an acre. Now land depending, is from 10K - 20K an acre, go figure.

Should be interesting to see what happens this year, lol.

DA BOIRD

 

[Grams]

My walls are not chopped limestone, they are actual TX rock. When the installed my new windows, they had to hard chisel out some of the rock faces and outcroppings around the frame for windows to fit the new frames in. Before I replaced my roof, on the house that had been up there 30 years, before I bought the place, the "insurance" guy came out and went all over the roof for 2 hours, noting damage, imperfections etc etc, YET in his report he NOTED no damage insurable to be covered. So I ate the entire cost of a new replacement metal roof. The new roof did help a lil with the premiums for a couple of years. "Get" nuthin for new replaced winders, but they R fully covered under my insurance.

When I added whole house Genny system, I pushed to insure it was covered under my home policy, and they initially said no. But I was like, ahem, it is not a structure but an actual "appliance/fixture" attached to the house electrically so under their own insurance descriptors, they had to cover. But of course, my house insurance got hit with an immediate $240 increase for the year, and I had just paid the yearly premium a month before. THE games they play. What kills me now is the insurance company states 317K to restore me whole god forbid something happens. Sure happy the county not use that figure.

OF COURSE U know the property tax game in TX, where legally they can increase your appraisal 10% every year and U have no recourse. NE thing over 10% goes to voters. SO of course every year, my house appraisal goes up 10% within, get this $.50 if you do the math. Gotta luv it. Good thing I am frozen now by exemptions. Now I get no break if they lower the appraisal, I am locked in period.

Should be interesting to see what happens this year, lol.

DA BOIRD

The “chopped rock/limestone” is the term masons use to describe the particular pattern both yours and my house have. Our houses are the same construction externally. (Don’t know about the supporting structure of yours. Mine was constructed in 1952 as a corporate hunting lodge out here west end of Lake Travis… Rock exterior walls with T&G interior walls/floors, “ship-lapped? structure between. They just aren’t made like this any longer.)

 

[turkeybird56]

The “chopped rock/limestone” is the term masons use to describe the particular pattern both yours and my house have. Our houses are the same construction externally. (Don’t know about the supporting structure of yours. Mine was constructed in 1952 as a corporate hunting lodge out here west end of Lake Travis… Rock exterior walls with T&G interior walls/floors, “ship-lapped? structure between. They just aren’t made like this any longer.)

Wooden framed interior, just not sure on all the locations, etc.,. I can tell you: In living room, I had to run a 75 Ohm cable out the side of the house to the OTA antenna. From inside, open up drop ceiling, then force cable to an opening on top of a window opening frame, whole arm past the elbow to get to outside, and that was not even all the way, 1/2 of the upper window frame still to go. Dropped a hole down to get the cable outside, so I honestly not sure on what is between the interior walls, and final of exterior, besides obvious. This place was built 1986 per tax records. (my bad, did not know that descriptor was applicable in both circumstances).

We replaced all the flooring in this house like around 2005. Have Dupont Elite flooring in all floorspace except for tiled living room. Me thinks U not want to know the cost of that flooring, and it was years ago. Ripped out EVERY dang piece of carpet and also pulled ALL the wallpaper off of every wall. Momma and I went crazy. We even rebuilt the kitchen in 2001.

 

[DanAR]

Seeing folks here posting about having various "incidents" involving their vehicles, incidents that probably help to account for relatively high insurance premiums.

I remember calling my homeowners insurance co. years ago about water damage from a bad pipe, the kind of thing we were covered for. During the initial phone conversation I asked if our rates would go up, and how much. Well, the amount of the increase and the duration would add up to the amount of the claim.
I said, "So this isn't 'insurance', it's a loan." They hemmed and hawwed but would not deny my point. So I paid out of pocket for the damage, making sure the contractor knew I was paying out of pocket and please keep the bill reasonable.
And my premiums were not effected.

My life lesson - auto/home coverage is NOT what I consider 'insurance' it is a guaranteed loan in the event I ever needed it. I have medical insurance, and neither my out-of-pocket nor my premium nor my coverage change/increase when I have a claim. Not ever. That's what I call insurance.

