That sucks. What the hell is wrong with people?
I hope you find him.
Also heard a guy got totally cleaned out at Arrowhead Lodge in Baxter this weekend too. All they left in his boat was some bobbers and crappie jigs. Popped his locked cabinets overnight. Hotel was no help and all he took out of the boat were his electronics.
I lost faith in humanity quite a few years ago. I don’t leave anything in my boat overnight. Lock all cabinets when I dock and get my truck to load up. Have been seriously considering one of the boat alarms lately.
Well as I suspected my insurance is not much help and they can only pay the price of what it’s worth not how much it cost which I figured anyway at this point no sense in using it but I learned to really check my insurance out. My boat is good I need to upgrade for my other sporting goods. At that I will save up and get 2 more combos at some point and should be good to go. Again thank you all for your support!
Well as I suspected my insurance is not much help and they can only pay the price of what it’s worth not how much it cost which I figured anyway at this point no sense in using it but I learned to really check my insurance out.
You have to be very careful with insurance. Some have limits and subsections. Like will only cover $1,500 max for tools and $3,000 for furniture, $4,000 for electronics… I had one insurance company quote me $300,000 of coverage for material items but with all the max limits of each subsection didn’t add up to $300,000. I asked the agent to explain it to me and she couldn’t. I guess they are hoping you don’t look at the fine print.
I do have one question, how do they figure out that it is worth?
I was told they would check online places for used cost. Meaning most likely Ebay etc. not what I would call a great place for pricing. I was told even with a receipt for instance a $250 rod and reel combo may be worth $150 because it’s not new anymore as you can see I said forget it and when and if I get an arsenal going again I will look very closely at my new policy.
I was told even with a receipt for instance a $250 rod and reel combo may be worth $150 because it’s not new anymore as you can see I said forget it and when and if I get an arsenal going again I will look very closely at my new policy.
Sounds like you have an Actual Cash Value policy, instead of a Replacement Cost policy. Sucks to find out this way, but it’s better than finding out on a roof claim that they only will pay a depreciated amount (ie half of the cost to replace your roof less your deductible). This is increasingly common with many insurers moving to ACV policies, and something everyone should check out with their agent.
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