Portable Generator Insurance?
Anybody insure their portable generators? Talked with State Farm today and am trying to figure out what the best option is. A personal item policy (similar to insuring a watch) is one option that ha...
Forum Discussion
jkwilson wrote:
Insuring something you can afford to replace is a poor financial decision. If you can’t afford to replace a portable generator, you shouldn’t have one because they are difficult to insure. Insure companies sell the idea that insurance is a good idea. It’s a bad gamble in almost all cases until it begins covering more than you can afford to pay.
Seems like pretty dumb logic. I can replace my pickup but cover it with insurance because I’d prefer not to write a check when a couple hundred bucks a year covers me in the event of a total loss. Risk mitigation is smart if it is cost effective. Just like we ensure personal items that are valuable, I wanted to explore the same with a generator that costs over 2k. The price isn’t right/not available so I’m not doing it but it was worth exploring.....
