……some companies will allow you to add what is known as a ; Rider to your homeowners policy . It has been previously noted that adding the value of your stereo along with the media may create a limit that exceeds a personal property limit on your policy . Valuation is the limit as replacement cost is the correct avenue . However , replacement cost with “ same like and kind ‘ could be an issue at a loss especially if you have some older equipment that is irreplaceable . I get nervous on the value of my CD collection as some cannot be replaced and that’s where a claim can go side ways as along with our equipment we know the value of it in the marketplace but insurance companies do not . We have an emotional attachment to our music and gear. The Riders I have mentioned are not inexpensive ( what is ) but when a loss occurs and we believe that they never will , but they do you will be glad you have it in place. One other point to consider is if you live in a flood zone or an area that is prone to tornadoes. That is a whole different ballgame but if you are in those zones , a conversation with your agent and company is a must .
This is a great post that we as audiophiles really need to look into and feel comfortable about the coverage you have in place because all that it takes is just that one time so be diligent about it .
I retired from the insurance industry after 42 years . Talk to your agent and make sure you are covered and check different companies .
Insurance for system
I have been trying to get theft coverage for my system without success. Between the electronics, cables and add ons I probably have around $100K invested in it. My broker suggested that she might be able to get coverage for some of the gear but not all of it. I know that there are specialty carriers for collectible cars but is anyone aware of insurers who specialize in coverage for what most carriers would consider luxury goods?