Camera Insurance

[treeman]

Following on from this thread http://www.talkphotography.co.uk/forums/showthread.php?p=3803826#post3803826

I'm wondering if any insurers payout in cash as opposed to kit, and if any have a realistic limit for hiring in kit whilst the claim is being assessed?

It seems crazy to me that I've got to wait for an undetermined amount of time whilst the claim is sorted, and be one body down.
If they paid out in cash I could buy another body now, and be recompensed when it's sorted, makes more sense to me.

 

[Nikon Ken]

Following on from this thread http://www.talkphotography.co.uk/forums/showthread.php?p=3803826#post3803826

I'm wondering if any insurers payout in cash as opposed to kit, and if any have a realistic limit for hiring in kit whilst the claim is being assessed?

It seems crazy to me that I've got to wait for an undetermined amount of time whilst the claim is sorted, and be one body down.
If they paid out in cash I could buy another body now, and be recompensed when it's sorted, makes more sense to me.

Mark, I can't answer your question directly as I'm out of touch with the market place. Retired from a lifetime in insurance 10 years ago.

However, I can give some valid reasons why.

There have been too many claims for goods that people just did not have, hence the demand for receipts, boxes etc. People were putting in fraudulent claims and taking the money. Nowadays the Fraud database stops multiple claims.

Historically most claims were paid as a cash settlement even though policies gave the option of cash or replacement. Claimants were claiming the full retail price and then buying at a discount. Over the years most insurers have developed a supply network where they benefit from the discount.

At the end of the day a reputable insurance company will deal with you fairly but many of the frustrations that policyholders experience are due to a minority of policyholders who have sought to gain more than their entitlement from insurance companies. I have heard many people over the years justify their action by saying that it's only an insurance company, they're fair game.

Getting back to your need. Have you spoken to your insurers and explained your situation. They may offer a cash settlement. No harm in trying.

Ken

 

[treeman]

Getting back to your need. Have you spoken to your insurers and explained your situation. They may offer a cash settlement. No harm in trying.

Ken

Thanks Ken, I can fully understand their approach. I think your suggestion is probably my best bet. However I do know they use one particular supplier, and probably get it at trade plus a little bit, in return for the constant business. So I think it unlikely they'll offer me cash.
I'll certainly try though