Insurance companys @#$%%^ here we go

[Dave]

got the forms from the insurance company today.. The form said I had to obtain a copy of the report from the state police??? I call em and the nice young lady told me pretty much to tell AAA to kiss my ... They dont just give em out and the insurance company sends em a sase and they send it to them. She said they just try to get you to get it quicker than they can...
Heres another good one 2 pages with boxes for 32 items? hell they got my whole tool box and tools ... The other one that really gets me is if your items stolen were gifts you need a letter from the gift giver with date of purchase the price phone number and addy of the gift giver and it has to be signed and dated... Ya right...  I did get the estimate on the broken doors covered today and they should see that soon and im starting my list of tools tonite. Im not listing any of the gift tools.. I dont need to replace the cheap off brand gift stuff.  Oh ya then there is the purchase date price and replacement price boxes.... Ok sure I know the date of everything i bought the serial numbers etc etc.. If I get thru this with out loosing my azzz ill have more reciepts than they ever seen if it ever happens again. And i sure hope it doesnt.. Video your stuff guys and gals you cant be too careful im a beliver now...
Dave

[enjenjo]

Boy, this sounds familiar    

[47wood]

Sadly, I've been there.  I believe some of the things they ask for were designed by the guys in the "how can we cut down on the claims $$$ dept."  You're right ...video and save receipts ...the gifts are a tough ones, and sometimes some of your nicer stuff too.  Good Luck.  

[Crosley.In.AZ]

I sorta feel your pain, never been there though with tools &  boxes.  Insurance companies are no fun to deal with period.  Most agents are so * stoopid that I have delt with , how they find their office day after day is amzing.

At my work place the boss lady came around 2 years ago.... she asked us to itemized our tools , thier value each and total value.

Out of 4 guys I was the only one that listed every tool , each with a price. The other guys dork'd around for months. I am not sure if they all did it or not.

while I was at it , i took photos.. digital and film of each drawer.

The insurance company at work will cover my tools and boxes to $10k.  

I was over that amount  a little  bit

[BELLM]

Dave I don't know how Michigan insurance policies work, I am assuming this is a homeowners policy.  In Texas you can purchase replacement cost coverage for additional cost,  They will pay the cost to replace the item with a new item, but only after you present receipts to prove it has been replaced.  Otherwise they pay you replacement cost less depreciation according to age.  I think the average life of hand tools is around 20-25 yrs per insurance  charts, not sure.  Hell, some of the best sockets I have are Wizard brand, bought @ Western Auto with money from my first paying job when I was 13, 44 yrs ago!!  Most of my Snap-On came from a locked leather bag attached to a wrecked repoed Harley I bought from a bank in 1976.  How would I explain that to ins co?
Put the cheap tools in whether you intend to replace them or not, don't leave anything out, because they will figure depreciation.  Make copies of the blank sheets so you will have enough.  Get a Craftsman or similar tool catalog, it will remind you of stuff you forgot you had, give you a good source for replacement cost unless you had Snap-On. No one who has a lifetime collection of tools can reasonably be expected to remember date place purchase price of each tool, just estimate, if you can't remember lean toward newer, remember that bad word DEPRECIATION.  Older they are more they are depreciated.  Dont leave anu tools out, no matter how cheap. When filling out the sheets it is easier to list prices for sets, sets of sockets, sets of wrenches etc.  If you can't find receipts just tell them that, if push comes to shove I'm sure you have friends who have seen or used your tools that could sign notarized affadavits if insurance company gives you crap.  If you can go ahead & get a copy of the police report, easier you make it on the insurance adjuster the easier it will be to work with them. About all I can think of right now, sorry to be so long winded but tryingto help.  Oh yeah, if they don't treat you right most states have a state board of insurance, you can file a complaint.  Don't lose your temper (like I do ), be nice, polite & professional & helpful to the adjuster, will make the process go smoother, unless the adjuster is a complete *.  Don't ask me how I know this, but people who act nice, try to help with the process, etc  get treated, and paid, a helluva lot better than the *.  If i can help e-mail me Eddie_Bell@msn.com.

