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suev

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Posts: 3
Reply with quote  #1 
I have rental property in both California and Nevada.  My State Farm Agent in Nevada says that I must carry personal property coverage equal to 15% of the house's value.  I pay only 5% of the house's value for personal property coverage for the rental in California - also State Farm.  The Nevada agent says that the 15% requirement is unique to Nevada.  Has anyone heard of this?
suev

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Posts: 3
Reply with quote  #2 
I should have mentioned that I have practically no "personal property" at the rental.  The applicances are close to worthless.
OHlandlord

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Posts: 3,737
Reply with quote  #3 
Anonymously call another State Farm agent, and another insurance cimpany's agent in Nevada and ask about this rule.  Do NOT give your name or identify yourself.  (See previous posts on your insurance CLUE report for why.)  If it is a rule, all insurance agents in Nevada will know it.  If not, you will quickly learn that the agent only wants to charge you higher fees.
suev

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Posts: 3
Reply with quote  #4 
Thank you.  I did not think of that.  This could explain why I have not heard back from my agent because I have repeatedly asked her to send me the text of, or reference to, the "rule" that she says requires this.  I have also sent an inquiry to state farm asking "confidentially" about this rule.  They probably just sent it to my agent.
prin1113ci

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Posts: 86
Reply with quote  #5 
The amount of personal property coverage you need enter an estimated replacement value of your belongings for each category.


snurken
cedy

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Posts: 7
Reply with quote  #6 
This is not good for you so you want to contact with another agent and tell him about your problem, So and another insurance company's agent in Nevada and ask about this rule.  Do NOT give your name or identify yourself.
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lucy_ralph

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Reply with quote  #7 
I am agree with cedy this is not good you are asking about another agent better ask him or someone that person who deals in Nevada he will tell you better.
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