[woodsyi]

It has occured to me as my insurance policy is being renewed that I don't have specific provision for audio gear.  We have specifically added a few of my wife's jewelry but I think I have more "invested" in my audio gear.  Do I need to specifically list my audio gears on the policy to be covered or are they covered under general property?

Come to think of it, what about thousands of CDs and LP's?

[chosenhandle]

with my policy, I didn't need a special rider, rather I kept the receipts and video taped my equipment with comments. My policy has a high enough replacement cost component to cover the equipment.

It is best to contact your agent and find out how your insurance carrier views your equipments.

[woodsyi]

I guess I should make a list and call my agent.  He is going to freak out on the cost of all the OS tubes. 

[BradJudy]

I recently made a home inventory using this free software from the Insurance Information Institute: http://www.knowyourstuff.org/

It's set up so that you create an entry for each room of your house, then create items in each room.  Each item has pre-defined fields for make/model/serial/value/etc and allows you to import a picture of the object and a picture of the receipt.  It also lets you import general pictures of each room and the outside of the building. 

You can then print out a copy and store it somewhere safe.  I also used a PDF print driver to create a more portable electronic copy. 

I imagine if you need to expand your policy to specifically include things, this would be a very helpful starting point.  It includes sub-totals by areas (like electronics, jewelry, art, etc). 

[macrojack]

If you ever have a claim you will need to prove what you lost and what it was worth. In certain situations this could require a notarized witness statement and video footage. Cds and the like are not a problem because everybody has them and their value is commonly established. Tubes, on the other hand, could arouse skepticism as to why anybody would own them and what they could be worth. To the average insurance adjuster, they are obsolete yard sale curiosities.

Thieves are looking for things they can sell quickly and your tube amp will not attract that kind of attention. It is likely though that your DVD player and television would be the first things out the door.

As for fire and natural disasters, I guess you have to keep detailed records off site. If you say your refrigerator was worth $1800 nobody will doubt you but tell them you lost $18,000 worth of speakers and you might have a fight on your hands.

[woodsyi]

I recently made a home inventory using this free software from the Insurance Information Institute: http://www.knowyourstuff.org/

It's set up so that you create an entry for each room of your house, then create items in each room.  Each item has pre-defined fields for make/model/serial/value/etc and allows you to import a picture of the object and a picture of the receipt.  It also lets you import general pictures of each room and the outside of the building. 

You can then print out a copy and store it somewhere safe.  I also used a PDF print driver to create a more portable electronic copy. 

I imagine if you need to expand your policy to specifically include things, this would be a very helpful starting point.  It includes sub-totals by areas (like electronics, jewelry, art, etc). 

This is a great tool.  Thanks.  I am not worried about theft as much as fire and natural disaster.  I don't expect to file claims ever but it would make sense to make sure there is coverage.

As for fire and natural disasters, I guess you have to keep detailed records off site. If you say your refrigerator was worth $1800 nobody will doubt you but tell them you lost $18,000 worth of speakers and you might have a fight on your hands.

This is what I was thinking. 

[Housteau]

Sales receipts are good, but if you purchased your gear at a low cost below list that is what you will receive back, assuming you have full replacement cost on your insurance coverage.  If you have older models that are no longer in production, it is best to have proof of what the original list prices were for those items.  You can get them from old magazine reviews etc.  As long as it is in print somewhere that should be good. 

I have a separate fire proof box for old magazine reviews and anything that shows what I have and what it originally cost.  If they are newer items then I have the person I bought them from write them up to reflect the list price, just for insurance reasons.  Along with those are photos of everything.

My policy has full replacement cost on these items and I do not need a special rider attachment.  However, I have scheduled other valuable items that I own, such as several antique weapons.  Scheduling things ahead of time removemes much of the hassle if you do suffer a loss and doesn't cost anything to have done.  So, I am considering scheduling my major audio components.  I feel it would be easier to go through this trouble now, then dealing with insurance questions later.