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Totally TWISTED posted:TN. Photography. I think that we mainly need to insure the equipment/props against theft/damage/loss with a low deductible. Possibly pick up a small liability policy of some sort incase anyone sues? I haven't tallied it up but currently sub-10K in assets, being able to grow the coverage amount without shifting companies would be nice though. Liberty Mutual will do a good job on this type of exposure. There should be a local independent that could provide you with a quote. Where I am located in OH something like this wouldn't be super expensive...there is little risk involved with this type of occupation. The only major thing is to make sure and provide very detailed lists of your equipment so they can be itemized and replaced if broken or stolen. Wickerman posted:Huh, that's interesting. A buddy of mine got broken into and had jewelry and guns stolen. He only had a few pictures of the jewelry but almost none of the guns. He had all the serial numbers for them though. His renters policy only covered the items that he had pictures of, so I feel like what you're saying is incongruent with my friends' experience. And that is the difference between a good company and a bad one. There should really be no reason not to replace things up to the limits of the policy on Actual Cash Value until the person ACTUALLY replaces the item. If they gave your friend $100 for a gun and he doesn't go replace it for the $350 and show them a receipt then he is SOL. Insurance is to return you to a position you were in prior to the loss...not put you into a better standing. Also, keep in mind Jewelry and Guns have limits on 90% of policies...so if he had a $500 limit and that was met they stop paying out.
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Jan 14, 2015 14:43
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OssiansFolly posted:Liberty Mutual will do a good job on this type of exposure. There should be a local independent that could provide you with a quote. Where I am located in OH something like this wouldn't be super expensive...there is little risk involved with this type of occupation. The only major thing is to make sure and provide very detailed lists of your equipment so they can be itemized and replaced if broken or stolen. Yeah, you have limits on the amount you can file for unscheduled personal property in certain categories, guns and jewelry(watches and furs are lumped in too) among them. You can endorse for more coverage than the initial limit, which is frequently only a few hundred to one thousand dollars by category. With an HO4 especially though a lot of agents don't put in the effort to talk about that option, and it is a make or break part of the claims experience.
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Jan 14, 2015 15:47
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NeurosisHead posted:Yeah, you have limits on the amount you can file for unscheduled personal property in certain categories, guns and jewelry(watches and furs are lumped in too) among them. You can endorse for more coverage than the initial limit, which is frequently only a few hundred to one thousand dollars by category. With an HO4 especially though a lot of agents don't put in the effort to talk about that option, and it is a make or break part of the claims experience. Yea when he said he had "renters" I figured he reached his policy limits and that is why they didn't pay out for everything. Especially Firearms on an HO4...Jewelry should be $1500/$2500 limits, but guns was more than likely a $500 or less limit. It sucks, but this is why you NEED a good agent. If you can't call and talk to your agent, ask him questions, and meet him in person then you should really think twice about buying the coverage. Your agent should be someone that you can trust to find you a place to live in the event you find yourself homeless!
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Jan 14, 2015 16:40
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OssiansFolly posted:Yea when he said he had "renters" I figured he reached his policy limits and that is why they didn't pay out for everything. Especially Firearms on an HO4...Jewelry should be $1500/$2500 limits, but guns was more than likely a $500 or less limit. It sucks, but this is why you NEED a good agent. If you can't call and talk to your agent, ask him questions, and meet him in person then you should really think twice about buying the coverage. Your agent should be someone that you can trust to find you a place to live in the event you find yourself homeless!
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Jan 14, 2015 16:50
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SiGmA_X posted:You're making me wonder what the 30k of personal property coverage (that I pay nothing for over 10k!) actually covers! That's probably a good thing and I should ask my agent... You absolutely should. Policy forms are very broad strokes, with a lot of limits by default on types of personal property and how much you can claim for them without endorsements. The upside is that the cost of increasing those limits is pretty minimal on a dollar for dollar basis
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Jan 14, 2015 17:00
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NeurosisHead posted:You absolutely should. Policy forms are very broad strokes, with a lot of limits by default on types of personal property and how much you can claim for them without endorsements. The upside is that the cost of increasing those limits is pretty minimal on a dollar for dollar basis I'm going to shoot my agent an email! (Yes they're local and we've chatted on the phone before. I prefer email over phone, then no one questions what was stated!)
