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Insurance lessons

Discussion in 'Off Topic' started by xroads, Nov 25, 2014.

  1. xroads Veteran Reefkeeper Vendor

    La Porte City, IA
    Ratings:
    +1,014 / 6 / -0

    Here are some insurance lessons everyone can use


    Take a ton of pictures of every room in your house, email them to yourself. Then save that email in a folder. Take special care to take pics of valuables.


    Know your agent, and get an anual review. Make sure you know your policy limits on certain items. (IE jewlry, guns, fish, etc)


    update your email when you buy new stuff. Take pics of receipts.





    You can access an email anywhere, and it will never burn up, blow away, or float away.
     
  2. Borky00 Well-Known ReefKeeper

    472
    Lisbon
    Ratings:
    +70 / 0 / -0
    Honestly, I thought of this (via a video camera and a VHS tape) long ago and just never made the time to act upon it. It came just after a friend had their garage broken into and they stole a bunch of tools.

    Just one of those things you think is not that important until you need it. Good advice. And it does not take long to do.
     
  3. blackx-runner Administrator Website Team Leadership Team

    Cedar Rapids, IA
    Ratings:
    +738 / 5 / -0
    Are these after the fact advice that you're kicking yourself for not doing. Or helpful tips that have come in handy with your recent ordeal? Hopefully its the latter.
     
  4. xroads Veteran Reefkeeper Vendor

    La Porte City, IA
    Ratings:
    +1,014 / 6 / -0
    A little of both
     
  5. gburkart

    gburkart Well-Known ReefKeeper

    489
    Ratings:
    +119 / 1 / -0
    while talking to my agent,i told him about all of the electronics i have in my house and he questioned me,said coverage was based on averages ie; house worth so much=electronics value % and i was nowhere near covered,so i had to take out an additional rider for more protection.odd how they can say if your home is worth 120,000,you must only have about 3600.00 worth of electronics lol.but great advise to ask you agent about and see what you are really covered for.....
     
  6. Zach Well-Known ReefKeeper

    605
    Coralville, Iowa
    Ratings:
    +21 / 0 / -0
    Also know your policy. And get an inspection. Most fish related accidents that result in fire are not covered unless you have gfci outlets among other consideration

    great advise though!
     
  7. Bud Loves Bacon Website Team Board of Directors Leadership Team GIRS Member Vendor

    West Des Moines, IA
    Ratings:
    +1,818 / 14 / -0
    Zach that's interesting on the GFCI item, where did you hear about that? Because that's actually against what you should be using in some cases. I think Jamie is the one that posted the dissertation on electrical safety several times regarding that.

    +1 on photographing or better yet videotaping all of your belongings once a year, then put that on an Archival Gold CD (not the normal ones) and put in a safety deposit box. You will never, ever remember everything you own until you need it and realize it's gone.
     
  8. abower Well-Known ReefKeeper

    466
    Ryan, Ia
    Ratings:
    +74 / 1 / -0
    I refuse to use gfci anywhere but the bathroom. Code wants them in the basement so you have your sump pump on one. As Typical the pump turns on and trips the gfci and your flooded. I replaced my gfci with standards on anything i can't afford to have trip. If a fire breaks out and its a total loss I'd like to see the adjuster out there skimming through the ashes. Those gfci are so sensitive a timer or heater switching on can trip them.

    A safer bet: good quality outlets, dedicated breakers and count your amps.
     
  9. Bud Loves Bacon Website Team Board of Directors Leadership Team GIRS Member Vendor

    West Des Moines, IA
    Ratings:
    +1,818 / 14 / -0
    I know for a fact that there is not one on ours and the house was built in 2000.

    You only need to have one within 6' of a water source like a sink in bathroom, countertop receptacle, etc. Who told you that code required a GFCI on a sump pump?

    I gotta do some NEC research today for a project I'll look it up but I'm pretty sure there is an exception for sump pumps, that would be just stupid to require a GFCI on that.
     
