General > General Technical Chat

Lab Insurrance & Theft Prevention

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KF5OBS:
Allianz is a good insurance, Dave. My parents did many things through them in Europe. Had plenty of claims, never had a problem. But it seems that insurance companies are rather sneaky with their fine print. I remember some home insurance in Europe covering "natural water" (Rain, Flood, etc.) but not "Tap Water" (Bath Tub / Toilet going crazy, etc.) . So I remember that our fire department got a very angry call once from a restaurant owner. His roof was on fire, we put it out and soaked just about anything in thousands of liters of water. The insurance was willing to pay for the fire damage, but not for the water damage. So he would have been better of if we would have burned it down. Odd thing happened: After the place was cleared for "renovation", the rest of the house caught fire. Go figure! :)

Gun reference deleted

EEVblog:

--- Quote from: nctnico on May 18, 2014, 07:21:28 pm ---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!

--- End quote ---

Which is almost why it's pointless to read them.
Any insurance company can try and screw you over based on interpretations of the disclosure statements.

EEVblog:
Got a quote from the NRMA for the same thing. $5M product & public liability, and $50K coverage for contents.
Was just under $60/month. Much better than Allianz. But I haven't read the PDS's yet.

Towger:
The small print  :scared:

Many have this scenario written in the small print:
You think your contents is covered for up to 50K and you will live with any loss above that.
i.e. 50K will get you back up an running again.
But, if you have a claim and they decide your contents are worth 100K, they will only payout 25K. In their eyes you have only insured your contents to 50% of their value.

EEVblog:

--- Quote from: Towger on May 19, 2014, 11:51:58 am ---But, if you have a claim and they decide your contents are worth 100K, they will only payout 25K. In their eyes you have only insured your contents to 50% of its value.

--- End quote ---

How do they know if your contents are a charred mess?
The whole point of complete disaster "contents" insurance is that it is the value you are insuring everything for, you pick the value, not them. Like agreed value insurance for a car instead of "market value".

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