Equipment insurance - suggestions

[turbo_pascale (Rob)]

Hi all,

I have just purchased some new astro gear, and looked in to adding it to my home & contents policy. They will only insure specified items to $15K, unfortunately, this item is $20K.

They won't insure it at $15K because I would be willfully under-insuring it.
Unspecified items don't get covered unless there's a total loss (eg. the entire house burns down).

Does anyone know of any insurers that from personal experience will be able to solve my problem (obviously in Australia). Happy to move my entire H&C policy if required, or I would entertain specific coverage for the astrogear, although I suspect that might be a bit specialised.

I'm taking it there are quite a few people on here with some very pricey gear, so someone must have been down this road before.

[ronson]

Can you add them as additional items not covered by the standard inclusions? Though this will result in your premium increasing.

[strongmanmike (Michael)]

Hi Rob

Will you be taking the gear to dark sites etc or just using them in the back yard?

I have only ever been with NRMA, when my observatory was on someone else's property (2014-2022), I could not insure the structures (Dome, deck and site shed) and the only way I could have the equipment covered was to get specified portable items insurance, just had to describe any individual items worth over $10K and obviously have enough in total to cover if I ever needed to claim the lot, this sort of insurance is more expensive of course but still affordable. The owners of the property on which the observatory was built kindly included an amount, to cover my structures, in their building insurance.

Now the new observatory is on my own property and I won't be taking any of the gear from inside anywhere, I have the structures covered under my home building insurance and all the astro gear included in a normal home contents policy, in this case NRMA don't need the over $10K details anymore, just have to make sure I have enough to cover everything if I make a claim, the premiums covering the astro gear portion are much lower now too, so the wife is happier .

Mike

[turbo_pascale (Rob)]

Thanks Mike.

It's on my own property (it will be in the dome), but it **may** go out on field trips (it's a new mount). Everything else I have will fall under the $15K limit of individual specified items. It's just this one item that makes it a problem.

I may have to check out RACV (NRMA for Vic) and see what they say.
Or I might try a broker who has more patience than I do on the phone.

[turbo_pascale (Rob)]

Originally Posted by strongmanmike

I have the structures covered under my home building insurance and all the astro gear included in a normal home contents policy, in this case NRMA don't need the over $10K details anymore, just have to make sure I have enough to cover everything if I make a claim,

The bit that got me with Coles Insurance (IAG) is that they also said it didn't matter if I didn't specify it as part of the broader contents insurance.

BUT: Unspecified items don't get covered unless there's a total loss (eg. the entire house burns down).

If someone just came and stole the stuff out of the dome (and wrecked the dome in the process), it's not covered.

Which I totally do not understand. I fear that if the day comes, this grey area may end up being something that will not work in my favour.

[Wussell (Russell)]

I too am looking at insurance. I spoke with the RAC and they said that their house and contents insurance do not cover astro gear outside of the house, eg in the garden. Something to ask when looking for insurance.

[glend (Glen)]

Highly recommend a dog. And fence your backyard if not already done. It doesn't have to be a dangerous breed, even my old Labrador will bark to call me.

[Craig_]

I have all my astro gear on the same insurance policy as my standard photography gear. I use PPIB, which provide specialist insurance for this stuff. It's not super cheap though, I think it's about $800 a year for like $30k in coverage but gear is covered worldwide including for accidental damage. I've claimed once and it was paid out no issues.