Re: Oops! and Insurance of Scopes

whowell wrote:
Shawn wrote:

The recent thread about the suicidal PST got me thinking:
I've got a 15" on the way and, although I'm careful with fragile things, the idea of having a $2000 chunk of glass has me thinking about my home owner's insurance policy.
I haven't contacted my agent yet, but does anyone have any experience or advice concerning astronomical mishaps?

Thanks,
Shawn

I've had insurance on the total of all my Castro equipment---scopes, filters, eyepieces, binos, etc.--- for about 6 years. I've made one claim for an eyepiece that someone knocked off a table, and it was quickly paid.

I have a "present replacement cost" policy which, regardless of what I paid for it, will replace it at the current price.

My policy is through the same agent that I have my home insurance policy with---and he strongly advised me NOT to add the astro gear to my home policy. I don't recall his exact argument, but it went along the idea that a rider on my home policy would not only have a deductible, but a limit on how much could be covered.

I have $ 11,000 of coverage--that's a total--which will pay the present cost as I prove it. Each year, when I renew, I must provide proof that to get the item today would cost whatever. If the item is no longer available, such as some of my eyepieces, I show the cost of the update replacement for that item. For this coverage, it costs me $ 106 per year.

This covers anything that could happen to the gear---theft, damage (including a dropped eyepiece), fire, damage if in an accident to or from an observing site, etc.

Oh yeah---my policy is with State Farm. It is covered through a camera policy. My agent had to convince the underwriters that it was a valid policy.....I know several others who have gotten similar insurance from State Farm by referring to my policy.

Further info willingly given.....

Thanks Wayne. That's the sort of info I was after.

Shawn
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