Insurance - the fine print.

[etherial]

Well I'm again looking at insurance, specifically because if I make any money from my hobby, it seems that my cover on my H&C policy may not cover me (yet to be confirmed but in any case it would be a risk).

So I was just reading the policy of a widely recommended company and was surprised to find what I did. Source PPIB http://www.photoinsurance.com.au/doc...t%20Policy.pdf

EXCLUSIONS
This policy does not cover loss, damage, liability or expense directly or indirectly caused by or contributed to by or arising from:
1. Flood;
2. Rainwater run-off over the surface of the land, unless caused by water escaping from any pipe, water or drainage system destroyed or damaged by a storm or caused by blockage, failure or inadequacy of any stormwater drain or street gutter;
3. Actions of the sea, tidal wave, sea spray or high water;
4. Water damage to Equipment or any other item insured by this policy, resulting from exposure to the open air outside the limits specified by the manufacturer of the Equipment or item;
5. Theft or misappropriation of Equipment or any other item insured by this policy by hirers or employees;
6. Theft without forcible and violent entry to a securely locked premises or motor vehicle;
7. .....snip

Now point 4 seems to me that for most dSLR gear they could reject just about ANY water damage claim if you're outside. That is a big one for me shooting outdoor events!

Point 6 I also find very interesting. I'm often out and about and it seems that a snatch and run type theft, of if my gear goes walkabout while I'm busy shooting at an event wouldn't be covered. I note that I think this is the same company that many had mentioned not covering gear taken from a car in the early hours of the morning (that seems to have disappeared from the policy).

Interested to know what others thoughts are on these policy exclusions, and their thoughts on other providers.

[ameerat42]

Well, it certainly covers how you DON'T or DON'T use your camera!
Looks like the emphasis is on "DON'T" use it.

I don't know your circumstances, but how important is theft with forced entry to you?

Am.

[etherial]

Am, it is certainly a deal breaker for me! I'm frequently out shooting outdoor events where I can't lock away my equipment, or have to leave it in rooms where multiple people have access. Of course this comes with risk so I can understand why an insurance company would try and avoid covering it. I just wonder how many people have this policy and don't realise that so many loss or theft situations won't be covered.

[I @ M]

Even more off putting is the section in that disclosure statement where the standard excess is $250.00 and then an additional $250.00 excess is applied for any theft from a motor vehicle.

I think that that policy insures the underwriters rather than the customer.

They definitely do not have my business and probably never will.

[Ezookiel]

One of my house policies once had a clause not covering any UN-forced entry, which made me wonder what happens in a home invasion or burglary where you were all home, and they walk in an unlocked front door, which happened to us once before. My wife was in changing the baby and heard the sliding door open, and thinking it was guests due at any moment, yelled out that she'll be out in a sec. A few minutes later I came home, and when she came out, she asked where the guests were, as she'd heard them arrive. It was then she realised all the shopping bags of the chips and cheezels and nibblies for the night, were gone from the table.
We all thought it funny when the guest did arrive, and we all put it down to the neighbour's teenage kids, who had been caught in the yard on many occasions and always had some excuse such as needing to borrow some panadol for their Mum etc.
We were a little less amused when we realised the next day that the handbag with the car and house keys had also been taken, and we hadn't noticed.

If they'd taken more than some chips and cheezels, or made use of the keys they didn't even seem to realise they had (the handbag was found in a nearby street with everything except the purse still in place) or if it had become a full home invasion, we wouldn't have been covered by that policy in theory, based on the forced entry clause.

[Kenny A]

Insurance...you get what you pay for.
Most people purchase insurance based on price.
If coverage is your main concern then cross check the coverage first and then compare pricing.
Most major domestic insurers offer a number of policies within their range...bare bones, listed events, accidential damge... and they all have varied pricing.

Home work is required on this subject...

[bobc163]

Hi all
trying to sort insurance for trip next May (Istanbul to Beijing for 4 months)
any suggestions

[Mark L]

Insurance...you get what you pay for.
Most people purchase insurance based on price.
If coverage is your main concern then cross check the coverage first and then compare pricing.
Most major domestic insurers offer a number of policies within their range...bare bones, listed events, accidential damge... and they all have varied pricing.

Home work is required on this subject...

So what are the good policies your home work has turned up?

[jim]

I think that that policy insures the underwriters rather than the customer.

In a nutshell. And pretty much SOP for insurers generally I'm afraid.

[Bear Dale]

One of my house policies once had a clause not covering any UN-forced entry

Your not covered if the United Nations kicks your door in

[Ezookiel]

One of my house policies once had a clause not covering any UN-forced entry...

You're not covered if the United Nations kicks your door in

No, they normally knock politely. It is the UN afterall - toothless and powerless - so forced entries just wouldn't really be their thing

[pmack]

If unforced theft of your gear was included, then everyone with the polices would be comfortable taking zero precautions with the safety of their gear. Insurance shouldn't take away our common sense and basic duties. It just wouldn't work.
I have this policy and am well aware of this. I'm backpacking through asia and europe for over a year and always lock it up when i'm not with it, and keep it close to me when i do have it so that if someone takes it, it is a forced robbery.
Not too sure on the specifics if it's near your feet and is taken away with you noticing, and without you noticing. Just ask the insurer in an email, I've asked them a lot of things and they are always quite good with the clarifications, usually when it is ambiguous, they have replied to me with the side that works for you. But that may only be because you asked them, and that if you didn't ask them a certain clarification, then they could use the wording of the policy against you if you need to make a claim.