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Projects Homeowner's Insurance Won't Cover Parts?

Discussion in 'The Hokey Ass Message Board' started by Abomination, Jan 25, 2010.

  1. Abomination
    Joined: Oct 5, 2006
    Posts: 6,719

    Abomination
    Member

    My basement/garage flooded, as the pipes in my house were going to freeze and the water department never came out to turn it off (I found out three weeks after I asked them to, after it had been spraying everything full-blast for a week)!

    I lost a lot of stuff. Some of my parts got wet. Here's the kicker:

    American Family is telling me that homeowner's insurance does not cover auto parts. Like at all. When I called up and asked what kind of insurance I could get to cover them, they told me it didn't exist, and there was no way I could insure loose parts unless they were for a vehicle I had a policy on.

    But what about the engine "collection" most of us have?

    They said I was S.O.L.

    So - my question to you is this: do any of you guys have any insurance that covers loose parts, and what's that type of coverage called/where can I get it?

    ~Jason
     

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  2. Abomination
    Joined: Oct 5, 2006
    Posts: 6,719

    Abomination
    Member

    The motors can be saved - not much damage beyond maybe spray, etc - or at the very least, a hot tanking and a rebuild. I plan on going after the water dept for whatever insurance doesn't cover - just to address that.
     
  3. storm king
    Joined: Oct 16, 2007
    Posts: 1,989

    storm king
    Member

    I had a break in several years ago, and one of my motorcycles, and all of the parts I had accumulated for it (mostly NOS stuff) was stolen with it. I had a very organized parts area in my home shop.
    Allstate didn't bat an eye, they ponied up with full current retail value of all those parts. This was the garage attached to my house. Fortunately, my bike was insured by itself (although I should have been carrying collectors vehicle insurance) so that was taken care of.
    You company may not cover the parts, but just for grins, I'd call Allstate and ask them if they woould in a similar case. I've found they are the best when you cover everything with them.
     
  4. RustyShackleford
    Joined: Jan 25, 2010
    Posts: 32

    RustyShackleford
    Member

    that sucks man. good luck. i say go get what yah can from the water co.
     

  5. synthsis
    Joined: Mar 29, 2006
    Posts: 1,899

    synthsis
    Member

    typically you can take out a premium with your company on just about anything, sometimes called a ZZZ policy. I used to have one on my car stereo since it was worth more than the car itself. haha. sad, but true. You might want to look into something like that, maybe from another insurance carrier.
     
  6. Are you sure those things in your basement, that resemble engine stuff, isn't your inventory for your auto inspired art collection? Descriptions mean a lot.

    I would suggest not giving into the AMFAM CR . Ask them to put their denial in writing , site the part of the policy that is applicable and ask for a upper level supervisor to endore the letter. Send this request in writing by certified return receipt mail.

    Here is a little story from the past on AM FAM claims policies. Its a couple of year old but things are still similar.


    http://www.thedenverchannel.com/news/7011681/detail.html
     
  7. Swifster
    Joined: Dec 16, 2006
    Posts: 1,455

    Swifster
    Member

    Jason, take a look at your policy. I can't say for certain without looking at your policy, but homeowners can cover parts.

    But if they are parts that belong to a car in your garage, they are not covered. They would fall under any coverage you have on the car. Parts that do not belong to a currently owned car should be covered. If you talked to your agent, go past him to the claims department. If the claims department denied your claim, ask for the specific wording in the policy. It's a fine line on coverage, but it may be there.

    Oh, one other thing (and it's been a while since I read up on this), there may be a limit on the amount of parts covered. Maybe $1500 depending on the policy. Again, you need to read the policy for the specifics.
     
