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Ham Radio Insurance

Discussion in 'Ham Radio Discussions' started by KE8EAS, Apr 11, 2017.

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  1. KB9LXP

    KB9LXP Ham Member QRZ Page

    Had a Lighting strike. Blew a hole in the wall by the phone jack. Took out all of the electronics in my house, including my 10 m rig that wasn't hooked to the antenna Insurance gave me a check for the full amount of my estimated value.
     
    WB0MPB likes this.
  2. KB7QPS

    KB7QPS Ham Member QRZ Page

    I'm not a fan of insurance and have never had the ARRL Insurance.

    However, I will be doing a portable station for the 7QP. I'll be dragging my equipment in the back of my Ford Explorer and staying in several motels/hotels. Thinking that buying the ARRL insurance may just indeed help me sleep better at night at low cost....

    Tempting!
     
  3. W3MMM

    W3MMM Ham Member QRZ Page

    Ha! I agree with you and I generally try not to make that mistake.

    The reality: I've spent relatively little. I suppose I've invested much less ($0).

    I'd note however, that the dictionary doesn't limit the use of the word as narrowly as you seem to (you seem to limit "investment" to financial instruments?)

    Investment: noun
    the action or process of investing money for profit or material result.
    "a debate over private investment in road-building"

    When most of us spend money on ham radio equipment, we're doing so with the hope of "material result" - like a better signal, easier operating, whatever. This can fit the definition of investment.

    Question for you Burt - if you bought shares in a mutual fund, purely for "investment". Years later you sell the shares and it lost 50% of its value. Was that an "investment" in your eyes? It lost money - the opposite of the intention.

    Question #2: You buy an unbuilt/unopened Heathkit transceiver back in the 70s. It sits in your garage for many years, taunting you for not building it. On a whim, you look into selling only to discover it has appreciated in value greatly, much more that mere inflation rates. If you sell, you've 'made money' by any measure. Was that an investment even if it never was intended to be? It turned a profit after all...
     
  4. K1OIK

    K1OIK XML Subscriber QRZ Page

    Both questions relate to intent. Question one was an investment that didn't workout, question two was a purchase that turned out well.
    I bought Berkshire Hathaway and made $45000 and bought other stocks that lost although in the low thousands, all are investments
     
  5. W3MMM

    W3MMM Ham Member QRZ Page

    Hmmm...so then buying art is either an investment or a purchase, based solely on the intent of the buyer?

    Or is it the seller? and can this be determined at the time of purchase or do we need time to be able to tell? Or can art ever be an investment?

    Can a county invest in new roads, or can they only purchase new roads? Can a baker only buy a new oven or can they invest in one? Is my second house a purchase when I'm in it, but an investment when others pay to stay there?
     
  6. K1OIK

    K1OIK XML Subscriber QRZ Page

    If the price is expected to increase above inflation art, gold, silver, copper, diamonds, add to that if you buy something to make money it too is an investment. Ham gear is not an investment.
     
    OH2FFY likes this.
  7. WJ4U

    WJ4U Subscriber QRZ Page

    Most ham gear, like most automobiles, is a consumer purchase and not an investment. Of course there are outliers. I know a guy who bought a "pace car" and had it preserved for many years to eventually sell for a profit. I suppose there were a few who similarly traded on the Heathkit market.

    For the rest of us, it's a rapidly depreciating market and, I surmise, not really worth the "investment" in insurance. Excepting there are laws requiring liability insurance for cars. That's government and not market forces at work.
     
    K1OIK likes this.
  8. OH2FFY

    OH2FFY Ham Member QRZ Page

    Exactly.
    I have a Drake Receiver here , in top condition.
    Current resale price is around 600 dollars , and some would say , WOW ,, thats an incredible lot for an old rig.

    However if I had of bought that new in the late 60's when it came out I would have had to have payed the equivalent of thousands to buy it.

    I only got it because in my local market here it went on an auction site last year , at no reserve , and a low price , no one noticed it , so I snapped it up.

    But if it was bought new and packed away hoping for an investment payout with profit one day ,, it would never happen........



    Waiting for Ham Radio to be an investment.

    86f3dfd064facd90b1eeda0cbdeceb12.jpg


    gregW:) OH2FFY
     
    K1OIK likes this.
  9. WA9SVD

    WA9SVD Ham Member QRZ Page

    Every state and every company have different policies, and "policies," With ARRL insurance, YOU set the value of each piece of equipment. IF you want to claim your K3 is worth $20,000, they won't ask, they will just charge the premium for it being worth $20,000! (even if you can replace it for $2500 or less.)
    They MAY, however question a $20,000 policy for a radio below the stratosphere in the future before approving a claim or renewing a policy... or any policy; house, auto, etc.
    With ARRL insurance you set the value and pay a premium on that stated value. no matter what. I learner the HARD way, when I bought a HeathKit mobile dual bander, and insured it at the close-out price. The insurance paid my claimed Price, only to learn that the nearest equivalent (by the same manufacturer, but with higher power) was another $500 out of my pocket. Since I claimed the H-K was a close-out, which I foolishly listed at ≈ $300.00, the equivalent (from same manufacturer, sans HeathKit name, was over $800.00 Insurance paid their share @ #300.00, but I had to pay the rest.*And glad I did.)
    Now while I was upset, but I understand, if I claimed a radio worth $300, and that's what was my coverage. I could hardly expect them to replace a $300 radio with an $800 radio,, when the insurance premium was based on a $300 radio. (Not to mention refusal of policy(ies) renewal, since out-right cancellation could lead to ugly litigation.)



    Methinks there is an old Polish Proverb: "Any insurance is better than none at all." And I will add, that if I can't physically provide that insurance, it is in my best interest to seek the assistance of th0se that can.
     
  10. OH2FFY

    OH2FFY Ham Member QRZ Page

    ''This a dangerous town see , and people like you need shurance.
    We would not want any fing bad to hapen to you or ya stuff see.''

    [​IMG]

    gregW:) OH2FFY
     

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