Allstate Renters Insurance Jewelry
Has just been stolen. Renters insurance issue?
They stole just this past weekend. I have insurance coverage through Allstate. Thieves took nearly $ 6,000 in merchandise on all electronic. Some jewelry. I've never had to make a claim on my insurance. I've made the claim, but was just curious on how they handle cases of theft. Thanks
The coverage may vary a bit about politics and the state, but this is generally what would happen: You must have a police report, the insurance company will ask for a copy to verify the theft. claims adjuster has been to generate an inventory of stolen items, including description, age and original purchase price. Once the claim is approved, and decided that the company insurance will pay, they will pay a depreciated value of all your items, minus the deductible. Will determine the value of depreciation based on age and type Product (Electronics depreciate quickly). Here's a completely hypothetical example: 32 "Toshiba bought for $ 650 in August 2004. That television is more than 3 years old so I'm going to pay $ 250. Now, in general, the insurance add up the total value of all your stuff (anything except through any specific policy limit), subtract your deductible and will pay in total. For example, if it was $ 6000 worth of stuff (new), or (3,500 dollars depreciated value) to subtract the deductible ($ 500 for example) and pay with a check for $ 3000. Most importantly, if you have replacement cost coverage will be given a list of what you paid for each item. If you are purchasing an item to replace, we will refund the difference to the original new cost of the item stolen. In the example of television before, you paid $ 250, but its original cost on TV was $ 650. If you give them a receipt showing that you purchased a new TV for $ 400, which will give another $ 150 (because I gave him $ 250). You are not lost, they paid the full cost to replace your TV. Now if you decide upgrade to a nicer TV and given a receipt for $ 1200 which will pay an extra $ 400 ($ 650 original cost of the TV, less the $ 250 you've already paid.) So given the total amount of money you paid for your original TV, but nothing extra. This process is usually played on any item you chose for replace. If you choose not to replace an item, will not give you any extra money above the depreciated value you originally paid. I spoke in general terms based on their status and specific policy restrictions, your case may be different. Sorry about your loss, hopefully the demand is going well for you. If you have any questions or do not like the way the claim is paid, call your agent. Must be able to help.
January 25th, 2012 - 21:24
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