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What does Full Value on Personal Property mean on Safeco policy?
Wiki User
∙ 10y ago
Explain Full Value on Personal Property on a Tenant Policy
Wiki User
∙ 10y ago
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Does depreciation reduce the personal property tax?
Depreciation can reduce the assessed value of personal property and thereby reduce the personal property tax, if the tax rate stays the same. Most states have a minimum rate in their depreciation tables where the depreciated value of the personal property will remain as long as you still own the property. Ask your local personal property assessor about depreciation tables as they also vary by type of personal property.
What type of tax is figured at a percent of the value that an assessor places on property or personal possessions?
A property tax is figured at a percent of the value that an assessor places on property or personal possessions. Property taxes are paid every year, usually to a county.
Do your personal photos have value in a property loss claim?
No, Personal photos, much like a cherished memory can not be replaced nor assessed a value.
Specific property data is incorrect - valuation is affected - how can it be corrected?
More information is needed in order to answer your question. 1. What type of property? (e.g., real property, personal property, other) 2. What data is incorrect? (e.g., characteristics of real property or personal property) #. What valuation if affected? (e.g., assessed value by local assessor, appraised value by independent appraisers, insurable value, etc.)
Where might a person find information regarding engagement ring insurance?
An engagement ring insurance may be covered by a homeowners' policy. However, this depends on the value of the ring. If the homeowners' policy does not cover the engagement ring, a policy extension for personal property coverage is needed. Alternatively, there are insurance companies which specialize in insuring jewelry.
When must insurable interest exist in a property policy?
Insurable interest is when a person receives a financial or other type of benefit from the continuous existence of the object that is insured. When dealing with property a person is entitled to insurable interest of the property up to the value of the property but not over the value of the property.
When must an insurable interest exist in a property policy?
Insurable interest is when a person receives a financial or other type of benefit from the continuous existence of the object that is insured. When dealing with property a person is entitled to insurable interest of the property up to the value of the property but not over the value of the property.
If fishing tackle is stolen from a trailered boat does boat vehicle or homeowners pay?
Personal Property is covered on your home policy. You would need a high value of tackle to justify risking placing a claim. Good Luck.
Does landlords liability insurance cover damage to your property when building floods due to landlord negligence?
You must review the actual policy, but in most cases the landlords liability insurance only covers their property and NOT your personal property. You should probably get your own policy through travelers insurance for liability, and persaonal property. Make sure it includes flood/water damage as this would likely be a separate rider. Landlord Negligence would be a lawsuit to recover your property value. Seek advice from an attorney.
What does music have to do with values?
Music only has value if you ascribe a personal worth to it.
What is the depreciated value of my personal property?
It depends on the property. Most insurance companies have a schedule of depreciation for a said property. For example an ice box has a life span of 10years (let's say), and it costs $1000.00 to replace and it is five years old at the time of loss. You are due $500.00, after the depreciation. All personal property has a life cycle, and it just depends on what the property is. As a side note you might want to check with your agent or policy services for your company about adding a 'replacement cost' endorsement to your policy, the endorsement generally isn't too much, and certainly pays for it's self many times over should you suffer a loss.
What does no replacement cost in your renters policy mean?
If your policy indicates that there is no replacement coverage then that means you will be compensated (paid) based on the current depreciated value of your property in the event of a claim.