  10. xroads Veteran Reefkeeper Vendor

    La Porte City, IA
    Ratings:
    +1,014 / 6 / -0









    I have NEVER heard that. The insurance inspector who inspected the store every year didnt even say that and we were commercial.



     
  11. Ray/Jen_Reefin 2016 Vice President / 2015 Volunteer of the year.

    Davenport, IA
    Ratings:
    +459 / 5 / -0

    Yes speaking from experience! Insurance companys can be very difficult to deal with in insurance claims. From my experience my company and my father in laws do back you up in claims but I'm sure there are companys will leave you high and not dry.. the cover the supples and the products but not the live content. Yes please check with your company!!!!
     
  12. Bud Loves Bacon Website Team Board of Directors Leadership Team GIRS Member Vendor

    West Des Moines, IA
    Ratings:
    +1,818 / 14 / -0

    Alwasy check local codes when in quesiton, or call your local code inspector. For instance, a google search revealed this in CR (attached PDF)


     
  13. Bud Loves Bacon Website Team Board of Directors Leadership Team GIRS Member Vendor

    West Des Moines, IA
    Ratings:
    +1,818 / 14 / -0
    Incidentally the GFCI exception for sump pumps was removed from the 2008 National Electric Code
     
  14. Bud Loves Bacon Website Team Board of Directors Leadership Team GIRS Member Vendor

    West Des Moines, IA
    Ratings:
    +1,818 / 14 / -0
    Another thing to consider is this

    http://www.necconnect.org/resources/gfcis/

    So manufacturers have anticipated this. I don't know if that means that their pumps are made in such a way that they will not cause a nuisance trip.

    Maybe one or you insurance company guys can chime and about code upgrade requirements. I know that claim payment do not cover things like code upgrades for restoration after a claim is paid unless that rider is added (for instance, if you don't have hurricane clips and your roof blows off, the replacement roof is like kind and quality, and the homeowner pays for the now-required hurricane clips, etc). But if an incident occurs and the fault is related to a non-GFCI sump pump receptacle that was to code when installed, but was not to code at the time of the claim, does that raise the possibility of the claim being denied? I would think not, but it's always good to know these things.
     
  15. Bud Loves Bacon Website Team Board of Directors Leadership Team GIRS Member Vendor

    West Des Moines, IA
    Ratings:
    +1,818 / 14 / -0
    More notes:

     
  16. abower Well-Known ReefKeeper

    466
    Ryan, Ia
    Ratings:
    +74 / 1 / -0
    Thanks for the research. Had my breaker panel installed in 08. Must of been a laps when he told me all outlets.
     
  17. Placid

    280
    Norwalk, IA
    Ratings:
    +60 / 2 / -0



    I been an licensed homeowners adjuster for the past 5 years. If I could give any advice is to read you're policy. The majority of the disagreements I get in the field is someone assumed they have coverages for this, that or everything within the home. If this was fact a homeowners policy would not be cost effective for the consumer. A Homeowners policy is focused for the primary home and additional thigns second. These additional things have smaller limits and more restrictions. The policy is actually broken up in different areas which makes it easy to read and understand. From my experience I have not came across any insurance company that actual provides $coverage to domestic pets *Dogs, cat, fish, birds*, in fact majority of insurance companies actually excluded all such coverages. Also majority of policies also exclude damages caused via domestic pets such as dog eating a hole in you're wall, fish tank leaking causing damages to hardwood floors. If this is a concern I would speak with you're agent, read the policy and see if you can add an endorsement that would waive these exclusions or add such coverage. From my experience I would say 1 out of 5/6 agents have actually read the policies they are selling.


    On another note; adjusters are humans too. Sometimes during a claim mistakes are made, coverage granted where it shouldn't or denial provided when coverages was available within the policy. Per state requirements an adjusters primary job is to FIND coverage for the consumer, without stepping outside the coverage limitations or exclusions. The best thing you can do is educate your self on what you purchased for coverage. The cheapest policy is likely the most restricted policy...



     

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