I get that my thoughts reflect an apples/oranges comparison, just my $0.02.

Here ends today's sermon from your uncle curmudgeon.

I think this is a good point and one reason a high deductible makes sense providing you have cash reserves to cover it fine. I figure my insurance is for catastrophic incidents and not relatively minor stuff. But relatively minor is in the mind (and financial status) of the insured and not the same for everybody.

 

[turkeybird56]

I think this is a good point and one reason a high deductible makes sense providing you have cash reserves to cover it fine.

I carry a $250 deductible on both my RAM and Honda Wing Trike, so that not help either with having the highest coverage and uninsured also on both vehicles. I also carry an addendum for my trailer attached to the truck policy. Now in TX, anything attached covered by that vehicle insurance but only liability so I have addendum to cover trailer fully. Having these low deductibles does cost, but vehicle repair here with the amount of also under/uninsured PPL is crazy.
(The bennies of living in TX, rural).

Deductibles:
Comprehensive: $100
Collision: $250

1 Farm/Utility Trailer 2006 Ww
Comprehensive: $250
Collision: $250

 

[turkeybird56]

Seeing folks here posting about having various "incidents" involving their vehicles, incidents that probably help to account for relatively high insurance premiums.

I remember calling my homeowners insurance co. years ago about water damage from a bad pipe, the kind of thing we were covered for. During the initial phone conversation I asked if our rates would go up, and how much. Well, the amount of the increase and the duration would add up to the amount of the claim.
I said, "So this isn't 'insurance', it's a loan." They hemmed and hawwed but would not deny my point. So I paid out of pocket for the damage, making sure the contractor knew I was paying out of pocket and please keep the bill reasonable.
And my premiums were not effected.

My life lesson - auto/home coverage is NOT what I consider 'insurance' it is a guaranteed loan in the event I ever needed it. I have medical insurance, and neither my out-of-pocket nor my premium nor my coverage change/increase when I have a claim. Not ever. That's what I call insurance.

I get that my thoughts reflect an apples/oranges comparison, just my $0.02.

Here ends today's sermon from your uncle curmudgeon.

Insurance vs Guaranteed Loan........... Interesting perspective.

One thing for sure, regardless how you label, call it, refer to it, "stupid" expensive. I guess I could go down to just minimum on stuff, but than "Murphy" gonna find my address, and the results would be devastating.

 

[Grams]

When it comes to homeowners insurance….there’s a process in most policies which I believe most insured do not understand.

If you have, for example, a burst pipe that floods your game room… and water-soaks your expensive firearms collection (or other rare items…such as art, or documents, etc etc)….. the insurance settlement will consider the number of years you have owned those items…..and DEDUCT from their claimed value DEPRECIATION…. and that Depreciated Value is what they will pay you.
True example (this is an exact instance which occurred to me):
The water damaged many things…but I’ll address only a few.
I had two “mint” early-mfr Winchester 1894 rifles in .30-30 caliber valued at $2K each for a total loss (of only those two rifles….forget the rest of the collection)…a total loss of $4K
Here’s how the ins. co. arrived at the loss:
I obtained estimates of repair to each of $150 to refinish the wood stocks of the two rifles = $300.
Three gun dealers offered estimates of LOSS of VALUE (LOV—due to those antiques no longer being original after their restorationl) LOV =$2K.
But insurance would ONLY PAY me the $300 for wood-repair. No payment for LOV….. I would have to take it or leave it.
I got so frustrated with them that I would not receive proper reimbursement for my losses (the gun collection was only a small portion of the total losses)… but I refused to give-up…and harassed and hounded and was about to give-up…. when the adjuster finally gave-in and informed me that…… I could purchase replacements equalling $4K for both…and it didn’t matter to them if the replacements were not the exact-same model.

Wha…??

Since those rifles are no longer made (in the pre-‘64 design…they are now only “copies” using inferior mat’ls and techniques) …it is Impossible to replace them with “equals”.
BUT….. this is the CRAZY PART….. Insurance told me I could go buy TWO more NEW WINCHESTERS of total value $4K….and they would reimburse me for those purchases….they don’t care if they are even the same exact model, as long as they are “Similar”….and I WOULD KEEP the damaged/repaired rifles As Well.

