2. misc-audio
  3. 153857-140995

Insurance values

Hi, I wondered what others do about insuring hi fi.  Many years ago I used to specify full details of Hi Fi system separates from a concern that an insurer would not cover in the event of a claim.  Eventually I was informed that insurers were not concerned about these items as they did not fall within the very narrowly defined list of "high value items" and so providing the overall cover was sufficient, itemised detail was not required.  Hence I stopped providing the detail...
I am now renewing household insurance and noted that the position has changed, and insurers now list "turntables" and "audio equipment" within items of high value to be specified... This has given me a slight problem, in that the system has been in place for a number of years, and although I am aware of the purchase price for components, and could probably track down replacement values for a number of items, there are some specifics that are no longer available, eg:Linn LP12, with armageddon power supply and Naim Aro tonearm, dynavector cartridge  Sorry for the long winded introduction, but I wondered what others do about such items ? how do you determine replacement value ? do you cover through standard household insurance ? Is it worth considering a specialist policy ? Any views/ thoughts would be appreciated.
vinylgeek

Showing 3 responses by lowrider57

lowrider57's avatar
lowrider57
5,418 posts
 
Wow @mofimadness , that's a terrible experience.
I'd like to know if your system was listed simply as property on the policy, or did you have some type of rider?
I'm guessing you had a replacement cost policy.
 
lowrider57's avatar
lowrider57
5,418 posts
 
Thanks @testpilot . I’ll contact my insurance agent again and make it clear that these are certified rare coins.

It would be devastating to only receive $20 face value for a double eagle coin valued at $5000.

lowrider57's avatar
lowrider57
5,418 posts
 
I asked my insurance company about coverage for my HiFi system. They said it is treated as property just like everything else in my house.
I have taken pics, recorded serial numbers, and kept receipts.

But this part doesn’t make sense to me; I have a rare coin collection and asked for a rider, similar to an art collection. They said the coins are considered property along with the contents of the house. This doesn’t make sense since most of the coins are graded and have a book value.



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