    Last edited: Jan 25, 2010
  8. whid
    Joined: Jun 20, 2008
    Posts: 452

    whid
    Member

    sorry for your troubles,I took a large hard one from Erie Insurance Co. in 1997. Pond Scum broke into a rented Building and stole my fresh 350 and freshly rebuilt TH350.lost some tools and my heat source as well....was denied anything automotive on the claim.bastards gave me $600 for tools then took out a $100.00 for the deductable...Had I known this the F'rs WOULD have stolen alot more tools...You get F'd for being honest.....Hope yours works out..........Dave
     
  9. 40Standard
    Joined: Jul 30, 2005
    Posts: 5,963

    40Standard
    Member
    from Indy

    gee, I never thought of this, thanks
     
  10. Swifster
    Joined: Dec 16, 2006
    Posts: 1,455

    Swifster
    Member

    I'm just using this as an example. Collector car insurance, or your car insurance provided it's in force, will (would have) covered the engine and transmission. Collector car insurance companies do cover construction of the car. It will also cover the parts of the car if someone breaks in your garage.

    Homeowners will cover car parts, but it's a fine line. Tools, heaters, etc., are all covered by homeowners. But trying to remember what you have after it walked away is hard to do. Yes, it's boring, but make a list of the tools you have. If you are going to mark them with a number, use your driver's license number. Cops don't have a way of checking social security numbers in a cop car. Also, take pictures of your garage at least once a year. Open the drawers and get pictures of the tools.

    Another thing to keep in mind. Homeowners with replacemenmt cost will only pay replacement cost up to a certain limit. Once it exceeds this limit, the insurance company only has to pay you ACV (actual cash value). In other words, the depreciated amount. You then have 6 months to replace the stolen items and they will reimburse you the difference. And yes, even the insurance guy has had to go thru this. When you get your check, go out and buy. Take your receipts in and get more money. The insurance company should be giving you a basis for the settlement. So they should be able to show what was paid 50% or 60% and what was paid at 30%.

    Again, as will the car, it's up to you to prove your loss.
     
  11. h.i.
    Joined: Jan 29, 2007
    Posts: 456

    h.i.
    Member
    from denver

    Those parts should be covered under "contents" especially since they were inside. Allstate told me I was SOL because my parts were outside and uncovered. They also said they were too old "to be used for the original intended purpose". They also have a cap on parts "not attached to a vehicle" of $2000. Basically, the scumbags can weasel out of pretty much anything they want. If the loss is substantial, you could call the insurance regulatory commission in your state and see what they have to say. It's like having a lawyer write a letter and can be very effective. Just don't roll over and let them rip you off. They are counting on you to take whatever they offer you because it is too much hassle for most of us to fight them.

    I'm not bitter, tho, haha.
     
  12. h.i.
    Joined: Jan 29, 2007
    Posts: 456

    h.i.
    Member
    from denver

    Sorry, Swifster made a great point, too. Keep track of all your parts purchases for exactly this purpose. Dates, place purchased, what you paid and actual value. This would have helped me make more of a case for that part of my loss.
     
  13. Swifster
    Joined: Dec 16, 2006
    Posts: 1,455

    Swifster
    Member

    First, if it's in the policy that you have a $2000 policy limit, that's the amount they owe. Remember, these are car parts, not home furnishings. The too old part doesn't really fly as the policy doesn't have an age limit. If you have a project car, get it insured (Hagerty, Grundy, etc.).

    Now if you have one of those large garages that has neon lights hanging on the walls and parts for brick-a brack, you could have an arguement. But you better hope you have a car guy adjuster and you took photos before hand.
     
  14. Mr48chev
    Joined: Dec 28, 2007
    Posts: 33,861

    Mr48chev
    ALLIANCE MEMBER

    There always seems to be an "oh by the way" when dealing with insurance companies on something like this.

    But I have one question. Outside of just flatassed not being there to be able to shut off the water to the house yourself is there a reason you or yours couldn't shut the water off? It's been 33 years since I lived in town but every house I had in town had a valve at the meter box that you could go out and turn off yourself if you had problems with the pipes in the house. It usually doesn't take much of a tool to shut the valve off. You may have a hard time going back on the water company even though you called if it was something you could have easily done yourself.
     