[Bob K]

Dave I don't know how Michigan insurance policies work, I am assuming this is a homeowners policy.  In Texas you can purchase replacement cost coverage for additional cost,  They will pay the cost to replace the item with a new item, but only after you present receipts to prove it has been replaced.  Otherwise they pay you replacement cost less depreciation according to age.  I think the average life of hand tools is around 20-25 yrs per insurance  charts, not sure.  #####, some of the best sockets I have are Wizard brand, bought @ Western Auto with money from my first paying job when I was 13, 44 yrs ago!!  Most of my Snap-On came from a locked leather bag attached to a wrecked repoed Harley I bought from a bank in 1976.  How would I explain that to ins co?
Put the cheap tools in whether you intend to replace them or not, don't leave anything out, because they will figure depreciation.  Make copies of the blank sheets so you will have enough.  Get a Craftsman or similar tool catalog, it will remind you of stuff you forgot you had, give you a good source for replacement cost unless you had Snap-On. No one who has a lifetime collection of tools can reasonably be expected to remember date place purchase price of each tool, just estimate, if you can't remember lean toward newer, remember that bad word DEPRECIATION.  Older they are more they are depreciated.  Dont leave anu tools out, no matter how cheap. When filling out the sheets it is easier to list prices for sets, sets of sockets, sets of wrenches etc.  If you can't find receipts just tell them that, if push comes to shove I'm sure you have friends who have seen or used your tools that could sign notarized affadavits if insurance company gives you crap.  If you can go ahead & get a copy of the police report, easier you make it on the insurance adjuster the easier it will be to work with them. About all I can think of right now, sorry to be so long winded but tryingto help.  Oh yeah, if they don't treat you right most states have a state board of insurance, you can file a complaint.  Don't lose your temper (like I do ), be nice, polite & professional & helpful to the adjuster, will make the process go smoother, unless the adjuster is a complete *.  Don't ask me how I know this, but people who act nice, try to help with the process, etc  get treated, and paid, a helluva lot better than the *.  If i can help e-mail me Eddie_Bell@msn.com.

Eddie you got it nailed.  
I am an insurance agent and you have just described the fastest way to get a claim paid. The adjuster isn't trying to be a *. These people have bosses and get audited by them, if there is a claim paid without proper documentation, they could lose their job. They realize that not all of the receipts are available.

One tip that I tell my clients. Take a digital camera and take PICTURES of each drawer in your tool box and also of the all of the other tools in the shop. That shows the adjuster that you are not blowing smoke. After all he doesn't know you from Adam and let's be honest about this.  There are people out there that will try to take advantage of this type of a situation. If your treat them with respect and are honest with them you will get a fair settelment.

B  B

[47wood]

The comment about friends signing an affadavit is a good one.  Several years ago I had golf clubs and bag stolen out of my garage in broad daylight.  Produced a receipt for the bag but couldn't for the clubs and all the stuff in the bag.  The insurance company accepted affadavits from 2 friends that had played golf with me, seen the clubs and stuff in the bag.  They paid off with no more questions.  

[Dave]

Dave I don't know how Michigan insurance policies work, I am assuming this is a homeowners policy.  In Texas you can purchase replacement cost coverage for additional cost,  They will pay the cost to replace the item with a new item, but only after you present receipts to prove it has been replaced.  Otherwise they pay you replacement cost less depreciation according to age.  I think the average life of hand tools is around 20-25 yrs per insurance  charts, not sure.  #####, some of the best sockets I have are Wizard brand, bought @ Western Auto with money from my first paying job when I was 13, 44 yrs ago!!  Most of my Snap-On came from a locked leather bag attached to a wrecked repoed Harley I bought from a bank in 1976.  How would I explain that to ins co?
Put the cheap tools in whether you intend to replace them or not, don't leave anything out, because they will figure depreciation.  Make copies of the blank sheets so you will have enough.  Get a Craftsman or similar tool catalog, it will remind you of stuff you forgot you had, give you a good source for replacement cost unless you had Snap-On. No one who has a lifetime collection of tools can reasonably be expected to remember date place purchase price of each tool, just estimate, if you can't remember lean toward newer, remember that bad word DEPRECIATION.  Older they are more they are depreciated.  Dont leave anu tools out, no matter how cheap. When filling out the sheets it is easier to list prices for sets, sets of sockets, sets of wrenches etc.  If you can't find receipts just tell them that, if push comes to shove I'm sure you have friends who have seen or used your tools that could sign notarized affadavits if insurance company gives you crap.  If you can go ahead & get a copy of the police report, easier you make it on the insurance adjuster the easier it will be to work with them. About all I can think of right now, sorry to be so long winded but tryingto help.  Oh yeah, if they don't treat you right most states have a state board of insurance, you can file a complaint.  Don't lose your temper (like I do ), be nice, polite & professional & helpful to the adjuster, will make the process go smoother, unless the adjuster is a complete *.  Don't ask me how I know this, but people who act nice, try to help with the process, etc  get treated, and paid, a helluva lot better than the *.  If i can help e-mail me Eddie_Bell@msn.com.

