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Re: [OM] Re: Insurance

Subject: Re: [OM] Re: Insurance
From: Jim Brokaw <jbrokaw@xxxxxxxxxxx>
Date: Sun, 15 Jul 2001 02:03:26 -0700
on 7/14/01 6:06 PM, DAVDOU9211@xxxxxxx at DAVDOU9211@xxxxxxx wrote:

> Zuikoholism leads to the amassing of some pretty nice equipment.  I got to
> cataloguing my Oly stuff and my Rollei stuff and it adds up to quite an
> investment.  So, the question -  what are the list members doing to insure
> their cameras, etc.  I know one can get a Camera Floater attached to their
> Homeowner's Policy.  Or, I guess a separate policy just for the equipment.
> But how do you document it's value?  Some I got on eBay, some I traded for
> and some I was given as gifts.
> 
> An example is not an Oly item, but a Rolleiflex 2.8E I have.  My out of
> pocket expense to acquire the camera was $75.00 and several rounds of barter.
> How do I document that?  2.8Es in this condition go on eBay for $700+.  I
> have several Oly items that I acquired with the same ultimate spread between
> my out-of-pocket expense and the item's value.  I don't have a paper trail
> for these things as like most of us the thing sort of grew in the night.
> Knowing what I know now I should have kept records from the beginning.  I
> didn't.  Now what?
> 
> What are members of the list doing about insurance?
> 
> Dave D
> 
Insurance typically pays the "fair market value, depreciated" of the item.
You can also get 'replacement value' coverage, which replaces the lost item
with one that is 'similar' (a new 27" TV for the stolen 27" TV...) This
doesn't help much if the item is not around at any price.

Venues like e*ay help establish 'market value'; a database of recent sales
prices will reinforce a claim with the insurance company. Good pictures of
the item from all angles are also helpful to establish condition. Many
homeowners policies have limits on the value of any one item or a total
loss... I've got to review my policy for this. I probably have too much
coverage on my computer and nowhere near enough on my Olympus stuff... I
will have to add it up and get a floater.
-- 

Jim Brokaw
OM-1's, -2's, -4's, (no -3's yet) and no OM-oney... 


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