Doug's statement that you need to discuss this with your agent openly
is true.
>From a USA viewpoint of the standard ISO insurance forms that are not
etched in granite for all states but are in general use.
A standard Homeowners form HO3 will allow coverage of personal
property up to $1,000 only for electronic apparatus used in business
and still owned by you. The dangers here are many. If your business
is a corporation you may not own this equipment. Also this $1,000 is
limited to actual cash value (used value)and not replacement cost.
Also what is insured against are only specific causes of loss (named
perils) and possibly subject to a separate higher theft deductible.
A standard form Scheduled Personal Property Endosement intended to
give you replacement cost on an All Risk basis (commonly used for
Camera equipment) is not the proper form for electronic apparatus.
and so:
If you are a business your electronic recording equipment is most
easily insured under the business. I have $5,000 automatic all risk
coverage attached to my Liability and Medical Payments policy that
can be used for both Computer and Recording Equipment.
In that there sometimes is a gray line between recording equipment
and computer equipment make sure you address the issue and decide up
front if you need software as well as hardware coverage. Computers
are considered separately from electronic recording equipment.
Even though you purchase All Risk coverage that would cover breakage
if droped that may or may not give you coverage if you were to drop
your recorder over the side of a boat. Also the wording of how
Mysterious Disappearance is treated compared to Theft is important.
Inland Marine coverage forms can be highly variable but the intent is
for it not to be a repair and maintainence policy.
As an additional thing you should be aware of: There is an often
overlooked coverage on Homeowners and tenant policies under Section
II - Additional Coverages that provides $500.00 coverage at
replacement cost for property damage to property of others caused by
an insured. This is without the limitation of a deductible and
without having to prove negligence or a wrongful act.
Good Luck
Rich Peet
--- In Doug Von Gausig <>
wrote:
> At 07:07 AM 2/20/2003, you wrote:
> >Thanks Doug. Do these floaters cover equipment used for my
business,
> >which lives my apartment?
>
> That's between you and your agent - if they are aware that the
equipment is
> for business use, you're OK - I'd be sure they know, though, as
after a
> loss is no time for them to find out new facts about what they're
covering.
>
> Doug
> Doug Von Gausig
> Clarkdale, Arizona, USA
> Moderator
> Nature Recordists e-mail group
> http://groups.yahoo.com/group/naturerecordists
>
>
>
> [Non-text portions of this message have been removed]
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