« on: July 11, 2014, 07:39:36 PM »
Many years ago, I was given the advice that you insure yourself only against events that happen very rarely and are too expensive for you to cover. If you can afford to replace your gear, then don't insure it...
The OP mentions having $45,000 worth of gear – that's about what I have, and I'd find it difficult (if not impossible) to replace that amount in the short term.
But a good reminder is that you should consider carefully before filing a claim, at least for US policies covering personal (not business) use. Those are generally linked to homeowners'/renters' policies, claims against them go into the same database (CLUE), and can affect rates and even eligibility for home/rental coverage.
I view my policy as 'catastrophic' coverage. If I drop my 135/2L to the pavement and it shatters, I'll buy a new one. If my 1D X + 600/4L IS II fall off a cliff, or if my house is robbed and all my gear taken, I'll file a claim.
Agree...that's how I would handle it too.....generally.