RC Car Insurance...Get insurance to protect your investment!If you own a hobby quality rc car or truck, then you know how expensive these vehicles are. At an average of $300 per car, the costs can really add up if you own several vehicles. So whether you keep your vehicles in your home, garage, or rental property, you should make sure to to do an inventory of your collection in case of fire, vandalism, theft, or another similar event so that you can be compensated for your equipment.How does this work and does my insurance cover it? Before finalizing a mortgage loan, lenders require homebuyers to purchase at least a minimal level of homeowners insurance. The policy will usually be written so that, in cases of severe damage, the coverage check will be made directly payable to the lender. To protect your own interests, however, you'll probably want to buy comprehensive homeowner's insurance, not just the minimum required by the lender. What Homeowners' Insurance Covers: In addition to covering the house, homeowners' insurance protects furnishings and other personal items, as well as any other structures on the property, such as a separate garage you keep your equipment in(unless you use such structures for non-residential purposes, such as for your home business). Most homeowners' policies do not cover business equipment, damage caused by natural disasters, or loss of some things such as art or jewelry over a certain amount. You will want to purchase additional insurance if your house is in a high-risk area or if you have expensive art, jewelry, or business equipment at home. Finding And Keeping Homeowners' Insurance If you're having trouble finding homeowner's insurance, see if your auto insurance carrier will insure your home. If not, you may be able to get homeowner's insurance with another company if you move your car insurance coverage to the new carrier. Buyers who have homeowner's or renter's insurance can often get coverage for the new home from their current carrier. Local real estate agents, real estate attorneys, and title and escrow officers often know who's writing new homeowner's policies. Claiming Losses: You still should guard your policy by not filing claims unless you have to because if you file more than two or three claims, your rates will rise and your policy may be canceled. You are best advised to get a policy with a high deductible, so that you've got no reason to file lower-cost claims that will raise your premiums or lead to future cancellation of your policy. Making a Home Inventory: An up-to-date inventory will make it easier to deal with police and your insurance company. Without one, you'll have to create a list of all your expensive rc cars, trucks, parts, equipment, and accessories you've accumulated over the years from memory. Start by going through all your stuff with a pad of paper and a still or video camera. Jot down a list of any items worth more than $50 or so and take pictures of them. Fortunately, making a home inventory isn't onerous, and might actually prompt you to prevent the loss itself. As you inventory your possessions, you'll become more aware of their vulnerability, and can take steps to secure them. Hope that helps and see you at track! 
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