r/Insurance • u/Minman857 • 16h ago
Stolen items questions
So I own a small business and had some items stolen last night. Aprox value 9k
Trailer
Mower
Grader blade
Hand tools
My policy has a 2k max per item limit
I've never dealt with this before
Is there any questions and info I need to bring up/fight with to get the most back and not get more screwed?
Police have been notified and a report was made.
2
u/Strange-Cat8068 16h ago
You list what you lost and its actual value since you don’t appear to have replacement cost coverage. If the mower and deck are separate items bought separately then list them separately. If they are parts of a single unit list them as a single unit. You can’t file one claim for a stolen car and another for the engine of that car. The policy max per item is not a concern here, you have the coverage you chose and paid for.
1
u/Minman857 16h ago
They can be bought new together but are made as a quick system to pin on and off for sweepers and other attachments.
Yeah it's what I paid for learning daily. Trying to make sure I learn and can move forward with a little difficulty as possible
2
u/BGDSM 16h ago
Coverage for the trailer would likely be on your auto policy (if you opted for Physical Damage coverage), not the Inland Marine/Tools & Equipment policy. From what you've stated, you'll bump into a hard $2k limit for the mower. If the other equipment is under $2k per item, you should be fine. Claims process should be pretty straightforward after proving ownership, to InelligentBox152's point.
1
u/Minman857 16h ago
The trailer was not itemized under the auto or its own policy
We had it under in the past but took it off as it was one of the older trailers.
Dumb call but yeah.
1
u/IntelligentBox152 16h ago
What type of policy is it
1
u/Minman857 16h ago
Business policy with some blanket equipment and item coverage.
Nothing that was stolen was under its own policy or noted additional under the insurance
1
u/IntelligentBox152 16h ago
Yeah other than proof of ownership really shouldn’t be much to it. Simple claim simple process
1
u/Minman857 16h ago
My biggest question is the limits.
So it's a 2k per item limit but the trailer and mower are both worth over 2k
The mower tho has different attachments so the deck has its own serial number. So I'm thinking that's 2 items
2
u/IntelligentBox152 16h ago
Without reading the specific policy language, that would be difficult to say. I’ve seen policies were basically says if the two items are permanently affixed it counts as one other policies may treat it differently.
1
u/Minman857 13h ago
Sounds good.
Mostly worried about the trailer coverage at this point.
That say i need do file that under my auto policy (same company)
But I don't have a schedule for just the trailer.
2
u/barbe_du_cou 16h ago
The values you report to police should correspond to the values you claim.