House Flooded Overnight Last Night. (1 Viewer)

Quicksilver-75

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Well, this a new one. Never had this before but we received so much rain last night in a few hours my basement was a swimming pool this morning. Shitty part is, my whole collection was down there. Chip binders, craps table, BJ table and poker table all fucked. It's gonna be a pretty fun experience trying to get insurance to place a value on these things.
Anybody have a similar experience? How did things turn out?
 
As long as your HO policy covers the casualty (flooding), you should be able to claim it as a covered loss. It will help if you have actual receipts, but, if not, do your best to show comparable replacement costs to support your claim. Most policies include an appraisal dispute cause if you do not like what their appraised value is where both sides choose an appraiser and those two appraisers choose a third appraiser as a tiebreaker to come with a final value on the claimed losses.
 
OMG. I hope you have reasonable insurance people and adequate coverage.

I was told specifically by my provider that they won't cover collectible poker chips in case of loss/damage under similar circumstances.
 
I used to be an insurance adjuster for 5 years in Vancouver, licensed in BC, AB and SK. Please feel free to send me an email, pm or phone me. Insurance claims are a PITA. Knowing what needs to be done is very important.
 
Does a flood destroy poker chips?

I'm sorry to hear about your tables and all the other stuff, but the chips should survive, yeah?
 
Bummer

Sorry to hear that. Id be gutted.

Not to mention the PITA cleaning up and any ongoing issues from water.

God i hope insurance goes well for you.

G
 
I had a similar flood experience about 20yrs ago. I Ontario if you live in a pre 1990's'ish house you may not have a backflow valve in the drain pipes from your basement going out to the town line/or reverse. Thus if the town line over fills or is clogged with debris water will backflow into your house unless you have one of these valves. They are relatively cheap to install if not already there.

I hope you can recover a decent portion of your stuff....or that insurance will buy you better.
 
OMG. I hope you have reasonable insurance people and adequate coverage.

I was told specifically by my provider that they won't cover collectible poker chips in case of loss/damage under similar circumstances.
What was the reason given? They should be covered under your personal property coverage as long as the casualty that damages them is a covered event. If you have an exclusion or limit for collectibles, you should at least be able to separately schedule them for supplemental coverage.
 
My guess is that "collectables" are only covered up to a certain threshold. After that, you likely needed an endorsement providing additional coverage.
I talked to my agent about it and was told they would be under PP coverage and no need to separately schedule, all depends on one’s own policy language though. Typically the collectables language specifies things like art, bullion, etc.
 
I used to be an insurance adjuster for 5 years in Vancouver, licensed in BC, AB and SK. Please feel free to send me an email, pm or phone me. Insurance claims are a PITA. Knowing what needs to be done is very important.
Well, I'm happy you chimed in because I may need a quote from you for a poker table and BJ table.
 
Watching to see how this plays out…. I’ve been wondering how to insure, and if it even works if the end when a claim happens.
 
I hope you have federal flood insurance. Few standard home-owners policies cover water damage due to rising water. But they do cover damage from burst pipes, roof leaks etc. You will know more when you talk to your agent.
 
I hope you have federal flood insurance. Few standard home-owners policies cover water damage due to rising water. But they do cover damage from burst pipes, roof leaks etc. You will know more when you talk to your agent.
Hopefully Canada has something like that coverage.

@Quicksilver-75 dunno if this’ll be at least partially applicable to your situation, but this Reddit comment from an insurance adjuster about making claims after a fire seems like good general advice for loss claims:
 
Canadian insurance companies usually provide replacement cost coverage, which means that if you replace the item that was damaged with like kind and quality, the insurer will pay for it. It has to be similar though, cannot replace a dollar store mixer with a Kitchenaid stand mixer. If you do not replace the item, then they will depreciate the item and pay you the actual cash value. Meaning if it's not new, they'll likely try to pay you 50% or less of the value. Arguing the value is probably the hardest part, so the easiest thing to do is to replace everything. Even if you don't need/want it anymore, replace it. You can sell it after as new, that's not shady at all because you paid insurance to cover your stuff, and if it gets destroyed, you're entitled to have it replaced.

Ideally you want to be methodical and list everything. Create a spreadsheet and list everything you can think of that was damaged, and label it as damaged or destroyed. If it's repairable, they should fix it and give it back to you. If you don't want it back, you can try to claim the repair cost, but not the value of the item.

You should make your own list, don't rely on the insurer to do it, they won't do it right. List the item description, brand, color, make, model, what year you bought it, original purchase price and the current replacement cost price. I know that seems like a lot, but the more comprehensive this list, the better. I've worked on Schedule of Loss forms that were thousands of items long.

One more thing to be aware of, is a Proof of Loss form that they will ask you to sign. Do not sign it until you're 100% sure you've finalized your claim. You can get interim payments from them to help you buy the things you need to replace, but ask them for an Interim Proof of Loss form to sign, which allows you to submit as many as you want within the statute of limitations until you're ready to submit the Final Proof of Loss. This isn't always black and white, I've seen insurance companies still accept more proofs of loss even after a Proof of Loss form has been signed and submitted, but I don't think it's worth the risk.

And yes, feel free to reach out to me for valuations of your tables. The replacement cost isn't the cost of the materials that you spent building anything, it's the cost to replace it with something similar.
 
Canadian insurance companies usually provide replacement cost coverage, which means that if you replace the item that was damaged with like kind and quality, the insurer will pay for it. It has to be similar though, cannot replace a dollar store mixer with a Kitchenaid stand mixer. If you do not replace the item, then they will depreciate the item and pay you the actual cash value. Meaning if it's not new, they'll likely try to pay you 50% or less of the value. Arguing the value is probably the hardest part, so the easiest thing to do is to replace everything. Even if you don't need/want it anymore, replace it. You can sell it after as new, that's not shady at all because you paid insurance to cover your stuff, and if it gets destroyed, you're entitled to have it replaced.

Ideally you want to be methodical and list everything. Create a spreadsheet and list everything you can think of that was damaged, and label it as damaged or destroyed. If it's repairable, they should fix it and give it back to you. If you don't want it back, you can try to claim the repair cost, but not the value of the item.

You should make your own list, don't rely on the insurer to do it, they won't do it right. List the item description, brand, color, make, model, what year you bought it, original purchase price and the current replacement cost price. I know that seems like a lot, but the more comprehensive this list, the better. I've worked on Schedule of Loss forms that were thousands of items long.

One more thing to be aware of, is a Proof of Loss form that they will ask you to sign. Do not sign it until you're 100% sure you've finalized your claim. You can get interim payments from them to help you buy the things you need to replace, but ask them for an Interim Proof of Loss form to sign, which allows you to submit as many as you want within the statute of limitations until you're ready to submit the Final Proof of Loss. This isn't always black and white, I've seen insurance companies still accept more proofs of loss even after a Proof of Loss form has been signed and submitted, but I don't think it's worth the risk.

And yes, feel free to reach out to me for valuations of your tables. The replacement cost isn't the cost of the materials that you spent building anything, it's the cost to replace it with something similar.
Alrighty. Thanks, Tony. So how much for a new 10' craps table? Lol.
In all honesty, I may be looking for a new felt for it. The rails were all taken down and stored in a room that saw the worst flooding. I have them clamped as they dry so the wood doesn't warp *hopefully. One video screen is probably destroyed. The table itself was leaning against another wall where the flooding entered through a window. While the table is drying nicely without any swelling the felt is going to be marked with water stain.
I'll be in touch soon.
 
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