Having had a recent loss of radio equipment along with other items, I
would comment, the insurance company strongly and aggressively pushed
for a settlement under the loss definition of "power surge". In this
case they would only pay depreciated value for the equipment less the
deductible which was $1000.
While my loss was clearly due to a lightning strike, and I had service
reports from 3 different servicing companies all stating "lightning
damage" as the cause of loss or damage. In this case the insurance
company is required to pay replacement cost, less the deductible.
The insurance company kept trying to change the description of loss from
"lightning damage" to "power surge" to lessen their liability. I held
my ground, provided them multiple times the copies of service reports
stating in all cases "lightning damage". Final settlement was a bit over
$12,000.
Yes equipment insurance is most valuable and worthwhile in all aspects.
It is also very important to have available a list of model numbers,
serial numbers, date of acquisition and price paid. Without this the
insurance company will challenge ever item and every number. Our job is
to "prove it" while there job is to "deny it". My EXCEL spreadsheet
proved to be most valuable along with digital photographs.
73 Bob, K4TAX
On 8/8/2015 2:00 PM, Dauer, Edward wrote:
The ARRL premium is relatively steep. But that's probably because it has a $50 deductible and,
according to some of the experiences posted on this thread, covers losses that may not qualify as
covered "occurrences" under some homeowners' policies. I just checked my own
"scheduled personal property" endorsement. The cost is on average $0.53 per hundred per
year, way less than half of the ARRL premium, varying with the type of property insured. And
because it's an endorsement to a combined home and auto policy, it will cover losses no matter
where they happen. But the deductible is $500 per occurrence and I can't say that the endorsement
would cover losses attributable to operator errors (e.g. frying a rig with a reversed polarity
power connection.) Since classically insurance is a way of covering large losses rather than
small ones, for me the difference in deductible isn't worth a double or triple premium; but that's
an individual preference.
Ted, KN1CBR
Edward A. Dauer
Dean Emeritus and Professor Emeritus of Law
University of Denver
Message: 7
Date: Fri, 7 Aug 2015 21:04:57 -0700
From: "Richard W. Solomon" <w1...@earthlink.net<mailto:w1...@earthlink.net>>
To: "'Elecraft List'"
<elecraft@mailman.qth.net<mailto:elecraft@mailman.qth.net>>
Subject: Re: [Elecraft] Rig Insurance
Message-ID: <000f01d0d18f$64e2ad50$2ea807f0$@net>
Content-Type: text/plain; charset="us-ascii"
All I found was the rates, $1.40 per $100. Seems a tad steep to me.
73, Dick, W1KSZ
Edward A. Dauer
Dean Emeritus and Professor Emeritus of Law
University of Denver
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