Meridian Unplugged - Powered by MrTechGuy.co.uk Forums Discussion Off Topic Hifi Insurance

Can anybody recommend HIFi insurance in the US? I may consider taking out a second policy just for my Meridian/home theater items if available.

Thanks,
John

John,

Chubb will insure high dollar items. I believe my State Farm insurance covers me with a rider, but now you have me calling to double check.

Dave

I was previously with Hiscox until they tried to increase the premium by almost 30% this year, despite me not making a claim.

I am now covered by NFU Mutual, the Meridian kit items and my projector are all listed and full cover is no problem.

Hiscox did same for us but we're still with them due to inertia

Duncan

My Hiscox has increased by 13.5%. Also stuck with inertia

Just been shopping round for building and content insurance and decided to change back to DirectLine.

On finalising the online quote, there was a section about specifying high risk/valuable items over �2000. As its a new for old policy, decided to specify my DSP5k's at finger in the air value of �7000. Even though there was a specific drop down for 'hifi', it told me that I did not have to specify them as they were not classed as high risk/valuables. So I didn't specify them. May be different if I wanted to take them outside the home but I didn't select that option...

Does one insure for new or current replacement value? I've never known.

Depends. If they're current models, new prices. If they're discontinued and you don't want the closest new model, current value. For example, I would want to replace my D5Ks with more D5Ks rather than 5200s. No point in insuring my kit for more than the replacement value, in my case.

Here in Austria near every insurance company can cover that in the "house/flat" insurance. As the whole M equipment is not cheap, you can upgrade the value of your standard contract. It's important is to have a "recover" and not a "time or age value" insurance. The age value cover only percentage of the new value and I think after 5 or 10 years that value is zero.

The "recover" doesn't pay the new price when the equipment was bought (the official retail price), but you get the money for an equal "replacement".

That could be lower or even higher when the product is not product anymore.

The usual case is that prices for electronic is going down over the years, but it could be also opposite. Of coarse, a insurance expert decide what is an replacement, so you can be on the lucky side or not - the definition of replacement is different for the insurance companies.

Also ask very precise which risk are exactly what are covered in your insurance, a typical example is "direct" or "indirect" lightning.

Direct means when your house get the lightning shot and indirect when (for example) the mains get the strike and so your mains are "out of spec".

I was covered very well when a lightning had destroyed nearly all electrical equipment in the house, as the company was very fair for the definition of replacement.

For example, I had a good CRT about 1 year old that time, that I bought for the very good picture-better then the LCD screens at that times.

So I got not the money for a LCD what even had some better technical specs, as the picture quality wasn't good as that from my CRT. So I got the money for a good plasma screen what have a similar picture quality. So the expert accept/decide in that case the true replacement - that is not happened every time. So take care about the definition of replacement.

Robert

I use T H March for all household stuff. our challenge is that with most companies, you need to have a certain % value for "normal" stuff, and so if your contents are just high end gadgets and jewellery then the numbers don't add up. They consider hifi (whatever level) as "electrical items" and so goes in the mix.

For example, Direct Line premier service means your "listed items" have to be 20% of the value, so if I have a �30 grand hifi and a �10 grand watch, I need �200 grand of contents cover....(which I don't need)

TH March specify everything within the value of the contents, with no limit on single item. I told them I was swapping 5200's for 7200's and they said it didn't matter as long as the total contents was enough. Only thing you list are things that go out of the house, so watches, jewellery, laptops and camera gear. I think my policy is called Homecover Elite and if you happen to have a collection of fine art and antique guns as well they'll cover that!

Direct Line are one of the biggest time wasters I can think of. I have never received a cheaper quote for any insurance I've bothered to enter my details for, so now I no longer bother.
Or to put it simply: wasted time still equals wasted money.

Both Marks & Spencer and John Lewis offer unlimited contents and building insurance, underwritten by AXA Insurance.