I do have a replacement cost rider on all my personal possesions. I dont know how they can put a time limit on tools that can be replaced when they wear out or break. Its a real pain to get the copy of the police report but I did download the form from the mich state police. You cant just walk in and get one. I guess I didnt realize that Id have to buy tools to get money back I was assuming I could just wait for the check and go shopping. Maybe its different with AAA.. I did go with socket sets and wrench sets etc etc but  I know now that im not going to get everything . I remember the day i was working on sumpin metric and needed a 6 point socket instead of a 12 point so I went to sears and bought all 6 point 1/4 3/8 and 1/2 drive sockets in metric.. I did have if not 2 ,3 of everything but im really trying to get enuff tools replaced to at least have a full set of everything i need so I prolly wont have 2 or 3 sets anymore but thats not the end of the world. Last year I remembered that I had a sears gift card and grabbed it and bought some torx and allen sockets just to use the card. I rarely had to buy a tool to work on anything. Oh well we shall see how it goes. The estimate for the broken doors is gonna be about 2800.00 alone plus the tools. This is getting to be more of a pain in the azzz every day. I havent even got 3 pages of tools done yet and yes im using the sears tool catalog.  I guess I dont under stand the depreacition (spelling) when ive got replacement coverage? Im paying for replacement value so thats what im going for.

Dave

[MrMopar64]

Just wondering......... How can the insurance company depreciate a tool that has a LIFETIME warranty on it? At that point it is as good as NEW forever no matter how old it is........  :?

MM64  

[manyolkars]

faat rod!  When I was burglarized recently, the cops asked me if I had my items marked.  I told the cop, if I started doing that today, and did nothing else for 8 hours a day, I might be finished in 10 years.
    If you only own a few items that might work.  My main building is 40 X 135. It is PACKED.  think-Narrow trail.  Then there is the rest of my stuff. I have been told I am sitting on a millon dollars of stuff (so what).  N8DC is correct that he will get ripped off AGAIN by the insurance company.   I have been insured on multiple vehicles (many ol cars) trucks, motorcycles, multiple  houses I rent out, plus my own  for 37 years.  In 37 years, I filed one  claim. Got $2500 for roof repair.  
           EVERYONE knows to not file any claims because the insurance companies will raise your rates and get the money back from you.    To add furthur insult, the extremely wealthy insurance companies have paid crooked lawmakers to make insurance MANDATORY.  Ya know, if no one had insurance, no one would need it. There would be no reason (money) for the crooked lawyers to pursue.
 Insurance companies love to quote their (fabricated) claims that they are victims of insurance fraud.    If they treated the public honestly, the public could consider treating the insurance companies honestly.   The public reacts in kind to the way they are treated.  
     This reminds me of Doctors who earn so much money they cant think of how to spend it all. They give some to charity, poor folks.  If the Doctor didnt overcharge the patients so much we wouldnt have as many poor folks.
    The entire point of this thread is that insurance is a fraud. It is a socialist concept. Its design is so the only ones to come out ahead is the insurance company.

[Dave]

Ok lets keep this civalized at least. I was just stating what the insurance company stated in the cover letter they sent me and what the state police told me and the deal on the gifts and such. I dont want to see this thread get out of hand and BOB is a good buddy and I didnt know he worked for an insurance company but it doesnt matter cause everyone needs a JOB.
I think its more what am i getting for my money from them..  
Just so we dont get out of hand here. I do understand  :?: Insurance companys Ya Right.... Im just relaying my experience and my stupidity for not documenting all my stuff . I understand your collection might be way more than mine but I learned the hard way.... document everything with paperwork and pictures or video. I got robbed and im not happy..
Dave