Suggestion to all re: Insuring your equipment

[Rochambeau 10+ year member]

Just a note as this is the one way that being a newb I can contribute to the forum and that is by speaking to my lone area of expertise since I am an insurance agent.

Call your agent or company to make sure they do not have limits on special equipment such as stereos, amps & what not. Some companies do and will make you schedule it or will refuse to cover it at all. Some companies don't have any limitations and will pay for every piece of stolen equipment regardless.

In all cases, it is important that you have receipts, photos or other proof that you have the equipment in question.

A phone call now and some photos/receipts will save you a lot of hassle or misery down the road when Joe Methfreak rips your gear.

Click to read more...

 

[BassAce 10+ year member]

Question is when I tell my insurance company that I have expensive audio gear, will they jack up their rates for me. I just have a hunch 90% of the companies will.

 

[GrnEydDvl 10+ year member]

AAA (the insurance I have) didn't bat an eye when I told them I had stereo equipment installed worth $3,000+ at MSRP.

Of course this was for a rather expensive car. I forget the exact ratio, but my agent made it sound like as long as the extras were under a certain percentage of the value of the car, everything would be covered. This is assuming I had receipts and photos. If I had to guess I think he said it was 20% or less of the car's value that would be covered.

 

[hoaxci5 10+ year member]

It cost me $9 a year to add $1000 worth of additional coverage for my trucks audio equipment.

(geico)

 

[BaseSteala112 10+ year member]

Yea I should really add this to my list of things to do.

 

[shawnfleming 10+ year member]

cost me an extra $9 a month for $10,000 from Geico

 

[hoss 5,000+ posts]

****, sounds like geico is the way to go...

i got hit with $100/year for $5k

 

[nauc 10+ year member]

whatever you do, get it in detailed writing, the last company i was using tried to fuk me out of 2.5g's

went to collect, had my dad go with me, after the lady said, youre screwed, i turned to my dad and said, good thing youre a lawyer, hes not, the lady said, ill be right back and came back and said, new policy, youll get your money, and i did

fukin bastards

 

[AndonD454 10+ year member]

anybody know state farms policy?

as much as i pay for insurance they better not give me the "box has to be bolted to the chassis, installed with nuts not screws, amps must be mounted securely sepreate from sub box, radio face must be out of car at time of theft".. etc

 

[T3mpest 10+ year member]

As the largest insurance firm the world I would hope state farm would have a good policy on it.

 

[Rochambeau 10+ year member]

I used to be a claims rep for State Farm and (at that time which was 14 years ago, in California), they would pay for any claim you documented, no limits. Photos in this regard are very helpful. Show the stuff in the vehicle.

I can say they no longer have the reputation for easy-pay claims that they used to, but I would GUESS that their policy still reads the same.

With State Farm though, I would bet that their people in the agents' offices would be fairly knowledgable. If you REALLY want the facts as pertains to their policy, call the local claims office (aka: Service Center) and ask to speak to any property damage adjuster or supervisor. They know for a fact what is covered because they are the ones that write the checks.

Finally, to all, when itemizing your custom stuff, don't forget wheels & paint, etc...

 

[noob with an RS 10+ year member]

can i get used equipment that have no receipts insured?

 

[siliconinja 10+ year member]

i've got progressive and my full insurance coverage on my 06 accord comes with 1000$. I added an additional 2000$ in comprehensive coverage and dropped the deductible from 500$ to 100$ all for an additional 70 bucks a year. I looked into the insurace before i even bought the system becuase toledo is ghetto as f*ck, especially around UT where i goto school. Definitely a good idea to insure your system. I'm a dj and also have my DJ Equiptment insured, from the turntables to the speakers to the lights.

 

[Rochambeau 10+ year member]

can i get used equipment that have no receipts insured?

Likely... With photos of the equipment installed, that's about as good of proof that you have it as anything. For your own sake, you should do your best to establish the cost new of the equipment through research in order to have a starting point from which to value the equipment. It will probably be a lot easier to do now than after a few years when the equipment is older. Then again, many companies may be reluctant to put a value on hit higher than you paid.

 

[noob with an RS 10+ year member]

Likely... With photos of the equipment installed, that's about as good of proof that you have it as anything. For your own sake, you should do your best to establish the cost new of the equipment through research in order to have a starting point from which to value the equipment. It will probably be a lot easier to do now than after a few years when the equipment is older. Then again, many companies may be reluctant to put a value on hit higher than you paid.

doesnt that mean that thieves can come up on a bunch of expensive equipment and have them insured? that's not fair. but i like the idea:up2somet: