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FUT: lugnet.general
I asked my father about this. He is a Chartered Property & Casualty
Underwriter (CPCU) - which means, he understands insurance.
He explained that this type of thing can be itemized on your homeowners (or
renters policy) to be sure it is covered. Be sure to find out what your
limit is on personal belongings. Many people are underinsured in this area
just with household goods in general.
A number of software packages exist to help you track the value of household
assets (which is helpful in determining if you are underinsured). One
package is Microsoft Money. I imagine Quicken has similar functionality. I
know that Money allows you to store pictures for each entry. Then you can
track the value of various items as you find estimates.
You should also ask your agent about "replacement cost" insurance for your
valuables. This means that they will pay for what it takes to replace the
items you lost.
Anyway, your agent should be interested in ensuring that you are adequately
insured (it might make him a little more money). But the time to find out
your underinsured, or that your Lego collection isn't covered is not after
it has all been melted together in a house fire.
Like I said, my dad is the expert, not me - so you should really discuss it
with your agent. Also, different insurance companies handle things
differently, so that may play a role as well. Independent agents will
typically have a wider range of insurance plans to choose from since they
may provide policies from several larger companies.
And you might as well look for an agent that is a CPCU so you know they know
their stuff.
"Timothy Wade" <tmw0850@garnet.acns.fsu.edu> wrote in message
news:HM90Cq.161E@lugnet.com...
> Greetings everyone. I hope I've posted in the right places for this query, • and
> if not, I apologize.
>
> I'm in the process of moving to a new residence, and seriously began to • consider
> renters insurance. I can come up with figures for my TV, computer, Doctor • Who
> book collection, etc, but I was wondering what others might consider to be • the
> best way to judge the value of your collection of legs?
>
> (for refernce, I've been collecting since 1981 or 82, and have no idea • exactly
> all the sets I might own).
>
> Any thoughts, ideas, comments?
>
> Thanks
> Timothy Wade
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