Home insurance - accident coverage question
So recently I took a tumble on my bicycle. Happily I got the opportunity to experience the ER up close and personal and it's pretty much exactly like it is on the TV.
My bike got trashed - I'm trying to understand whether my home policy covers it - in the UK I know it would have but I've read and re-read the terms and I can't really tell... I'm assuming these things are somewhat standard and hopeful that other people have had similar experiences! Clearly I should speak to my agent but I'm somewhat nervous about starting the claims process and getting dinged by premium increases in future... Anyway - any and all experience most welcome! |
Re: Home insurance - accident coverage question
Your deductible will probably be more than the bike was worth, if it was even covered....
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Re: Home insurance - accident coverage question
Originally Posted by mrlion
(Post 11406396)
I'm assuming these things are somewhat standard and hopeful that other people have had similar experiences!
Ask your agent if it is covered. Just because you ask doesn't mean that you have to make a claim. |
Re: Home insurance - accident coverage question
Your deductible should be fairly obvious on the paperwork. Mine is $5k - unless the house burns down, I'm never claiming anything.
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Re: Home insurance - accident coverage question
Originally Posted by kodokan
(Post 11406450)
Your deductible should be fairly obvious on the paperwork. Mine is $5k - unless the house burns down, I'm never claiming anything.
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Re: Home insurance - accident coverage question
Originally Posted by hungryhorace
(Post 11407260)
$5k?!? My deductible in the UK was 250 GBP.
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Re: Home insurance - accident coverage question
Originally Posted by Nutmegger
(Post 11407284)
People maintain high deductibles because it isn't worth claiming for smaller losses -- it goes on your record and before you know it you are being dropped or your premiums are soaring. e.g. Currently we have winter storm related losses that we claimed for still on the record, but if we claim again within a certain period of time, we could get dropped, so have upped our deductible to $6,500 (and pay lower premiums, too). You pick the deductible that works for you.
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Re: Home insurance - accident coverage question
Originally Posted by hungryhorace
(Post 11407307)
What's your premium, if you don't mind me asking?
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Re: Home insurance - accident coverage question
Originally Posted by Nutmegger
(Post 11407316)
Around $2,600.
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Re: Home insurance - accident coverage question
Originally Posted by Nutmegger
(Post 11407284)
People maintain high deductibles because it isn't worth claiming for smaller losses -- it goes on your record and before you know it you are being dropped or your premiums are soaring.
We have all our insurances - health, car, house - set up so that we'd only ever be claiming for a catastrophic loss, and then have emergency pots for medical/ vehicle/ house expenses that at least equate to the deductible for each. For info, my house insurance premium was $1,170 this year, on a $600k 4,200 sq ft house. It's going to be very regional, though - in AZ, we're never going to suffer any weather damage worse than the odd roof tile slipping off. |
Re: Home insurance - accident coverage question
Originally Posted by hungryhorace
(Post 11407328)
****. I'm currently in the process of obtaining quotes for our home insurance. I paid a few hundred quid for building & contents in the UK. The prices here are extortionate.
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Re: Home insurance - accident coverage question
Originally Posted by kodokan
(Post 11407329)
For info, my house insurance premium was $1,170 this year, on a $600k 4,200 sq ft house. It's going to be very regional, though - in AZ, we're never going to suffer any weather damage worse than the odd roof tile slipping off. |
Re: Home insurance - accident coverage question
Originally Posted by Nutmegger
(Post 11407337)
Also, if one has a rider for any artwork, jewelry, etc., that bumps it up.
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Re: Home insurance - accident coverage question
Originally Posted by kodokan
(Post 11407336)
I find that the price of anything here than can be monthly cashflowed rather than paid in a lump is always absurdly high, because the companies are relying on their customers' inability to do maths and feel the consequent shock and pain. I hang around on lots of financial forums as well as here; here is the only one I ever see people talking about the cost of their car insurance as anything other than a budgeted monthly amount.
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Re: Home insurance - accident coverage question
Originally Posted by TimFountain
(Post 11406420)
Your deductible will probably be more than the bike was worth, if it was even covered....
Even the shit ones are tapping a grand. Unless we're talking Walmart specials, which are death traps. |
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