Equipment Insurance

[Tuck Loong]

There may be some other companies providing this service but I found Liberty's one to be the "cheapest" and the application procedures is both simple and efficient. Approval is "almost" guaranteed =) I have 100% approvals so far.....with zero claims...phew....

All 12 trips I took in the last 3 years covering various parts of the world (US, Aus, Europe, southeast asia and north asia) are free and easy ones....Won't like to join tours to shoot pictures!

Cheers,
Tuck Loong

 

[kongg]

I have worked in a Insurance Claims department b4(AIG American International Group) b4. It is NOT TRUE that Ins cos will eat u or act blur shld a claim arises. Insurance Cos will reimburse the claimants in accordance with the terms and conditions of the policy. However, cases DO get screwed up due to miscommunication and mishandling. Depreciation is quite subjective. Normally claims officers use their own judgement and can depend on individuals(some sibei niao). For me, I will try to attain a fair settlement in the shortest time possible with min hassle or ho ha. On the consumer's part, DO READ the policy and CLARIFY with your agents or the ins co's staff if u have any doubts.

 

[zekai]

Originally posted by kongg
I have worked in a Insurance Claims department b4(AIG American International Group) b4. It is NOT TRUE that Ins cos will eat u or act blur shld a claim arises. Insurance Cos will reimburse the claimants in accordance with the terms and conditions of the policy. However, cases DO get screwed up due to miscommunication and mishandling. Depreciation is quite subjective. Normally claims officers use their own judgement and can depend on individuals(some sibei niao). For me, I will try to attain a fair settlement in the shortest time possible with min hassle or ho ha. On the consumer's part, DO READ the policy and CLARIFY with your agents or the ins co's staff if u have any doubts.

Yeah i can testify, i made 2 claim successfully with AIG b4.

 

[nuts]

Didn't know abt this Liberty Citystate... any websites?

Speaking of NTUC travel insurance, a couple of years ago, went to London/Paris and had my wallet pickpocketed. Had abt 100pounds in it and when I tried to claim, found that it doesn't cover monetary loss!! The only claim I can make is the wallet itself and I got $50 for my $100+ Braun Buffel wallet bcoz of "depreciation"!! ;(
Last I checked though, they cover monetary loss now, up to $500...

..NuTs..

 

[kongg]

Sometimes they have an applicable deductible. Eg Deductible/excess of S$50 for each and every loss. So if u loss S$100.00, u get back S$50. Payout limits are also applicable. Eg The policy provides cover for loss of cash of up to a maximum of S$500 for each and every loss. So if u loss S$1,000. They pay u back S$500. Just have to read and understand wat u are purchasing. Make yr agent or the Ins co employee work!!!

 

[cyrilng]

Originally posted by kongg
I have worked in a Insurance Claims department b4(AIG American International Group) b4. It is NOT TRUE that Ins cos will eat u or act blur shld a claim arises. Insurance Cos will reimburse the claimants in accordance with the terms and conditions of the policy. However, cases DO get screwed up due to miscommunication and mishandling. Depreciation is quite subjective. Normally claims officers use their own judgement and can depend on individuals(some sibei niao). For me, I will try to attain a fair settlement in the shortest time possible with min hassle or ho ha. On the consumer's part, DO READ the policy and CLARIFY with your agents or the ins co's staff if u have any doubts.

I think the officer handling my claim wasn't sure herself & some parts of the policy were unclear as well. As you said miscomm., mishandling & the 'individual' involved all played a part, so one has to stand up for one's rights & be assertive even if the amount involved is small. Just didn't like the way it was handled because she sounded so high-handed & didn't even offer a word of apology even though she finally admitted that she was wrong.

 

[kongg]

There are lotsa legal mambo jambo in Insurance Policy wordings. Sometimes I also blur I also cocked up a few cases!!!But learnt from my cockup. Well, anyway for the sake of good customer service, we were instructed by the management to call back and apologise to customers if we did instead screwed things up. Yes I do encounter fellow Insurance personnel who are really arrogant and inflexible.

 

[Siddhi]

Is it possible to get non-travel insurance for camera equipment ? So that I can get insurance even when not travelling. For example, I was shooting fireworks during the NDP, and there were something like 15 tripods in the corner all along the edge of the water, and no fence. All it takes is for someone to trip and fall and soon most of the 15 tripods and cameras will be under the sea. Or for example, theft within Singapore. Is there some insurance policy that will cover these types of things ?

 

[cyrilng]

Is it possible to get non-travel insurance for camera equipment ? So that I can get insurance even when not travelling. For example, I was shooting fireworks during the NDP, and there were something like 15 tripods in the corner all along the edge of the water, and no fence. All it takes is for someone to trip and fall and soon most of the 15 tripods and cameras will be under the sea. Or for example, theft within Singapore. Is there some insurance policy that will cover these types of things ?

NTUC Income's Mobile Equipment covers both locally & internationally- http://www.income.com.sg/insurance/...quip/settle.asp

But there customer service isn't that great when it comes to claims as I have illustrated in the earlier posts above.

Loss Settlement

Accident

Costs of repairs or sum insured less 2% for each completed month of insurance, whichever is lower

Example
Sum Insured = $5,000
Loss settlement after 10 months = $5,000 x 80% = $4,000

Theft or Robbery

80% of the sum insured less 2% for each completed month of insurance

Misplacement

50% of the sum insured less 2% for each completed month of insurance

For further enquiry, please email to Ginsure@income.com.sg,
or call us at 6788 5255.

 

[vince123123]

one thing to note is that policies are always onerously drafted against the consumer. second is, as from cyring's experience, even when the policy is in your favour, they will refuse to acknowledge it.
lastly, they will learn from those cases wehre they did not manage to squirm their way out of the policy (e..g in cyrling's case) and amend their policy conditions accordingly to plug the "loophole" (e.g. putting clause for depreciation for repair also)

thats how "chow" insurance is

I have worked in a Insurance Claims department b4(AIG American International Group) b4. It is NOT TRUE that Ins cos will eat u or act blur shld a claim arises. Insurance Cos will reimburse the claimants in accordance with the terms and conditions of the policy. However, cases DO get screwed up due to miscommunication and mishandling. Depreciation is quite subjective. Normally claims officers use their own judgement and can depend on individuals(some sibei niao). For me, I will try to attain a fair settlement in the shortest time possible with min hassle or ho ha. On the consumer's part, DO READ the policy and CLARIFY with your agents or the ins co's staff if u have any doubts.

 

[Siddhi]

Hmm, that NTUC policy seems to be only for camera less than 6 months old My camera is almost 2 years old