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Homeowners Insurance and Protecting your investments RC Jets

Old 02-24-2016, 05:53 PM
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mikes68charger
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Default Homeowners Insurance and Protecting your investments RC Jets

Ok. This is not my first house I have always used USAA insurance for everything since I've been in the military but now that I am stationed in a separate location form my family and I'm currently buying an investment houses. I plan on living in for the next 5 years and I have since become more addicted to RC never thinking I would have several jets that I have over 4K in

I have a 6 x 12 enclosed trailer that I park next to my garage which I sometimes keep my planes and while the trailer is covered by my auto policy and the contents of the trailer in the garage are covered by your homeowners insurance.

I sometimes leave my jets in my trailer and I am worried about the possibility of ever having to file a claim on personal property on any of mine JETS or large RC planes as I do not have receipts for any of my RC stuff except for my turbines.

have you ever had your house is broken into and have a file a claim on personal property with your RC items and were reimbursed without a lot of drama?

USA told me as long as I have pictures and I have not filed a claim before they would take me at my word at replacement value of my items but their homeowners insurance is two times more than the local competition.

so I guess what I'm asking is is there homeowners insurance company that you had good results with When it comes to your RC items
Old 02-24-2016, 06:29 PM
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Originally Posted by mikes68charger View Post
Ok. This is not my first house I have always used USAA insurance for everything since I've been in the military but now that I am stationed in a separate location form my family and I'm currently buying an investment houses. I plan on living in for the next 5 years and I have since become more addicted to RC never thinking I would have several jets that I have over 4K in

I have a 6 x 12 enclosed trailer that I park next to my garage which I sometimes keep my planes and while the trailer is covered by my auto policy and the contents of the trailer in the garage are covered by your homeowners insurance.

I sometimes leave my jets in my trailer and I am worried about the possibility of ever having to file a claim on personal property on any of mine JETS or large RC planes as I do not have receipts for any of my RC stuff except for my turbines.

have you ever had your house is broken into and have a file a claim on personal property with your RC items and were reimbursed without a lot of drama?

USA told me as long as I have pictures and I have not filed a claim before they would take me at my word at replacement value of my items but their homeowners insurance is two times more than the local competition.

so I guess what I'm asking is is there homeowners insurance company that you had good results with When it comes to your RC items
Yes. My garage was broke into and stole a ATV and also broke into my airplane room that joins the garage. All of my jets hang from the ceiling except for the one 1/6th F18 that was on the work bench being built. The SOBs took a hammer off the bench and beat it all to pieces but took nothing other than the ATV. My Insurance has been with Farmers Ins for years. They paid full replacement cost of the jet. They did have a hard time believing that it cost as much as it did though.
Old 02-25-2016, 03:28 AM
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YES! This was my saga back in 2003, and my entire RC collection along with tools, equipment, etc. were stolen.
http://www.rcuniverse.com/forum/rc-j...ome-found.html


At the time I was with Nationwide and they were excellent. I had started a claim; and provided pictures, website pages, RCU classified ads, receipts, etc. as proof and the basis for replacement cost of all the items. The claim was approx. $19K before I got the call from the police, but dropped to $10K after the recovery of some of the planes. They never gave me a minute of grief over the claim, but I think because I provided them with so much documentation showing prices/costs, they just paid.

My experience may or may not be typical and might be dependent on the company involved. I say this because a buddy of mine just text me the other day asking about this particular incident because his stuff just got stolen from a trailer at his house and they do not want pay/cover because the contents were not used for the house or some nonsense like that. He never told me the company, and never heard back from him.
Old 02-25-2016, 04:08 AM
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mikes68charger
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Originally Posted by George View Post
YES! This was my saga back in 2003, and my entire RC collection along with tools, equipment, etc. were stolen.
http://www.rcuniverse.com/forum/rc-j...ome-found.html


At the time I was with Nationwide and they were excellent. I had started a claim; and provided pictures, website pages, RCU classified ads, receipts, etc. as proof and the basis for replacement cost of all the items. The claim was approx. $19K before I got the call from the police, but dropped to $10K after the recovery of some of the planes. They never gave me a minute of grief over the claim, but I think because I provided them with so much documentation showing prices/costs, they just paid.

