Insurance Q?

[GREENBACK]

We were recently hit by a windstorm that knocked down a powerline and caused a power surge throught the house. We lost our computer and a nice Kitchen aide stove as well as some small items and a few food items. Total cost to replace all lost items will be about 2k or so. Not a huge loss but a loss nonetheless. I have the money to cover this in my EF but of course I could get an insurance claim to take care of this as well. My question is, is it worth it to do this? Will this result in higher premiums down the road that might negate any short term savings here if I go with the Insurance. I also may have to have a roofing job done soon due to hail damage that was from another storm. I know insurance companies frown on multiple claims in a short period of time. I've already replaced the computer out of pocket and may replace the other things like that as well. I was wondering if anyone has had a similar experience and was it better to replace it on your own or to file a claim. My homeowners insurance is through State Farm.

[noppenbd]

Depends on your deductible but I would lean to say don't file the claim. Our deductible is $1K so in our case definitely not. Also, the insurance is probably going to depreciate your computer a lot so you may not even get enough to replace it.

[disneysteve]

I would not file a claim. Most insurance companies have a limit of 2 claims in 5 years. After that, they will drop your coverage and you are left trying to find coverage as a high-risk customer. It isn't worth it.

Pay the bill and move on. Save the insurance for serious claims only.

[GREENBACK]

Thanks for the info.. My deductible is $500. I was in between on this one and was leaning towards not filing a claim. I can replace the lost items out of pocket and I needed a computer upgrade anyway...lol.

[maat55]

Make sure your computer is blown. I recently had the same thing happen and all I needed was a new power box. Only cost 35.00 for the part and was easy to replace yourself.

[GREENBACK]

I'm pretty sure it's blown. Got my speakers and cable modem as well. I was planning an upgrade for work requirements anyway, so it's not the worst thing, but I'll remember to check that in the future.
Thanks

[cooliemae]

I might suggest that you make sure that you have a power surge protector on all of the equipment you value. Make sure that the surge protector meets the need of the equipment. I've saved my computer several times from power surges.

[snafu]

Before filing a claim with State Farm for anything [roof or computer/stove] check out your eligibility for insurance from other providers. If you use an agent they can find the best deal in the quickest time frame.

State Farm will define you as high risk even if you phone to ask advice about a particular item. I called to ask about brands of dead bolts having had a claim 5 years previous. As luck would have it, I had a break-in within the next five years and was dropped with no notice. I had to find a new carrier within 30 days of their notice date.

I have heard disney steve's statement repeated about State Farm from several sources. They have been one of the most difficult insurers to deal with for claims for Florida and New Orleans.

After arranging for new coverage, it would be safe to instigate a claim with State Farm. Have a look at what ING offers for example

[GREENBACK]

Thanks Cooliemae,
I had a cheap surge protector on it (not smart). It was a used computer bought from a friend for about $200 so not a great loss I now have a much upgraded and better computer and will definitely get the proper surge protector for it and other items I replace.

[GREENBACK]

I heard State farm was difficult to deal with for the folks on the Gulf Coast. I have all my insurance with them and have for years. I've made a couple of claims over the years and have had no issues. I have a 20 something year track record with them though so maybe they factor that in. Gotta' love those ins. companies. They're happy to take your money but sure don't want to give any back.