Keep Red One MX insured?

[Mike Hechanova]

So I've had my r1mx on my insurance as $25k to replace since that's what it was still at in the store before the announcement. Do I just take it off my policy since its EOL? Can you insure it for replacement via used purchase? The BT redones are a temporary offering and price. Who knows what used r1s will sell at after stock runs out. Obviously i still care if it is stolen and its still has value but how can that value be quantified to an insurance company?

What are you guys doin with yours?

Thanks for the advice

 

[Todd T]

Unless you do not want to replace it, keep it insured.

Remember, that Replacement cost is the amount it would take to buy a similar unit to replace the yours when you file a claim.

Insurance adjusters will look to see what similar units are selling for to come up with a replacement value.

Right now, even though you a have $25k replacement policy, if you file a claim, the insurance adjuster will only cut you a check for $4k, since that is the current amount needed to "replace" your camera body.

If you change your policy to $4k coverage, and the price goes up after the BT units are all sold, then you would have to pay the difference.

The closer you keep the replacement policy amount to the actual replacent cost minimizes your premiums and your out of pocket expenses.

 

[Dan Kanes]

Keep your replacement value.

If there are no Red Ones Left for 25k you will be able to replace it with your epic for 25k since that is all that is left that is comparable.

 

[Adam Johnson]

So what would you suggest a BT Red One MX owner insure their camera(s) for?

 

[Mike Hechanova]

Keep your replacement value.

If there are no Red Ones Left for 25k you will be able to replace it with your epic for 25k since that is all that is left that is comparable.

See, that's interesting. I'm not sure if they would replace an identical but used body or if they would replace comparable but new body since it will no longer be available new. I guess that is a question ill take to my company for confirmation.

Thanks for the insight fellas.

 

[John Waldorff]

No, they will downright for each year of use.
While they will pay a repair at full value the current asset value after 5 years is 0%-20% depending on your insurance.

Getting an Epic covered by insurance is a dream, unless you paid 10Grand to that insurance.

 

[Michael AvMen]

Since your Camera is End of Line the next best thing to Replace it is the EPIC. Keep the 25k. Purpose of insurance is to make you Whole again in the Event of a Loss.

 

[Twojay Dhillon]

New BT MX owner here (have not yet received unit),

Question: which companies are most folks using to insure their cameras and camera AKS?

Thanks much!

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TwojayDhillon.com