Test Equipment Insurance Coverage (US)

[HalFoster]

All-

Having just more or less completed a move, I have realized just how much TE I have accumulated -and how hard it would be to replace- and want to prepare for the worst if at all possible, so for those out there with a substantial collection of equipment: how do you handle it's insurance coverage?  The standard replacement cost for contents coverage would apply, but how does that work for 30-50 year old equipment?  I know what I *paid* for it but that is (hopefully) less than it is worth - especially after any restoration work has been done. Who decides, and is there anything to do in advance to realistically tilt that in my favor? Are there ways to get specialized coverage?

TIA,

Hal

[Grandchuck]

For homeowners:  https://www.progressive.com/answers/insurance-rider/#:~:text=A%20rider%20is%20an%20add-on%20to%20a%20homeowners%2C,covered%20on%20your%20policy%20or%20is%20inadequately%20covered.

[jpanhalt]

That question can only be answered by careful examination of your policy and consultation with your agent. 

Cameras, collectibles, jewelry, and sporting equipment may require special coverages and documentation.  Be sure to understand the limits, footnotes, and exceptions.  Equipment commonly used in a profession or potentially used as such may not be covered on the basis that the insurance is only for such things as found in a typical home.  Business insurance would be different.

While there may be coverage for "cameras, computers, and electronic equipment," I would not be surprised if a $20,000 Tek oscilloscope was not covered.

EDIT:
From the link in the previous post,

Specialty items: These include bicycles, cameras and projection equipment, musical instruments, firearms, and other notable possessions. Some exclusions may apply.

All policies I have seen have such comments.

[HalFoster]

Yes, but how to get/structure one that applies to Boat Anchors is the issue.  For other things you can get "Stated Value" coverage but this is usually quite expensive and I don't know if this is possible for TE or if there are ways to adapt more standard coverage to work.

Hal

[jpanhalt]

Again, ask your agent.  That's what they are for.

Edit:  With my moves, I personally transported anything I didn't want to risk losing, including tangible things like money or gold.

[tkamiya]

You may want to consider something called "named article insurance."  This is when you list the exact item you want covered and pay for the coverage.  I used to do this for camera/lens, and watches.  You'll find most home owner's insurance coverage has so many restrictions and limitations that they aren't that effective for these items.

As to 30 to 50 year old equipment, I don't see that much risk to require insurance.  You get to cover either replacement value or current value. 

I'd like to see someone carry a set of HP8566B and run....  This 40 year old spectrum analyzer is about 150 pounds.