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  1. #1

    Default Renters Insurance for $25,000 of Electronics

    My question involves insurance law for the state of: California

    I'm having trouble finding renter's insurance that will cover the full value of all my electronics, which I estimate at $25,000. I will compute it exactly once I find someone who is willing to go anywhere close to that number. Most don't cover more than $1500.

    Another problem is that most of these electronic items are collector-types, antiques, and/or items bought second-hand. I don't have receipts for all of these transactions, and some of the values would be difficult to ascertain. And over $10,000 of it represents money I paid to a technician to perform custom modifications.

    I also have about $6000 of compact discs I want to cover.

    (Yes, I'm still in the stone age; I use compact disks, and no I'm not willing to rip them to a hard drive.)

  2. #2
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    Default Re: Renters Insurance for $25,000 of Electronics

    What's your legal question?

    If you are having trouble getting insurance, keep shopping around. You can get insurance for anything - I suspect that the problem is that you don't fall under standard policies, you haven't asked about getting a special policy to cover your electronics, and the insurance agents either aren't taking the initiative or anticipate that any specially arranged coverage will give you sticker shock.

  3. #3
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    Default Re: Renters Insurance for $25,000 of Electronics

    Call Lloyds of London.

  4. #4

    Default Re: Renters Insurance for $25,000 of Electronics

    Sorry, I guess it's not a "legal" question, my apologies. I was just hoping I could get an explanation why it is hard to find. You helped-- I will have to keep asking about a special policy and not let the agent just tell me it's not covered under standard policies.

    edit: I guess another question would be: do I need to know any aspects of the law (including basic concepts and definitions) to understand how custom/collector's items would be covered? In other words, how their value is ascertained?

    And, what is the chance I would get anything close to a decent payment, should these custom/antique items be destroyed/lost? Should I know anything about how these insurance policies are written, especially any tricky clauses that work to my disadvantage?

  5. #5
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    Default Re: Renters Insurance for $25,000 of Electronics

    It may be possible to get a 'rider' to your renter's insurance policy for the collection, rather that separately insuring the collection. But you're going to have to shop around.

    If you want to know the rough market value of your collectables, you can find an appraiser and (pay to) have your collection appraised. That could help you establish your insurance needs and should help document the contents and value of the collection to the insurance company in the event of a claim. If you make a claim, your insurance company will use its own metrics and experts to try to determine value.

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