[pure-silver] Re: insuring cameras
- From: "Bob Younger" <younger@xxxxxxxxxxxxxxxxxxxxxxxx>
- To: <pure-silver@xxxxxxxxxxxxx>
- Date: 13 Nov 2006 03:45:57 -0800
- Date: Sun, 12 Nov 2006 19:30:12 -0800
Please keep in mind that these personal article floaters on your
homeowners'/renters' policies are ONLY for equipment used for "personal
use." If you use the equipment professionally it is not covered, and making
a claim in that case is classified as "insurance fraud." (Something the
insurance companies take seriously, and personally.)
There is no depreciation on equipment covered under a "floater," so no
worries about your DSLRs or other tech equipment. However, you will only be
reimbursed for the purchase price; or the claimed and demonstrated (i.e.,
via appraisal) value when you insured it. If the equipment is appreciating
you can always update the policy with the new value (and pay the increased
premium).
However, if you are counting on your (non-professional) equipment being
covered (as for, "replacement cost") under your normal homeowner's policy
(without a floater), ensure that it is AT HOME when it gets destroyed. That
is, it is NOT covered for incidents that happen away from home. Only a
personal article floater will cover the equipment for ALL losses; and then
only if the equipment is used for personal use. I'm not an insurance expert,
but I am experienced with losses and claims.
Bob Younger (lost ALL of my equipment in the Cedar Fire, October, 2003, San
Diego, California)
Terra Nova Photography
R.E. Younger
800.398.9775
younger@xxxxxxxxxxxxxxxxxxxxxxxx
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