|Subject:||Re: [TowerTalk] More on Insurance and Towers|
|From:||"K8RI on TowerTalk" <firstname.lastname@example.org>|
|Date:||Sat, 1 Jan 2005 13:12:32 -0500|
Now, the point of my story. When I called the insurance agent to start the claim, and the adjuster got there, I discovered that all "non attached structures" were totaled into one figure and the limit of that figure was 10% of the value of my house insurance. My exterior damage to the barn, tower, tractor, fence was way, way in excess of 10% of the
I think this is pretty much standard and a good agent should have explained it that way.
We carry riders on the towe and shop as either one far exceeds the 10%. Plus the shop (which is insulated, heated and has a finished interior) has a lot of equipment, PLUS the antique radios (Hallicrafters naturally) and a half constructed airplane. Both the airplane and radios have their own insurance.
If any particular structure is covered, but is worth more than 10% I put a rider on it.I changed companies and then got additional coverage (I thought my agent was an idiot) for each of the outbuildings or structures so that if I lost them all at the same time, all would be covered. It cost more, but I felt it was worth the additional coverage.
As far as the total structures you pays your money and makes your choice.
Another thing most of us don't think about is water. Water damage isn't usually covered unless you carry a rider for that. Few of us carry flood insurrance as we don't live in flood prone areas, but check to see what your carrier calls a flood when it comes to water damage. More than likely most water damage is considered flood damage.
So far I've been happy with my coverage, but I've only had a couple of claims over the years. We carry replacement cost on contents which is a tad more, but generally worth it. With the computer they even let me put in a faster CPU<:-)). Unfortunately I'd only had the old one a couple of weeks. Naturally it was my newest, latest, greatest, state-of-the-art, bleeding edge technology. Of course it had become "old news" by the time I replaced it.With insurance, my experience is that you are never covered for what you think that you are covered, and you are always disappointed in the settlement when it occurs.
Roger Halstead (K8RI, EN73 & ARRL Life Member) N833R, World's Oldest Debonair (S# CD-2) www.rogerhalstead.com
See: http://www.mscomputer.com for "Self Supporting Towers", "Wireless Weather Stations", and lot's more. Call Toll Free, 1-800-333-9041 with any questions and ask for Sherman, W2FLA.
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