Anyone know of an insurer who would do half or even just $10k worth of cover?
![]() ![]() ![]() |
|
contentsofsignaturemaysettleduringshipping
Hmmmm
mjb: Think of it this way: will $10k buy you a fridge, washing machine, beds, bedroom furniture, lounge suite, dining table, clothes, shoes, tv, etc etc etc? $40k is pretty reasonable to completely re-buy a house worth of stuff in the case of a catastrophic loss.
mjb: Think of it this way: will $10k buy you a fridge, washing machine, beds, bedroom furniture, lounge suite, dining table, clothes, shoes, tv, etc etc etc? $40k is pretty reasonable to completely re-buy a house worth of stuff in the case of a catastrophic loss.
nickb800: I might be going against the grain here, but I dont think a degree of self-insurance is a bad idea.
The most likely incident requiring a draw-down on your insurance would be burglary, in which case a low level of cover would almost always cover (unless the thieves take a truckload of stuff!).
Worst case is probably a full house fire, and yes there would be a tonne of stuff to replace, but again the likelihood is pretty low. Given the low probability of that, would it be such a bad thing to draw $10-20k from your savings to supplement $10k from the insurance company?
linw: Correct me if I am wrong, but I think some bad calculations are being made here.
If you have $20K of stuff but only insure for $10K, the insurance co. won't pay you $10k if half of it gets nicked. They will pay you half of that to match your half cover.
|
![]() ![]() ![]() |