floris
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Buy and Sell: On
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Duncan Gibson wrote:
floris wrote:
I have state farm, renter's insurance, with a 1.8%/yr student rate all risk coverage on $16k of camera equipment. I've never made a claim, so I can't tell you how smoothly that goes. But theoretically it seems I could purposefully toss my camera in the lake and get a new one.. not sure how that's possible, but that's what they said.
No you can't. Although some property insurance policies are "all losses" and cover carelessness (I took my Camera windsurfing!), insurance policies never cover intentional losses (arson committed by the insured obviously disqualifies the insured from recovering from the insurer).
So don't "purposefully" throw your camera in the lake. If you do something really dumb like taking the camera windsurfing, expect to have a hard time proving your claim (which, also brings up the point for everybody with personal property floater riders on their home policies -- keep all your receipts, preferably in a place that won't burn if your home does, because if the cameras are stolen or destroyed beyond all recognition, you still have to prove that you owned them and what they were worth).
Oh. here's another point. Presumptively, insurance policies cover lost property for the actual cash value of the item (ie resale). It is possible to purchase replacement value insurance, but this typically costs a lot more.
Hence the quotes.. it's tough to distinguish between accidentally dropped and purposefully dropped.. that's there the whole thing seems a little odd. As far as I was told they're insured for the value I declare, ie. If I'm insuring a $2k item, and it gets stolen/destroyed, I get $2k to replace it. I don't plan on trying this out of course, because as you say, it'd probably be tough, and probably give me some bad points, but I still think it's amusing that I could, in theory, make a claim for some bogus accident.
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