Would anyone know how a DVD collection would be covered under an HO6's personal property covereage? I have a customer who is concerned about some hard to replace and rare DVD's. Just curious to know if anyone is aware of any exclusions. I've read the policy and the only thing close is where it talks about business software. I know it's kind of an odd question. Just thought I'd put it out there and see if anyone has had prior experience with this.
DVD Collection Under HO6 in FL
- Thread starter darcabre
- Start date
- 325
Depends on the carrier. If in doubt, call your underwriter... that's what they get paid for. On the customer end, anything of value like that should be scheduled with as much documentation as possible. "A picture is worth a thousand words" 
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The policy contains sublimits on certain types of personal property. Such as, jewlery, watches or money. There should be no sublimit on DVD's. Unless the damaged or stolen DVD can be replaced the burden will be on the insured to prove the value. Find out if a miscellaneous scheduled property floater that allows the insured to list each DVD with a value is available. If so, you may want to offer that to the customer. 
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I have to say this is a stupid question, call your friggin U/W......
second, who ever commented that this should just be covered under personal property....well, in "general" terms, your probally right, but with ANYTHING that is rare or if there is an excessive amount, say a few thousand dollars in CD's, then ya, you better call an U/W for an anwser!
Glad you arent writing my policies.
second, who ever commented that this should just be covered under personal property....well, in "general" terms, your probally right, but with ANYTHING that is rare or if there is an excessive amount, say a few thousand dollars in CD's, then ya, you better call an U/W for an anwser!
Glad you arent writing my policies.
Hey Red Blood, if you knew about an HO-6, you would know that since Dvd's in general do not have a limitation to them, so you could have answered dar's question. You could say, "Mr. and Mrs. Jones, thank you for that interesting question; since you have replacement cost, the company will spend the least reasonable amount to replace all of your Dvd's." The perils are limited to the "named perils" unless you offered them an open peril rider for contents that some companies offer. RBA, was that so hard to explain? Your responses all seem to be negative. This forum is here to increase agent's knowledge not to put down everyone who you think has a "stupid" question. By the way, I think your answer was "stupid" for not being thorough! I'm not sure how rare any DVD's could be as DVD's only came out in the mid 90s, maybe 1996, and I bet rare ones are available on Ebay or the like. What I worry about are really rare collections that customer's have like 200 to 300 year old furniture that was a one-of-a-kind when it was built. Those items can be really hard for your client's to replace, because they are truly "rare".
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Kman,
I dont understand why a agent comes to this BB to ask a specific question, when every single policy is written different and different state rules apply in every single state. Does the OP really want MY answer when I am in AZ and everything is completely different?
Why come here to get a dozen DIFFERENT answers, when their best/smartest/EXPECTED option is to call THAT companies Underwriters who should know their policy inside and out? In a case like this, I would EMAIL my U/W and wait for their reply IN WRITING as proof. If this agent really takes the word of US from this BB and the answer is most likely wrong because of different states, rules, ETC....well, then that is that agents own fault.
I have had this same situation, asking about a $25,000 rug brought over from Iraq, a $10,000 puter colllection, etc etc, I would personally NEVER come to a BB to ask a specific coverage question, in fact, it never crossed my mind, I call or email THAT companies U/W and/or ask a agent friend of mine who works in the SAME state and has the SAME company......
So Kman, ask me a coverage question, I might not even have the same company your asking about and I dont have a clue what the rules are, how that SPECIFIC policy is written in YOUR state, or how specifically that policy is written or the details of it.
I dont understand why a agent comes to this BB to ask a specific question, when every single policy is written different and different state rules apply in every single state. Does the OP really want MY answer when I am in AZ and everything is completely different?
Why come here to get a dozen DIFFERENT answers, when their best/smartest/EXPECTED option is to call THAT companies Underwriters who should know their policy inside and out? In a case like this, I would EMAIL my U/W and wait for their reply IN WRITING as proof. If this agent really takes the word of US from this BB and the answer is most likely wrong because of different states, rules, ETC....well, then that is that agents own fault.
I have had this same situation, asking about a $25,000 rug brought over from Iraq, a $10,000 puter colllection, etc etc, I would personally NEVER come to a BB to ask a specific coverage question, in fact, it never crossed my mind, I call or email THAT companies U/W and/or ask a agent friend of mine who works in the SAME state and has the SAME company......
So Kman, ask me a coverage question, I might not even have the same company your asking about and I dont have a clue what the rules are, how that SPECIFIC policy is written in YOUR state, or how specifically that policy is written or the details of it.
- 322
While i wouldnt be brutal to the OP...I'm not here that often and I'm typically doing the asking not the answering...however RBA's answers are usually more helpful than not. RBA has a point.
To the OP I would definately take any opportunity where a policy holder is specifically concerned with anything they own as an opportunity to pivot to a personal articles policy (floater) While yes you want to be able to get a vague answer from the underwriter which you probably will your best bet is to tell them what the U/W told you and then ADVISE them why you recommend strongly the floater so that in case anything happens there is no question about the coverage.
To the OP I would definately take any opportunity where a policy holder is specifically concerned with anything they own as an opportunity to pivot to a personal articles policy (floater) While yes you want to be able to get a vague answer from the underwriter which you probably will your best bet is to tell them what the U/W told you and then ADVISE them why you recommend strongly the floater so that in case anything happens there is no question about the coverage.
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