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Jan 14, 2015 17:08
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SiGmA_X posted:You're making me wonder what the 30k of personal property coverage (that I pay nothing for over 10k!) actually covers! That's probably a good thing and I should ask my agent... The 30k in personal property covers ALL of your stuff. BUT, there COULD be limits on certain things. Examples of limits are typically Silver and Gold, Jewelry, Cash, Guns, Computers and Art/Collectibles. If you have a larger amount of items in those classifications then you should absolutely speak with your agent about itemizing those on an Inland Marine or Personal Articles policy. For example, I have a lot of computer equipment, some jewelry and some guns (both real and airsoft) that I have "scheduled" or itemized on my renters policy. For all of those items to be covered with no deductible and in a broader form it costs me an extra $188/year OR in terms of selling something $15/month or $.50/day.
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Jan 14, 2015 17:09
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Jastiger posted:I've had that too if the customer absolutely demands it be scheduled and are willing to provide appraisals and pay the premium....then it's a go for us. Sentimental items are important to people. Of course call back the client... "we need appraisals? can't they just google what it's worth?" Guess who's keeping their Chubb policy.
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Jan 14, 2015 17:09
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Jimmy James posted:So is accounting for personal property that isn't scheduled on the honor system? You could say that you had X pairs of Jordans, and Y copies of Game of Thrones and you get reimbursed for it? We had a guy a few years back whose garage burned down. He tried to claim an original vinyl signed Michael Jackson thriller album for $25,000. DENIED Few weeks back I had a guy who sold his Rolex on craigslist. The purchaser gave him a cashier's check that turned out to be forged and made off with his watch. His lawyer told him to claim it on his homeowners. Though I've seen some strange stuff that I didn't quite understand. I had an old man in his 90s who came to us because he was being non-renewed for claims. Run the CLUE and he's got two "mysterious disappearance" claims for $5000 each. He didn't recall them, but upon asking his wife he told us she lost her hearing aides, twice within 1 year, and claimed them both times. He brought a copy of his policy and they weren't scheduled and he wasn't in any fancy endorsement packages, so I was surprised to see that paid out. Twice. I was under the impression mysterious disappearance could only apply to scheduled stuff.
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Jan 14, 2015 17:21
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dMastri posted:Spoke with 3 underwriters today at different companies and they all said this was regular personal property but if these folks want to jump through the hoops of providing appraisals they'd be willing to schedule most of the high value stuff. Yea...Chubb is a great company...if you have a high end home/autos. (We offer Chubb in our agency too) If the customer REALLY wants it there is a company that does stand alone collectibles insurance. Haven't really written with them, but if you want to look into the company and possibly write for them here is the link.
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Jan 14, 2015 17:21
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Yeah Chubb's not competitively priced and their replacement costs are way inflated but they do a good job at making rich people feel good. They also don't have a dog list so we use them sometimes for folks with pitbulls or other ineligible breeds. Sure the price is about 2x to 3x higher than it should be but you get the liability that's impossible to find elsewhere.
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Jan 14, 2015 17:25
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dMastri posted:Yeah Chubb's not competitively priced and their replacement costs are way inflated but they do a good job at making rich people feel good. They are also the ONLY company we have in our agency that offers Replacement Cost on CARS. You don't get that anywhere else.
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Jan 14, 2015 17:35
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SiGmA_X posted:Realistically, is a photo inventory of the stuff good enough? I have ~1500 in camera gear, 3k maybe in electronics (couple computers and a TV, 2 <$100 reallllly basic audio systems), a ton of books (~$10-20+ a book and 6 36" shelves).... And clothes, which cost more than the above listed stuff, but we have very few receipts for any of them as its a collection from the last 15yrs. I have receipts for all my recent suit purchases, but my gf's clothes are far more valuable and have no receipts due to age and/or gifts. Camera's specifically have a limit for unscheduled personal property, it's typically about $1000 but it varies by state and company. Some states also have limits for computers, but not generally other electronics. Have your agent go over your policy form with you to be sure, but I'd consider just expanding the limits for your unscheduled camera coverage at that dollar value. If you have individual components worth more than $500 or so I'd schedule them on the policy - then they're specifically annotated, and can be covered not subject to your deductible on a claim (or put an inland marine policy on them, depending on what state you're in).
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Jan 14, 2015 17:44
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NeurosisHead posted:Camera's specifically have a limit for unscheduled personal property, it's typically about $1000 but it varies by state and company. Some states also have limits for computers, but not generally other electronics. Have your agent go over your policy form with you to be sure, but I'd consider just expanding the limits for your unscheduled camera coverage at that dollar value. If you have individual components worth more than $500 or so I'd schedule them on the policy - then they're specifically annotated, and can be covered not subject to your deductible on a claim (or put an inland marine policy on them, depending on what state you're in). I shot an email asking for limits on what we've been discussing. I'll work on compiling a list (and photos) of the electronics and some of the clothing over the next few weeks, it should be minimal effort. My complex has never had a fire in its 50yrs but you never know when that would change!
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Jan 14, 2015 18:00
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SiGmA_X posted:State is Oregon. Discuss scheduling those items. If you ask the agent for an estimate on how much it would cost to schedule the cameras they should give it to you. Specifically the cameras because those are most likely the items that will be leaving the home on a semi-regular basis. You really shouldn't worry about fire...as an agent fire is the last thing we think will happen. It is much more likely that it will be stolen, broken, or damage due to water.
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Jan 14, 2015 18:03
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OssiansFolly posted:Yea when he said he had "renters" I figured he reached his policy limits and that is why they didn't pay out for everything. Especially Firearms on an HO4...Jewelry should be $1500/$2500 limits, but guns was more than likely a $500 or less limit. It sucks, but this is why you NEED a good agent. If you can't call and talk to your agent, ask him questions, and meet him in person then you should really think twice about buying the coverage. Your agent should be someone that you can trust to find you a place to live in the event you find yourself homeless! No, you need an agent that works in an inbound center in the Midwest. call Jastiger for Aaaaallll your insurance needs! (OssiansFolly is mostly correct here) NeurosisHead posted:Of course it's another Nationwide person running a thread like this. In the center in Iowa right now. A lot of good information regarding the risks here, I don't feel there is much need to add. I will say, or rather repeat, that on a renters, the company is generally willing to just pay out the limits on the personal property on those. You are paying for $40K in stuff, they'll pay out $40K. If you want stuff specific, whatever, if its under the $40K they'll pay it. The trouble is, as the examples here have shown, that when you want $40K for your stuff and a specific item replaced at replacement value. That is when its incumbent upon the insured to get the appraisals and pay the extra premium for the scheduled item. Like the other poster said, its mostly an honor system since they're on the hook for the insured amount anyways.
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Jan 14, 2015 18:11
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Are you direct or exclusive, Jastiger?
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OssiansFolly posted:Yea...Chubb is a great company...if you have a high end home/autos. (We offer Chubb in our agency too) I asked earlier about my coin collection, and in searching for more info about that I found out about Hugh Wood insurance : http://www.hughwood.com/index.php They can do all kinds of high end collectibles and fine art, and it turns out I know a couple people that use it. If you live in a safe area and have your items well protected (security system, safes, etc), then rates can be a fraction of what you would pay scheduling specific items with a conventional home insurance company. I work in the chemical/petrochemical industry, and Chubb is a big name for loss prevention and they have a great reputation. I looked into using them for my house, but I did not meet their lower limits of property values. I forget exactly, but it was either 400k or 600k. Jimmy James fucked around with this message at 18:17 on Jan 14, 2015 |
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Jan 14, 2015 18:14
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Jastiger posted:No, you need an agent that works in an inbound center in the Midwest. call Jastiger for Aaaaallll your insurance needs! (OssiansFolly is mostly correct here) I work out of DSM, as a trainer for Nationwide Academy. Small world man.
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Jan 14, 2015 18:16
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So, I'm not an agent or anything, but I do work with insurance companies on claims. The four most common things I've seen insurance companies get sued over: 1. Jewelry 2. Cash 3. Tools/Equipment 4. Guns I've seen several claims get denied because they claim $40,000 in tools that they have no receipts for or evidence that they ever existed ("bought them all on Craigslist for cash" sort of thing). I've also seen them get denied because people were using them to run a business with them, and homeowners insurance will not cover equipment used for a commercial business as a rule (there's probably some sort of "hobbiest" rule; check your policy). The best thing to insure that everything you have gets covered is to produce a receipt for everything. Assuming you live in the real world, though, the lowest-effort way to help make sure you'll be able to get your claim accepted is to do a video every year of everything in and around your house that you'd want to get paid for. Now, if your wife has a closet full of outfits, you don't have to pull each and every outfit out of the closet; just show the closet, and pull some of the more expensive ones as a sample. And narrate the video; talk about everything you're getting visuals for. Give the make and model of each of the guns in your safe. Now is a really good time to do this, since it's the start of the new year, and right after Christmas. Take the video and upload it to a cloud service (Dropbox, Google Drive, etc.). Then, put it on your calendar to do it again next January (or every six months if you want to be even more thorough). Don't delete the videos ever; if you put in a claim and the insurance company is like "oh, so you just happen to have this video from last month; that's awfully suspicious," you can just produce your videos from previous years, show that you've been doing it as a matter of course. And if you've got a truck that you keep a bunch of tools in, get those tools on video, too, especially if you've been buying them used off of Craigslist with cash. Thieves love to steal that poo poo.
