Mara
Super_Ideal_Rock
- Joined
- Oct 30, 2002
- Messages
- 31,003
I got my letter of renewal today from Chubb and they asked in it if I want to automatically have them add 'inflation' into my policy.
I can choose to automatically increase my coverage by 10%, 25% or 50%
OR annually I can have them add 2%, 4% or 6% at renewal. They will increase it until I ask them to stop.
Well I don't need to increase it, it was only appraised last year. So it's not really relevant to me. I guess they didn't notice that...or maybe they thought I still thought my piece had appreciated 10/25/50% in the last year? Odd.
Anyhow my question to the experts is...would it be worth it to have them add something like the 2% annually automatically on renewal, or should I just get my pieces re-appraised every 5 years or so and update it that way?
Lastly, for those interested in Chubb...the whole Blue Nile thing has got us confused, well on their letter they have this as the information for contact:
"Chubb Insurance Solutions Agency Inc
(Blue Nile)"
So it would seem that possibly Chubb owns a portion of Blue Nile or vice versa? Anyway, still confused.
I can choose to automatically increase my coverage by 10%, 25% or 50%
Well I don't need to increase it, it was only appraised last year. So it's not really relevant to me. I guess they didn't notice that...or maybe they thought I still thought my piece had appreciated 10/25/50% in the last year? Odd.
Anyhow my question to the experts is...would it be worth it to have them add something like the 2% annually automatically on renewal, or should I just get my pieces re-appraised every 5 years or so and update it that way?
Lastly, for those interested in Chubb...the whole Blue Nile thing has got us confused, well on their letter they have this as the information for contact:
"Chubb Insurance Solutions Agency Inc
(Blue Nile)"
So it would seem that possibly Chubb owns a portion of Blue Nile or vice versa? Anyway, still confused.