Insurance for home theater equipment???

[goldear]

I'm glad I saw this thread since I also live in Florida and when All-State left us they switched us over to Royal Palm. While I have plenty of personal property protection, it looks as if they may have specific limits on electronic equipment. A-S was great, offering replacement cost coverage up to my total limit, but sadly it looks as though this company may only cover up to 10% of my total personal property coverage--and that won't nearly cut it. I'll be talking to my agent in the next couple days to straighten this out. Thanks

[Mitchell Erblich]

No. No. Most people don't understand that no one is going to drive into your stereo and you aren't going to crash it. So the question is someone going to steal it or is it going to be damaged. If someone breaks into my place what is the chance they are going to take one of my mono 100 pounds amps (krell 250M).So what is the chance of the last item: electrical strike or voltage surge. Well I am 100% that every house made in the past 20 years have a ground. If not, spend the money on a good ground. Assuming their is a major electrical storm going on, how many of you are going to be playing a high end stereo. Most stuff lasts for many years after the 1st year of operation (aka infant mortaility) and when it goes or before it goes, you probably want to upgrade it. Have you discussed with an insurance agent what you are going to get if it is damaged by electrical storm. ASk about the $5k Krell 250M as what they will pay you and what type of proof you will need. Thus, in my opinion, just get a Furman that tells you your voltage and don't waste your money on AV inssurance..

[farmersre]

The last post is correct in the most important way. I would not buy AV insurance either. If your homeowners insurance leaves you feeling empty and concerned about your stereo how do you think it is giving you peace of mind about the asset that really matters, the house that it is housed in! There are policies that have named exclusions which cover quite a bit and yes, I have processed clients claims where they have walked out with stereo items heavier than your Krell along with the entire safe holding the other valuables in the home. I have taken claims for tv's and stereos that were fried when the homeowners were not at home as well so it does not have to be on during a storm. There are instances where damage can be caused by homes with grounded receptacles as well. And I have seen many people that were very upset when they found that none of this was covered but I have also helped find coverage in the correct places when possible as well.
Fortunately, none of them were my clients for if your agent is doing his job he will make you aware of what is covered and what is not. And there are many ways as listed below to protect your equiptment for some of the perils not covered on your policy but there are so many people out there that do not realize how damaging brown outs or power sags are to your equiptment just as the spikes are. Call your insurance agent and then call your audio/video professional to make sure all perils that concern you are covered. Always remember that if possible always get the insurance policy that names only the exclusions and not the one that only covers the names perils if at all possible. Also, ALWAYS make sure you have replacement cost coverage so that if you do I can go on forever about how to protect your gear which it looks like I already have.

[Celt16]

To all who believe they are covered, check your policies - the ugly little secret is that many policies (as does mine) cap A/V coverage at a measley few thousand dollars - I may have that much in cables. When I did the math on replacement cost - I was SHOCKED at what it will cost to replace. I have electrical surges covered, but we get hurricanes here and fire is a risk everywhere, as is theft - the weight of a 100 lb component will NOT deter a thief that understands its value.

My policy is capped at a few thousand, replacement cost is WELL into 5 figures, and increasing contents coverages does NOT change the cap on A/V. Check your policy / talk to your agent as suggested by the former agent in this thread. And if anyone can tell me where to buy a rider (my current company does NOT offer an A/V rider), I'd be grateful. One suggestion I heard was a fine arts policy in combination with a detailed inventory and an appraisal. Thoughts from those in the know are welcome.

[Celt16]

Originally Posted by Kalen

We hope that Practical Home Theater Guide will serve as a comprehensive reference source with easy-to-follow information covering all aspects of home theater. Our aim is to help you achieve through your own home theater system that same magical experience we enjoy at movie theaters. Each of these sections include the relevant home theater guides that discuss in detail the respective design criteria, setup constraints, equipment selection, and overall equipment integration. Related home theater system reviews are also included, while links to manufacturers' sites and major online suppliers are provided whenever possible.

Kalen - not sure why you bothered to post the above here - it has NOTHING to do with insurance for A/V home theater.

And Mitchell's post completely misses the point - I already have electrical surge protection in multiple layers, and I'm not worried about theft - it would indeed take a truck and 2 or 3 burly guys to rip me off.

However, I live in Florida - hurricanes, fire. flood and other hazards leave my equipment 100% exposed to loss. From an acquisition-cost standpoint, I'd be out close to $20K and on a replacement costs basis - a total loss would exceed $50K.

[rbinck]

While it dosen't have anything to do with the thread topic, when you quote him the post will still remain even after I delete the post. Now if I delete the post, it makes your post look silly.