Author Topic: Lab Insurrance & Theft Prevention  (Read 22701 times)

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Offline KF5OBSTopic starter

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Re: Lab Insurrance & Theft Prevention
« Reply #50 on: May 19, 2014, 01:06:55 am »
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
« Last Edit: May 19, 2014, 02:41:19 am by GeoffS »
 

Online EEVblog

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Re: Lab Insurrance & Theft Prevention
« Reply #51 on: May 19, 2014, 10:27:55 am »
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!

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.
 

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Re: Lab Insurrance & Theft Prevention
« Reply #52 on: May 19, 2014, 10:30:12 am »
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.
 

Offline Towger

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Re: Lab Insurrance & Theft Prevention
« Reply #53 on: May 19, 2014, 11:51:58 am »
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.
« Last Edit: May 19, 2014, 11:57:07 am by Towger »
 

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Re: Lab Insurrance & Theft Prevention
« Reply #54 on: May 19, 2014, 11:55:41 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.

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".
 

Offline Towger

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Re: Lab Insurrance & Theft Prevention
« Reply #55 on: May 19, 2014, 12:11:33 pm »
How do they know if your contents are a charred mess?

Changes are it will not be charred mess, but water and/or smoke damage. Your lab in in a modern building and there is not much in it to burn. Plus the equipment is available for all to see on the internet and insurance companies will investigate before parting with their money... 
What I am not too sure is how they will value some of the expensive kit you get for free  ::)
 

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Re: Lab Insurrance & Theft Prevention
« Reply #56 on: May 19, 2014, 12:43:09 pm »
For those interested:
http://www.nrma.com.au/sites/default/files/NRMA-Documents/nrma-business-business-policy.pdf
I suspect it's not worth anyone's time reading such things unless you need something quite specific, you either have insurance or you don't, and you takes'ya'chances either way. I doubt there is much difference between the policies of providers.
 

Offline Fank1

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Re: Lab Insurrance & Theft Prevention
« Reply #57 on: May 19, 2014, 11:22:57 pm »
I had the misfortune of having my house catch fire about 8 years ago.
State Farm had me a check for the entire loss in 2 weeks.
 

Offline dannyf

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Re: Lab Insurrance & Theft Prevention
« Reply #58 on: May 20, 2014, 12:12:52 am »
Quote
Lab Insurrance & Theft Prevention

Don't have a lab so it can never be stolen, :)
================================
https://dannyelectronics.wordpress.com/
 

Offline Rigby

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Re: Lab Insurrance & Theft Prevention
« Reply #59 on: May 20, 2014, 01:05:42 pm »
I had the misfortune of having my house catch fire about 8 years ago.
State Farm had me a check for the entire loss in 2 weeks.

I used to work for State Farm as a J2EE developer and development mentor.  I'm glad to hear you had a good experience.  We spent a hell of a lot of time creating tools for the agents so they can get you on your feet ASAP after a disaster.
 

Offline dr.diesel

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Re: Lab Insurrance & Theft Prevention
« Reply #60 on: May 20, 2014, 06:42:41 pm »
I used to work for State Farm as a J2EE developer and development mentor.  I'm glad to hear you had a good experience.

Statefarm customer for 15+ years, nothing but good to say myself.

Offline Sparks55

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Re: Lab Insurrance & Theft Prevention
« Reply #61 on: December 28, 2020, 04:26:28 am »
I had the misfortune of having my house catch fire about 8 years ago.
State Farm had me a check for the entire loss in 2 weeks.

Thats an awesome result, it's nice when things just simply work out
 


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