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Lab Insurrance & Theft Prevention

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Phaedrus:
Flood insurance is often just that: only for natural flooding events or storm surges. A safe bet in most parts of Australia. Sprinklers or a water mains break would probably fall under something like "water damage".

In New Orleans, after Katrina, thousands of people had their hurricane insurance denied, on the grounds that the damage was actually due to "flooding" from the levee breaks or storm surge.

I trust insurance brokers less than used car salesmen.

electrolux:

--- Quote from: EEVblog on May 16, 2014, 11:26:20 pm ---
--- Quote from: KF5OBS on May 15, 2014, 05:23:56 pm ---And while we're discussing this, Alarm Systems are probably right along the topic as well. I always wonder what an average neighbourhood burglar would think of modern lab equipment. Some things, like my LeCroy HDO4024, look like a all in one PC. Other things may look meaningless. Does anyone have experience with break-ins either at home or at work and can share some real world results?

--- End quote ---

I know that test gear turns in cash converters (a pawn shop chain) here in Australia.
Likely the majority of it stolen. They probably wouldn't think to research the item on ebay and see what the going rate it, they just hock it for whatever they can get.
I don't have contents insurance my for lab, but I'm thinking about getting some quotes.
The only thing it would be good for though is a fire. Theft isn't really an issue in the office complex I work in. It's not impossible, but given the after hours swipe card access, regular security patrols, many dozens of offices to chose from on many levels, and no real history of office breakins in the area. So the odds are vanishingly small.
I will have a 24/7 Dropcam soon with recording, but that doesn't stop anyone.
If a fire did happen though, restocking my lab is probably the least of my worries. I could probably rebuild a useful lab and all the video gear for under $10K if it came to that.

--- End quote ---
we've got cash converters here in the UK. Yeah I know it's a useless quote, but hey.

jpb:

--- Quote from: EEVblog on May 18, 2014, 04:37:33 am ---They also want $43/month for $10M public liability insurance, and it seems you have to take both.

--- End quote ---

In the UK, from what I remember when running a small company, businesses legally have to have public liability insurance so insurance packages aimed at business would probably automatically include it. In fact I think we were legally obliged to display a certificate on the wall or maybe I'm confusing this with employer insurance.

Kohanbash:
Hi
If you put the gear you have on the home insurance policy form where it asks what you have, why would it not be covered (especially if you have proof/pictures that you have the said gear)?

If the total cost is in excess of your home owners policy you can typically get an umbrella policy to cover extras.

nctnico:

--- Quote from: EEVblog on May 18, 2014, 04:37:33 am ---I just got a quote for business contents insurance from Allianz
$30/month for $50,000 "material damage" contents insurance, $500 excess.
That includes flood (presumably fire in another part of the building and my lab gets soaked by the sprinkers, or water mains break in the roof?)
They also want $43/month for $10M public liability insurance, and it seems you have to take both.


--- Quote ---Material Damage cover is designed to provide protection for Your Business property from Damage caused by any sudden, unexpected or unforeseen occurrence not otherwise excluded. Under this cover, You are protected for all of Your critical assets enabling You to re-build your Business.
If You have chosen to insure Building and Contents cover, You will notice that We have pre-populated the Sums Insured under this section, You may choose to alter Your values or alternately incorporate Your requirements for these components.
Cover is available for Your Building, Contents, Stock in Trade and Customers goods.
There are a number of additional benefits which are available:
    Removal of Debris covers the removal, storage and / or disposal of debris, up to the greater of 10% of the Sum Insured or $50,000
    Fire extinguishment covers the cost incurred to replace fire fighting appliances or damaged materials caused in avoiding or minimising damage $25,000
    Temporary protection covers safety and protection of property pending replacement or repair $25,000
    Professional fees covers fees incurred to reinstate property, up to the greater of 10% of the Sum Insured or $20,000
    Government fees covers statutory authority fees incurred with reinstatement of Your Business property $5,000
    Rewriting of Records covers the cost of rewriting Your Business records $25,000
    Flood, if available and selected

--- End quote ---

--- End quote ---
Be sure to go over the fine print! I've seen insurance fineprint which basically rules out any coverage... Sometimes the fineprint is written is such an obfusticated way it is impossible to figure out what it means exactly. To me such texts mean: NEXT!

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