Away from home insurance recommendations?

[stevous67]

Hi all,

I just was interested to know if anyone has researched insurance options for their astro gear whilst out of the home?

Theft is one thing, but the higher risk I fear is having a rear end collision [into me], where the precious gear in the boot is pancaked.

One friend has insurance, and it’s about $800-$1,000 for 20K of cover [so he recollects]. In his case, I don’t think its enough, considering his SBig 11K, WO132, Vixen Atlux, his range of eye nice pieces and other fittings, camera filters, laptop, guide scope, guide camera, 40amp Engel power supply, special fold up seat, 10km of leads, plus stuff and more stuff one carries when they go bush. At the least, he’s wise enough to have 20K of coverage!!

All people have different equipment levels, and insurance demands can greatly vary. I cannot write here what I think my away cost would be [my lovely wife will be interested too much to read this], but may be someone has already done some research into this and would like to share this valuable information on which insurance provider scored well.

Thanks for any comments. As I research, I will write in some results.

Bye,

Steve

[AdrianF]

I have Suncorp Insurance and I opted for the Away from home insurance. From memory I pay $600+ a year for Household insurance, which includes insurance for transporting astro gear and cameras to and from dark sites for replacement value. I tried other companies but Suncorp was the better value and more options.

Adrian

[stevous67]

Terrific Adrian! Thanks for the advice.

Steve

[acropolite]

I have my house insurance through CGU, my personal effects including astro gear are covered up to $10K anywhere in the country.

[Nightshift]

Ummmmm, you dont need house insurance you need car insurance for that, check with your broker, I dont think house insurance will cover any object damaged during a car accident.

[acropolite]

My policy at least covers loss (incl theft and accidental damage outside the house anywhere in Australia.

[stevous67]

Hi,

MV insurance is just for the MV. I've called a couple insurers so far, and the gear must be separately listed under contents, for away from home cover.

This type of specified insurance is turning our to be very expensive. I'm going to keep looking for alternatives [home+contents+car=reduced overall premium].

Steve

[Louwai]

I rang around last year & was very disapointed.

I asked for theft, accidental loss or damage australia wide for $40k of gear added to my contents insurance.
From 6 different insurers the cheapest annual premium I could get was $3k.

So I'm VERY careful when I've got the gear away from home :sadeyes:

[stevous67]

After calling many insurers, it came to be too hard. So I called a broker for assistance: GB Hiscock [our work insurance broker].

They have now provided 6 solutions, with the best policy being provided by Chubb, under their premium insurance policies. It was by far the most economical policy, with huge flexibility. Basically, the result was that all contents of our home becomes transportable and covered outside the home - remarkable. There was no need to specify any items separately, and I have no $ limit on gear taken away from the home at any one time.

There were no conditions imposed for granting the policy. The acceptance of the policy also includes a free valuation of our home.

An excellent result. This policy cost an additional $1,100 on our existing policy, which ended up being a way under insured combined policy anyway. I can only recommend to all to work out your asset holding accurately and not to guess your homes value [including a demolition cost – if necessary], and that you work out room by room what you contents value is. Count every item, including cabling, linen, shoes, and other easily forgotten thing that adds up significantly in the end. I did this by spreadsheet, having a sheet for every room and closet. We ended up doubling our last contents insured value [minus the Astro gear].


In response to Brian, its not easy to arrange this kind of insurance without support. Of course you can do it on your own, but a broker in the know is a great help. I've known these guys for 13 years, and their service is honest.


I am now finally comfortable about going out with my gear.


Bye

Steve

[stevous67]

Just one last thing. When you calculate you gear total replacement cost, don’t stop at just calculating your scopes, cameras and mounts. Include you laptops, eyepieces, millions of fittings and spacers, your guide rings, you guide scopes and cameras, your finders, your travel cases, torches, everthing! You may just double the cost of your main scopes and mounts by including all. Its not for the faint at heart...