MAJOR Downside To Stockpiling

temroy2 · 09-02-2008, 05:31:21 PM

I recently experienced first-hand the downside to stockpiling. We were hit with a pretty big storm on Thursday night. 100mph winds in some places. The wind knocked over our neighbor's tree and it landed on power wires that supply power to 5 houses in our area and broke the transformer in half. Our utility company tried to say there wasn't a power outtage in our area and that nobody had called to report there was, which wasn't true. We were without power for two days (in triple digit temperatures, I might add) and as a result, had to throw out a nice stockpile of frozen food and meat from our fridge/freezer combo and our chest freezer plus the entire contents of our refrigerator.

We were given a number to make a claim with the utillity company to get compensated for what we lost, but whether they'll actually pay us is a different story and we're now without a lot of stuff.

Oh, and the only reason anything ended up getting anything done is because someone chased after the power company on a bike and basically begged them to come assess the damage. The tree that toppled over was over 70 feet tall and the wires were underneath it. One of the network crews came out to interview us and videotaped our chest freezer dripping water and our bird and dog in distress from the heat.

We do have power now, finally, but it makes one weary about trying for another stockpile.

TheWoman · 09-02-2008, 05:33:18 PM

Also check your homeowners insurance. I know mine will cover food lost during a power outage with no deductable.

MommySusan1 · 09-02-2008, 05:39:07 PM

Be careful about a claim on your homeowner's. I've heard so many people who have been dropped after one claim. I have read the only time you should make a claim on your homeowner's is a catastrophic loss.

Lurkergirl · 09-02-2008, 05:43:46 PM

We lost food because of a hurricane and the homeowners paid us .

XplatinumXpixeyX · 09-02-2008, 06:31:48 PM

I'm sorry to hear you lost all your frozen stockpile. That just sucks and I would say that is a huge downside to stockpileing also. I hope something gets sorted out for you.

Maismom · 09-02-2008, 06:32:25 PM

Originally Posted by MommySusan1

Be careful about a claim on your homeowner's. I've heard so many people who have been dropped after one claim. I have read the only time you should make a claim on your homeowner's is a catastrophic loss.

It is so true. We had a fire in our backyard, so we made a claim. Our premium tripled after that year.

queenofthehivemomof5 · 09-02-2008, 06:37:22 PM

I am sorry that that happened. I guess fortunatly for us power outages are more likely to happen in the winter months than summer months. And with Wyoming winters we would probably be OK. But we have invested in a generator this summer (craigslist) and that makes me feel a bit better since if we have no power in the winter we have no way to cook (I guess we could BBQ outside?) or heat our house.

*jess* · 09-02-2008, 08:13:08 PM

Oh wow I'm sorry... I don't know anything about how to replace it so I don't have any advice but I hope you guys can get it figured out.

hopeky94 · 09-02-2008, 09:05:11 PM

I don't know if all insurance companies have this, but the one I used to work for in KY (my sister still works there) set up "CAT codes" for homeowners' claims anytime there was a major catastrophe, meaning any time a large area was hit hard enough that it was going to cost over a certain $$ amount to cover all the claims for that area. These cat code designations helped both the homeowners and the company from my understanding-- for the homeowner, it's not considered something major towards affecting your policy, and for the company, I believe it qualified them for state or federal aid in paying the claims. In most cases, weather-related losses are much less likely to have a major impact on your policy status than other losses like theft or fire (not real fair, but seems to be the trend).

So if this storm hit a fairly large area and/or has been reported that it'll take a large $$ amount to fix things due to it, I'd definitely call and talk to your insurance agent and get his or her opinion on filing a claim. You can say you're asking for a "friend" who has coverage with them if you want (or that you're calling to ask "what if" questions to prepare for the future), to make sure they don't go ahead and file a claim if you decide you don't want to do it. Don't forget to ask if there's a time limit when you'd have to submit it to them and what other info they might need (i.e. detailed list of what was lost with replacement costs listed, pictures, etc).

Hopefully, the utility company will hold up their end of the agreement, but just in case, it's a good idea to explore all your options and gather all possible details. Did the utility company give you anything in writing concerning this? If so, make a copy of that too and submit it with anything you decide to give your own insurance company. They may be able to re-coup some or all of their expenses that they might pay out to you.

HTH some... So sorry this happened to you, I know it has to be frustrating and disheartening...

Wolfie1991 · 09-02-2008, 09:11:21 PM

They will give you replacement value. If you paid .80 for fish sticks, they will give you the retail value to replace them. You will hopefully make money on the deal. That is if your insurance stays the same. I would some right out and ask them if your rates will go up if you make a claim.