O/t - Safes

[Snapolit1]

Originally Posted by Stampsfan

I am no expert, but I am in the middle of doing research. I want to put mine in the basement. The salesman told me to put the safe against an outside wall, in my case against the foundation in the basement. This is because fire and smoke will apparently navigate to the middle of a room first, and the walls will have less of it.

My research into this consists of one person, though, the dude who is selling me the safe.

Just remember. . . .the typical homeowners policy excludes flood damage and the typical flood policy as far as I know excludes everything below ground. . .except the mechanicals. After Sandy I looked at my flood policy for the first time. Mine replaced boiler, furnace, washer, dryer. . .and absolutely nothing else. Don't think the insurance company will be particularly moved about your card collection you stored below ground.

[chalupacollects]

Typical flood coverage can cover other below ground items if claimed that sump pump failed or electric went out during a storm...

[Snapolit1]

Originally Posted by chalupacollects

Typical flood coverage can cover other below ground items if claimed that sump pump failed or electric went out during a storm...

What is covered in my basement?

Flood insurance covers your home's foundation elements and equipment that's necessary to support the structure (for example: furnace, water heaters, circuit breakers, etc.).

It's important to note that some items in your basement are covered under building coverage (like a furnace, hot water heater and circuit breaker) and others are covered under contents coverage that must be purchased in addition to building coverage (for example, your washer and dryer, or your freezer and the food in it).

The NFIP encourages people to purchase both building and contents coverage. Flood insurance does not cover basement improvements, such as finished walls, floors, ceilings or personal belongings that may be kept in a basement. For a complete list of what’s covered, view the Standard Flood Insurance Policy (SFIP) Forms.

[Stampsfan]

Originally Posted by Snapolit1

Just remember. . . .the typical homeowners policy excludes flood damage and the typical flood policy as far as I know excludes everything below ground. . .except the mechanicals. After Sandy I looked at my flood policy for the first time. Mine replaced boiler, furnace, washer, dryer. . .and absolutely nothing else. Don't think the insurance company will be particularly moved about your card collection you stored below ground.

Good points Steve. Never thought of that. Thanks...

[Snapolit1]

Originally Posted by Stampsfan

Good points Steve. Never thought of that. Thanks...

Otherwise every time someone's basement flooded they would be seeing claims for rare stamp collections lost, rare cards washed away, comic books, etc. That's the reality of it. All of a sudden people's prized stuff would all be in the basement.

Of course if you live in an area with zero flood threat might be a non issue.