All of us here need to always be on top of our game with being properly insured because we may be caught with our pants down. I last did an inventory with an insurance agent in 2013 where we checked everything from spoons to undies. Every year my insurance goes up in premium and in cover but I have not updated it in years despite many changes in the value of my possessions.
They increase the value of replacement by about 10% annually but audio gear has see inflation that?s much higher than that which may end up with one being underinsured. Another caveat is the discontinuation of models with new models being super expensive vs. what one has. I just checked with HFX and the last price they had on the 802D2 was R210k and the D3 which are the equivalent are selling for R526k.
A friend lost TVs, an Audio Research power amp and other valuables and the6 paid him R25 k because he was under insured. How should one ensure optimal cover in light of inflation, product discontinuation, etc to ensure that should the time come to claim, one is not under insured.
Mods please move this to the right section if this is not the place
They increase the value of replacement by about 10% annually but audio gear has see inflation that?s much higher than that which may end up with one being underinsured. Another caveat is the discontinuation of models with new models being super expensive vs. what one has. I just checked with HFX and the last price they had on the 802D2 was R210k and the D3 which are the equivalent are selling for R526k.
A friend lost TVs, an Audio Research power amp and other valuables and the6 paid him R25 k because he was under insured. How should one ensure optimal cover in light of inflation, product discontinuation, etc to ensure that should the time come to claim, one is not under insured.
Mods please move this to the right section if this is not the place
