Insure for Replacement Cost?

[Hobie]

The full replacement policy also covers your apartment rent while the damage is being repaired on your home.

Don’t skimp on this insurance. By saving a couple a hundred now may in fact cost you way more if you have a claim.

Spend a little time photographing and documenting everything you own and put it in a safe deposit box off site. Even your computer backup data. This will save you much grief in the event of a loss.

Good luck.

[beanmaestro]

[quote=burghMan]
The representative from USAA told me that they won’t insure for less than replacement value without any explanation. When I asked why this is a requirement, she seemed completely perplexed and just repeated that was the “rule.” Hardly what I would call “doing a good job” or “professional service.”

I’m a fool for just blindly accepting what some clueless phone rep tells me?

I know some people put USAA on a pedestal – and they are a great company for many things – but they aren’t perfect all the time.[/quote]

The quotes I got from USAA were actually 10-20% higher than the Farmer’s policy we got. The Farmer’s policy has a rider that lets you spend 50% more than the insured amount to rebuild (USAA had the same thing, but only for 25%). That let us insure for $200/sf while being covered for $300/sf rebuild.

[beanmaestro]

[quote=burghMan]
The representative from USAA told me that they won’t insure for less than replacement value without any explanation. When I asked why this is a requirement, she seemed completely perplexed and just repeated that was the “rule.” Hardly what I would call “doing a good job” or “professional service.”

I’m a fool for just blindly accepting what some clueless phone rep tells me?

I know some people put USAA on a pedestal – and they are a great company for many things – but they aren’t perfect all the time.[/quote]

The quotes I got from USAA were actually 10-20% higher than the Farmer’s policy we got. The Farmer’s policy has a rider that lets you spend 50% more than the insured amount to rebuild (USAA had the same thing, but only for 25%). That let us insure for $200/sf while being covered for $300/sf rebuild.

[beanmaestro]

[quote=burghMan]
The representative from USAA told me that they won’t insure for less than replacement value without any explanation. When I asked why this is a requirement, she seemed completely perplexed and just repeated that was the “rule.” Hardly what I would call “doing a good job” or “professional service.”

I’m a fool for just blindly accepting what some clueless phone rep tells me?

I know some people put USAA on a pedestal – and they are a great company for many things – but they aren’t perfect all the time.[/quote]

The quotes I got from USAA were actually 10-20% higher than the Farmer’s policy we got. The Farmer’s policy has a rider that lets you spend 50% more than the insured amount to rebuild (USAA had the same thing, but only for 25%). That let us insure for $200/sf while being covered for $300/sf rebuild.

[beanmaestro]

[quote=burghMan]
The representative from USAA told me that they won’t insure for less than replacement value without any explanation. When I asked why this is a requirement, she seemed completely perplexed and just repeated that was the “rule.” Hardly what I would call “doing a good job” or “professional service.”

I’m a fool for just blindly accepting what some clueless phone rep tells me?

I know some people put USAA on a pedestal – and they are a great company for many things – but they aren’t perfect all the time.[/quote]

The quotes I got from USAA were actually 10-20% higher than the Farmer’s policy we got. The Farmer’s policy has a rider that lets you spend 50% more than the insured amount to rebuild (USAA had the same thing, but only for 25%). That let us insure for $200/sf while being covered for $300/sf rebuild.

[beanmaestro]

[quote=burghMan]
The representative from USAA told me that they won’t insure for less than replacement value without any explanation. When I asked why this is a requirement, she seemed completely perplexed and just repeated that was the “rule.” Hardly what I would call “doing a good job” or “professional service.”

I’m a fool for just blindly accepting what some clueless phone rep tells me?

I know some people put USAA on a pedestal – and they are a great company for many things – but they aren’t perfect all the time.[/quote]

The quotes I got from USAA were actually 10-20% higher than the Farmer’s policy we got. The Farmer’s policy has a rider that lets you spend 50% more than the insured amount to rebuild (USAA had the same thing, but only for 25%). That let us insure for $200/sf while being covered for $300/sf rebuild.

[Raybyrnes]

I can empathize with the fact that hearing someone say that is the rule is no way of addressing a legitimate concern.

