Insuring your Equipment

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Don't rely on your homeowner's policy to fully insure your astronomical equipment. Policies may vary slightly from company to company and/or state to state but the average homeowner's policy (H.O. Policy) will not fully cover your equipment. Talk to your insurance agent or company representative about a policy variously labeled as a "Personal Articles Floater" or "Personal Items Policy" or similar sounding. With these policies you specifically schedule each piece of equipment you want covered. Coverage is generally broader than under your H.O. Policy Often, there is no depreciation in the event of a loss. There may or may not be a deductible. The important thing is to be sure you have a full value clause so that you are paid the FULL scheduled amount in the event of a total loss. Also, ask your agent about accidental breakage as well. It is all too easy to drop a telescope in the wee hours of the morning. Take pictures of your equipment and give a copy of the print to your insurance agent for their file. Be sure to update your policy any time you buy or sell a major piece of equipment. These policies are usually relatively inexpensive. Speaking of major pieces of equipment, you should insure only the big, expensive pieces. What is considered expensive is up to you. It is probably not worth it to insure a $20 filter, but that $500 dobsonian may warrant a policy. Talk to your insurance agent and get proper protection in the event of a loss.