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RE: Interesting Insurance Article Concerning HiFi.

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Don Reid

A

In Reply to: RE: Interesting Insurance Article Concerning HiFi. posted by howard on May 09, 2025 at 04:20:03

Thanks for your very informative article, Howard. Coincidentally I recently visited my State Farm agent to inquire about a rider on my home insurance to cover my stereo system. I was told that State Farm, at least here in Georgia, doesn't sell riders for home electronics.

My stereo is a relatively modest one. Replacement of the components would probably cost about $60,000.00. Replacing LPs and CDs is a different matter. I know I should change insurance companies, but damnit, Ive been with State Farm since 1970 and they have always treated me well.
I dream of an America where a chicken can cross the road without having it's motives questioned.

Follow Ups:

Matter of perspective - DustyC 08:26:46 05/09/25 (2)
Ironic. You can get insurance for a $60,000 car, but not for a stereo. Far more risk in replacing a car than a stereo couped up in a house.
Maybe try finding another insurance company just for the equipment? They'll want proof of actual value.
- Proof of actual value ? - AbeCollins 09:47:42 05/10/25 (1)
  That made me laugh. We're talking about audiophile electronics aren't we?
  
  ;-)
  - Yeah, I know,.. - DustyC 06:52:59 05/12/25 (0)
    $60,000 was the number quoted. Is that what he paid? Or what it's worth now (used)?
    By proof I would use the possible used and sold values of the same items he has. (Audiogon, Ebay, etc.
As a comedian said - the difference between these fires - jedrider 07:48:47 05/09/25 (2)
and other fires is that people 'owned stuff' and, sometimes, lots of stuff.
- RE: As a comedian said - the difference between these fires - beach cruiser 14:20:20 05/09/25 (1)
  media coverage, if you have recordings, is often specifically excluded, so that is also an area of concern. I would go to a multi line agent and at least check it out, since farmers is unable to match your needs. farmers didn't come off well in the recent California fires, with the tv news reporting it was slow to pay and getting sued , in contrast to other insurers.
  
  of course with TV news, they never go beyond a headline, and there could easily be mitigating details involved.
  - HOW ABOUT... - saintjean 10:47:13 05/11/25 (0)
    HOW ABOUT...
    
    Getting a Permit to Make Sales at Retail, and selling a few old LPs on eBay at very competitive prices(and hand over the Sales Tax, and then declaring that you are in the Used-LP Business (a home-based business), and you want Business Insurance on your Inventory and your equipment.
    
    Your money is green, I assume they will be happy to take it. It doesn't hurt to ask them to quote a price.
    
    The real Risk you present is far smaller than a family of three, where two of them frequently "Drive Buzzed." And the possible Loss the insurance company might have to make good on is far smaller than that of a bad auto wreck with hospital-grade injuries.
    
    Saintjean
    (Former Insurance-Company Lawyer!)

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