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  16. Bagged n Chopped 40
    Joined: Oct 10, 2008
    Posts: 60

    Bagged n Chopped 40
    Member
    from Derby, CT

    I have a 68 Chevelle that I was trying to get insurance on as a "vehicle under construction" to cover my a$$. Grundy told me the vehicle has to be 80% done to get the coverage. Grundy&#8217;s 80% done is the vehicle drivable. They want a total value and pics of everything which is no problem. They only cover what&#8217;s on the vehicle and not the parts waiting to be put on. If my car is drivable then why would I want to put "under construction" insurance on it I told the agent! Insurance companies want to take more money in then they dish out so their wallets get fatter like all corporate companies.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:eek:ffice:eek:ffice" /><o:p></o:p>
     
  17. Karl Wescott
    Joined: Aug 29, 2007
    Posts: 77

    Karl Wescott
    Member

    Amen.

    Everyone should have the tools and know how to shut off the water, heating fuel (natural gas, propane, fuel oil) and electrical for you house and any out buildings. May come in handy for the next earthquake, hurricane, flood or other natural nasty. In our area the word is if the BIG ONE comes don't expect the fire dept or anyone else to show up for maybe three days (and I am on the fire dept).<!-- / message -->
     
  18. UA_HoBo
    Joined: Dec 16, 2009
    Posts: 108

    UA_HoBo
    Member
    from Oswego NY

    There are tons of high dollar race cars around here and guys always say if there is a fire get in the shop and take some of the car appart so that its covered. I am not an insurance guy but to the best of my knowledge you should be covered. I had a logsplitter stollen this year out of my yard an Liberty Mutual bent over backwards to make sure i was compensated
     
  19. My homeowners policy covers anything I own, anywhere in the world. My agent told me that when my tools were stolen from my truck when I was in a restaurant one morning. The deductable did apply though..
     
  20. 59 brook
    Joined: Jun 12, 2005
    Posts: 1,016

    59 brook
    Member

    try looking up a public adjuster in your area they maybe able to help you. they usually work on a commission basis so it doesn't cost anything if they don't get anything
     
  21. titus
    Joined: Dec 6, 2003
    Posts: 5,145

    titus
    Member

    My American family insurance agent said my car parts are covered.

    Hes been over and seen my collection and said no problem, take pics, make an inventory list if anything ever does happen.

    as long as the parts are not on the car they are covered.

    JEFF
     
  22. bobj49f2
    Joined: Jun 1, 2008
    Posts: 1,926

    bobj49f2
    Member

    I had two incidents with American Family insurance. The first one mice got into my pop up camper and tore it apart. When I called my agent at the time, he hee hawed about it not being covered by mouse damage, only big animals like raccoons. I asked what the difference was and he said raccoons can cause real damage. I told him to come out to look at the damage the mice did. He didn't want to help so I called the company direct and talked to some one there who asked me who told me the camper wasn't covered for mice, he said it didn't matter what kind of animal did the damage, it was covered for animal damage. That afternoon the agent's secretary called and had an adjuster come out. They paid the full bill to have the camper fixed. Two year later I had the same thing happen, again the agent started the same BS, I just told him to get some one out there to look at it. American Family totaled the camper and settled with a nice check. Got rid of that agent after the check was issued.

    Second time was a few years back. My wife called me at work and told me to come home, the attached shed on the back of the barn collapsed from the snow and we had a dozen animals trapped inside. We got the animals out and called the insurance company. The next day they called to inform me I didn't have snow damage coverage. I was amazed, I told the guy we live in SE Wisconsin and we do get snow. His response was that my agent should have had it included in our policy. I called the agent, different guy, and had a intense discussion with him. The next day he called back and told me they were rewriting the policy and back dating it so the building was covered. We had to pay something like $100 but had the building covered for $40K.

    Jason, you may want to go over your agent's head and talk to some one at the insurance company directly. My latest agent confessed that although he's been selling insurance for 30+ year he doesn't completely understand all of the small print in the insurance contracts.
     
  23. Swifster
    Joined: Dec 16, 2006
    Posts: 1,455

    Swifster
    Member

    Have your agent put that in writing and sign it. Every homeowners policy I've ever seen states that when 'work' equipment is taken away from home, the limit is usually $500 depending on the policy. Items taken from home are a different matter. Believe me, as someone who carries around a $2K computer, the last thing I want is having stolen away from home. Now if the tools are your 'personal' tools, he's correct.

