I'm pretty skeptical about insurance. (I'm a security maven, so I think of it as "risk transfer," which, of course, it isn't.) I recently had some kind of spam pop up in my email that was offering me some version of cyberinsurance (which is generally a really bad idea) that seemed to be offering to insure me against ransomware. (It was offering to pay my regular salary if I was forced to miss work, so, as a contractor, that's an automatic "no" anyway.)
Packing and arranging for the move I had to get "strata" insurance, which, as far as I can tell, is just bog standard tenant's insurance, with the addition of some coverage of the deductibles that the strata's insurance doesn't cover. It all seems unnecessarily complicated.
And then there were the movers. I had a bunch of quotes. A number of them itemize the costs, and those that do always include insurance. Now, let's analyze this. The movers are insuring *themselves* against any damage *they* cause to *my* stuff while they are moving it. And they *don't* cover anything that *I* pack: only stuff that I pay *them* to pack. And they want *me* to pay for the insurance in case *they* break anything?
Strata insurance covers for such things as common water damage (different insurance policies call this different things). The entire strata has a deductible (such as $5000) for a "strata water leak that affects multiple units", one's own strata insurance needs to include a line item that covers up to this amount (otherwise, you're out of pocket for the difference).
ReplyDeleteI've changed insurance agencies because the silly asses hide such things and their minions are trained to bafflegab around the issue.
The ideal situation is that the two insurance companies fight it out among themselves and leave you out of it.
I'd pay money to see suited insurance agents (with briefcases) fight it out in a square ring with a referee.