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Cow Attack Insurance
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<blockquote data-quote="Travlr" data-source="post: 1812970" data-attributes="member: 42463"><p>When we moved/retired from the ranch, we could insure our home for what we paid for it or any other figure we chose. And we were asked for a figure to insure the contents of the house.</p><p></p><p>The rules changed...</p><p></p><p>Now, to have insurance, we are required to insure for "replacement value", and the contents of the house are rated at a percentage of that value. Our replacement value is five times what we paid for the house and double what we could buy a similar house for in the area. And the contents figure is multiples of what we value the contents at.</p><p></p><p>So we either have insurance at very high rates compared to actual value or have to self insure. Retired and fixed income doesn't help.</p></blockquote><p></p>
[QUOTE="Travlr, post: 1812970, member: 42463"] When we moved/retired from the ranch, we could insure our home for what we paid for it or any other figure we chose. And we were asked for a figure to insure the contents of the house. The rules changed... Now, to have insurance, we are required to insure for "replacement value", and the contents of the house are rated at a percentage of that value. Our replacement value is five times what we paid for the house and double what we could buy a similar house for in the area. And the contents figure is multiples of what we value the contents at. So we either have insurance at very high rates compared to actual value or have to self insure. Retired and fixed income doesn't help. [/QUOTE]
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