time is money BUT insurance premiums are money that goes OUT


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Subject: time is money BUT insurance premiums are money that goes OUT
Name: ludicrous
Date: 6/5/2001 2:22:46 PM (GMT-7)
IP Address: 138.67.69.229
In Reply to: System value assessment... posted by SickOfItAll
Message:

basically, if a catastrophe destroyed your posessions, how much money do you want to get back in turn?

Time is money and adds to the value of the system if you're selling it, but IMHO it may be unwise to include it in an insurance estimate.

Talk to your insurer about what scale of dollar values they use to bracket off premiums -- remember, the insurer is going to assess your premium according to the declared value of property.

If you inadvertently declare property value up into a new bracket, unless by some freak chance a tornado carries your house off to Kansas tomorrow morning you may more than pay out the difference in higher premiums before making a claim (if ever).

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