REAllY..?? I asked? Yes, was the answer. ( I made them email that to me so I’d have a “record” before I spent the money on all the necessary replacement items.)

So, after having my original rifles repaired to look proper again…. (and getting paid the $300 for those repairs)….I went to the gun dealer and Ordered Two New Winchester 1895 lever actions …which were not available but would be built on special order in .30-06 caliber…. and mailed the $4K receipt to the Ins Co. ($2K each for those not-yet-existing rifles.)
Insurance mailed me a check for the $4k…. I still have my repaired 1894 rifles…and six-months later, …now have Two Custom Win 1895’s, brand-new, fresh from the factory.

That is also how the ins. co. handled the other items water-damaged, such as out-of-print Books, One-of-a-Kind Oil Paintings (artist now-deceased…so I must find “some other” art I might like to own if I want full-reimbursements…otherwise I must accept only payment for restoration of the existing artwork).

No WONDER insurance is so damned expensive! (But I doubt many folks realize that’s how their claims will be “settled’…..they’ll probably “shrug” and accept some minor payment for “restoration/repair” and let it go at that..and the ins co will get off cheap.

Remember not to be surprised when they “Depreciate” the damaged items you thought you’d paid to be insured. You will be offered payment ONLY for the “Depreciated” value of them…. You must find “full-value” replacements if you want full-value settlement of your damages.

At least, that’s how MY underwriter handled it. (and they didn’t volunteer to inform me of those details…..I had to keep after them to get the full settlement.)

addendum: There doubtless will be someone who will point out that you can “itemize” articles for “insured-value” prior to any loss. However, that is unlikely in the case of most homeowners….the the costs of independent appraisals and premiums for those items can quickly become astronomical.
How, for instance, do you value that personal letter of commendations your Grand-Dad received from President Wilson? Or an original copy of a deed issued by a long-deceased foreign monarch? ***
Just sayin’…

Hope this helps.

*** Did you ever wonder how…and why…that Television show “Antiques Roadshow” makes their money? The individuals who bring items in are on a few lucky/isolated people who may/may-not own something valuable…. BUT, the actual Appraisers and Underwriters are who benefit from the exposure of what that old Lamp was worth…. and it is hoped that owner will subsequently insure the item.

 

[turkeybird56]

When it comes to homeowners insurance….there’s a process in most policies which I believe most insured do not understand.

If you have, for example, a burst pipe that floods your game room… and water-soaks your expensive firearms collection (or other rare items…such as art, or documents, etc etc)….. the insurance settlement will consider the number of years you have owned those items…..and DEDUCT from their claimed value DEPRECIATION…. and that Depreciated Value is what they will pay you.
True example (this is an exact instance which occurred to me):
The water damaged many things…but I’ll address only a few.
I had two “mint” early-mfr Winchester 1894 rifles in .30-30 caliber valued at $2K each for a total loss (of only those two rifles….forget the rest of the collection)…a total loss of $4K
Here’s how the ins. co. arrived at the loss:
I obtained estimates of repair to each of $150 to refinish the wood stocks of the two rifles = $300.
Three gun dealers offered estimates of LOSS of VALUE (LOV—due to those antiques no longer being original after their restorationl) LOV =$2K.
But insurance would ONLY PAY me the $300 for wood-repair. No payment for LOV….. I would have to take it or leave it.
I got so frustrated with them that I would not receive proper reimbursement for my losses (the gun collection was only a small portion of the total losses)… but I refused to give-up…and harassed and hounded and was about to give-up…. when the adjuster finally gave-in and informed me that…… I could purchase replacements equalling $4K for both…and it didn’t matter to them if the replacements were not the exact-same model.

Wha…??

Since those rifles are no longer made (in the pre-‘64 design…they are now only “copies” using inferior mat’ls and techniques) …it is Impossible to replace them with “equals”.
BUT….. this is the CRAZY PART….. Insurance told me I could go buy TWO more NEW WINCHESTERS of total value $4K….and they would reimburse me for those purchases….they don’t care if they are even the same exact model, as long as they are “Similar”….and I WOULD KEEP the damaged/repaired rifles As Well.

