Why it irks me that I have DEPP insurance....
- Thread starter vetdiver
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scubaguy655
Contributor
Aeolus
Guest
I have been looking for an insurance policy to cover my new DSLR (Olympus E-510) and other camera equipment (housing, strobe, case, dome port, etc.). I have checked out several options and have concluded, at least for me, that I wanted to go with a Personal Article Policy from State Farm. It seems like it covers EVERYTHING, with no deductible or restrictions on location OR method of loss. It would cover flooding, theft, damage, etc. regardless of the reason. I hope that I never have to find out how good it is: but thusfar I am elated with the coverage they have stated. The REALLY good news is that it only cost $40.25/year for coverage of my stuff (~$2500). It is a stand alone policy that does not link to my homeowner's or auto insurance. I hope this helps. 
ps - I AM NOT AFFILIATED WITH ANY INSURANCE COMPANY ! Just a diver.
pps - Be careful about using your homeowner's policy, as it will come under the LARGE debuctible for the whole house.
ps - I AM NOT AFFILIATED WITH ANY INSURANCE COMPANY ! Just a diver.
pps - Be careful about using your homeowner's policy, as it will come under the LARGE debuctible for the whole house.
So, 4 weeks after sending in my camera & housing I do not have a resolution. However, when I checked on it I did get a reply email, and also have had someone answer both times I called. So no service problems, just trouble getting the evaluation done. To be continued........
Received a reply today on the status. Camera toast and housing fixable. So 4 weeks from submission to decision. Now I will see how long it takes to get a replacement (once I decide what to get- my camera is discontinued).
Saltwater Junky
Contributor
Bad service is bad service and no one should have to neither endure nor tolerate it. There is no excuse for a company not contacting you. In regards to DEPP's associate stating they sent 2 emails...it is possible they did and the emails ended up in your Spam/trash/or deleted folders. You may want to check there to confirm. Your email service provider may recognize DEPP's emails as Spam and autoroute them to your Spam folder. We encounter this at my place of work. The difference in service is we have made our agents aware of the problem and they can assist our customers with this issue.
Now, having 1 claim and the rates increase.... well, there could be several reasons:
1. Not so sound of an insurance company...look for a company that has a financial rating of A+ or better. This means they are more likely to be around when you have a claim and will be able to pay for the claim up to the policy limits.
2. The company's underwriting guidelines...they vary from company to company. These are a set of criteria (prior claims, credit, employment..to name a few) evaluated to determine the type of risk.
A. A High risk could possibly have 1 claim and the rates increase at renewal or the policy is non-renewed. Now, on the other hand a preferred risk given the same scenario may not see an increase.
B. Previous claims w/company and another claim within a set experience period...generally 3 years - claims w/in 3 yrs of policy effective date are underwritten and could be surcharged
C. With claim the risk no longer qualifies for the same placement (preferred-standard-high risk) and policy is moved down a placement where rates are higher.
D. Frequency of claims - too many claims in a period of time - could cause a move down or non-renewal.
I apologize for the length and hope this sheds some light.
Now, having 1 claim and the rates increase.... well, there could be several reasons:
1. Not so sound of an insurance company...look for a company that has a financial rating of A+ or better. This means they are more likely to be around when you have a claim and will be able to pay for the claim up to the policy limits.
2. The company's underwriting guidelines...they vary from company to company. These are a set of criteria (prior claims, credit, employment..to name a few) evaluated to determine the type of risk.
A. A High risk could possibly have 1 claim and the rates increase at renewal or the policy is non-renewed. Now, on the other hand a preferred risk given the same scenario may not see an increase.
B. Previous claims w/company and another claim within a set experience period...generally 3 years - claims w/in 3 yrs of policy effective date are underwritten and could be surcharged
C. With claim the risk no longer qualifies for the same placement (preferred-standard-high risk) and policy is moved down a placement where rates are higher.
D. Frequency of claims - too many claims in a period of time - could cause a move down or non-renewal.
I apologize for the length and hope this sheds some light.
mikerault
Contributor
AS far as I understand how State Farm works the loss has to be from an accident such as running over it, it can't be oops...I just dropped it overboard. As many may recall I lost my Canon 20D, Ikelite housing and strobes (2-DS51) on a dive in Lake Lanier, Ga. I called StateFarm and they said, nope, that kind of loss is not covered. Now, if I would have lied and said someone stole it from my car, bang, instant coverage. However to end on a happy note, I found it 8 weeks later with no damage.
RonFrank
Contributor
I can not speak for all states, but in CO my StateFarm policy covers everything. From OOpps to Ahhhcrum, to ohhh crap, to damnitall, it is covered! This is NOT my main policy, but a separate policy dedicated to my camera equipment, and diving gear.
O'Malley
Contributor
I've insured my rig with DEPP for the past couple years now and found them to be responsive...if I haven't talked with them they've resonded by email, phone promptly. I have, however, yet to file a claim :51:
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