Tackle Insurance

[La Niņa]

How many of you guys have had a proper think on what your tackle arsenal is worth, i mean replacement cost..... not what you paid for stuff. If i look at the cost of tackle today most of what i bought a few years back will cost double to replace!


My question is are you insured properly for everything and how have you structured your policy?


In my case i have a fair amount of tackle due to the fact that i fish so many different disciplines, from Offshore tuna to light tackle Inshore and rock and surf. The problem now comes when i look at how much tackle i take out on any given trip and this is probably never more than 20%, so it does not really make sense to Insure everything on a all risk cover as you will never lose everything on a fishing trip and the premiums will be very high. The problem is that everything needs to be insured for fire and theft at home which then falls under household cover.




 

[Ziggy]

dont insure things that you can afford to replace .....as a general principle. And dont insure old technology, because ultimately you will pay more for insurance over time than the thing is worth

take short term insurance for when you go on a trip - generally the shortest period that companies insure for is 3 months (my experience with momentum insurance)

[Hammer]

I have insurance of 115k for tackle I take on the boat. It's not so expensive, If something went wrong where do you find that money to replace it ?

[La Niņa]

dont insure things that you can afford to replace .....as a general principle. And dont insure old technology, because ultimately you will pay more for insurance over time than the thing is worth

take short term insurance for when you go on a trip - generally the shortest period that companies insure for is 3 months (my experience with momentum insurance)

Fair enough, i can afford to replace some of my reels but what happens the day your house burns down or you get cleaned out during a burglary and everything is stolen, there is no way i could afford to replace all i have in that event.
As for insuring stuff short term for a trip, I pretty much do a fishing trip every week when i am home when i fish locally so short term is not a option.