Bad news, then good news about DAN equipment insurance

[DandyDon]

Depending on your homeowners carrier, they might cover it. Direct physical loss is defined differently by different carriers. My back ground is corporate insurance and not homeowners so I can't speak too specifically about homeowners but it might be worth a try. They might cover it even if you did not have it specifically scheduled. Call your agent.

Don't expect anything. You may want to check anyway, but your Homeowners deductible is usually 1% of the house coverage, therefore wouldn't cover this loss.

Even if it did pay, you want to risk having your house insurance cancelled over this...?

don

 

[cdiver2]

Just spoke to DAN and had to eat crow. The policy do's state,
PERILS EXCLUDED: C Unexplained loss, mysterious disappearnce, or shortage disclosed upon taking inventory.
Like everyone else I took the word loss literally, my fault I should have questioned C.
I can understand this after being told the loss to the Insurance Co in the first couple of years. As it was told to me "names changed" Lou in NY calls DAN on monday and asks about equipment insurance, he calls again on Tuesday and takes out insurance. Wednesday he calls with a $15000 claim. If DAN let this continue they would be out of business in a very short time then we would be back to the posts " I can't find a insurance company to cover me "I think the only people we can get upset at are the dishonest ones. Its the same old story the few make it hard on the rest of us.

 

[Genesis]

Ok, so, if you lose it, even on a dive, tough.

That makes it much less useful. You are basically buying theft insurance where the theft has to be accompanied with some kind of evidence of force.

So exactly what were you insuring (that you didn't already have covered under your homeowners) again?

 

[MildlyDamp]

I read a very disturbing article on DAN in general on scuba-forum.com:

http://www.scuba-forum.com/forums/peter_bennett/peter_bennett.html

I have no idea if any or all of what they say about DAN's financial mismanagement is true, but if it is, it's no surprise that they're dragging their feet on paying claims.

 

[cdiver2]

Ok, so, if you lose it, even on a dive, tough.

That makes it much less useful. You are basically buying theft insurance where the theft has to be accompanied with some kind of evidence of force.

So exactly what were you insuring (that you didn't already have covered under your homeowners) again?

It is tough but we only blame the people making false reports, as I see it DAN has done nothing wrong but maybe could have explained c a little better but as I said I was just as guilty. Rushed through the policey and said great, If I had taken the time to read it then I would have questioned C.

I dont know about Cal but in FL it is geting hard to even get home owners, we were droped by our company after 12 years no claims. We were told they dont insure after the home reaches a certain age, I called dozens of companys and was told the same thing. There is only one that will a goverment body but they will not cover personal property outside of the home.

 

[pipedope]

That unless the gear was stolen and the theif left you a receipt you are SOL and even then they probably won't pay.

Nice racket.

 

[cdiver2]

I read a very disturbing article on DAN in general on scuba-forum.com:

http://www.scuba-forum.com/forums/peter_bennett/peter_bennett.html

I have no idea if any or all of what they say about DAN's financial mismanagement is true, but if it is, it's no surprise that they're dragging their feet on paying claims.

DAN is not the carrier just agents, the Insurance Co is called H2o.

 

[Genesis]

A big part of the problem is that insurance companies have managed to carve out exceptions to anti-trust law for themselves.

This is why they can pull 90% of what they do pull - specifically, how they all collude amongst one another.

We have only ourselves to blame for not insisting that the law apply to everyone and every line of business, and that it actually be enforced. We put the people in elective office who allow this kind of scam to be perpetrated - it is, in the end, our (collective) fault.

 

[cdiver2]

That unless the gear was stolen and the theif left you a receipt you are SOL and even then they probably won't pay.

Nice racket.

DAN said if the equipment is stolen all they ask is that you make out a police report, no matter what country you are in, if it is not in english thats ok, If it occurs within a airline make a report to the airline.

 

[cdiver2]

A big part of the problem is that insurance companies have managed to carve out exceptions to anti-trust law for themselves.

This is why they can pull 90% of what they do pull - specifically, how they all collude amongst one another.

We have only ourselves to blame for not insisting that the law apply to everyone and every line of business, and that it actually be enforced. We put the people in elective office who allow this kind of scam to be perpetrated - it is, in the end, our (collective) fault.

It is our fault or should I say the fault of the thief's that make false claims.
I personally would not like to insure somebodys equipment carte blanche, tell me you lost it I pay, I dont think so.
The trouble is we all think everyone in our diving fraternity is as honest as our self's, nice but wrong. In fact you dont have to be a diver to get the insurance, just call DAN get $5000 worth of coverage then call them again a couple of days later and make a claim. Laughing all the way to the bank.