HO Insurance

"cc" <[email hidden]> wrote in message news:[email hidden]...

Quoted message said:

I remember a brief convo recently regarding homeowner's/renter's
insurance, and more specifically bike replacement.

Pete, I remember you had a favorite. What was it?

Do others have good/bad experiences with their insurance provider?

When I had two bikes stolen I had Farmer's and they were nice. Since I had
bought one used and had thrown a lot of parts on it they just asked for an
estimate from a bike shop of the value new. One shop didn't want to do it
even though I had a picture, they thought I was going to defraud my
insurance company or something and the guy was a [censored] about it, but the
next shop I went to was happy to help. The funny thing was was that I was
going to buy my replacement at the first shop and he lost my business. I
wasn't interested in any of the brands carried at the 2nd shop and told the
owner that but he happily wrote me up an estimate anyway. The other bike
was recently purchased and Farmer's gave me the amount of the estimate plus
what I paid for the other bike minus my deductible.

Greg

G.T. said:

"cc" <[email hidden]> wrote in message news:[email hidden]...

Quoted message said:

I remember a brief convo recently regarding homeowner's/renter's
insurance, and more specifically bike replacement.

Pete, I remember you had a favorite. What was it?

Do others have good/bad experiences with their insurance provider?

When I had two bikes stolen I had Farmer's and they were nice. Since I had
bought one used and had thrown a lot of parts on it they just asked for an
estimate from a bike shop of the value new. One shop didn't want to do it
even though I had a picture, they thought I was going to defraud my
insurance company or something and the guy was a [censored] about it, but the
next shop I went to was happy to help. The funny thing was was that I was
going to buy my replacement at the first shop and he lost my business. I
wasn't interested in any of the brands carried at the 2nd shop and told the
owner that but he happily wrote me up an estimate anyway.

I had a similar experience . .

The other bike

Quoted message said:

was recently purchased and Farmer's gave me the amount of the estimate plus
what I paid for the other bike minus my deductible.

So is there a premium difference in getting estimated worth vs.
replacement cost ?

Quoted message said:

Greg

In the previous article said:

So is there a premium difference in getting estimated worth vs.
replacement cost ?

My insurance industry bud advised me that just about everyone has a
"replacement value rider" on their homeowners' policies. If you
*don't* have this rider, it's fairly unusual and an indication that
your insurance company and/or agent is a little bit skeevy.

The kicker is that most companies -- not even the wonderfully amazing
USAA -- won't volunteer to settle your claim for "replacement value."
*You* have to be the one to bring it up at claim time, so don't be shy
about it.

I told this story recently, but here's a summary: my (stolen) bike
listed for $1,800 new in 1998 and was used, abused and beat all to
hell. The actual market value of this used bike was maybe $400 and
I'm being rather generous in that assessment. However, it was a
carbon fiber full suspension bike, so USAA found the lowest-end carbon
fiber FS bike out there (Trek Top Fuel 98) and settled my claim for
the list price of that bike, $3,850.

Replacement value insurance is a Good Thing. I would guess that if
you have it and asked your insurance company to drop it, the premium
difference would be negligible. If you don't have it and ask to add
it, the premium difference might be substantial, but you should
probably change carriers anyway in that case.
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