Insurance for AP Mounts


psparkman@...
 

Hi everyone,

I have a non-technical question.  I have an AP1100, and and AP1600 mount.  We know what these mounts are worth.  My home owners policy only covers non-scheduled items up to $5000k, which is much less than these mounts are worth.  What does everyone do for insurance on these higher value items?


ap@CaptivePhotons.com
 

My home-owners does not have a limit for non-scheduled items, but it is only going to cover things like theft and fire. Having it destroyed by a roaming grizzly bear at night... maybe. Having it destroyed because I left it outside with the sprinklers on, definitely not (ok, so that might not destroy it, but you get the idea - a mea culpa of some sort). 

Your insurer will happily add it on a rider, I suspect, but like expensive camera gear (which I've thought about for years), getting it insured for the most likely things that will cause a loss (in my case user error of some sort) is hard, or expensive, or both.  So I just self-insure.

So I'm curious if people have better solutions.


Dale Ghent
 

You can declare your astronomy gear on a rider that will usually cover loss and theft. However it won’t protect the gear if you’re sued and “they” come for your assets, which is what “Umbrella insurance” will cover. As always, talk with your agent about which options work best for your situation. 

On Dec 29, 2021, at 18:59, psparkman via groups.io <psparkman@...> wrote:

Hi everyone,

I have a non-technical question.  I have an AP1100, and and AP1600 mount.  We know what these mounts are worth.  My home owners policy only covers non-scheduled items up to $5000k, which is much less than these mounts are worth.  What does everyone do for insurance on these higher value items?


Pete Mumbower
 

I put my AP1100 (and everything in my observatory) on a separate rider that costs roughly $600/yr (State Farm). Just needed to itemize and declare the paid value for it all, took a bit of time to do and was an eye opener on how much I have spent over the last couple decades!


Dale Ghent
 


Oh, and the usual insurance games such as loss coverage not applying because of specific causes like flooding (either natural or from things like a backed-up sewer/septic) and such will be part of the game.

The case of floods causes by a public sewer backup can get interesting depending on where you live. Sometimes your sewer authority will cover cleanup and deprecated value of what was lost, but if you take that payout, you can’t also file an insurance claim on the list items, and vice versa. It’s literally a shitty situation to be in because you’ve got a basement full of actual crap and you have to make a sort of snap decision on who will give you the better payout so you can begin rebuilding. 

On Dec 29, 2021, at 19:35, Dale Ghent <daleg@...> wrote:


You can declare your astronomy gear on a rider that will usually cover loss and theft. However it won’t protect the gear if you’re sued and “they” come for your assets, which is what “Umbrella insurance” will cover. As always, talk with your agent about which options work best for your situation. 

On Dec 29, 2021, at 18:59, psparkman via groups.io <psparkman@...> wrote:

Hi everyone,

I have a non-technical question.  I have an AP1100, and and AP1600 mount.  We know what these mounts are worth.  My home owners policy only covers non-scheduled items up to $5000k, which is much less than these mounts are worth.  What does everyone do for insurance on these higher value items?


Mike Dodd
 

On 12/29/2021 7:44 PM, Dale Ghent wrote:
Oh, and the usual insurance games such as loss coverage not applying because of specific causes like flooding (either natural or from things like a backed-up sewer/septic) and such will be part of the game.
For my amateur radio hobby, I pay $108 for an insurance policy that covers all my ham gear, about $7,800 worth, for one year. The premium rate of $1.40/$100 has not changed for three years. The policy covers equipment (per the website) "...on a replacement cost basis. Coverage is all risk with few exclusions."

These policies are offered to members of the American Radio Relay League (ARRL), and underwritten by Risk Strategies Company in Chicago.

I wonder if any amateur astronomy association has or might be willing to offer similar policies.

--- Mike


Scott Cooke
 

I have a rider on my homeowners policy of what's known as personal inland marine floater policy.  It covers all my listed gear at $1.60/$100.  It covers breakage, theft, damage from water, basically all losses including something called mysterious disappearance which means it's covered even if I just lose it.  I had to photograph everything to verify ownership and document value either through retail prices or used ads for items no longer available new.  They will cover each item for the amount documented.
Thanks,
Scott

On Wed, Dec 29, 2021 at 8:21 PM Mike Dodd <mike@...> wrote:
On 12/29/2021 7:44 PM, Dale Ghent wrote:
>
> Oh, and the usual insurance games such as loss coverage not applying
> because of specific causes like flooding (either natural or from things
> like a backed-up sewer/septic) and such will be part of the game.

For my amateur radio hobby, I pay $108 for an insurance policy that
covers all my ham gear, about $7,800 worth, for one year. The premium
rate of $1.40/$100 has not changed for three years. The policy covers
equipment (per the website) "...on a replacement cost basis. Coverage is
all risk with few exclusions."

These policies are offered to members of the American Radio Relay League
(ARRL), and underwritten by Risk Strategies Company in Chicago.

I wonder if any amateur astronomy association has or might be willing to
offer similar policies.

--- Mike






Eric Claeys
 

When I built my observatory in the mountains of NM surrounded by a nation forest, the insurance company wanted me to separately list the items that cost more than $5000 each.  Everything else was lumped into the total cost of the observatory and gear.  They wanted serial numbers, models, etc., so I built a spreadsheet that contains everything in the observatory, including the broom.  Somewhat anal, but if a fire destroys the whole thing I'll have "proof" of what was in it, and will know what to buy again.  I also took pictures of the major items and then some wider angle pictures showing most other things.

I think I was the first one to insure just an observatory (the other insurance companies would only insure an observatory if there was also a house on the lot, which I don't have).  My insurance company actually sent someone out to see how much of a fire hazard it was (i.e., how close were the trees), and required that I put a fire extinguisher inside next to the door (not that it would stop a forest fire...).


Peter Bresler
 
Edited

I have gotten insurance for all my astronomy equipment with a specialized policy here: (Why does this not allow hot links?)

finestring@totaldollar .com


M Hambrick
 

A replacement cost insurance policy for your astronomical equipment makes sense, and most insurance companies will gladly let you inflate the value of the articles being insured because it lets them charge higher premiums. The problem is that if something were to happen to your Astro-Physics equipment and you had to file a claim, the chances of actually being able to replace any of the equipment would be pretty slim. Although the older, larger A-P scopes (e.g., 180 EDT) are very valuable, they can never be replaced. Equipment that is still in production (mounts and the smaller scopes) can still be had, but the waitlist for these items is so long that it is unrealistic to think that they could be replaced either.

The moral: Take good care of your A-P gear.

Mike