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Yes, its covered by the home owner's or renter's insurance. The issue is most people don't understand the value of an item. Let say you buy brand new MacBook P
by RegnisGnaw 4y ago
Yes, its covered by the home owner's or renter's insurance. The issue is most people don't understand the value of an item.
Let say you buy brand new MacBook Pro for $5000 in 2016. Someone breaks into your home and steals it. Most people when they file the insurance claim thinks the value of the MacBook Pro is $5000 (what they paid for it), but that's not true. The value is the price of a similar 2016 era MacBook Pro on second hand market places (ebay, etc). So lets say that 2016 MacBook Pro similar to yours is selling for $800 on ebay, insurance will compensate you $800.
- deleted 4y ago[deleted]
- tzs 4y agoMost insurers in the US offer a choice between actual cash value (ACV) or replacement cost value (RCV) coverage. You are describing ACV. Premiums are higher for RVC coverage but usually not a lot higher. With RCV coverage they will pay for a new MacBook Pro with similar RAM and storage and screen. I’d guess that most people on HN go for RCV on their homeowners’ insurance. I remember once looking into how much I would save if I switch the personal property coverage of my homeowner’s policy from RCV to ACV and while I don’t remember the amount I remember my reaction was “it’s that little!?” and I kept it RCV.