Mailing List lml@lancaironline.net Message #12496
From: <Theo.Green@firstar.com>
Subject: RE: Help with insurance
Date: Wed, 6 Mar 2002 14:58:19 -0600
To: <lancair.list@olsusa.com>
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A couple of points regarding insurance (not coming from an expert):

Make sure your policy doesn't have limits on the replacement value, etc. If
the policy only pays out the cost to replace the home, then the 100K or so
in airplane parts won't be covered, given a total loss.

Also determine how depreciation will affect the claim -- I was surprised
when I found my 5 year old tools were worth nothing after they were
stolen...

You may have to add an endorsement to the policy. My policy (now USAA)
won't cover the airplane parts -- but it's a tricky situation, depending on
the description. You can usually purchase separate policies to cover
expensive jewelry or classic cars, etc. I imagine airplane parts falls into
this category. I prefer to "self-insure" my stuff and roll the dice.

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