REAllY..?? I asked? Yes, was the answer. ( I made them email that to me so I’d have a “record” before I spent the money on all the necessary replacement items.)

So, after having my original rifles repaired to look proper again…. (and getting paid the $300 for those repairs)….I went to the gun dealer and Ordered Two New Winchester 1895 lever actions …which were not available but would be built on special order in .30-06 caliber…. and mailed the $4K receipt to the Ins Co. ($2K each for those not-yet-existing rifles.)
Insurance mailed me a check for the $4k…. I still have my repaired 1894 rifles…and six-months later, …now have Two Custom Win 1895’s, brand-new, fresh from the factory.

That is also how the ins. co. handled the other items water-damaged, such as out-of-print Books, One-of-a-Kind Oil Paintings (artist now-deceased…so I must find “some other” art I might like to own if I want full-reimbursements…otherwise I must accept only payment for restoration of the existing artwork).

No WONDER insurance is so damned expensive! (But I doubt many folks realize that’s how their claims will be “settled’…..they’ll probably “shrug” and accept some minor payment for “restoration/repair” and let it go at that..and the ins co will get off cheap.

Remember not to be surprised when they “Depreciate” the damaged items you thought you’d paid to be insured. You will be offered payment ONLY for the “Depreciated” value of them…. You must find “full-value” replacements if you want full-value settlement of your damages.

At least, that’s how MY underwriter handled it. (and they didn’t volunteer to inform me of those details…..I had to keep after them to get the full settlement.)

addendum: There doubtless will be someone who will point out that you can “itemize” articles for “insured-value” prior to any loss. However, that is unlikely in the case of most homeowners….the the costs of independent appraisals and premiums for those items can quickly become astronomical.
How, for instance, do you value that personal letter of commendations your Grand-Dad received from President Wilson? Or an original copy of a deed issued by a long-deceased foreign monarch?
Just sayin’…

Hope this helps.

Interesting. Must ppl mention have listed amount in valuables but the hoops to jump through is insane. I have a cd with pictures and also saved on line of every high value item to include serial numbers but just have to hope all stays well. I am not worried about water here the problem is wind. Ie.. tornado/hurricane issues.
@Grams Great post on information may help someone uninformed.

 

[Grams]

Having photographs of your valuables is helpful… but not “proof” of ownership.
I kept hundreds of pounds of waterlogged, and moldy books for almost two years…before the adjuster FINALLY agreed to come look at the trailer-load….
After only a short glance….(he didn’t want to get near and breathe that mold either)…. he finally gave approval for me to have them hauled-away to the landfill.
I still did not receive what I believed they were fully worth. (I had cut-out the Title Pages of each of them and dried/preserved the pages in order to prove their provenance. However, I could not locate many of them available for re-sale…and therefore received only “depreciated” vqlue.
Example: A signed, addressed to my Father, copy of Eddie Rickenbacker’s Autobiography. It was totally destroyed hardbound and a solid “block” of paper. Insurance claimed it was worth $175, based upon what they could find copies of the book on-line, … Then depreciated for 30 years of ownership, so they paid me $28 for it.
A personal letter of friendship from Gen. Jimmy Doolittle, thanking me for an enjoyable lunch-meeting: Cannot be opened or read due to water damage: They paid me: $5 (five dollars). They said that was what the stationery and old postage stamp was worth…. and advised me I should have kept it in a bank-vault if I really thought it was worth anything. (They had no response to my question, “What if the bank flooded?”)

Insurance is over-rated and will never give you your life back. It will only help you get the stuff to the landfill. Don’t assume that the insurance you’ve bought is actually any “surety”. The memories are all that you will keep.

 

[jimonqa]

Why would you decline to have uninsured/underinsured coverage? Do you not know that if you were to get in a wreck with a person who only had state minimum coverage or no insurance coverage you could/would be screwed royal by not having that coverage?

Such a scam... still protected by liability and PIP insurance.

 

[jimonqa]

Such a scam... still protected by liability and PIP insurance.

You've got me researching UM/UIM coverage again. I remembered turning down PIP, so I am at risk for a passenger. Thanks for the wakeup... I'll contact my agent and discuss coverage limits that fit under my Umbrella policy.