Tuesday, August 24, 2010
(I hope this will be my last post about my stupid break-in.)
While speaking to our insurance company, I discovered that our coverages were not quite what I thought they were. Even though we had a large amount of coverage set aside as "Personal Property", that coverage is limited in various categories. For example, we had a $2000 limit on all jewelry losses, a $200 limit on cash losses, etc. Some were more random than others (a $500 limit on tree and plant and shrubbery losses? Really?), but it was rather eye-opening to see what was specifically limited. I had largely thought that (1) we pay for replacement value, and (2) the amount we pay for is at least 4x greater than what we lost, therefore everything is covered.
Turns out I'm probably wrong.
So, I strongly suggest everyone request a copy of their renters/homeowners insurance policy, and determine what they're covered for. It may turn out to be well below the value of what can easily walk out of your house.
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