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01-18-2009, 06:03 PM #1
Does anyone know...
If house insurance will cover a huge stockpile?
I've been thinking about this since reading the thread about the huge pantry. The owner of the pantry had stockpiled for 2 years and was planning on stockpiling for even longer.
I had never thought of this before, however would household insurance cover this is something was to happen, like a fire, tornado and such? Does anyone know?
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01-18-2009, 06:17 PM #2Registered User
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Ours does ~ USAA. If I lose power for a long time and lose everything in my freezers, all I have to do is call and give them an estimate and they reimburse.
They also reimbursed dry goods I had stored in my laundry room when we had a flood from a broken washer hose.Nancy
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01-18-2009, 06:38 PM #3Moderator aka AmyBob
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Huh...I never would have thought of that!!!
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01-18-2009, 06:49 PM #4Moderator
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I think it would be a good question to ask your insurance company. And receipts would probably be a good idea.
That kind of stock pile is not the norm.
The insurance company probably would insure it, under a rider policy.
For example, I wear hearing aides. Insurance company does not cover them in my regular plan, but will insure them for a additonal $ 100 for a rider plan.--------My signature--------
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01-18-2009, 07:43 PM #5Registered User
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Yes, I agree. this is a little unusual so you would probably want to check with your agent and take a video of the stockpile (keep it in a fire safe or in another location), keep receipts and find out if they require a rider to cover that amount of food items/stockpile.
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01-18-2009, 07:45 PM #6Registered User
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the thing with receipts for you us folks..is that lots of it is free...
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01-18-2009, 07:48 PM #7Moderator
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My homeowners insurance covers contents of my house. I consider a food stockpile to be contents of a house. I would maybe call your insurance agent to see what your specific policy covers.
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01-18-2009, 08:29 PM #8Registered User
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As a P&C insurance agent...
I would advise you to check you policy and verify with your agent. Depending on the type of policy you have and what coverages you have, it may or may not. Also, there may be exclusion that would come into effect. Most replacement cost home policies will cover $250 for food dmg in a freezer (considering how much stockpiling that goes on here, that would be FAR too little) and this is built in coverage (I've never seen a policy where you could raise this limit). I'll be honest, you have me stumped. Wed. when I go back to work, I will check my companies policies and get back to you with a better answer, but remember, every policy is different. Take care and God bless.
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01-18-2009, 10:58 PM #9Registered User
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Originally Posted by celina
Not positive, but I think it would still be based on the value and cost to replace.
Theresa
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01-19-2009, 08:46 AM #10Registered User
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My policy covers all food replacement. I did have to put that into action. We get a side of beef every year from a farmer. I only paid a $1.64 a pound for the meat but they paid to have it all replaced. Tbones at that time were $12.99 a pound. They paid in full.
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01-19-2009, 09:02 AM #11
USAA does, i inquired about it last month when i updated my homeowners.
11% gross to retirement
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freedom accounts/sinking funds that ebb and flow
then live on the rest!
i am trying something new. LDS church advises savings or debt repayment should be the same as the tithe. 10% each.
"i create prosperity, abundance, and savings for me and my household"
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01-19-2009, 01:41 PM #12Moderator
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I think they would but would need to have a better understanding of the amount of food a "stockpile" could contain. Take pictures or take an inventory and show it to your representative. Let them know that this is your normal amount and have them put their answer in writing.
I'm sure they don't get too many claims for 8 bottles of shampoo and 16 tubes of toothpaste and 3 cases of diced tomato... etc. on a regular basis. heheheThe Free Spirit Saver who walks the path with Greebo.
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01-19-2009, 04:33 PM #13Registered User
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Yup- I have USAA too- but since we rent, our renter's insurance covers the same. Originally Posted by nancycg56
OT: When we moved to Germany, we found out it's highly encouraged to get pet insurance for each of our 4 pets. It's insurance to cover if our dog bites someone or one of our indoor/outdoor cats do damage to someone's yard. I called up USAA and pet damage is INCLUDED in our renter's insurance !! Sorry...I love USAA and always love talking about them
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