Insurance State Farm

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jstuart1

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I just setup a personal articles policy with State Farm for two cameras a video camera, all the housing and my reg set. Total value of the policy was over 4000.00 cost per year 64.00. All perils no deductible. After looking at the other equipment policies ( I had the one from Dan), I just couldn't beat this. Cost for camera gear 1.34 per 100.00. Scuba gear 2.75 per 100.00. For this price I plan to add my BC and other gear too. Even asked about my Doll collection. It's very expesive 0.64 per 100.00.Just wanted to pass the info along.
 
I've had my gear on my State Farm home owners as a rider policy for a while now. And, it's replacement value insurance. Very inexpensive and if I flood my camera, it's covered.
 
Good thing is that you don't have to have a rider to get the gear insurance. I found out that most other companies will not give you a policy that covers you camera in case of a flooded housing.
 
I have homeowners through State Farm. I've had 3 occasions to use them over the last 25 years, both my previous small claims were handled to my satisfaction in a timely manner.

The current one (Katrina) with significant wind and driven rain water only (no flood) damage took 6 weeks to even talk to an adjuster, with the first "estimate" on coverage $s due sometime after Thanksgiving.

OTOH those with both State Farm and flood damage pretty much have State Farm washing their hands of all structural damage and offering ANY cash settlement ONLY if there is a flood damage policy they can reinsure with. Federally written flood insurance seems to pay significantly less than half of actual damages up to a fairly low limit. Most "slabbers" (those with only a slab or steps remaining) will get nothing on structural damage unless somone was home during the strom and survived with pictures to prove the wind blew the roof off before the water got there. With up to 170 MPH gusts on the north side of the eye Katrina did lots of damage to roofs rated at only 120 MPH long before the surge peaked at about 28' above seal level. BTW the overwhelming percentage of those who stayed home to document the damage in the west half af Pass Christian, died.

FT
 
I'll bet that there will be a lot of litigation against the insurance companies about this one. They will lose. The National Weather Service has excellent data showing that there was wind speeds high enough to cause the damage and that it was not flooding, but wind driven water that caused water marks.
 
I agree, State Farm is the way to go for me. We've had them for auto and home for over 15 years and their rates are unbeatable. Even Geiko and USAA couldn't offer us a cheaper rate. The Scuba equipment insurance is the chepest I've been able to find and I'm taking it.
 
When I was talking to my agent about my gear coverage, he said he was still working on Rita claims. I guess it takes them a while to get to everyone. I'm definitly not happy to hear about the settling of the claims though. I have both State Farm Homeowners and flood insurance I purchase through them. LIke most people I thought I was covered pretty well. Sounds like maybe not. The one claim I had when the line broke under my sink was settled quickly and without problems. I'd really like to hear more from other people's experiences with hurricane related claims.
 
I have my scuba gear and a couple of watches insured with a Personal Articles Policy with State Farm (apart from my homeowner's policy with them), and I've very happy with it.
 
jstuart1:
LIke most people I thought I was covered pretty well. Sounds like maybe not.

I'd really like to hear more from other people's experiences with hurricane related claims.

Do NOT make that assumption. The federal flood program is based on the creek rising from rain over a very limited area. It is not designed to address the "earth tilting" of a major named storm.

Also be aware that in order to get the full $250,000 flood policy payout you would need to sustain a loss in excess of $2,000,000. Nowhere on the coast will a flood policy payout currently being offered on both structure and contents even come close to covering the minimal rebuilding of an unfinished but weathertight structure alone! In the mean time while the PTBs are busy pi$$ing in each others soup the victims are camped out on their slabs swatting mosquitos, trying to figure out how to pay their mortgage so they won't loose the land too, and cussing the politicians.

BTW If it hadn't been for the aid provided by several religous groups (the Menonnites and The River Ministries come to mind as being the first on the spot, and among the most helpful in The Pass) the victims would have starved to death before FEMA even bothered to show up! If you live in a hurricane target area (i.e. Brownsville, TX around to Bangor, ME) have a serious heart to heart with your insurance guy and get the DETAILS of the company payout policy way up front including a written detailed definition in real english of what each term in the policy means. Then prepare to survive on your own with NO police protection, potable water, sewage, power, communication services, or food stores for at least 3 weeks! The other thing you need to do is start a DETAILED inventory of your house on a spreadsheet including every book by title, sock, shirt and pencil. Take that spreadsheet and a CD of digital pictures with you when you evacuate! The slabbers can't do an inventory now, and are getting very little consideration for content damage.

Other religous groups including large relief crews from the Episcopal and Catholic churches, as well as many other denominations, are working very hard and making a very real difference in the victims' lives. The Red Cross has been of very limited help on the ground because they have too much paperwork before aid is provided. What is provided is welcome when it finally gets there, but their beurocracy is as overwhelmed as the Fed's.

OTOH I still haven't seen the ACLU, NAACP, SPLC and other groups who have been tearing down the church/community fabric in this country for decades provide so much as a sandwich on the coast.

The Pass should have phone and cable communications restored by the first of the year, we hope. Potable water and maybe even real sewage treatment will be several months after that. Of over 3000 habitable structures in town before Katrina ~130 are repairable, the rest are simply gone. Most roads are now clear for passage, at least one vehicle at a time, with debris piles 10 to 15' high on both sides of the road. Power is back to those few houses undamaged enough so it can be reconnected. The rest and hardest hit areas are having the infrastructure rebuilt from scratch. Many residents are getting "appointments" with the insurance company adjusters "sometime in '06". Bay St Louis and Waveland MS were hit even harder.

FT
 
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