Recommendations for Renter's Insurance (HT-friendly) (1 Viewer)

[Carlo_M]

Hi All,

I'm going to be purchasing renter's insurance for my new apartment. However I've read policies in the past that severely limit electronic equipment (I don't have a huge HT, but it's probably worth $10,000 all told: HDTV, receiver, speakers, players, etc.). More importantly I have hundreds of DVDs that I want to insure as well.

Can anyone here recommend a good renter's insurance that is HT-friendly?

Oh and I live in California, so earthquake coverage would be nice too (but I can explore that separately).

thanks!

 

[Lee L]

I used Nationwide and use them now for my homeowners insurance and they cover electronics with no limit other than the regular loss limits on your policy.

 

[Leila Dougan]

Carlo, many insurance companies will insure higher amounts for a small additional fee. Or, you could list your HT gear separately to ensure it's covered (just like people may insure expensive jewelry).

 

[Pamela]

I believe you live in my neck of the woods. I have my renters insurance through Mercury, in tandem with my auto policy. I have 35,000 worth of coverage and I pay $279 a year. There are limitations on computer gear and jewelry, but it was I was told there is no limitations on HT equipment.

Edit to add:
I missed the part about earthquake insurance. When you get renter's insurance you will, by law, be offered an additional earthquake policy that I believe is through the state. It costs $100 a year and is very limited. I think you only get a few thousand. I didn't bother getting it. I think it would be very difficult to get more comprehensive coverage.

 

[Carlo_M]

Thanks Pamela. I got an e-quote from Allstate in the neighborhood of $260 a year for $25000 insurance (don't know about the specific HT provisions), so that's real competitive with Mercury's quote.

I did notice that they had earthquake insurance additional at Allstate. For $5000 it was $106 annually! For $25000 it jumped up to $220 (about the cost of renter's insurance alone)!

Now that you mention Mercury, I remember that my best friend's cousin started working there. Maybe I'll drop him an email and see if he can "hook me up". Thanks!

 

[Leila Dougan]

For $5000 it was $106 annually! For $25000 it jumped up to $220 (about the cost of renter's insurance alone)!

True, but for 5x more coverage you only pay twice as much.

 

[Carlo_M]

Is that supposed to make it any less painful, Leila?

Well, I've gotten a few e-quotes that are all within the same ballpark, so i think I'm going to stay with an established name, like Allstate or Mercury. They both have agents in my zip code (whereas some didn't even have So-Cal reps).

Can anyone vouch for service from either? Turns out my friends cousin left Mercury for a better job last month - damn!

 

[Leila Dougan]

Is that supposed to make it any less painful, Leila?

Not in the least I'm just kidding with you, trying to point out the silver lining.

 

[Cary_H]

It will help to have coverage for replacement value of your possessions. It is wise to keep photos of things, and purchase records if possible....and at a different location.
For irreplaceable, valuable items like artwork and jewelry you'll want to have "riders". Riders are specialized, individual coverage above and beyond your content insurance for these types of items.

 

[Carlo_M]

Thanks for introducing the "rider" term to me. I will be sure to ask about it when I call the insurance agent in the next few days. Actually I seem to remember that the issue I had a while back with limits on equipment was $1000 per piece. Now that I think about it, most of my expensive equipment (HDTV, receiver, speakers) are not much more than $1000 each anyway, so that coverage would get me a long way back to getting a replacement if it were stolen.

Good idea about the photos and receipts at a separate location.

 

[JustinCleveland]

Carlo... it hurts, doesn't it? I have 30000 coverage, I pay like 150 a year in tandem with my auto insurance with State Insurance. Works for me!

 

[Carlo_M]

Yeah, does hurt a bit, but I figure $20 a month will hurt a lot less than losing my stuff and being S.O.L.