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by Anonymous on November 9th, 2008

Anonymous

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I have replacement costs on my homeowners insurance. I lost 17 years of college textbooks at my storage unit due to bad weather. When I make my claim tomorrow, how do I put a value on the books? We always estimate $1000 a year per child.

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Answers. 5 helpful answers below.

  • by Scrappy on November 9th, 2008

    Scrappy

    I doubt they are going to give you a lot for a 17 yr old book if anything at all. Insurance doesn't work that way. You have to take depreciation value and those books today would be worth nothing. GL but don't get your hopes up and it is against TOS to ask sthe same question more than 1x..somebody would have answered it within a few minutes

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  • by Anonymous on November 9th, 2008

    Anonymous

    If you paid $1000 for textbooks 17 years ago, they are not going to be worth $1000 today. In fact, textbooks change as society advances, so the 17 year old textbooks are only probable worth the value of the paper used.

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  • by Yarnlady is happy every day on November 9th, 2008

    Yarnlady is happy every day

    The insurance company will require receipts of the purchases of the books, and they accept credit card bills. However, they only pay the value of the used book on today's market. Even if you have complete replacement insurance, the most expensive kind, it still means replacement the same age as the book, not a brand new book to replace the 17 year old one.

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  • by Scott D - ex-QnA on November 9th, 2008

    Scott D - ex-QnA

    That depends on the type of policy you may have. If you have replacement value, you may be able to get a check for a respectable percentage of the replacement cost.

    I know that I had a house fire about 12 years ago and Illinois Farmers did not question a thing that was lost, including several rare collectible books (Banknote Counterfeit Detectors) that cost several hundred dollars each. Unfortunately, they were worth many times what I had paid and virtually impossible to replace.

    I had more difficulty getting the proper value for the DeLorean (car) that burned up in the garage. (I settled for $18K on a $20K "stated value" policy.)

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  • by Froggy on November 9th, 2008

    Froggy

    Trying to ever get a claim accepted by "State Farm" will be a challenge in itself, they are bad for paying claims.

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More Questions. Additional questions in this category.

You're reading I have replacement costs on my homeowners insurance. I lost 17 years of college textbooks at my storage unit due to bad weather. When I make my claim tomorrow, how do I put a value on the books? We always estimate $1000 a year per child. - which can also be phrased in the following ways:

  • I have State Farm insurance. How will they put a value on 17 years of college textbooks that were destroyed in a storage unit? I usually budgeted $1000 a year for books and that was pretty close, but I could not list the books. Will my claim be accepted?

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