I used to represent insurers on just the kinds of claims being discussed here. I'm not going to go into the ins and outs of coverage or into whether insurers are good or bad. Everyone should read their policies, whether homeowners, auto, boat, dive, etc. Regardless of what people will tell you, if you are bright enough to use SB, you are birght enough to understand what is or isn't covered. One basic concept is the "all risk" policy. It covers all risks of direct physical loss unless otherwise excluded. Then the policy says what is excluded. Those are things where there are "moral risks" or unpredictable risks or where providing coverage would drive the price of the policy out of sight. An insurance policy is not a substitute for proper maintenance, which is why "wear and tear" generally isn't covered.
You'd be surprised at what is or isn't covered under a typical policy, whether homeowners, auto, boat, etc.
BTW: Dropping a camera overboard is generally not a mysterious disappearance. That's why the "care, custody or control" exclusion exists. Once you give the bcd/camera to someone else, the camera is out of your care, custody and control and if dropped. it ought to be covered.
READ THE POLICY, YOU'D BE AMAZED.
