Hey,
I just wanted to tell you all that I just heard about another muskie fisherman who had all his rods, reels, and lures stolen out of his truck last week. Steve at Thorne Bros said his loss is approx $5,500. Not untypical..not covered by insurance. I have a rider on my home owners and boat policy to specifically cover my equipment for the value of it. I also have pictures taken every year of whatever my current stuff is and have kept all receipts to be able to prove the cost. Insurance adjusters do not believe your equipment costs what it does and unless you have the proper schedules you are S.O.L. A word to the wise!
I would have some questions about that. His truck insurance wouldn't cover it but his homeowner/tenant policy should cover it. Maybe he doesn't have homeowners or a tenant policy and was mad that his auto insurance didn't cover it. If this person happens to guide, the insurance company would be quick to decline equipment used for business purposes. Lots of unknowns that might make a major difference in this claim.
To follow up on Chuck's info – Double check with your insurance company before you ask to have items scheduled. There's no need to pay additional premium if the equipment is not excluded or limited. I've never see a policy that limits or excludes fishing equipment. Computers, jewelry, watches, furs and fine art are some of the normal things limited or excluded.
I would agree that because of the unique equipment we have and it would be smart to keep receipts.
I know a couple of people that frequent Hick's all of the time actually make a video tape of their stuff with the agent, sounds kind of corny I guess, but what the heck CYA.
I remember having my rods lost in route from MI to MN one year and I had to beg, buy, and borrow rods and reels for my whole trip on Lake of the Woods. What a joke that was, I wish I could have turned that into the insurance company.
When was the switch from the insurance companies servicing us, to us servicing them!!!
I don't know if Steve is a guide or not, but he did admit he didn't have "renters insurance" on his apartment. So, that was his major mistake. My understanding is your home owners policy or renters policy is the product for this type of coverage. As for Will's comment regarding no exclusion on fishing equipment, that is not what I seem to have found. My home owners insurer recommended scheduling any fishing equipment of high or unusual value on the policy. Maybe they were just accomadating me because of my concern. It's not detailed but simply categorized as "rods, reels, lures, tackle boxes, ect". Frankly, I don't know if I pay extra premium or not. After reading 2 articles (BASSMASTER) about B.A.S.S. pros not being able to collect when their stuff was stolen out of their boat and truck while at a motel the night before a tournament and two friends in Lansing settling for PENNIES ON THE DOLLAR for their stolen equipment value I would NOT just assume your friendly insurance company adjuster is going to fork over the REPLACEMENT value of your expensive equipment, especially if you have no documentation. There is NO DISADVANTAGE for you to look into this with your carrier. I'd rather be safe than sorry.
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