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"Replacement Value" of 15" PowerBook G4

C

cingmot

macrumors newbie
Original poster
Mar 7, 2006
1
0
I had my 15" PowerBook G4 stolen recently and the insurance company only want to pay me $1700--outrageous. The computer was as follows:

15" display
G4 1.67 GHz
1GB RAM (factory-installed)
SuperDrive

and was manufactured in July '04. I think it's worth at least $2,500 from the insurance company... can anyone tell me where I might be able to go to get something as simple as a website or product guide that concurs?
 
$2500 for an 8 month old discontinued computer? Would you pay that kind of money for that Powerbook today? C'mon. Even the last Powerbook G4 15", which was better than your old one, retailed for $2000 when it was available (which it no longer is). I think $1700 is a steal. Good luck trying to get more than that.
 
I have had computers replaced before, but I have replacement value on my insurance. House got hit by lightening...got all new computers several years ago:cool:
 
w8ing4intelmacs said:
$2500 for an 8 month old discontinued computer? Would you pay that kind of money for that Powerbook today? C'mon. Even the last Powerbook G4 15", which was better than your old one, retailed for $2000 when it was available (which it no longer is). I think $1700 is a steal. Good luck trying to get more than that.
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i agree with you... $1700 is a blessing... and to me it is "outrageous" that you think they are lowballing you...
 
I think people should stop ragging on the OP. I understand when you pay for something new and get insurance, you expect something new if yours is destroyed. This is not how insurance works.

If you buy a BMW 330i for $36,000 today and you insure it, crash it two years later, and it is totaled, they are going to give you the RESIDUAL value... not the originaly 36,000 you paid. After two years, that BMW is probably only worth about 26k or so... and THAT'S what you get - to buy ANOTHER TWO YEAR-OLD one. Same thing in the computer industry... :(
 
StarbucksSam said:
I think people should stop ragging on the OP. I understand when you pay for something new and get insurance, you expect something new if yours is destroyed. This is not how insurance works.

If you buy a BMW 330i for $36,000 today and you insure it, crash it two years later, and it is totaled, they are going to give you the RESIDUAL value... not the originaly 36,000 you paid. After two years, that BMW is probably only worth about 26k or so... and THAT'S what you get - to buy ANOTHER TWO YEAR-OLD one. Same thing in the computer industry... :(
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That is a COMPLETELY fair policy. Why would an insurance company pay you $36,000 for a car you crashed? I sure as hell wouldn't if I were that insurance company. I might have a slightly different policy for if the car was stolen. Probably not, as that is what the police and/or a lawyer is for. Same goes for the Powerbook.
 
StarbucksSam said:
I think people should stop ragging on the OP. I understand when you pay for something new and get insurance, you expect something new if yours is destroyed. This is not how insurance works.

If you buy a BMW 330i for $36,000 today and you insure it, crash it two years later, and it is totaled, they are going to give you the RESIDUAL value... not the originaly 36,000 you paid. After two years, that BMW is probably only worth about 26k or so... and THAT'S what you get - to buy ANOTHER TWO YEAR-OLD one. Same thing in the computer industry... :(
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Your car analogy is spot on but there are replacement value insurance policies for homeowners. I have one and I think you're nuts not to have one. It doesn't cost much more.

That being said, the OP deserves to be ragged on. His computer is almost 2 years old and he is being offered a very fair settlement.
 
StarbucksSam said:
I think people should stop ragging on the OP. I understand when you pay for something new and get insurance, you expect something new if yours is destroyed. This is not how insurance works.
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Apologies for sounding harsh... noticed the "newbie" status. they deserve a break as I was once one myself.

either way. this should be a lesson learned...
 
m-dogg said:
Basically, if the OP has replacement value on his policy (and pays a higher premium for that coverage), than he should receive exactly what he paid for it. If he has actual cash value coverage, he'll get whatever the current value is. Which in this case - $1700 - I'd say is fair. It's pretty much a new MacBook Pro for $200.
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No, on a replacement policy he will receive what it costs to replace it (not what he originally paid for it), based on the invoice of the replacement unit, less your deductible.

If you do not replace it, you get something like 70% of what you originally paid for it, you have to produce the original receipt or get a signed appraisal.
 
What happens on a new-for-old policy when it comes to laptops? And what if you specifically insured a computer when you bought it? I.e. had it listed on home insurance which I'm sure woud be something worth doing on top end Powermacs.
 
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