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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
ericsch
749 posts
 
I asked the OP if he was in the U.S., he didn't respond. I'll assume he is for my comment. If he has replacement cost coverage for personal property (and most people do), he is paid the actual cash value up front (essentially the used value or RC less depreciation)) . When the policyholder replaces the item, he is paid the difference between the ACV and the actual replacement cost. It's only replacement cost coverage if you replace it, otherwise you just get the ACV. End of story.

jnovak's avatar
jnovak
401 posts
 
Another option is to contact a third party adjuster. This can be a headache BUT, it won't cost you to talk to them. They intercede on your behalf. They also take 35% off the top. That sounds like highway robbery. I used one such company once and I received an additional $5000.00 beyond what my insurance company wanted to settle for. Talking to a lawyer wouldn't be a bad idea either.
ericsch
749 posts
 
Sorry jnovak, those are unnecessary expenses. If the OP really thinks he is getting screwed, he should file a complaint with the State Dept. of Insurance. It's free and they will make sure the Ins. Co is acting in good faith. Insurance companies are heavily regulated.
Eric
tom6897's avatar
tom6897
1,484 posts
 
agreed, Insurance companies will cut a check and could care less what you do with it! Option 2, buy a pair of speakers with a return policy. Bring them home, show receipt to the adjuster, get your money, return said speakers to the dealer.
nutmeg44
2 posts
 
A licensed public insurance adjuster will typically work for 10% or less of the total recovery. "Your" insurance company does not work for you. They work for their shareholders. You are the vessel through which they make profits. They will offer you the very least they think you will accept, not a penny more.
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