Is it regular to own a seperate insurance for my 2nd crypt?
I live in an appartment. I enjoy a garage and a cellar, and lately got a 2nd crypt on the ground floor. My insurance rep told me I had to find a seperate insurance for it. He says it's not considered as a vault since it's on the ground floor. Is that true? I have to earnings $150/year for it.
Answers:
When you say crypt, you're talking roughly speaking a storage unit, right? Where you store your stuff?
You should know how to endorse your renters insurance to show property at an more location - which would be that location. Yes, it's a seperate location. Pricing seems lofty, and I'm surprised that you need a seperate policy for it.
Is this adjectives considered one address? You said this is an apartment? Do you pay seperate rent for this other space? It sounds resembling it would all spill out under impossible to tell apart renters policy.
My answer is based on this vault being a storage part.
An ISO ho4 policy states that personal property are covered worldwide. There are some limitations for a 2nd residence but if this is a storage unit it would not be a 2nd residence. You have need of to call a couple more agents and find out what they would do.
Having a 2nd policy doesn't nouns right
Are you contained by the US?
If so, it's possible that your insurance company simply has no route to extend the coverage from a renter's policy. (Different companies have different rules about that sort of thing.)
Check next to another agent (or three) and see if you can find one that does.
I'm having a complicated time figuring this out.
Is your apartment contained by one place and this other room or cellar someplace else? Like a storage element or something?
Something isn't adding up here. $150 a year for one room? I merely pay $450 a year for an entire house and they're insuring the building and adjectives my contents. I'm assuming that you're only insuring the contents contained by the second cellar. Are you contained by a really bad neighborhood near lots of burglaries or something? I'm not getting it at all.
I'd reach a deal to another agent.
Additional info based on info you simply posted: Same building, it should be covered period. It's bit of the same home. I don't see the apology he wrote a seperate policy at all. Even if you own a storage unit some place else, it's lately an endorsement to cover the other location.