Anyone have their system insured?


I was out of town over the weekend and during that time we were hit with some severe storms. Many neighborhoods were completely flooded with reports of nearly submerged basements. My system happens to be in my finished basement, which has never flooded or even leaked. However not being there to check still concerned me. Thankfully everything was ok when I returned.

For peace of mind, I was considering getting my system insured. Anyone else have their system insured? What is the best way to do so, as a rider to your homeowners policy?
dlwask

Showing 1 response by rich3549

Hi,

Your Homeowner's or Renter's policy insure your contents againt specific named perils and also with stated limits. Please look at your insurance declaration page or ask your agent about the perils and limits. Flood/ground water is not covered under Homeowner's or Renter's policies because it is not one of the named covered peril. Theft, fire, etc. are normally stated as a named peril-however, there is also the policy limits to deal with.

A Personal Articles Policy (PAP)is a specific policy you purchase to insure for any stated item (Stereo, jewelry, art work etc.)that has coverage that extends beyond the normal named perils and you can buy the amount of coverage that is suitable for your system. The policies are usually not too expensive and most of the major insurers sell PAPs.