by alpha92392 » Sun Apr 29, 2012 12:14 am
Hello! I am trying to sort out a theft at my mother's home. Unfortunately, for some reason the policy changed and business equipment on the property won't be covered but that was a poor error in judgement on my mom's part.. We have been vandalised in the past but have only claimed once in 20 years but this is so large I am going to file a claim.
However, we have a 4 car garage and the bay for storage, tools, equipment, power tools and so forth was wiped out and all was taken. And, the guest house was broken into and my sister's stuff, who is a grown woman, was taken in addition to the electronics inside.
My question, there is no lock on the guest house will there be a problem with the claim? A police report was filed and investigated. Also, after reading the boards I have been trying to figure out how to quantify what was owned to the insurance company and I have decided it is just easier to do what we have receipt for. No receipts for costco or home depot stuff just multiple purchases on Amex. And, it just doesn't seem worth it to fight....
LInk attached
Any ideas?!?! Thanks!!
However, we have a 4 car garage and the bay for storage, tools, equipment, power tools and so forth was wiped out and all was taken. And, the guest house was broken into and my sister's stuff, who is a grown woman, was taken in addition to the electronics inside.
My question, there is no lock on the guest house will there be a problem with the claim? A police report was filed and investigated. Also, after reading the boards I have been trying to figure out how to quantify what was owned to the insurance company and I have decided it is just easier to do what we have receipt for. No receipts for costco or home depot stuff just multiple purchases on Amex. And, it just doesn't seem worth it to fight....
LInk attached
Any ideas?!?! Thanks!!
Posted: Sun Apr 29, 2012 03:21 pm Post Subject:
The large loss will certainly prompt close scrutiny of the claim. You don't necessarily need receipts to justify what you are claiming as stolen, but it certainly would help. If your claim is accepted, you can expect a minimum initial payment that would allow you to being replacing lost tools and other articles. Submitting the receipts for those new purchases will provide you with the money needed to make additional purchases, eventually replacing all the covered property, if you choose to.
Failure to have an entry lock on the guest house is problematic. There are not likely going to be any signs of forced entry, and so the lost property there could be ruled not covered under a "mysterious disappearance" exclusion.
Making a claim for business property that you know is not covered could be in the category of "filing a false claim" and get you into trouble. So I would advise against that, or claiming what would otherwise be considered business property as personal property. That's definitely a crime.
How do you quantify the value of what was stolen? Simply go shopping and write down the current prices to replace the items like-for-like. Be aware that, in the absence of extended coverage, a claim for lost electronics (TVs, stereos, etc) might be limited to just $2500.
Also, as it relates to the guest house, if your sister is not considered a "resident" of the household, her loss would only be covered under a tenant policy. Her stolen personal property would not be includable in the larger claim.
If you believe some or all of your loss is covered, it ABSOLUTELY is worth it to fight for every penny to which you are entitled. That's what we pay premiums for.
If you need some additional advice, email me by clicking the "Send me your questions" link below.
Posted: Mon Apr 30, 2012 01:30 am Post Subject:
Hello Max!! (I also emailed this to you)
Thank you so much for the detailed answer!! I have finally gotten through the horror that the agricultural wells that were vandalised and stolen pumps won't be re-imbursed but I want to make certain my mom is treated fairly with what will be covered.
My mother has been in and out of hospital since October 2011 and my sister has lived there on and off to be a caregiver and help my mother when she is home. Does that still qualify as a tenant and not a resident?
Also, for things like luggage, expensive French which is discontinued and was on average $1500 per item 10 years ago what does one do? They took two suitcases but we have the rest of the set will this prove anything? Also, what about old leather couch which was moved from main house to guest house.
The problem is my mom went through a shredding phase and anything older than 5 years, receipts / checks, she shredded so evidence is limited.
I don't want to operate in bad faith or take advantage of the system. But, I honestly want to make certain my mother is covered for what she can be. Obviously, I can not prove out all of the tools in the big tool boxes which were my dad's or things like that but I would like to be able to get something. I
Thank you!! And, my computer stalls out when I try to read your posts. The few I was able to read I found your answers very informative!!
Thank you!!!
Posted: Fri May 18, 2012 06:13 am Post Subject: ZvdTYEKMdDl
I work at State Farm and we offer a personal aicltres policy. All you need is a bill of sale/estimate/appraisal pictures and it is very inexpensive to insure. I have insured $17,000 diamond rings for $130 a year, so of course it would be cheaper for a couple thousand dollar laptop. It's an all-risk policy so you'll get the money back no matter what happens. And you can have a $0 deductible. You might also want to check and see what your homeowner's insurance covers. it might cover the value of the laptop in your personal property coverage.
Posted: Tue Jun 16, 2015 08:17 pm Post Subject: home owners theft
i have Home owners policy FP-7955.CA...OPT ID HOME OWNERS POLICY....OPT OL ordinance /law 10% of 24,000.00
...OPT JF 1,500/2,500 ...FE-1313Form 438 NS Lndr Loss Pay
... FE -3422 Homeowners Policy Endorsement.
Q, My mom put in a theft report for 60,000 dollars last year and then passed away. We are assessing damage with full photos etc. Is our personal Property of 150,000 policy on a Scheduled Value. No policy is available now. thanks
Posted: Tue Jun 16, 2015 08:17 pm Post Subject: home owners theft
i have Home owners policy FP-7955.CA...OPT ID HOME OWNERS POLICY....OPT OL ordinance /law 10% of 24,000.00
...OPT JF 1,500/2,500 ...FE-1313Form 438 NS Lndr Loss Pay
... FE -3422 Homeowners Policy Endorsement.
Q, My mom put in a theft report for 60,000 dollars last year and then passed away. We are assessing damage with full photos etc. Is our personal Property of 150,000 policy on a Scheduled Value. No policy is available now. thanks
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