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Jan 14, 2015 18:20
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NeurosisHead posted:I work out of DSM, as a trainer for Nationwide Academy. Small world man. Then I shake my fist at you as I am banished to the basement of NSS in the 1200 building. I applied for an Underwriting School to move into Underwriting so we'll see how it goes. What do you train?
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Jan 14, 2015 18:39
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Jastiger posted:Then I shake my fist at you as I am banished to the basement of NSS in the 1200 building. I applied for an Underwriting School to move into Underwriting so we'll see how it goes. What do you train? Personal Lines, Commercial, and Life for the direct channel, business leadership and agency management for the exclusive channel.
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Jan 14, 2015 19:23
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Thanatosian posted:So, I'm not an agent or anything, but I do work with insurance companies on claims. And thieves love to sell poo poo...for cash...on Craigslist... This is all good info and exactly what I'd expect to see when it comes to angry customers. Also keep in mind that major stores like Sears, Best Buy, etc. will keep purchase records for like 3 years if you make the purchase with a credit card. Credit card companies also keep purchase records for things done at major stores for up to 5 years (depending on the card). So, even if you don't like credit...buy things with plastic cards (debit) because it can help you keep record of purchases.
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Jan 14, 2015 19:28
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NeurosisHead posted:Personal Lines, Commercial, and Life for the direct channel, business leadership and agency management for the exclusive channel. I probably know who you are then, and don't know it. Well, work just got a lot more creepy.
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Jan 14, 2015 20:22
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OssiansFolly posted:And thieves love to sell poo poo...for cash...on Craigslist... I suspect that I've purchased stolen goods on craigslist on multiple occasions.
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Jan 14, 2015 20:43
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Jimmy James posted:I suspect that I've purchased stolen goods on craigslist on multiple occasions. Yea...I'm fairly certain lots of people have. After working in insurance this is why I make people who sell me things for cash sign a paper receipt of sale. I learned long ago that those little pieces of paper can mean the difference between jail time, or credible witness.
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Jan 14, 2015 20:49
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Jimmy James posted:I looked into using them for my house, but I did not meet their lower limits of property values. I forget exactly, but it was either 400k or 600k.
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Jan 14, 2015 22:25
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dMastri posted:Did you call Chubb direct or try going to a local agency or try getting them through one of their affiliations with another carrier? I've seen them have different thresholds depending on how you access them, i.e. with a directly appointed agency vs sub brokered through a middleman vs whatever their agreement looks like with affiliated carrier I called two local agencies, and they gave me similar answers. At that point I didn't pursue it further because there are plenty of other fish in the sea. From what I could gather, Chubb doesn't sell those types of policies directly.
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Jan 14, 2015 22:44
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Jastiger posted:My company Nationwide is generally competitive with that stuff. You can also hit an independent and see about an allied policy too. Just make sure it has good liability limits and replacement cost for the camera. If you use a specific vehicle or have employees make sure you're on top of that too. I'll check them out. No specific vehicle, it will just be low mileage trips in the personal vehicle if at all. No employees. NeurosisHead posted:What's the dollar value on your cameras and equipment, and is your business incorporated? Macbook Pro ~$2500 Canon EOS 60D ~$1000 Multiple Lenses ~$2000 (more of a guess than the other numbers for the moment) Flashes, Tripod, Triggers ~$750 Props ~$500 Currently a sole proprietorship. OssiansFolly posted:Liberty Mutual will do a good job on this type of exposure. There should be a local independent that could provide you with a quote. Where I am located in OH something like this wouldn't be super expensive...there is little risk involved with this type of occupation. The only major thing is to make sure and provide very detailed lists of your equipment so they can be itemized and replaced if broken or stolen.
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Jan 15, 2015 01:20
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NeurosisHead posted:Personal Lines, Commercial, and Life for the direct channel, business leadership and agency management for the exclusive channel. The more I think about this, the more it bugs me. Who ARE you?
