Equipment Insurance

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DavidRDiver

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Location
Mississippi
Some background.... Friday evening I arrived to a local city to do a little diving at the quarry. I stopped to get supper, and in the middle of supper overheard the wait staff trying to find someone with a truck that matched the description of mine. Well, lucky me the drivers side window had been broken out, my computer, clothes, reg bag, with regs and computer in it, Sola dive light, and Go Pro had been stolen. I have not talked to my homeowners insurance agent yet but am hoping all of my equipment will be covered.

My question is what do ya'll do for insurance for your equipment?

Thanks!
 
DavidRDiver:
Some background.... Friday evening I arrived to a local city to do a little diving at the quarry. I stopped to get supper, and in the middle of supper overheard the wait staff trying to find someone with a truck that matched the description of mine. Well, lucky me the drivers side window had been broken out, my computer, clothes, reg bag, with regs and computer in it, Sola dive light, and Go Pro had been stolen. I have not talked to my homeowners insurance agent yet but am hoping all of my equipment will be covered.

My question is what do ya'll do for insurance for your equipment?

Thanks!
Click to expand...
Well, that sucks. Pretty bold for them to break & steal during suppertime. Homeowners is all I carry, and I hope it'd pay some in such a theft - but I really don't know. I can you can get better coverage by listing things of special value on a rider to your homeowners, but I haven't explored that.

State Farm offers a Personal Articles policy that is really quite cheap and pays well. I had a run of bad luck the first couple of years I had the policy, and they paid really well on some things. Then they dropped me, but I wasn't surprised.
 
My car insurance will pay out for such events. However it wont pay for it if the dive gear is in the car overnight and not in a private garage.
My travel insurance would also pay for it as that one cover me on any trip away from home, all year round..

Sorry for your loss, hope you can get it covered by your homeowners insurance :/
 
I hold special dive equipment insurance, currently through DAN, but formerly through another entity I wouldn't recommend. It includes flood insurance for my housing and camcorder. Not sure if other forms of insurance cover that.
 
I'm not a big fan of insurance. For many years, my mantra has been "if you're about average risk & can afford to lose it, don't insure it"

Insurance is math. Risk multiplied by value, plus company overhead, equals insurance price. Generally, I'm a below-average risk consumer. If I can afford to buy new stuff when the bovine manure impacts the rotating ventilation device, I don't insure that stuff. I take the risk, and the insurance company doesn't reap the overhead benefits. So far, I've been one car down, but if I average the cost of replacing that wrecked car over the number of years I've been driving, I'm still on the winning side.
 
Storker:
I'm not a big fan of insurance. For many years, my mantra has been "if you're about average risk & can afford to lose it, don't insure it"

Insurance is math. Risk multiplied by value, plus company overhead, equals insurance price. Generally, I'm a below-average risk consumer. If I can afford to buy new stuff when the bovine manure impacts the rotating ventilation device, I don't insure that stuff. I take the risk, and the insurance company doesn't reap the overhead benefits. So far, I've been one car down, but if I average the cost of replacing that wrecked car over the number of years I've been driving, I'm still on the winning side.
Click to expand...
I generally feel about the same, with exceptions. State Farms Personal Article policy is so cheap and so good, I tried it - won big time before they cut me loose. Some new purchases I'll insure if they cost is cheap; many I won't.

A home I live in is worth insuring tho, and if I incurred a major theft like the thread starter did - I'd hope for some payment.
 
Is the State Farm thing a separate policy or a rider onto homeowners? Is it available even if you don't have State Farm for homeowners?


Please pardon any typos. Sent from my iPhone using Tapatalk
 
Storker:
I'm not a big fan of insurance. For many years, my mantra has been "if you're about average risk & can afford to lose it, don't insure it"

Insurance is math. Risk multiplied by value, plus company overhead, equals insurance price. Generally, I'm a below-average risk consumer. If I can afford to buy new stuff when the bovine manure impacts the rotating ventilation device, I don't insure that stuff. I take the risk, and the insurance company doesn't reap the overhead benefits. So far, I've been one car down, but if I average the cost of replacing that wrecked car over the number of years I've been driving, I'm still on the winning side.
Click to expand...

I agree. Homeowner's or tenant policy offers some coverage, as one time I had my rental car broken into and my suitcase stolen and I was able to recoup most of my losses with tenant policy. I looked into insurance for my point and shoot camera gear with DAN and it just did not pay. Perhaps for the expensive camera gear Bill carries it makes sense.
 
All told my loss is around 10K, kind of the perfect storm. Not many other times that I would have all of my gear plus work computer in the vehicle. There was a firearm that was stolen and well. I do have a specific rider for my guns.

Thanks for the replies
 
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