Home owner's insurance question

Glad to see other insurance professionals here. All very good advice. I’ll just add a few things.

1. LP’s if considered “collectible LP’s (an intrinsic value that appreciates) can be insured separately under a Personal Articles Floater, as can be jewelry, other collectibles, camera, artwork and more. This type of policy is “all-risk” vs named peril; even dropping a LP would be covered.
2. A cash settlement will include depreciation but replacing the item ( if you have replacement cost coverage on your personal property, most people do) you will get you full retail value.
3. AV gear does not normally appreciate in value so it typically cannot be insured for all-risk coverage.
4. The value of an educated insurance agent with a qualified staff cannot be said enough. Dealing with unlicensed people in a call center, well “ you get what you pay for”! That statement also applies to auto insurance. My agency insures people weekly with the wrong type of insurance.

Dave

Elizabeth is correct in all aspects with one respectful correction. And by the Elizabeth you could teach me volumes on AV...

Contents Coverage B or personal property,  
does not have a “co-insurance penalty” clause as does Building coverage A does. While you are required depending on the carrier to carry 80-100% of replacement cost on your home, your contents has no % that is required. You could have $50k contents but only carry $25k contents and still get full recovery on a $25k loss. The exception is the federal government with National flood insurance, carry 100% across the board or FEMA might get you!
Dave 
38 year SF agency owner

Tuberist is 100% correct. Items that appreciate in value ( jewelry artwork etc) over time can be individually scheduled with a declared value and receive “all-risk” coverage, even dropping an item would be covered.

items that depreciate over time cannot be insured for a declared value. However here is some good news. Say your “top of the line” Sony 75” TV or former top of the line Matantz pre-pro is destroyed by lightening from years ago. If that model is no longer being sold, a quality carrier will replace it with the “top of the line” model today. Keep all brochures, sales receipts, owners manuals and take video or pictures to prove the model you had. Do not throw it away in case the adjuster wants to see it. I have had 10 year old gear replaced at over 2.5 times what I originally paid.
Dave