Flood insurance
- Thread starter justbeCoz
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DvrRick
Contributor
I just signed up with State Farm.
The Pro's: NO deductible.
All losses covered (run over the camera 2 or 3 times with your car
and.....it's covered! Drop it into the abyss and....it's covered)
NO deductible
Lower cost
NO deductible
Con's: Haven't found one.
The Pro's: NO deductible.
All losses covered (run over the camera 2 or 3 times with your car
and.....it's covered! Drop it into the abyss and....it's covered)
NO deductible
Lower cost
NO deductible
Con's: Haven't found one.
crpntr133
lost, even with a compass
Is this a rider on a homeowners policy or a seperate policy?
DvrRick
Contributor
crpntr133:
It's an individual policy for the specified property only. I don't have any other insurance with them except for my dive/camera gear. Contact any local agent and after their initial confusion :06: about insuring dive equipment they will get you the forms. A bonus is that flood coverage does not cost extra and camera equipment is actually less expensive to cover than the dive equipment. I paid about $50 for $3000 in coverage, well below DAN and DEPP.
TostitoBandito
Contributor
DvrRick:
Hmmm. When I talked to my agent they said that I could get insurance with a renters/homeowners policy that could cover dive gear, cameras, etc... It had a $500 deductible though. Nothing like what you described. What is the exact name of the policy/forms you got?
DvrRick
Contributor
TostitoBandito:
The paperwork says "State Farm Personal Articles policy".
The problem with a homeowners policy (Other than the deductible) is that any claim can raise your home insurance rates. Let me know if you need any other info.
jakubson
Contributor
DvrRick:
I just called a local State Farm Agent. Here's the details:
For my zipcode, the cost is $1.52 per $100 insured. Each item is listed, and a replacement value for each item must be stated (and insured for). There is a minimum premium of $30, which equates to a minimum insured amount of $1973.
The agent at first told me that scuba gear was not covered, but when I told her that I read on this board that it is, she called the regional office and verified that it is covered.
Hope this helps.
DvrRick:
I checked with my Allstate agent and they too have a policy for cameras, however it will not cover the flood issue. The analogy that he gave me as to why it would not be covered left something to be desired - he equated the flood issue to a wear item like brakes on a car. Nonetheless, the coverage is still cheap and I may simply add the DEPP policy as a backup. I may also check into obtaining coverage for everything through State Farm as DvrRick suggests. I just don't want to change my homeowners policy just for this issue. Too many claim free years to start over at higher premiums.
Because my agent is also a diver I trust his knowledge of this issue. He told me that he can add $3000 worth of "sporting goods" coverage onto my homeowners policy for about $40 annually,. This will cover any lost (fell off the boat), damaged (somebody drops their IMAX camera on it) or stolen equipment with a max amount of $2000 for any one item. My Oly 5060 and othet accessories are covered anyway under my homeowners policy while traveling because the total value does not exceed 10% of my contents insurance. The real issue is "will all this duplicate coverage be less than a single policy" ? I'll just have to see.
DvrRick
Contributor
I was told flood damage is covered with State Farm. Also camera gear actually costs less than the dive gear to insure. The Personal Articles is the only policy I have with State Farm; no homeowners, auto, etc. I was also told all damages are covered, ie: if I run over my camera a few times with my vehicle the damage is covered. (Just an example, it's new equipment and I'm very happy with it so don't get any ideas )
Hmmm....it sounds like I'm pushing State Farm, maybe they'll give me a commission?
Here's my coverage specifics:
$778 camera equip.
$2338 personal property (dive equip)
$46 yearly cost total
)Hmmm....it sounds like I'm pushing State Farm, maybe they'll give me a commission?
Here's my coverage specifics:
$778 camera equip.
$2338 personal property (dive equip)
$46 yearly cost total
mwrager
Contributor
State Farm also has a 0 deductible, they pay to fix it or pay you the money that you insured it for.
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