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Re: [OM] Theft/loss insurance

Subject: Re: [OM] Theft/loss insurance
From: "John A. Lind" <jlind@xxxxxxxxxxxx>
Date: Fri, 26 Apr 2002 08:48:11 -0500
At 04:16 4/26/02, you wrote:
Particularly for European list members...
I was wondering if any of you have a specific insurance policy for your OM
stuff?  I just found that my house contents policy here in Belgium doesn't
cover loss/theft outside of the house so I have to take a specific extra
policy.  My broker says it's not worth it for my 'old' OM stuff because
they depreciate the value 100er year (so my OM stuff from 1983 is now in
negative territory, I'd have to pay them if it was stolen!)
Ideas please?
Thanks (hoping never to need to claim!)
Jez

Jez,
Do they have anything that covers "replacement cost?"

Here, most companies have a "rider" that can be added to the household policy called a "Personal Articles Floater." It's used to cover items such as jewelry, musical instruments, cameras, lenses, etc., and is *different* than special coverage for collections or antiques. The "floater" provides greater coverage for loss from many more hazards than standard auto or household. My company requires an itemized list of items, their condition and their current value which I provide (below valuation requiring an appraiser). Accessories such as focus screens are listed with the primary item. Rates are based on total valuation covered by the "floater." My agent didn't think of this immediately when discussing coverage for the camera gear. They're not accustomed to thinking in terms of large systems with many bodies and lenses. It finally dawned on her that "floater" coverage was appropriate when I started talking numbers of bodies, lenses, a few individual dollar values, and the aggregate dollar value.

I'd ask how they cover things such as musical instruments which don't depreciate in the same manner as common clothing and furniture. Cameras and lenses should fall under a similar category.

-- John


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