Author Topic: Insurance for Gear (Read 427 times)

Kalvin Kaloz · « **on:** July 13, 2011, 11:32:12 PM »

2 recent events have me thinking....

At the mini comp on spring this weekend I made a comment to a teammate that I had more money in rods in my trunk than my car is worth. The comment was in jest but thinking about it, it is actually true. The other is the experience that Loren is going through. Without getting in to particulars the airlines have a "cap" at which they will reimburse for lost or stolen items and let’s just say it won’t cover any competitive anglers total cost to replace the gear.

When you think about it most anglers going out for the weekend or even a day does not travel with the amount of gear that a comp angler does. When you add it all up it can be quite stunning…in just extra tippet 2x-7x, 2 of each in 110yd spools at 39.95 per; you are looking at over 550.00! My point is it ALL adds up, and quick!!!

Anyone ever give this any thought or possibly have insurance on there gear? I know several photographers have insurance as well as many collectors.

Thoughts?

Jeremiah Hamilton · « **Reply #1 on:** July 14, 2011, 06:55:22 AM »

I was on the phone with Arron and was talking about what Loren is going through and first thing he said was I don't have to worry about that I have all my gear Insured but it would be hard to tie all the flies I am taking to the Worlds. When he said that I realize wow I never even thought about that, so yesterday morning I made a call to my company insurer and told them that we have moved in to fly fishing production ie: commercials and shows, I told them we have to travel with very expensive fishing gear, well the Lady said that is fine and she ask for a ball park number told her $8000 so it would be $15 more on my already existing plan and just end over the serials of the larger items.

Seth Gerring · « **Reply #2 on:** July 14, 2011, 11:53:53 AM »

In most states you can purchase a personal articles policy (PAP). A PAP is a all perils policy. That means anything that happens to the items on the policy will be covered. Most of the time I write these polices with a $0 deductible.

This policy works great for fly rods, reels and other larger gear. As for covering tippet, leaders, flies or the smaller things I'm not sure how that could be listed. I will findout more on that.

In NC $8000 in coverage would be around $130/yr. By the way I sell insurance.

Seth

Bob Lux · « **Reply #3 on:** July 14, 2011, 12:30:06 PM »

I ran into something similar when I fished bass tournament trails. I had so much invested in tackle, rods, depth finders, etc, that the boat insurance did not cover anywhere near the amount of value. I contacted my home owners insurance and was able to get extra insurance on what the boat insurance wouldn't cover. Now all that stuff sits in the basement and gathers dust. I would assume that homeowners insurance could do the same for comp fly fishing, but that is definitely something to look into.

Jeremiah Hamilton · « **Reply #4 on:** July 14, 2011, 01:32:58 PM »

Quote from: Seth Gerring on July 14, 2011, 11:53:53 AM

In NC $8000 in coverage would be around $130/yr. By the way I sell insurance.

Seth

Seth that is spot on, you guys are a bit cheaper in the US, but I for got to say it is $15 more a month so that comes out to $180yr CAN, I could shop around but heck its a business expence. Really guys that is just a drop in the bucket when you come to think what it would cost to replace, so its one less drunken outting a year.

Seth Gerring · « **Reply #5 on:** July 14, 2011, 02:56:11 PM »

Quote from: Bob Lux on July 14, 2011, 12:30:06 PM

I ran into something similar when I fished bass tournament trails. I had so much invested in tackle, rods, depth finders, etc, that the boat insurance did not cover anywhere near the amount of value. I contacted my home owners insurance and was able to get extra insurance on what the boat insurance wouldn't cover. Now all that stuff sits in the basement and gathers dust. I would assume that homeowners insurance could do the same for comp fly fishing, but that is definitely something to look into.

The homeowners may cover it in some situations, but not all. Also with a homeowners claim you usually have a larger deductible $500-$5000 or a percentage of the dwelling amount.

Seth

Paul Bourcq · « **Reply #6 on:** July 16, 2011, 09:36:25 PM »

So you'll write me a policy seth? Ill pay that

Seth Gerring · « **Reply #7 on:** July 16, 2011, 10:07:15 PM »

Quote from: Paul Bourcq on July 16, 2011, 09:36:25 PM

So you'll write me a policy seth? Ill pay that

Sure will. Like a good neighbor State Farm is there

.

Seth

Loren Williams · « **Reply #8 on:** July 16, 2011, 10:51:41 PM »

My HO insurance provider cannot (or will not) do anything until United comes to terms with some type of settlement. I'm feeling like this is going to be a nightmare.