[4746] in Depressing_Thoughts
Re: I never could get the hang of [Fridays]...
kevles@ATHENA.MIT.EDU (kevles@ATHENA.MIT.EDU)
Fri Jan 27 14:21:42 1995
Most policies distinguish between actual value of items lost and
replacement value. If you own a VCR which is two years old, the actual
value will be dismal (maybe $50) whereas the replacement value will be
high (maybe $300). My guess is that Barry thought he had a policy that
paid replacement value, whereas it actually only paid actual value for
items lost.
PS - A wise thing to do is tocollect purachse receipts of high-ticket
items and take photgraphs of everything you own (4-6 pictures per room
will usually cover it) and put the whole shebang in safekeeping
somewhere, like a safe deposit box or your parents' home. Put xeroxes
(dupblicate prints for the photos) of same in another location. That
way, if you get robbed or other disaster strikes, you can prove to the
insurance company that yes, you owned these items,and yes, they are of
specified value.
When I buy insurance, I tend to take a high deductible and not cover the
whole value of what I own. I figure that the purpose of insurance is
not to replace little things that get stolen, but to enable me to start
over from scratch if necessary. I do, though, fully cover certain
"desirable" items like my engagement ring. This way I'm covered in case
a disaster wipes me out, but I don't wind up spending excessive amounts
on insurance.
--Beth
