Renter's insurance. How much does one get, and how do appraisals work? Asking on the higher end of things, broadly speaking.
Right now I have a renter's insurance policy of $X, which I purchased before my SO moved in. We need a new policy, probably somewhere around $2X, maybe higher. We have relationships with a couple of different insurers, and know about getting riders for high-ticket items etc. I've been through the past questions about renter's insurance.
Two questions. First, let's just say your stately abode is inventoried and you know that the valuable items (jewelry, art works, computers, gold bullion, high-powered shotguns, and gilded robots) is $1,000,000 on the nose. What about all the other stuff? The $500 worth of food in your kitchen? The custom frame that you got made for that photo you took of grandma (the photo being worth "nothing," but the frame cost $200)? The linens in your closet? Is the goal to be so fully insured that you would not suffer any economic loss above the deductible? I'm generally risk averse, so I'm not sure what is a rational level of coverage to buy, considering I'm already looking at $2X for the big ticket items alone.
Second, appraisals. How do they work? I've got some art (including this mystery thing
--still looking for insights), and my SO has some jewelry and clothes etc. Is the expectation that you schlep all of your appraisable possessions to the appraiser, or will they come to you to do everything at once? It would be a hassle to try to take all the art off the walls, or the SO's collection of mink tiaras all over town. Will one appraiser appraise both my imported Bulgarian furniture AND my golden Belgian teapots, or am I going to have to get different people involved? Or will the person with experience in whatever this thing
is be the same person to appraise the value, if any, of that hipster-y lithograph I bought in Brooklyn? How much is this appraisal adventure going to cost? Any recommendations for appraisers in the Boston area?