2. speakers
  3. 128541-94779

Resale value of new speakers

I had a house fire.  I lost a pair of excellent, Sound Lab speakers.  The insurance company has given me an allotment of 24,000 (replacement value) for another pair of speakers.  Given the fire, and current finances, I need that 24,000, but must first buy a new pair of speakers, and then sell them, to get the cash.  The insurance company will only reimburse what I pay out for a pair of speakers, up to 24,000, not give me the cash directly.  I plan to buy a pair, keep them in their original boxes, and then resell them.  My 2 questions are:
1. Where are the best places to post such an offer?
2. What speakers would you recommend, to purchase, that would bring in close to their original cost on resale?
Thanks!
casselsinthesky
Ag insider logo xs@2x
cleeds
5,644 posts
 
jperry0
For replacement cost insurance the insurance company will offer you a settlement amount, but will reimburse more (up to the cost of a new item) assuming you replace it. I have seen this happen.
That's exactly how replacement cost insurance works. I've seen it, too.
czarivey
5,676 posts
 
There's nothing wrong here.
Fire is bad thing.
Good thing there's insurance.
Insurance can pay to the possible profit of victim. What could be wrong?
To get an idea what speakers you want for profit, simply check statistics of sold speakers to get an idea what people mostly want at this price range.
I would also look for great sale deals on such items so you can be sure you sell them with minimal 'loss' to give even better and faster deal.

sbank's avatar
sbank
3,378 posts
 
OP just registered, first post. I smell a scammer phishing too. OP should name the insurance company if this is legit, because we will all want to avoid it. Cheers,
Spencer
kalali's avatar
kalali
1,977 posts
 
This is not that unusual but varies state by state as well as the insurance agreement. I think it's unfair to indict the OP for potentially legitimate question. How many of you know (or have read) exactly what are all the fine prints in your home insurance policies? I know I don't. All I know is the last time I had a car accident the insurance company would not write the check to me and would only pay the body shop directly.
jperry
2,430 posts
 
Sbank.

Spencer this is normal for most replacement cost insurance. If you have replacement cost coverage check your policy. My insurer is American Family. 

If if you have advice for the OP I am sure he would appreciate it.
More to discover