Insurance on your audio equipment

[Hocky]

I have been meaning to post about this for a while, but haven't thought about it. I was at my insurance office adding some riders to my policy for some artwork and jewelry and I brought along documentation regarding all of my stereo equipment. When I presented it to my agent and said it was stereo/theater equipment, he did not bat an eye and said oh, it's covered, no need for a rider. I then told him that the value is quite high and he continued to say don't worry about it, it is covered. After questioning him several times on it, we did not add a rider to the policy for the gear.

Has anyone had similar experiences? With spring / thunderstorm season coming, I'd sure hate to be in a position of having lighting fry some of my gear and end up totally hosed over his ignorance.

 

[amey01]

I had the same thing - no need to specify was the answer, but I ended up having it specified anyway. I just demanded everything was listed on the policy, and in addition I have photos of all equipment and serial numbers stored off site.

You'll more likely suffer problems with the policy itslef, so check that. Averaging clauses and stupid things like only covering floods if the water falls out of the sky.

 

[twich54]

With spring / thunderstorm season coming, I'd sure hate to be in a position of having lighting fry some of my gear and end up totally hosed over his ignorance.

speaking of insurance.......with the pending violent weather ahead the best ins one can do is to unplug your gear when weather is threatning or you leave for several days.

 

[slowGEEZR]

speaking of insurance.......with the pending violent weather ahead the best ins one can do is to unplug your gear when weather is threatning or you leave for several days.

Excellent advice, Dave.

 

[slowGEEZR]

I have been meaning to post about this for a while, but haven't thought about it. I was at my insurance office adding some riders to my policy for some artwork and jewelry and I brought along documentation regarding all of my stereo equipment. When I presented it to my agent and said it was stereo/theater equipment, he did not bat an eye and said oh, it's covered, no need for a rider. I then told him that the value is quite high and he continued to say don't worry about it, it is covered. After questioning him several times on it, we did not add a rider to the policy for the gear.

Has anyone had similar experiences? With spring / thunderstorm season coming, I'd sure hate to be in a position of having lighting fry some of my gear and end up totally hosed over his ignorance.

The one thing I would be concerned with is to make sure you get full replacement value, not a depreciated value with your policy.

 

[amey01]

The one thing I would be concerned with is to make sure you get full replacement value, not a depreciated value with your policy.

Actual replacement value is very important. This is why I feel more comfortable specifying everything.

My Classé amplifier is a case in point. It was a discontinued model, with a RRP of $AUD6,000. Being discontinued, I bought it for $AUD3,500. The replacement model now has a RRP of $AUD8,995!

So I have a reciept for $3,500 when the true replacement value is $9,000! That is an invitation for a lot of bother unless you've taken the steps to ensure otherwise.