Path: utzoo!attcan!utgpu!jarvis.csri.toronto.edu!rutgers!cs.utexas.edu!tut.cis.ohio-state.edu!ucbvax!hplabs!hp-ses!hpcea!hpnmdla!waynec From: waynec@hpnmdla.HP.COM (Wayne Cannon) Newsgroups: comp.sys.ibm.pc Subject: Re: Computer Insurance Message-ID: <340008@hpnmdla.HP.COM> Date: 15 Jun 89 20:28:15 GMT References: Organization: HP Network Measurements Div, Santa Rosa, CA Lines: 43 Read your homeowners' policy for what it does NOT cover. My computer system was "covered" by my homeowners policy for about $15. Safeware wanted $125. After reading an extensive discussion about this topic on Compuserve's CONSULT forum, I started looking into it further. The homeowner's policy had a very low ceiling on what they would insure (about $5000, I believe) meaning that they would not write more than that, did not cover replacement cost (only depreciated value), did not cover any natural disasters (about the only thing they covered was theft and fire), did not cover any software at all, would not cover my equipment if it was used for any commercial purposes, would not cover it off premises, and every item had to be specifically itemized with the company prior to the loss. Before you say that I had a braindead policy, the experience of those on Compuserve who checked their policies was essentially the same. Homeowners' Policies simply do not offer realistic coverage for computers. There were only three companies that people found that provided realistic computer coverage, and Safeware was one. Safeware covers ALL losses (including brownouts and voltage spikes), all commercial software (must have a verifiable price), provides blanket coverage (verify it at the time of the loss) to allow for the dynamics of system configuration and software purchases, covers the computer anywhere except in an unattended vehicle (then, if evidence of forced entry exists), covers replacement cost, and equipment used for commercial purposes. They do insist on having the face value of the policy cover ALL computer equipment and software that you own (I had to add for an old computer until I am able to sell or dispose of it) and you have to keep your receipts in a safe place (Isn't that what you are doing when you place a copy with your agent?) in order to have proof of ownership if you need it. Their rate was less than for an equivalent amount of (fully covered) jewelry from my homeowner's policy. After checking with one other local homeowner-tyep company, I didn't hesitate to switch to Safeware. I would feel the same about any other company with as clean and comprehensive a policy for the same rate. Wayne