Buying additional protection plan

Started 2 months ago | Discussions thread
Michael Firstlight Veteran Member • Posts: 4,438
Re: PPA
1

BISCUT wrote:

Toxdox42 wrote:

Check with your insurance company. I have USAA and pay a little extra for full replacement price! They cover an equivalent level if not repairable. I hate to jinx myself, but I haven't had to use it on any camera equipment, but have on jewelry lost by my wife, and once my daughter refilled the boiler with water and forgot to turn off the water, resulting in a lot of damage in the house from waterfalls out of radiators. They even said they cover even for stupid mistakes.

I agree with you. If it werent for the rate of depreciation, PPA would be a solid resource for insurance on top of their other benefits. For me, home insurance is the least expensive and best option for a claim on high end camera equipment.

If you go with homeowners insurance, read the exclusions carefully. Most homeowner's policies only cover you when the loss occurs on your own property. Also, consider that making a claim has to 1) meet the deductable, and 2) consider the (unwritten) consequences of making claims - even small ones, on your homeowner's policy. Claims often result in higher subsequent premiums - far outweighing the benefit.  A dedicated (separate policy is typically more prudent.

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