How do you prove what you lost?

Can you remember everything you owned, where you got it and what it cost?  Those are some of the questions you'll need to answer if you want to take advantage of your insurance policy's Replacement Cost for your personal property.

After a loss, most insurance companies will give you a check that covers the Actual Cash Value (aka: depreciated value) of your personal property (couches, TV, clothes, etc...)  In order to get the full replacement cost you have to re-buy the stuff.  However, many companies want to have some idea of what was in your home before you replace an Ikea couch with something from Ethan Allen.

It's a good idea to take pictures of your home.  Get a snapshot or two of each room and then put the images somewhere safe OUTSIDE OF YOUR HOME.  It's a whole lot easier to prove what you had (and what you didn't, i.e. original Picasso) and it should only take you a matter of minutes.

Contact us for more good ideas that aren't that exciting, but really do make sense.

Insurance a must in the dorms

If you're counting on your parents insuranc to cover you in your dorm, or in your apartment at school, it may not cover everything you think.  Small property claims (i.e. stolen/misplaced laptop) aren't really covered because most of the time they won't be more than the deductible your parents carry on their house.

Read this article for more information.

Insurance a must in the dorms

There are also niche programs that offer what you need.  Like this one:
https://www.gallagherkoster.com/students/student-personal-property/

My apartment is ruined. Now what?

What happens after there is a covered loss at your apartment?  Half of your stuff is undamaged, but the landlord says you can't live in the building while the damage is being fixed.  What happens next?

If you have renters insurance then you're probably in luck, there is coverage for the extra expenses you incur after a loss.  On most policies it's called "Loss of Use".

Condo Insurance FAQ

Across the broad spectrum of personal insurance policies and quotes you'll find homeowners on one end and renters on the other. Somewhere in themiddle is condo owners insurance.  You're responsible for more than just your contents, but for less than you would be if you owned a single family home.

There are a lot of ins and outs, so we'll tackle the most common questions and differences here.

Take Action! after a water loss

We get dozens of calls a year from people with water problems...water in the basement, sump pump failures, leaky roof, damp walls, etc.....  There are a few action steps that people should take immediately to minimize the damage.  We are going to detail some of the most important first steps on this blog that should help you and minimize your insurance loss.

Moving Apartments? Are you covered?

Most people don't stay in the same apartment year after year, so there is always going to be issues with moving.  Do I rent a truck?  Do I pay a couple of guys with a pickup truck?  Do I volunteer my friends to help me move and pay them with pizza and beer? (Insert Seinfeld reference here.)

Are your belongings and your liability covered when you're either in-between apartments or occupying more than one?  The answer here, as it is with most insurance questions, depends on the circumstances.  We'll cover a couple of those after the jump.

Protecting Against Water Damage

A lot of questions about water damage come into my mailbox, so I thought I would address a one of the most common. What is the difference between Flood and Sewer/Water Backup? One of them can be included in your policy and one has to be purchased separately.

After the jump we'll examine each one and let you know how to tailor your insurance policy to suit your needs.

Affordable vs. Coverage

A question was posed about the desire to save money, but also have adequate coverage on personal property and belongings.  I have lots of thoughts, and some of them are actually relevant to this topic, I hope.

The balancing act between a quote that includes the coverage you need at the affordability you want is always there.  It comes down to choices like; what deductible can you afford should a loss happen? and what amount of insurance will allow me to rebuy everything that I'll need going forward?