    But someone who works outside the home with their tools (mechanic, plumber, carpenter, etc.) has a limit if taken from a job site. You can get a rider for those tools in that instance and in some cases the business you may work for will cover the loss. A friend of mine is a mechanic and has about $20K in tools and a box the size of a small VW. I have business insurance so it's covered either way.
     
  24. Swifster
    Joined: Dec 16, 2006
    Posts: 1,455

    Swifster
    Member

    Not entirely correct, but close. If you are working on your RPU, and the radiator shell was stolen while off of the truck, it falls under the car insurance for the RPU. If these are 'spare' parts, then the answer is yes. I know it's spliting hairs, but that is how the policy reads.
     
  25. Swifster
    Joined: Dec 16, 2006
    Posts: 1,455

    Swifster
    Member

    Agents are given no training what so ever. As I've found out, the insurance companies keep the sales agents and the claims staff as far away from each other as possible. And this isn't just this company.

    Another reason for the agent to try and poo-poo the claim is that it goes against their loss ratio. In fact many agents will pay out of pocket on small losses so that it doesn't effect this.
     
  26. The last time I went to the local Pull-A-Part was over ten years ago. I had some parts I had just purchased, along with my "jumkyard toolbox" which I had with. Paid for the parts, took the tools and some of the parts to my Suburban and loaded them, then went back to the office for the remainder of the parts. Loaded up, drove home. Got home, unloaded, and guess where my toolbox was? NOT in my truck! Some yard rat stole my damn box while I was in retrieving the remainder of the parts! Plus, I had locked the truck prior, and it was locked when I came back out.

    Long story short, I filed a complaint with the local PD, the yard owner said "tough shit, not my problem!", and I filed a claim with my insurance (Allstate at that time). They covered it under my homeowner's policy. I knew every single tool I had in that box, and was able to provide a detailed description. Plus, not long before, I had even taken a picture of the box and contents with my then-new camera, for practice. I'm glad I practiced!
     
  27. titus
    Joined: Dec 6, 2003
    Posts: 5,145

    titus
    Member

    Yep, i agree, but thats not what said, i just said parts, which i meant spare parts. but if i have a fire and some parts for a project are in another building how would they ever know what car they are for?

    JEFF
     
  28. Homeowner's insurance generall does NOT cover parts. My little tornado event meant my shop had collapsed, destroying many valuable parts. The insurance paid $2,000 for the spare parts, which was all they were obligated to, under the terms of the policy. I learned right then to NEVER take what is written in the policy for granted! Extra stuff like that costs additional money. They'll insure it as a rider on a policy, but you have to be very detailed, and have pictures, value, receipts, etc, of EVERYTHING you want covered on that rider. As an example; I have a small Diesel tractor with attachments. That is extra cost. Earthquake insurance is additional cost, for me; about five dollars/year. Anything can be added to a homeowner's policy, within reason, for surprisingly little money.

    What you CAN do is deduct the losses on stuff that was destroyed or damaged, that was NOT insured, as a loss on your taxes for that year. You had better be able to document that loss and not make shit up. I had quite a bit of uninsured loss from the tornado.
     
  29. Lefty
    Joined: Jul 28, 2001
    Posts: 91

    Lefty
    Member

    I was in claims for 10+ years. Like someone mentioned earlier most likely covered up to a limit. They may be balking over the three week delay. Keep asking. No is not always no in the insurance world. Nice and persistent wins most of the time. Companies like people nice and quiet. They don't want anyone getting off the merry go round or telling others to get off. Good luck.
     
  30. Abomination
    Joined: Oct 5, 2006
    Posts: 6,719

    Abomination
    Member

    Still no word from the insurance company. I figure they'll call in the next day or two, and I'll address it with them then. As for addressing it with my agent, apparently they're just money takers/salespeople and the adjuster is who to talk to.

    I'll let y'all know what happens. Some of you folks may want to check your policies/ask questions so you son't end up like me. Hell, even like an extra $10/mo on your policy might save you from this mess.
     

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