Does anyone have any preference to the H20 or D.E.P.P equipment insurance? Which do you use and why.Any info is appreciated.
D.E.P.P. vs Dan H20 insurance
Started by
Travelnsj
, Jul 11 2006 11:31 AM
2 replies to this topic
#1
Travelnsj
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Posted 11 July 2006 - 11:31 AM
Does anyone have any preference to the H20 or D.E.P.P equipment insurance? Which do you use and why.Any info is appreciated.
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#2
ScubaDadMiami
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Posted 11 July 2006 - 11:41 AM
I believe that ScubaTooth knows what the deal is when it comes to equipment related insurance.
"The most important thing is not to stop questioning." Albert Einstein
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"For the diligent diver, closed circuit rebreathers are actually safer than open circuit scuba." Tom Mount
#3
Scubatooth
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Posted 11 July 2006 - 12:10 PM
well my ears are burning and i refresh the list and see this.
as for insurance for gear in general i dont use any of the policys that are out there (DEEP and H20) because there premiums and deductables much higher then what i get from state farm.
what i have is a personal articles policy (Inland Marine Policy) that is not attached to a home owners policy (standalone) that i use to cover my scuba, photo gear as well as any articles that leave the house on a regular basis. This policy has no deductable and i only pay a premium once a year at a rate or $1.20 per $100 and im gonna have to look but i think i have like 15,000 in insured items. For them to cover it all i have to provide is a description , S/N and value.
Right now im in the middle of filing claims for some items on the policy that got damaged in NC (a nikonos body and 20mm lens that are in for eval, most likely toast, and i have a c5050 at olympus for a failed sensor as well)
as for valuation when i asked the agent what they wanted for the policy and they told me that they wanted was a easily verifiable price that they can find or call for. so i have on file the reciepts for the purchases as well as the current price listing with major dealers (which in most cases match each other)
I know that may sound wired to value a item higher that is only worth about 1/2 currently(nikonos gear values from www.bhphotovideo.com as opposed to ebay) but its easier for the agent and in the long run will help if anything happens so as to make it easier to replace any items.
I do know that a couple of the insurance companys will only pay claims on market value which may not be very good at all, especially if you paid much more for them and are now discontinued.
FWIW
Tooth
as for insurance for gear in general i dont use any of the policys that are out there (DEEP and H20) because there premiums and deductables much higher then what i get from state farm.
what i have is a personal articles policy (Inland Marine Policy) that is not attached to a home owners policy (standalone) that i use to cover my scuba, photo gear as well as any articles that leave the house on a regular basis. This policy has no deductable and i only pay a premium once a year at a rate or $1.20 per $100 and im gonna have to look but i think i have like 15,000 in insured items. For them to cover it all i have to provide is a description , S/N and value.
Right now im in the middle of filing claims for some items on the policy that got damaged in NC (a nikonos body and 20mm lens that are in for eval, most likely toast, and i have a c5050 at olympus for a failed sensor as well)
as for valuation when i asked the agent what they wanted for the policy and they told me that they wanted was a easily verifiable price that they can find or call for. so i have on file the reciepts for the purchases as well as the current price listing with major dealers (which in most cases match each other)
I know that may sound wired to value a item higher that is only worth about 1/2 currently(nikonos gear values from www.bhphotovideo.com as opposed to ebay) but its easier for the agent and in the long run will help if anything happens so as to make it easier to replace any items.
I do know that a couple of the insurance companys will only pay claims on market value which may not be very good at all, especially if you paid much more for them and are now discontinued.
FWIW
Tooth
Edited by Scubatooth, 11 July 2006 - 12:12 PM.
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