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Insurance for CRT

Discussion in 'Projectors, Screens & Video Processors' started by NickBull, May 3, 2002.

  1. NickBull

    NickBull
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    A friend made a good point about insurance.

    If you get a bargain and it gets damaged in a flood, the replacement may cost a lot more than the original. What is the best way to insure this type of equipment?

    Maybe a valuation from a proffesional that can be added to your insurance policy?

    What do other people do?

    Nick
     
  2. derekduvalle

    derekduvalle
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    My Sony projector is specified as an item on my house insurance and is fully covered, accidental damage, new for old etc.
    The only thing not covered is the lamp.
    My insurance company did not charge me extra for covering the projector.
     
  3. jlcrawford

    jlcrawford
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    Who does your house insurance-when I advised my insurer of my BG808s the girl got so confused I gave up?
     
  4. Nick Beecham

    Nick Beecham
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    I'm insured with Abbey National. They told me that home cinema systems do not count as high risk items (unlike jewellery) so it is covered automatically without limit.
     
  5. nfordenfield

    nfordenfield
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    There should be no need to specify any of the equipment, unless you intend to take it out of the house.

    Most household policies today work on a New for Old basis, this means that if you insure your contents for the value it would cost you to repalce with new, then if you need to claim, there will not be any under insurance. (See below)

    Example, If you buy a second hand amp for £500, but to replace it with the current model would cost you £1000, you need to insure it for £1000 and pay the premium accordingly. Otherwise due to what is called average clause, you would the % of under insurance applied to the loss. i.e. you would only get £250.

    Be warned, if you get a visit from a Loss Adjuster (usual if the damage is over £1500 ish, but varies from Insurer to Insurer), they will walk around you whole house checking that all requirements, security devices are in force (window locks, etc). You get interviewed, occupation checked etc. If anything is not as you have Declared it to be (the proposal form you signed) they may have ground to invalidate the contract and you have no claim.

    When we got done over, they even measured the house to check the Building Sum insured, on the sq ft average cost.

    Rgds

    Nathan
     
  6. CogPaul

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    I wonder if this is the case for CRT's. Most of us are using units we bought at a much reduced price. Remember some of these units originally cost £15-20,000 when new and I cannot help but wonder what the insurance company would say if you asked them for the money to purchase a new G90 to replace your beloved Barco/Sony or NEC..... and I for one would be less than delighted to see my Nec 9PG replaced with an Ellie!!!!!
     
  7. simon69

    simon69
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    I have just contacted direct line about the cost of insurance, it seems that it puts the contents bill up by £90-100 a year. However, this is new for old!!! Always insure your loved ones.
     
  8. Andy F

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    I recently switched insurance policies, I was with the Royal, but went thru the AA of all people. I was asked about items of value, and when I said I had a projector bolted to the ceiling they said that was ok and covered under the standard policy. I think it's things like jewelery and camcorders that you need to be more wary of.

    Andy
     
  9. stevenwilliams

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    My insurance policy states that all items worth over £1500 must be declared.

    I declared my barco stating the price I paid and the cost of a new equivalent and they added £15PA to the cost of the policy.. (I'm with LLoydsTSB contents only)

    £15 to cover it seemed cheap to me..
     
  10. mjwhitehouse

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    I asked the question of DirectLine when I took house insurance and they stated that as far as they were concerned a projector fixed to the ceiling was part of the house structure and so did not have to be declared as a single item. It was therefore fully insured regardless of the value.
     
  11. NickBull

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    Think I will check with my insurers to be on the safe side.
     
  12. simon69

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    I have just spoken to Barclaycard Direct.

    The resure to insure projectors as part of contents insurance or any other insurance packages as they are too high risk"

    !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
     
  13. JMPremier

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    I've just come across this thread as I have just had a bit of bad news.
    I have just made a claim on a pj that I paid about £800 for a couple of years ago.
    Initially when I put the claim in the insurance said it was fine that it wasnt declared as an high value item, but a single item limit of £2k applied (I wasnt bothered as £2k would still get me a better one than I had), they agreed to pay me as the pj was beyond economic repair. I found a replacement (from here) for £2500 so I was quite happy paying the extra £500 for a far superior pj than the damaged one.
    They ended up sending a loss adjuster out yesterday and he saw my BV700 that is faulty in my garage (not the pj that I have claimed against). He decided that I am 40% under insured.
    The long shot of all of this is that they are only paying me £320 for my loss now.

    So a word of advice.
    Check that you are 'fully' insured.
    Check that the full 'new' price of anything you have is accounted for.
    Make sure the single item price isnt too small.
    Better still try to get a seprate policy for your pj.

    John
     
  14. Alaric

    Alaric
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    A few years back i had a claim for a few things and they sent a loss adjuster round, he quickly found that we were telling the truth etc, as i had recipts and boxes for most things. While showing him round the flat, he saw the BG800 i had, and was most curious, i explained that it wasn't insured as i didn't know how to and what value it was anyway....I said i'd paid £600 for it, but that it would be stupid to insure it for £30,000 as that was its origional price, he agreed and said that the insurance company wouldn't understand anyway, and said he'd ignore it....this was about 6-7 years back and home cinema was in its infancy.

    When we moved, i made sure that the policy we had catered for silly items like PJs that are not really a new for old item.
     

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