H20insurance deductible

[BrotherBear]

I'm about to renew my H20 equipment insurance and on rereading the clause regrding the deductible I have to admit complete confusion...talk about legalese!

The verbiage is here:

https://www.h2oinsurance.com/insurance_sample_documents.asp?id=dp&i=2

To me it appears as if the deductible applies per item, even if several items are lost in a single event. If so then it certainly isn't worth insuring items worth less than several hundred dollars! The deductible is $100 for most losses and $250 or 10% (whichever is higher) for flood losses.

Anyone know the facts of this?

TIA

 

[muddiver]

Switch to State Farm.

 

[2 Big 2 Fail]

Not very clear, is it? But I read it as the "total" applying to both, saying there are two numbers:

The total adjusted amount of the claim.

The total insured amount of what you valued equipment that was affected.

The first might be smaller than the second, but the first can never be more than the second, because you can't claim loss for more than you insured for.

Obviously, they will not pay, nor can you claim, more than what you valued the lost equipment. And they might adjust to less than the value you declared, since equipment might not be totaled. So they deduct from the lesser amount, which is just what you expect with insurance. In other words, it's not a replacement value policy. Normal deductible is $100. For water loss, it at least $250.

I expect they had electronic in mind when they jacked up the water loss deductible.

You can, of course, write and ask them, and they will generally be bound by their answer. But the $100 deductible per incident is pretty standard insurance stuff.