Update your insurance - you don't want this to happen to your Macs!

Discussion in 'Buying Tips and Advice' started by atlanticza, May 4, 2009.

  1. atlanticza macrumors 6502a


    Jul 18, 2008
    Cape Town
    Just a word of caution - our offices burnt down over the weekend, and we had just replaced our Macs with brand new ones. Fortunately we were adequately insured - how about yours?

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  2. aaronw1986 macrumors 68030

    Oct 31, 2006
    Ouch, I am in college and live in an apartment, so I would cry very hard if I lost my macs. Actually that almost happened earlier this year, a fire was started at like 3 am.
  3. Lorenz0 macrumors regular

    Mar 12, 2009
    Hmm... a cautionary tale about adequate buildings and contents insurance

    Makes a change from the usual "is this covered by my warranty?" question. :)
  4. Airforcekid macrumors 65816


    Sep 29, 2008
    United States of America
    At least it wasnt your money/macs? Still would be tough!
  5. AlphaAnt macrumors regular


    Sep 9, 2006
    MD, USA
    Renter's insurance. Not very expensive, mine is around 20 a month, and having it gets me a discount on my auto insurance since they're from the same company.
  6. ski2moro macrumors 6502

    May 3, 2007
    Exactly! They never teach you about buying insurance in school. Many people don't learn this until they suffer a loss. Renter's insurance is important, too.

    Replacement Value Insurance is the key. I don't know how this works in other countries, but in the US, it is vital. It costs a little more, but this is how it works.

    Let's say you have a 6 year old 34 inch TV that you paid $900 for. It's only worth maybe $100 today if you are lucky. Regular insurance gets you the current value of $100. With replacement value insurance, you can replace the 34 inch TV with a new one.

    To the extreme example, we had a top-of-the-line sewing machine from 1964 in our house. (inherited from an old aunt.) It worked, but it was not worth more than $25-50 if we tried to sell it. We had a loss (from a broken pipe in the basement of our new house that soaked it) and the insurance company replaced it with the current top-of-the-line-machine that cost $5000. Needless to say, there was one happy woman in this house.

    We didn't cheat the insurance company, we paid for the insurance, we had a loss, and they replaced it per their policies.

    Often, if you "call out" your valuables, including your computers, they will replace your equipment with new. Top-of-the-line for top-of-the-line. YMMV as some insurance companies may refuse some things at first. Keep on them, prove your case, and you can get what you want.

    And, as long as we are talking about losses, it is the perfect time to nag you about your backups. Keep an up-to-date backup of your data off-site. In the event of a catastrophic loss (fire, theft, tornado), you still have your wedding video and baby photos and tax info intact in another location.
  7. MattZani macrumors 68030


    Apr 20, 2008
    I'd love to walk in to the store and get to order new ones though xD
  8. macgrl macrumors 65816

    Jul 17, 2008
    Adequate insurance is so important. I have a fairly comprehensive home contents policy and having not claimed on it ever it has come down in price quite a lot over the years. Nice to know that is there though:)
  9. runebinder macrumors 6502a


    Apr 2, 2009
    Nottingham, UK
    Agree with that. Never had insurance when I was younger, went to visit a mate for week on hols, came back come to find I had been burgled. The place had been totally trashed and all my valuable items (PC, stereo, music collection, TV etc), had been taken.

    Had to slowly replace everything out of my own pocket, was a harsh lesson but have never been without insurance since. Even if you don't have to claim it's worth it for the peace of mind, especially when going on vacation.

    Before I got my MBP I rang my contents insurers to find out whether it'd be covered for acc dam, fire and theft, thankfully it is.
  10. theLimit macrumors 6502a


    Jan 30, 2007
    up tha holler, acrost tha crick
    Two subjects I wish would be taught in high school are the importance of insurance policies and how to build and maintain good credit. Those are two of the most important things one needs to know as an adult.
  11. macgrl macrumors 65816

    Jul 17, 2008
    I have to say that I completely agree with you. Insurance and credit are very good examples of where people often learn after the event when the damage has been done.
  12. fireman13 macrumors 6502

    Aug 12, 2008
    Florida Panhandle
    being a firefighter, my first concern is the safety of the fireman and anyone that might have been in that building. I hope no one was hurt. This Is a good reminder to get insurance whether you rent or own.
  13. themoonisdown09 macrumors 601


    Nov 19, 2007
    Georgia, USA
    Your office doesn't happen to be an insurance agency, does it?
  14. atlanticza thread starter macrumors 6502a


    Jul 18, 2008
    Cape Town
    Well that's one hell of a way to advertise our business if it was! No, it's an internet-based business and fortunately all our servers are off-site so no vital data was lost, nor was there an interruption of our service to our clients. (There's a lesson in that too - back-up.)

    Nobody was hurt as the fire occurred on a Sunday. It was a 120 year old building, floors, ceilings, beams all wood. It apparently started in a fast food outfit on the ground floor when oil in a pan caught fire and the manager tried to extinguish it with water!

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