2. misc-audio
  3. 1085416950

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
rushton's avatar
rushton
2,445 posts
 
If you have a homeowner's policy (versus renter's policy), contents in most states are insured at a percentage of the coverage value of the house: typically less than 100%. Most insurance companies are willing to increase the percentage of coverage (up to 100%) at a far lower cost than a special rider for the audio system. Whenever I've looked at special rider coverage for either the audio system or the record collection, the premium has been astronomical.
pmotz
409 posts
 
Driver has it right. I would add that in the case of flooding you will probably need separate flood insurance if you don't already have it. I don't think it matters what the source of the water is; no flood insurance, no claim.
tireguy
1,964 posts
 
My system is insured, I wouldn't even imagine of not having it insured. Its fairly cheap and no matter what happens I am covered and theres no price that can be put on that feeling of security. I have a real good relationship with my agent so we went with a company he trusted the most. Most folks I know are VERY happy with CHUBB for this sort of thing, fair premiums and excellent service/coverage.
emster
75 posts
 
I agree with Tireguy. Chubb does a very good job with esoteric assets and collections of all types. You can itemize your system, photograph it and value it at replacement and if you are unlucky, they are very good at replacement. The more it is worth, the cheaper the investment in insurance.
ozfly
887 posts
 
Thanks for the post - I never even thought about a separate insurance policy. Well, that can certainly pay for those Audiogon annual fees ;-)
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