Quote:
Originally Posted by tlgerdes
Exactly, you are weighing up the risk of a single loss event against the month premium.
$55 per month x 12 mo = $660 x 10yrs =$6600 (and that's not factoring in inflation)
Are you going to lose $6600 of equipment every 10years out in the field ?
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Depending upon your investment amount, that may be an incorrect way to look at the premium. If you incur a once off loss, most likely in the form of a serious car accident rather than theft, you could be losing 30k to 90k of equipment. The above analogy is insignificant to the once off loss.
In my case, my equipment is covered anywhere, and it costs about $1800 a year. You just need the right policy for your equipment value. If someone has only 2k-4k invested, I can understand the apprehension to insure.
Steve