DIY projects and renter's/homeowner's insurance

[jonathanb3478]

So, it occurs to me that I will have a few thousand dollars of DIY speakers, and possibly another $1K in DIY amp(s) in the distant future.

I am thinking that, between all three of my systems, those numbers will be reached easily. It will take a bit, but I think it will happen.


So, I will be getting renter's insurance in November, when I switch car insurance companies. Lets say my apt complex goes down in a fire, and it is a total loss. I know I can get reimbersed for things like my LCD HD TV, but what about what I have spent on my DIY projects?

Any thoughts from anyone on this?

What about reimbersement for the "labor", since that will have to be replaced as well? :twisted:

Just something I got to thinking about recently, but I have no answers for myself.

[cjd]

You have to work it out with your insurance company. You'll need to document materials cost, and you should have no trouble recovering that at the very least. Whether labor is covered is harder - they usually want an appraisal, and that can be tough to get (not to mention it may not be cheap). I'm still working out some of the details around this with my company - I have a lot of original artwork I have done over the years, and I can NOT get it all appraised - it would bankrupt me.

C

[---k---]

Maybe you could have a friend of yours sell you your speakers on Ebay. Then you'll have a receipt from buying them to give the insurance company. Though, this would probably be considered fraud.

[jonathanb3478]

Maybe you could have a friend of yours sell you your speakers on Ebay. Then you'll have a receipt from buying them to give the insurance company. Though, this would probably be considered fraud.

Hmm...

I think I will steer clear of felonies.

:E

[dynamowhum]

Pictures of everything/anything of value is a good idea as well.I agree with C just approach your insurance company and see what they need.

[yousuredo2]

cain't you state a value for them, and insure them for that...?

[Dennis H]

Yup, pictures and save receipts for the drivers and XO parts. For the cabinets, if you happen to know a cabinetmaker, you could probably slip him a $20 bill to write a quick note on his stationery saying he has looked at your speakers and would charge approximately (not a firm bid, that takes too much of his time) $x labor and materials to replace what you have. It would take him 5 minutes and he'd have lunch money.

[cjd]

Actually, getting a cabinet maker to appraise/value the cabinet is probably a great way to go. They may have an official fee, but you want it to be an official appraisal. That way it's not the electronics being rated, but the stuff that took the time (crossover design aside)

C

[jonathanb3478]

Actually, getting a cabinet maker to appraise/value the cabinet is probably a great way to go. They may have an official fee, but you want it to be an official appraisal. That way it's not the electronics being rated, but the stuff that took the time (crossover design aside)

C

This would take the place of the ~$200 receipt for the veneer and the materials cost, correct? I would just ask someone doing the appraisal to count materials cost, right? Or just labor for that appraisal, and my receipts for material cost?

When I ask for the insurance quote, I will run these questions by the agent. I suspect she has not had similar questions before, and I would like to be able to make specific suggestions/what ifs.

Thanks guys, excellent ideas.

[cjd]

You want finished cabinet price. Assume you no longer have any desire to MAKE the cabinet, so you would actually use said builder. Add component cost to that (crossover parts, wire, terminals, drivers, feet, stuffing, etc.)

C