baj2k wrote in post #13845186
To insure most expensive items for near what they're really worth you need to ask your Insurance agent to add a "rider or floater" to your insurance. You basically declare what you have specifically s/n, make/model, take pictures or videos of the stuff, keep receipts, etc. and they can get a quote for a full replacement cost rider for those items. Usually about $1.50/$1000 is the rate, or at least that's what I was getting quoted. I had to do this on some expensive guitars I have. Most standard homeowners/renters policy severely restrict what you can claim for jewelry, camera gear, musical instruments, electronics like computers, etc. You may think you're fully covered but you probably aren't covered for anywhere near what it'll take to replace it. On my guitars they covered < %25 of what it would cost to replace them. If you haven't done so already perhaps this unfortunate incident may do others some good by prompting them to call their agents to see where they stand. Give him or her a call and say "if someone broke into my house and stole $12k of my camera gear how much would my current policy cover?" Make sure you're sitting down when you do this...
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Disclaimer: I'm not a licensed insurance agent. I'm just a guy on the 'net recommending that you check with a real Licensed Insurance Agent before you do anything based on what I wrote.
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To insure most expensive items for near what they're really worth you need to ask your Insurance agent to add a "rider or floater" to your insurance. You basically declare what you have specifically s/n, make/model, take pictures or videos of the stuff, keep receipts, etc. and they can get a quote for a full replacement cost rider for those items. Usually about $1.50/$1000 is the rate, or at least that's what I was getting quoted. I had to do this on some expensive guitars I have. Most standard homeowners/renters policy severely restrict what you can claim for jewelry, camera gear, musical instruments, electronics like computers, etc. You may think you're fully covered but you probably aren't covered for anywhere near what it'll take to replace it. On my guitars they covered < %25 of what it would cost to replace them. If you haven't done so already perhaps this unfortunate incident may do others some good by prompting them to call their agents to see where they stand. Give him or her a call and say "if someone broke into my house and stole $12k of my camera gear how much would my current policy cover?" Make sure you're sitting down when you do this...
.
Disclaimer: I'm not a licensed insurance agent. I'm just a guy on the 'net recommending that you check with a real Licensed Insurance Agent before you do anything based on what I wrote.
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Thanks for the reminder guys! I used to have insurance for my gear when I was back in Canada but since I moved to the U.S. I haven't taken the time to do it. Will be taking care of this over the weekend.
