Insuring your gear

StuTodd · #1 06-10-2016, 03:02 PM

Now I don't know if I just got a duff customer service assistant, but the normally good AA insurance said they won't insure my telescope, mount, spectrograph, cameras etc as it is too "specialized"...I need to find another insurer for my gear.

Who do you use and have you had issues with insurance before?

Stu

deanm (Dean) · #2 06-10-2016, 03:36 PM

I recently made a water damage claim ($5k+) to Elders insurance.

They bent over backwards to pay...!

Very recommended.

Dean

Merlin66 (Ken) · #3 06-10-2016, 04:26 PM

Dean,
Was the claim on astronomical gear?
How was it specified?

DJT (David) · #4 06-10-2016, 09:17 PM

NRMA covers me under outdoor pursuits and hobbies. I just totted up the replacement value and added it to household contents. I did call them and specifically detail what the items were and their value and the rep did a couple of checks and said no worries. I review each year as the pile of stuff conti use to increase.

StuTodd · #5 06-10-2016, 09:41 PM

I think anything over a certain amount (which escapes me) has to be itemised and value declared individually. I'm not sure if most telescopes, mounts and CCD cameras (DSLRs can be under household items) will be covered under household items, as indeed the nics AA lady mentioned to me.

Are we perhaps under-insured or even uncovered for loss of astronomical equipment folks?

brian nordstrom (As avatar) · #6 06-10-2016, 10:36 PM

I highly recommend Shannons , we have our 2 bikes. , 2 4x4,s and contents with them and all my astronomy gear is included. , no questions asked , a little more expensive than some but very good to deal with .
Like earlier in the year when a car pulled out of a. Stop sign on my left and took me out on m bike they fixed the bike at a repeirer of my choice. , new helmet , gloves. , jacket and boots for zero access and questions asked. , just got on with the job. , a real breath of fresh air.
Brian.

LewisM · #7 06-10-2016, 10:42 PM

Had the astro stuff listed as seperate and portable items in my Suncorp H&C policy for MANY years. No probelms whatsoever, and SPECIFICALLY listed make, model, value.

Reminds me I need to update it AGAIN. Never ends...

billdan (Bill) · #8 06-10-2016, 11:22 PM

Thanks for bringing up the the subject Stu, I have always assumed it would be covered by household contents clauses.
I'm with Suncorp and they have always being great when it comes to any rare claims I have made. So I really should tell them about the Obs and the contents in it. Just so as there are no misunderstandings later.

Bill

EDIT: Stu did you mean AAMI ?, they are owned by Suncorp.

N1 (Mirko) · #9 07-10-2016, 07:39 AM

Too specialised? Dunno, but I don't see how astro gear is any more specialised than, say, a motor bike. Or a fishing rod. Or a surf board. Or most of all the other carp floating around at home.

Could you demonstrate how astro photography is in fact photography and so the gear is basically photo gear?

StuTodd · #10 07-10-2016, 10:59 AM

Quote:

Originally Posted by billdan

Thanks for bringing up the the subject Stu, I have always assumed it would be covered by household contents clauses.
I'm with Suncorp and they have always being great when it comes to any rare claims I have made. So I really should tell them about the Obs and the contents in it. Just so as there are no misunderstandings later.

Bill

EDIT: Stu did you mean AAMI ?, they are owned by Suncorp.

No Bill, AA as in Automobile Association. They've always been great but won't touch the astro stuff.

It would be advisable to let your insurer know about the obsy for sure, peace of mind...

Stu

multiweb (Marc) · #11 07-10-2016, 12:41 PM

+1 House and content insurance should cover the gear. Mine covers it at home, in the backyard and even in transit.

Atmos (Colin) · #12 07-10-2016, 12:49 PM

I've been thinking about insuring my stuff, keep forgetting about it! Should probably be doing the ring around. RACV Silver Member and have my car insurance with CGU (for mortgage purposes). Any insurance companies to keep away from?

glend (Glen) · #13 07-10-2016, 03:32 PM

Imho, having insurance makes you careless, and not everyone can afford to fork out more $ for specified gear. If your gear is normally kept inside the house, or a home based observatory there are effective security measures available. Keep a low profile about what you have and who knows. PublishIng equipments lists on forums just invites unwanted visitors, just ask the car forum guys. Get a Beware of Dog sign from Bunnings for example, even better get a dog; they are great companions and will at least signal when someone tries to get to the gear. Oh, and don't live in a high risk burgulary area, but really DSLR cameras, power tools, big screen TVs, are much easier to get rid of for most thieves. Telescope gear might be worth some money to the right buyer but they tend to ask questions about it that the thief cannot answer.
But hey its your money, if you have it and feel comfortable giving it to a very profitable insurance company go right ahead.

Merlin66 (Ken) · #14 07-10-2016, 04:05 PM

Glen,
I understand your logic, but when you collect some expensive astro gear, insurance (well effective insurance) is worth considering.
Not just for theft/ fire but accidental damage....
I would double check your household policy re maximum payout values and the definition of "broken or chipped glass"
From experience not all astro gear is "automatically" cover. (it usually required specified articles with nominated values to be defined and additional premiums)

Atmos (Colin) · #15 07-10-2016, 04:35 PM

One of my big considerations is via transport. Car insurance policies do cover contents but only in a VERY limited fashion. My dark site is in roo country (like most of Aus I'd imagine!) and even with everything boxed up it wouldn't potentially take much to cause considerable damage to some equipment.

LewisM · #16 07-10-2016, 06:15 PM

Glen, my insurance is not so much theft (but is covered for that) but accidental damage. My gear is specifically listed and specifically as portable.

Just imagine mounting or demounting your heavy mak newt and you got a cramp or somesuch and drop it.... no insurance you are snookered. Specifically insured you are fine.

Atmos (Colin) · #17 07-10-2016, 06:36 PM

Quote:

Originally Posted by LewisM

Glen, my insurance is not so much theft (but is covered for that) but accidental damage. My gear is specifically listed and specifically as portable.

Just imagine mounting or demounting your heavy mak newt and you got a cramp or somesuch and drop it.... no insurance you are snookered. Specifically insured you are fine.

Or if I am walking down the stairs with the telescope and one of the dogs "deliberately" gets tangled in my legs! Topple down I shall.

StuTodd · #18 08-10-2016, 02:25 PM

Quote:

Originally Posted by N1

Too specialised? Dunno, but I don't see how astro gear is any more specialised than, say, a motor bike. Or a fishing rod. Or a surf board. Or most of all the other carp floating around at home.

Could you demonstrate how astro photography is in fact photography and so the gear is basically photo gear?

I know what you mean Mirko but I don't think insurance companies like suprises. They wouldn't like you telling them that the camera "lens" was a 17" Planewave or the ME mount needs replacing, without first having declared their value. When I mentioned the value of my spectrograph she went to find her supervisor...computer says NO.

deanm (Dean) · #19 08-10-2016, 08:23 PM

My claim with Elders was for a flood-damaged C11 OTA (& Motofocus & expensive EP.

The terms of the policy were that any individual item >$5K needed to be indexed.

Other than an upper threshold, (as indicated above), there is no reason a 'scope should be dealt with any differently than your surf board, scooter, RC heilcopter or whatever.

MX mount? Getting into big bucks & (to most non-cogniscient viewers), highly specialised gear - which may be dealt with differently, depending on your insurer.

Dean