THe facts are that cost of rebuilding are hire than you might think. USAA rates have gone up since they started accepting enlisted. Your best bet is to shop around a little if your concern is the premium. I would not look to alter the coverage limits.

Your other option for reducing the premium is to go with a higher deductible.

[Raybyrnes]

I can empathize with the fact that hearing someone say that is the rule is no way of addressing a legitimate concern.

THe facts are that cost of rebuilding are hire than you might think. USAA rates have gone up since they started accepting enlisted. Your best bet is to shop around a little if your concern is the premium. I would not look to alter the coverage limits.

Your other option for reducing the premium is to go with a higher deductible.

[Raybyrnes]

I can empathize with the fact that hearing someone say that is the rule is no way of addressing a legitimate concern.

THe facts are that cost of rebuilding are hire than you might think. USAA rates have gone up since they started accepting enlisted. Your best bet is to shop around a little if your concern is the premium. I would not look to alter the coverage limits.

Your other option for reducing the premium is to go with a higher deductible.

[Raybyrnes]

I can empathize with the fact that hearing someone say that is the rule is no way of addressing a legitimate concern.

THe facts are that cost of rebuilding are hire than you might think. USAA rates have gone up since they started accepting enlisted. Your best bet is to shop around a little if your concern is the premium. I would not look to alter the coverage limits.

Your other option for reducing the premium is to go with a higher deductible.

[Raybyrnes]

I can empathize with the fact that hearing someone say that is the rule is no way of addressing a legitimate concern.

THe facts are that cost of rebuilding are hire than you might think. USAA rates have gone up since they started accepting enlisted. Your best bet is to shop around a little if your concern is the premium. I would not look to alter the coverage limits.

Your other option for reducing the premium is to go with a higher deductible.

[Raybyrnes]

AN

Your statement is not exactly true. “regardless of how much it cost to rebuild, they’ll pay for it. No chance of being under insured.”

You may find a host of items that need additional riders to cover ylou. IE Wedding rings and jewlery, gun collections, expensive rugs.

WIth respect to building cost usually the policy will allow you to go up to 125% of the value.

Now if you did significant upgrades to your kitchen with Granite Countertops and stainless appliances you need to inform your insurance company. Same is true if you added expensive hardwood floors.

Pretty easy to esceed the value of the policy.

My suggestion to alll is get your video camera out and film your house and send a copy to your agent as backup if anything ever appens.

[Raybyrnes]

AN

Your statement is not exactly true. “regardless of how much it cost to rebuild, they’ll pay for it. No chance of being under insured.”

You may find a host of items that need additional riders to cover ylou. IE Wedding rings and jewlery, gun collections, expensive rugs.

WIth respect to building cost usually the policy will allow you to go up to 125% of the value.

Now if you did significant upgrades to your kitchen with Granite Countertops and stainless appliances you need to inform your insurance company. Same is true if you added expensive hardwood floors.

Pretty easy to esceed the value of the policy.

My suggestion to alll is get your video camera out and film your house and send a copy to your agent as backup if anything ever appens.

[Raybyrnes]

AN

Your statement is not exactly true. “regardless of how much it cost to rebuild, they’ll pay for it. No chance of being under insured.”

You may find a host of items that need additional riders to cover ylou. IE Wedding rings and jewlery, gun collections, expensive rugs.

WIth respect to building cost usually the policy will allow you to go up to 125% of the value.

Now if you did significant upgrades to your kitchen with Granite Countertops and stainless appliances you need to inform your insurance company. Same is true if you added expensive hardwood floors.

Pretty easy to esceed the value of the policy.

My suggestion to alll is get your video camera out and film your house and send a copy to your agent as backup if anything ever appens.

[Raybyrnes]

AN

Your statement is not exactly true. “regardless of how much it cost to rebuild, they’ll pay for it. No chance of being under insured.”

You may find a host of items that need additional riders to cover ylou. IE Wedding rings and jewlery, gun collections, expensive rugs.

WIth respect to building cost usually the policy will allow you to go up to 125% of the value.

Now if you did significant upgrades to your kitchen with Granite Countertops and stainless appliances you need to inform your insurance company. Same is true if you added expensive hardwood floors.

Pretty easy to esceed the value of the policy.

My suggestion to alll is get your video camera out and film your house and send a copy to your agent as backup if anything ever appens.

[Author]

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