This is how one insurance agent insures his equipment. Most if not all of
these policies are written as "replacement cost policies" although the other
alternative "actual cash value" will be the same value as it applies to
equipment which is no longer made but available. A paper trail may help you
or it may not when it comes to claims time. I wouldn't want to give an
adjuster a $50 receipt for a lens that was going to cost me $200 to replace.
When I scheduled my equipment, I listed each piece, with serial number and
the amount it would cost to replace it. There are several sources for this
type of information. The obvious ones are ebay and this list. Having
photographs of your gear would be helpful if you have no receipts or other
documentation. When you schedule it, your agent should have seen it
(inspected the risk, in insurance terms). When an adjuster writes you a
check, they want to feel comfortable that they are paying you for the stuff
you lost. Photographs make the adjuster a little more comfortable. The
important thing to remember is these policies provide "all risk" coverage
world-wide. Yes, even things that should be excluded under a "dumb a#*"
exclusion. They are inexpensive policies and ones you will kick yourself for
not buying if you have a loss without a policy. Call your agent in the
morning. Bill Barber
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