[TowerTalk] Insurance

[Jim Jarvis]

David wrote:

I'm being sent  forms for "Inventory" of what was damaged, On this form I
have to provide the Cost of the items when new and the year, and also the
model and ser #'s.. ,Then this information is put through a Process of them
telling me what a "depreciated" value of the item is and how much I get for
replacement value. If Im lucky I think I might get enough "value" to go buy
a new CB radio!
-0-

I don't know your carrier or what your insurance contract provides for
replacement value, or depreciated value.  Sounds like the latter, although
the former is more common, in my experience.  It almost looks like they're
looking for a "depreciated replacement" value.

Texas Towers or HRO might be willing to quote a contemporary equivalent,
in writing. Make up a list of specifications, and run it by folks at both
places.
Include specialized filters, etc.  List everything.

Talk with them on the phone, first, though, so it doesn't take them by
surprise.  Faced with organized arms-length, third party quotations, your
carrier may be more cooperative.

You didn't have to indicate you bought the gear used...just that you
had it a while and no longer have purchase information.  Sounds like that
cat is out of the bag, though.

The other argument may occur over the depreciation schedule.  The insurance
company may try to force a 7 year writedown, based on IRS schedules.
However,
more useful would be recent used sales of ft990's comparably equipped.  You
might
be able to find that from eBay, or one of the ham trader sites.   In fact,
shopping
your full spec. list that way, and making use of new quotes for filters, if
required,
should be a persuasive argument.

Having both new and used market sales and quote data may cause them to look
at
this somewhat differently.

Good luck.

n2ea
jimjarvis at ieee.org