My question relates to what to insure. I have a few high end pieces of gear (Dini level, S6, R10, V10, R8's), but I also have some older stuff (4700, 5700, Zeiss S10 which isn't being used). Actually, the R8's are getting old, but one was rebuilt recently and they both work fine. The only really new stuff is the V10 and the R10.
What is your cutoff for when you no longer insure a piece of equipment? I also have a GX scanner, still works, still use it, but it is no longer supported by Trimble, and of course there are much better models available now.
I need to prepare an updated list and send to my insurer, but I need to decide what to put on it. The 5700, for example, is about 12 years old, but still works, somewhat. Sometimes it won't log data, and I have to fiddle with the memory card, take it out, insert it, etc. But I doubt it could be fixed. And i can probably get another 4700 for under $1000 if I wanted to.
John,
I have a blanket coverage policy for my equipment that has a limit on the total amount for my equipment. It is helpful because my robot and rtk base/rover are 2002 era, but still work flawlessly.
I need to do a detailed inventory and make sure the blanket policy is enough to cover everything if the truck was stolen.
Most of the time you can get it insured for replacement cost. So look around at the used market (Hayes, APE, etc) and see what comparable equipment would cost you. Then decide how much premium you want to pay. But before you do any of that, check your office & auto polices - you may already be covered. And talk to your agent.
I just renewed my policy with a new carrier, and for the first time in 21 years they wanted an inventory. I compiled a list of all my gear - I have a lot of legacy equipment - and the replacement values added up fast. My agent suggested setting a dollar value on the most I'm likely to ever have in the truck at one time, and he used that number (with a buffer) to rate the policy.
> I just renewed my policy with a new carrier, and for the first time in 21 years they wanted an inventory. I compiled a list of all my gear - I have a lot of legacy equipment - and the replacement values added up fast. My agent suggested setting a dollar value on the most I'm likely to ever have in the truck at one time, and he used that number (with a buffer) to rate the policy.
Okay, this blows my image of you loading up your truck every day with twenty different receivers (and antennas) that various eBay vendors have shipped you for an average price of $200 per each over the years. That would be, like, over four grand in equipment, right? Naturally, the replacement values would total over two million or something like that. I wouldn't simply agree to whatever value your insurance agent put on it. I mean, if you bought the Mona Lisa on eBay for $45.00 + shipping, that doesn't necessarily mean that's all it's worth, right?.
So, now you indicate that you only take just a few pieces of that virtual Surveying Museum full of gear with you? I assume you're already concerned about saving weight, likely only filling up the gas tank halfway, and I know that twenty GPS receivers probably weigh more than I think, but isn't there some way to take all twenty with you?
Thanks for the insight. Yes, my agent is asking for a list, but I am inclined to only put on items with high value, say over $3000 or so. I am going to be buying a new scanner soon, I will of course put that on. But in reality I don't have a lot of stuff that is both valuable AND vulnerable. My risks are pretty low, I do put out GPS bases but I typically use the older models for that and I am pretty careful nowadays after two incidents. I don't want to give away secrets, but they can be hidden from view pretty well.
Some items I have never leave my property. Of course there is the risk of fire.
And, I don't leave anything in the truck at night, especially when traveling and staying at hotels. I have had two claims over the years...a 4700 was stolen, but that was my own fault, I left it pretty exposed when I set it up. Now I am much more careful. The other claim was for a Dini level that was smashed in a door. Another 4700 was stolen but I got it back pretty quickly.
> > I just renewed my policy with a new carrier, and for the first time in 21 years they wanted an inventory. I compiled a list of all my gear - I have a lot of legacy equipment - and the replacement values added up fast. My agent suggested setting a dollar value on the most I'm likely to ever have in the truck at one time, and he used that number (with a buffer) to rate the policy.
>
> Okay, this blows my image of you loading up your truck every day with twenty different receivers (and antennas) that various eBay vendors have shipped you for an average price of $200 per each over the years. That would be, like, over four grand in equipment, right? Naturally, the replacement values would total over two million or something like that. I wouldn't simply agree to whatever value your insurance agent put on it. I mean, if you bought the Mona Lisa on eBay for $45.00 + shipping, that doesn't necessarily mean that's all it's worth, right?.
>
> So, now you indicate that you only take just a few pieces of that virtual Surveying Museum full of gear with you? I assume you're already concerned about saving weight, likely only filling up the gas tank halfway, and I know that twenty GPS receivers probably weigh more than I think, but isn't there some way to take all twenty with you?
That was a good one 🙂
