Don't forget to include stuff like Tupperware, lawn mowers, tools etc. If I added up the retail cost of what I wore today: Jumper $40, Jeans $50, undies $7, Bra $70, shoes $20, $187 not including jewelry. It's important to also remember "new for old" cost, your 3 piece lounge suit might be on it's last legs and you'd be lucky to get $50 for it at a garage sale, but how much would it cost to replace it tomorrow with something brand new similar style/quality when it was new?
I worked in insurance for a long time, if disaster strikes, it will happen when you've no spare $$ & even if you are adequately insured there are always costs that aren't covered.
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Results 41 to 46 of 46
18-07-2013 22:02 #41
18-07-2013 22:10 #42
18-07-2013 22:31 #43
I paid $40 for a sheet set from target and lasted me years and years
I paid $17 for a fitted sheet the other day, the flat sheets were $10 each, quality is fine
18-07-2013 22:35 #44
I dont have tupperware or any tools, my clothes that im wearing now to replace would be $30, including my ugg boots :P
I get alot of brand name clothing from op shops, most are new. Otherwise i buy Target or Big w.
So $2,000 to replace all my clothing is heaps!! My most expensive brand new clothing item is prob my $150 Nikes DD and DH are the same im a savvy op shopper. DDs wardrobe has alot of brand name stuff, all from op shops!
18-07-2013 22:37 #45
I rent and have insurance with NRMA. $23 a month for $30k cover. I know I can replace everything for that
19-07-2013 00:07 #46Senior Member
- Join Date
- Oct 2008
I always tell my clients to establish how much they would need in order to replace everything they had (new for old and not necessarily having a chance to shop around) and if premium price is an issue to then establish the lowest amount they would feel comfortable receiving in the event of a total loss. No one ever complains about the premium when they have a claim but they do complain about sums insured if they aren't high enough.
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