My experience may or may not be typical and might be dependent on the company involved. I say this because a buddy of mine just text me the other day asking about this particular incident because his stuff just got stolen from a trailer at his house and they do not want pay/cover because the contents were not used for the house or some nonsense like that. He never told me the company, and never heard back from him.


Hood info. If you could call your buddy so we all know maybe this is a company we should not work with. Thanks guys. This is good info
Old 02-25-2016, 06:31 AM
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Originally Posted by mikes68charger View Post

I have a 6 x 12 enclosed trailer that I park next to my garage which I sometimes keep my planes and while the trailer is covered by my auto policy and the contents of the trailer in the garage are covered by your homeowners insurance.

I sometimes leave my jets in my trailer and I am worried about the possibility of ever having to file a claim on personal property on any of mine JETS or large RC planes as I do not have receipts for any of my RC stuff except for my turbines.
Hey Mike,
Correct me if I'm wrong, but I've been told by an insurance agent that the trailer and contents are only insured when it's attached/hitched to an insured vehicle (your truck). But if your trailer is parked in the garage/barn/other structure, then yes it would be covered by the homeowner insurance. If the trailer is parked on your property and gets stolen or broken into, then I would imagine it's also covered by Homeowners insurance.

I've used USAA for the past 35+ yrs and have been taken care of, however, I've only filed a claim (auto) only once.

Tom
Parker, CO
Old 02-25-2016, 07:38 AM
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Like George said, I think it is very dependent on the insurance company. Most have limits on categories ie.. electronics, furniture, jewelry etc... so if you want full replacement of contents, you will pay more for that policy. You may also have to add riders for specific categories. Bottom line is to have all your possible scenarios that you want full coverage for written down and call your insurance company and get answers. Some companies won't offer compensation for certain items/situations even if you are willing to pay extra for it. This is from my own experiences.
Old 02-25-2016, 08:29 AM
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Originally Posted by George View Post
YES! This was my saga back in 2003, and my entire RC collection along with tools, equipment, etc. were stolen.
http://www.rcuniverse.com/forum/rc-j...ome-found.html


At the time I was with Nationwide and they were excellent. I had started a claim; and provided pictures, website pages, RCU classified ads, receipts, etc. as proof and the basis for replacement cost of all the items. The claim was approx. $19K before I got the call from the police, but dropped to $10K after the recovery of some of the planes. They never gave me a minute of grief over the claim, but I think because I provided them with so much documentation showing prices/costs, they just paid.

My experience may or may not be typical and might be dependent on the company involved. I say this because a buddy of mine just text me the other day asking about this particular incident because his stuff just got stolen from a trailer at his house and they do not want pay/cover because the contents were not used for the house or some nonsense like that. He never told me the company, and never heard back from him.

fid they reimburse you full cost or used value?
Old 02-25-2016, 08:43 AM
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It was sort of a combination of the two because I used RCU Classifieds to show some values of the planes, and I used new prices for the equipment. Basically they gave me the exact dollar amount I put down for everything and showed proof of its cost. It's not like furniture, cars, household items that the insurance companies have "data" for so I gave them all the proof I thought they would need; and it turned out to be enough or more than enough. I also was "fair & realistic" in my assessments, and was not out to screw the insurance company, I just wanted due compensation for the loss and was more than happy the way everything was handled.
Old 02-26-2016, 09:04 AM
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I've not had a claim on my models but I have had issues with different insurance companies about whether or not they'll even cover the models. I had one tell me that if anything had an engine on it in the house, it would not be covered. I had another one who said they'd cover the models under a rider but it was pretty spendy, then they wanted itemized lists of the equipment and prices of each model. I had others who just flat refused to cover the models.

I've since gone with Liberty Mutual. They cut the prices of my house and cars and they cover the models without a rider. I've got pictures of the jets and Pattern planes with basic equipment lists of the higher priced components but don't really have much on the gassers.

