Homeowners insurance: get familiar with your policy now before something bad happens

[Fredkrueger100]

Collectibles includes basically ALL related items too. Belts, holsters, cases, ammo, etc., I think even the safe and even when you are traveling. That stuff adds up so figure it all in.

I had a $300 claim on a competition belt and holster setup that got stolen. They didn't bat an eye on covering it. Until it was time to renew that is, then they didn't want to renew my policy for the next year. Jason got ahold of them and explained that it was he himself that encouraged me to make the claim in the first place. They reviewed it and ended up renewing it. I asked him why they were canceling and he said it was that the claim was "too far below the written policy amount". Insurance is a really strange business.

It’s a racket that’s what it is. Just like drug companies. I have a good policy but I will definitely have to look at it.

 

[gmar]

Flood insurance is not what you think sometimes.
Now days everybody needs it I think.
A show on tv was going through a segment about flood insurance and they said;
If a limb falls thru your roof most policies will pay for the roof repair. But not the water damage inside.
That is now considered flood damage!
If a pipe breaks and floods your house your out of luck unless you have flood insurance.
So, you can live on the highest mountain in Ok. and still need flood insurance.
Check and understand your policy.

I work in auto claims but still know enough regarding homeowners policies. If it’s a covered loss that causes water to enter the home, then the water damage is covers. For example, if a limb causes an opening (limb is a covered loss), then the subsequent water damage would be covered. Same thing with hail damage, wind, etc... Busted pipes are covered. Flood insurance is only for outside rising water, such as a tidal surge from a hurricane, rising river/creek water from rain, etc...

 

[ConstitutionCowboy]

I work in auto claims but still know enough regarding homeowners policies. If it’s a covered loss that causes water to enter the home, then the water damage is covers. For example, if a limb causes an opening (limb is a covered loss), then the subsequent water damage would be covered. Same thing with hail damage, wind, etc... Busted pipes are covered. Flood insurance is only for outside rising water, such as a tidal surge from a hurricane, rising river/creek water from rain, etc...

I can see the validity of this. If you are not in a flood prone area, you have no need for flood insurance. If water ever rises high enough where I live, I'd hope the good Lord would give me enough advance warning to build an arc.

Woody