[TowerTalk] insurance, post-9/11

[jimjarvis@comcast.net]

Mike, KM1R, wrote:

years ago I lost a large Telrex rotor and a 4 el full size yagi due to ice. 
Neither were in production anymore, and I had replacement value on them. I showed the adjuster the original ads for the two items (with the $$) and 
documentation (QST press releases) that showed the two companies out of 
business. 

He asked : "what would it cost to have these made today?" After a short burp, he 
said, "give us YOUR estimate, and get them rebuilt so they never break again". They paid rapidly, in full, and I did in fact replace with another  Telrex and a larger antenna!  My homowners never went up due to this claim.

Not sure if this is still the case in 2005 though.
-0-

In the post 9/11 environment, where all major insurance carriers were clobbered by the syndicated losses in the world trade center collapse,  everyone is being extremely cautious with risk.  Reserves are low, on all balance sheets.  Two claims on homeowners...you may not be renewed.   Get a ticket?  watch your insurance go up.   Want that million dollar blanket liability policy?   If you've had homeowner claims, or an accident claim on your car, you may not find someone to write it.   Sit on a board...even a volunteer board?   They'll want a copy of the directors & officers blanket policy before even quoting a personal umbrella.

I had a customer near Manassas, VA, whose home was nailed by a hail storm.  All of the siding on his house was dimpled.   Carrier replaced without a grumble..
something like $20k before it was done.   Then served notice of intent not to renew.  

Read the contract.  Shop carefully.  Don't be frivolous with claims.  
It's a whole different world.  

n2ea