All Boats Gone...bad Day.
02-08-2011 | 09:35 AM
#45
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Joined: Jun 2006
Posts: 14,914
Likes: 1
From: Lake Conroe, TX.
I live with that fear every day with my toy box as well.
As a long time homeowners claims adjuster I can give you a little guidance on the rest of the stuff.
Your homeowners policy probably excludes the big stuff, boat, cars, 4 wheelers etc.
What it will cover are tools, boxes, clothes, whatever else you had stored over there that would be an extention of the garage at your house. Focus on the stuff that is not included and get a detailed inventory with pricing verifications from the web on the replacement item of LKQ )like kind and quality.
Most policies say that contents (def: personal property that you own that is not part of the buliding structure or defined as a building - that is the short definition) up to a certain amount is covered anywhere in the world. This clause is literally meant for stuff like luggage and personal property that gets lost on vacation or stolen, and in this case, stuff stored off premise.
Explore this avenue and don't be timid when negotiatin, you will be surprised how much cash you can recover using this route and there is the possibility that you have RC, Replacement cost, provision on your contents policy.
As far as the large lost items. Go see your accountant/ tax preparer. As an uninsured loss, these items are likely tax deductible. With something of this size depending on your incoime level, you might want to carry the loss forward for a few years.
You will likely need DENIAL letters from your individual carriers for the large items that you want to write off on your taxes, but these are easy to obtain.
Good luck to you, and I am really sorry to see this happen to someone, as I am scared all the time of this happening to me as well.
As a long time homeowners claims adjuster I can give you a little guidance on the rest of the stuff.
Your homeowners policy probably excludes the big stuff, boat, cars, 4 wheelers etc.
What it will cover are tools, boxes, clothes, whatever else you had stored over there that would be an extention of the garage at your house. Focus on the stuff that is not included and get a detailed inventory with pricing verifications from the web on the replacement item of LKQ )like kind and quality.
Most policies say that contents (def: personal property that you own that is not part of the buliding structure or defined as a building - that is the short definition) up to a certain amount is covered anywhere in the world. This clause is literally meant for stuff like luggage and personal property that gets lost on vacation or stolen, and in this case, stuff stored off premise.
Explore this avenue and don't be timid when negotiatin, you will be surprised how much cash you can recover using this route and there is the possibility that you have RC, Replacement cost, provision on your contents policy.
As far as the large lost items. Go see your accountant/ tax preparer. As an uninsured loss, these items are likely tax deductible. With something of this size depending on your incoime level, you might want to carry the loss forward for a few years.
You will likely need DENIAL letters from your individual carriers for the large items that you want to write off on your taxes, but these are easy to obtain.
Good luck to you, and I am really sorry to see this happen to someone, as I am scared all the time of this happening to me as well.