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Jan 15, 2015 03:41
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Thanatosian posted:
I deal with the occasional theft claim and if someone ever provided me with this, I would be amazed. The best I ever get are a few receipts, maybe a picture or two. People all have different experiences in what gets paid on a claim and what does not. They have to realize, it can vary greatly from company to company, policy to policy and your specific adjuster. I usually give the person the benefit of the doubt on most items, if the situation and stolen items seems normal. Even if they don't show proof of ownership, I will usually cut them some slack and pay out on it. But there are a million red flags that will stop me in my tracks and make them provide more info. If you want to get the most out of me, just be cool and don't get greedy.
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Jan 15, 2015 04:04
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Jastiger posted:The more I think about this, the more it bugs me. Who ARE you? At the risk of getting internet detectived, my shortname is saxtons1.
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Jan 15, 2015 04:47
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So last year I was injured by livestock while hanging out with some friends. Kicked by a horse actually. I went to the emergency room, had some bruised/cracked ribs, got over it. Now I have a letter from my insurer with both their masthead and one from a company called The Rawlings Company LLC sending me a questionnaire and making vague threats if I don't respond to them. Do I have to? It looks like they're attempting to see if they can make somebody else pay for the hospital visit. My personal stance is I don't feel I should do an insurance companies work for them, but I know that the law may not agree with me there. The internet is a bit unclear on this as well.
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Jan 22, 2015 06:14
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Zeitgueist posted:So last year I was injured by livestock while hanging out with some friends. Kicked by a horse actually. Well, what does the questionairre say? If its from YOUR insurance company, you're going to want to consider it, because if you don't...well they could deny you or drop you. What kinds of threats? What specifically is it asking? How long ago was the actual treatment? How much did you pay out of pocket?
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Jan 22, 2015 06:17
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Jastiger posted:Well, what does the questionairre say? If its from YOUR insurance company, you're going to want to consider it, because if you don't...well they could deny you or drop you. I merely paid the ER copay, which was like $100 under my insurance, and yes it was my insurance company through my job. They didn't make any threats, they said they want more information and "further action may be necessary" if I don't give it to them. It was 6mos ago and it just wants to know where I was, what I was doing. I had to call the insurance company about a billing issue previously(my # changed at roughly the time the claim was made). The return address says "subrogation department". My concern is they'll try and go after the owner of the horse, who believe me does NOT have the money, she's a single mom.
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Jan 22, 2015 06:20
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My money says your insurer is wanting to subrogate against someone else, and is well within their rights to do so. If someone else's horse kicked you it's their responsibility to take care of you provided you didn't somehow cause the kick through your own negligence. e: yep, subro. Fill it out honestly, send it back. Provided it wasn't your own negligence they'll want their paid expenses covered by whatever liability the animal owner carried at the time.
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Jan 22, 2015 06:22
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Or lie and say that you provoked the horse, protecting your friend. But honestly if your friend can afford the horse she should be able to afford homeowners insurance which can/typically includes medical liability coverage for peeps injured on your property.
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Jan 22, 2015 06:55
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Wickerman posted:Or lie and say that you provoked the horse, protecting your friend. But honestly if your friend can afford the horse she should be able to afford homeowners insurance which can/typically includes medical liability coverage for peeps injured on your property. Don't do this. Tell the truth. And yup, Subrogation, I'd cooperate with em to make sure the claim is handled properly. Good luck!
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Jan 22, 2015 07:58
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There is almost certainly a clause in your insurance allowing them to deny you coverage if you don't cooperate with their investigation. There certainly is in every policy I've ever seen. And yeah, it's a bad idea to lie to your insurance company. Also a bad idea to own a horse while not having sufficient insurance to cover it. Also a bad idea to own a horse while apparently being a financially insolvent single mom, but who am I to judge?
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Jan 22, 2015 09:34
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Thanatosian posted:There is almost certainly a clause in your insurance allowing them to deny you coverage if you don't cooperate with their investigation. There certainly is in every policy I've ever seen. If you're the underwriter for whoever carries the lady's P&C or Farm policy you're basically the perfect person to judge
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Jan 23, 2015 00:39
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I've received a job offer from a former teacher of mine who owns a business under Allstate, and he's looking to have me come in as an insurance sales agent. Now, I've never done sales outside of, like, heating and air conditioning protection plans, and I'm not too familiar with insurance policies as it is, what should I know before considering his proposition? Is this something that anyone would consider as a good job, or is it kind of a crapshoot as far as making any money goes?
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Jan 24, 2015 21:59
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