troy12n
Offline
Upload & Sell: Off
|
In the last year, a friend of mine was burglarized and lost all his camera equipment, plus a ton of other stuff like his wife's jewelry, electronics, etc. He is having a hell of a time with his insurance company because they are either denying his claims on his camera equipment saying it is professional gear and was not appraised, etc.
In the past few weeks there has been a couple burglaries in my subdivision, so I called my insurance company to inquire if my equipment was covered. To my surprise, their answer was NO for the most part, and what was, would only be covered at depreciated "market value", not replacement value. They said I would have to get a new homeowners policy because the (un-named) company I am currently with does not allow individual "riders" to cover high value items.
Long story short, after a week and a half, they came back with a new policy that changed all of my "contents" coverage to replacement cost, and gave me a specific "high value items rider" which I included ALL my valuables (coins, all my gear, some guns) which would not have been covered by my base policy. On top of that, I would have to have all of my gear "appraised" and inspected to make sure it is all in working order. The result of this was my premiums would have gone up by about $1200 a year. I live in Florida and we have outrageous homeowners insurance in general due to the issue with Hurricanes and sinkholes, so this was quite a hit on top of what it was. I have about 10 grand in gear, all things included, plus some rare coins and stamps, so this seemed pretty excessive.
My question is what kind of coverage do most of you have, do any of you actually have riders or line item coverage or do you go to the extent of having a separate policy for gear?
Let me know what you have, how you did it, and what you pay for it.
|
