Detector Insurance

[Rick K - First Member]

With $10,000 detectors now available, the owners better take a look at their insurance. Auto insurance, for example, usually doesn't cover theft of items from inside the car. Theft losses from your car or anywhere else away from your home may be covered under your homeowners or renters insurance.

You need to check your policy however - there may be specific limits or exclusions which apply to this. Especially valuable items – like a $10,000 metal detector may not be fully covered - there are often per item limits or per category limits which set the maximum amount of coverage to equal some percentage of the value of your house.

Having one or two very expensive metal detectors swiped from your vehicle or from your home could leave you with a large uninsured loss. If you're in doubt check with your insurance agent.

[Shelton]

That is true. Another issue air insurance... this is pain here in EU.

[Rick K - First Member]

Don't put anything you can't afford to lose in checked baggage.

[Sourdough Scott]

I had a few gold prospecting related bumper stickers on my rig. I thought people might see those and draw some attention. So I peeled them off. When you carry expensive detectors. No need to stick out.

[fredmason]

I doubt you will be able to carry that minelab into the cabin...

 

fred

[snakejim]

I had a few gold prospecting related bumper stickers on my rig. I thought people might see those and draw some attention. So I peeled them off. When you carry expensive detectors. No need to stick out.

I stopped putting bumper stickers on my vehicles a couple of years ago for the same reason. Why advertise stuff that tempts thieves.

[gollum]

I put eco-friendly stickers on mine, so BLM Rangers think I am a tree hugging hiker. 

 

"LEAVE ONLY FOOTPRINTS"

 

"SAVE OUR WILDERNESS"

 

"EARTH LOVER"

 

HAHAHAHAHAHAHAHAHAHAHA

 

Mike

[Mike]

Where would one insure their detector? If soccer players insure their legs and Keith Richards insured his hands detectorists must be able to insure their machines. 

 

Gollum – That's exactly why I don't advertise that I'm detecting either. If someone sees a GPAA sticker on my rig out in the wilderness they suddenly know what I'm doing out there. A million reasons why that could be a bad idea. But, when you slap on an Audubon sticker everyone assumes you're a bird watcher, lol. 

[Rick K - First Member]

Again, ifyiu have homeowner's or renters insurance, younshould check the coverage. You may need to "list" a $10k detector in order to have full replacement value coverage on it.

[Gold Seeker]

Whatever insurance you may find that will cover the theft of a metal detector, just listing it with your insurance company may not be enough, make sure you have detailed clear photos or video of the detector and all the accessories, this includes clear photos of the model numbers, serial numbers, and have the receipts if possible and store all of this proof in a fireproof safe or in a safety deposit box, if you have ever tried to get insurance companies to cover any losses from your home, car, etc. either from fires, flood, or thief, you will know these photos,videos, receipts are a must if you expect any coverage of your losses, especially full replacement coverage, this applies to anything you are expecting your insurance to replace fully or part of the value under a insurance policy if a loss occurs, some items such as jewelry, art or similar items that have no way to determine current value I would suggest you have a fairly recent appraisal to expect to get full replacement value under your policies!!!

Don't learn the disappointment of finding out some items will not be covered by your insurance because you couldn't prove you had them and or what their values were the hard way by not having documented proof of such!!

As we all know insurance can be more expensive then we would like and most of the time it's never needed, but do your own due diligence if you expect that insurance to live up to your expectations of why you purchased it to begin with, I can assure you the insurance companies will do their very best to not cover all of the losses you hoped it would cover and in some cases none at all if you can't provide positive proof of the losses in your claim!