We'll see if it works out should I have a claim but as of now, I'm very pleased with the CS and prices.
Old 07-11-2020, 07:54 AM
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I guess that everyone has to think before making and investment in order to be saved. This is logical
Old 07-11-2020, 10:28 AM
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Where I live I don't really have to worry about theft, but does anybody insure their aircraft against crashes? There is a guy at my field that says he has all his giant scale aircraft insured for crashes. I have three jets valued at $6-10k each that would be nice to have piece of mind insurance against crashes, if such an insurance really exists
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Old 07-11-2020, 11:09 AM
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Originally Posted by bodywerks View Post
Where I live I don't really have to worry about theft, but does anybody insure their aircraft against crashes? There is a guy at my field that says he has all his giant scale aircraft insured for crashes. I have three jets valued at $6-10k each that would be nice to have piece of mind insurance against crashes, if such an insurance really exists
I've heard of one person getting a replacement from a crash from his homeowners insurance, but I don't know how or have any other particulars. Would be nice though.
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Old 07-15-2020, 07:25 PM
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I lost my house to a fire in 2016 and was insured with USAA. They only covered the current replacement value of the parts of my jets, as per manufacturer website, and would not cover any labor to get the replacement airplanes ready to fly.

Heaven forbid you have a total loss, I would not expect them to payout what is required to get you back in the air.

It's worth noting that the AMA $1,000 insurance coverage for loss was very easy to file and get paid for. It impressed me.

Mark
Old 07-16-2020, 03:13 AM
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Several years ago I flew with guys that added an “all risk rider” to their homeowners policy. One used it to get an $8000 claim when he crashed his 40% IMAC plane. I immediately asked my insurance agent to quote me the same rider. Surprisingly, it was not very expensive to add it to my policy. He did explain to me that if I were to crash one of my large planes that they would pay me replacement cost, but that there was also a good chance they would not renew my homeowners policy the following year and that I may be placed in a pool or high risk group. I decided that if I couldn’t afford to lose the plane that I shouldn’t be flying it in the first place
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Old 07-18-2020, 11:09 AM
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Because of my location I get dropped from time to time by my Homeowner's due to wild fire risk (thanks PG&E). Happened for the second time this year and I had about two weeks to get another company lined up. As it turns out, the only one that would insure us, AND did not cost a silly amount of money, has effectively a NO DRONES CLAUSE. They specifically ask if you have a "drone" on the property. I'm sure if they saw my planes and helis they would lump them into that category, but I said no because I reject the label. It's absurd. But beyond that, they also specifically exclude any liability caused by model aircraft. Have not ever seen that. Anyway, if you have Guard Homeowners (a Berkshire Hathaway company), you could have this problem. I'm assuming that if I submitted a claim for a stolen model, damaged due to break-in, etc it could create all sorts of problems so I won't even try.

Plan to switch companies next year, hope it's just this company and not a new thing we will all have to deal with.
Old 07-20-2020, 12:20 AM
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Just take everything into consideration before and everything will be fine.
Old 07-22-2020, 08:08 PM
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I also used USAA and had a garage fire that destroyed everything in 2016. I was dramatically underinsured so thankfully I didn’t lose the whole house (thank you firemen!!!). Ironically I had three BVM F-4s, a turbinized BVM F-16 (old school) and an Ultra Flash. The F-4s were easy...I just showed the kit cost and multiplied by three. Radio, was easy...online stuff.

Because of the size of the claim they overnighted an adjuster out who spent a week just working my claim. She was great and worked hard with me until we got to my insurance cap. Things like tools are devalued over time, so we had to get to about 50% over the insured amount before they hit the payout cap...once there any further documentation was not needed as we were at the cap

I always tell insurance companies when quoting that I want that I have stupid expensive toy airplanes and then documentation so they know what they’re getting in to ahead of time

One of the most important things USAA needed was pics of my stuff in my space/hero shots etc to prove I had it. Two of the three phantoms were just airframes and were at the epicenter of the fire. I was standing in knee deep insulation (From the ceiling/room above the garage) right where two Phantoms had been and all I could find were sheets and sheets of carbon cloth. Thank God I had taken a pic (they had only been in the garage three days) to send to a buddy, and that sufficed

Hope this helps

Dave
Old 07-31-2020, 03:58 AM
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Think about it in advance

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