- Frugal Renters Insurance - 5 Updates
| Beaver_Fever@live.com: Jul 21 10:42PM -0700 On Thursday, July 20, 2017 at 2:31:15 PM UTC-7, BigDog811 wrote: > e. Cash value vs. replacement value - People get confused about these. Cash value is the depreciated value of the item. Depending on what it is, and how old it is, it may be worth nothing from an insurance stand point. > f. Liability - Most renter's policies, unlike homeowner's, don't cover liability for injuries and losses of other people's property in your home. That's one the reasons they're so cheap compared to homeowner's policies. > Read the actual policy. Don't rely on an agent to explain things to you. They're written in plain english and very easy to understand. Thank you very much, I am going to get on this for real early next week. I really prefer to talk to someone in person. There is an insurance office a block away which is a good starting point. And some of the questions the online quotes were hitting me with, like do you have a roommate? Well, yes but he won't be involved in the least. Once upon a time it never meant too much because my most valuable possessions were things that are also completely irreplaceable. But for the most part now if this place gets burned down, I need to have a roof over my head with a computer and back to work ASAP (I work from home on my PC). Other things I am debating the utility of is a safe and safety deposit box. |
| BigDog811 <bigdog811@gmail.com>: Jul 22 06:50AM -0700 > Once upon a time it never meant too much because my most valuable possessions were things that are also completely irreplaceable. > But for the most part now if this place gets burned down, I need to have a roof over my head with a computer and back to work ASAP (I work from home on my PC). > Other things I am debating the utility of is a safe and safety deposit box. No, you don't want a home safe. Anything that will give you the degree of security and fire protection to make them worth the bother are expensive as hell. A small heavy duty 1.5 to 2 cubic foot safe with a basic combination lock rated for 1 hour 1500 degree fire protection will cost you at least $1,000.00. And the sky's the limit from there. Anything that costs less is a waste of money, no matter what the manufacturer or other people tell you. At best, they only keep curious finger out of your stuff. They don't even slow down a real thief. And in case of a serious fire anything inside that's flammable will be ashes. You can pay rent on a safe deposit box for a decade or more for what a small safe worth having costs. Safe deposit boxes are an entirely different matter. We've always had one, and consider it an essential living expense like groceries, utilities and transportation. If your bank or credit union doesn't have them you need to change to one that does. That's where you want to keep all of those critical documents you'll need to prove who you are these days. Birth certificates, Social Security cards, marriage license, military records (DD 214), passports, car titles, wills, insurance policies, etc, et al. Losing any or all of those items will cause you no end of trouble if you ever need them. That's also where we keep a number of silver and gold coins we own, as well as a very expensive piece of jewelry my wife inherited but doesn't like and doesn't wear, along with a few important mementos that have little intrinsic value but are irreplaceable. |
| Beaver_Fever@live.com: Jul 22 09:30AM -0700 On Saturday, July 22, 2017 at 6:50:18 AM UTC-7, BigDog811 wrote: > > But for the most part now if this place gets burned down, I need to have a roof over my head with a computer and back to work ASAP (I work from home on my PC). > > Other things I am debating the utility of is a safe and safety deposit box. > No, you don't want a home safe. Anything that will give you the degree of security and fire protection to make them worth the bother are expensive as hell. A small heavy duty 1.5 to 2 cubic foot safe with a basic combination lock rated for 1 hour 1500 degree fire protection will cost you at least $1,000.00. And the sky's the limit from there. Anything that costs less is a waste of money, no matter what the manufacturer or other people tell you. At best, they only keep curious finger out of your stuff. They don't even slow down a real thief. And in case of a serious fire anything inside that's flammable will be ashes. You can pay rent on a safe deposit box for a decade or more for what a small safe worth having costs. Wow, got it. Was thinking gun, credit cards, concert tickets etc. There are serious hoarder issues here so hiding cash isn't a problem. Just slip it in a CD case (CD's are no longer hot items for thieves). And I would lock it to the gorilla rack like my computer is (the kind of locks they have at public computers, outdoor tables etc). > Safe deposit boxes are an entirely different matter. We've always had one, and consider it an essential living expense like groceries, utilities and transportation. If your bank or credit union doesn't have them you need to change to one that does. That's where you want to keep all of those critical documents you'll need to prove who you are these days. Birth certificates, Social Security cards, marriage license, military records (DD 214), passports, car titles, wills, insurance policies, etc, et al. Losing any or all of those items will cause you no end of trouble if you ever need them. That's also where we keep a number of silver and gold coins we own, as well as a very expensive piece of jewelry my wife inherited but doesn't like and doesn't wear, along with a few important mementos that have little intrinsic value but are irreplaceable. I don't yet have a will. I know I should. I once had something rudimentary scribbled out. In addition to birth certificate and SS, I really need a place to keep some account information and passwords in case anything happens to me, my business interests (which contain many expiring items that aren't always appropriately priced) can be preserved, otherwise tens of thousands of dollars are in danger of going up in smoke. Usually my attitude was I don't care, I will be dead but I worked too hard and took too many risks to get here to just light it all on fire. |
| John Weiss <jrweiss98155@comcast.net>: Jul 22 11:38AM -0700 >>> Other things I am debating the utility of is a safe and safety deposit box. >> No, you don't want a home safe. Anything that will give you the degree of security and fire protection to make them worth the bother are expensive as hell. A small heavy duty 1.5 to 2 cubic foot safe with a basic combination lock rated for 1 hour 1500 degree fire protection will cost you at least $1,000.00. And the sky's the limit from there. Anything that costs less is a waste of money, no matter what the manufacturer or other people tell you. At best, they only keep curious finger out of your stuff. They don't even slow down a real thief. And in case of a serious fire anything inside that's flammable will be ashes. You can pay rent on a safe deposit box for a decade or more for what a small safe worth having costs. > Wow, got it. Was thinking gun, credit cards, concert tickets etc. There are serious hoarder issues here so hiding cash isn't a problem. Just slip it in a CD case (CD's are no longer hot items for thieves). And I would lock it to the gorilla rack like my computer is (the kind of locks they have at public computers, outdoor tables etc). A safety deposit box is no place for a gun. it is also VERY inconvenient for things you use often, such as credit cards. Hopefully you have the gun locked away from your roommate, preferably in a dedicated gun box ($100-200) bolted to a desk, dresser, or bed. Another such box may be useful for your credit cards and other small items (e.g., backup drive for your computer). A home safe IS a good idea, regardless of what others may say. it WILL stop the casual thief, and WILL give some protection from a brief fire and subsequent water damage. After all, you now have NO protection, so ANY protection is better! You can get a 19 cu ft gun safe (good for several rifles plus a bunch of other stuff) for $600 or so; smaller gun safes (too small for rifles) may be a bit cheaper, but not much. You can bolt the safe to the wall and/or floor from the inside, making it much more difficult for a thief to take the entire safe. |
| ItsJoan NotJoann <itsjoannotjoann@webtv.net>: Jul 22 05:20PM -0700 > I am going to get on this for real early next week. > I really prefer to talk to someone in person. There is an insurance office a block away which is a good starting point. Unless you like spending all day running from office to office why not just phone different agencies? > And some of the questions the online quotes were hitting me with, like do you have a roommate? Well, yes but he won't be involved in the least. He may not be on the lease but he is potential hazard. Does he smoke? Is he careless with cooking and leaving burners on? If you have a grill would be careless around it as well? That's just a few of the reasons they want to know if there will be a roommate. > Other things I am debating the utility of is a safe and safety deposit box. Why do you need a safe? The bank can provide you with a safety deposit box. |
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