tom_pada

<p>I'm with PPA's insurance and I had a theft situation where almost 10K of equipment has <br /> been stolen. I was insure with PPA for 15K for thef. They were very slow to process my claim. They didn't accept the original police report because it was hand written. After lots of headache and finally having the record section police supervisor signed and stamp it, they finally accept it and process my claim. Then once the settlement arrived they just settle half of the amount! BE AWARE! Read the fine prints. <br /> <br /> They didn't settle the replacement cost as I was expecting but gave me Actual Cast Value of time of loss. <br /> Due to all my receipts they determine the year of the equipment and calculated the depreciation. They basically devalued my gear and paid less that it was worth. <br /> There was two small prints in the policy that I didn't see.</p> <p>1.) The Depreciation<br> 2.) Age per Year</p> <p>They don't explain this to you. Once signing with them, you think you are coverd and have peace of mind. NOPE.</p> <p>The Photo care plus policy come with two choices.<br /> <br /> 1) Scheduled Property where they pay the = Replacement Cost (but you need to list all your equipments and submit proof of purchase up front) OR<br> <br /> 2) Unscheduled Property = Actual Cash Value Where they down value your equipments.</p> <p>- Depreciation will apply as follows based on the age of lost or damaged property:<br /> <br /> Age means Model Year minus Current Year plus one.<br /> <br /> The calculation is based on model year minus current year plus one.<br /> For instance, the Ipad purchased March of 2014 would be calculated as such:<br /> <br /> Model Year – Current Year + 1<br /> <br /> 2014 – 2016 + 1 = 3 years of Deprecation means 75% of down-valuing. <br /> <br /> For my loss ipad that I paid $665, PPA settle it for just $166 Because they say it's 3 years old.<br /> <br /> For my loss Macbook pro I paid 2014 $2400 + tax. They deprecated 75% off. I GOT $305!!!!</p> <p>BE AWARE! PPA isn't a good choice. Read the Fine prints and ask Insurance companies for the replacement value. PPA is going to rip you off. </p> <p> </p>

<p>I was with PPA's insurance and I had a theft situation where almost 10K of equipment has <br /> been stolen. I was insure with PPA for 15K for thef. They were very slow to process my claim. They didn't accept the original police report because it was hand written. After lots of headache and finally having the record section police supervisor signed and stamp it, they finally accept it and process my claim. Then once the settlement arrived they just settle half of the amount! BE AWARE! Read the fine prints. <br /> <br /> They didn't settle the replacement cost as I was expecting but gave me Actual Cast Value of time of loss. <br /> Due to all my receipts they determine the year of the equipment and calculated the depreciation. They basically devalued my gear and paid less that it was worth. <br /> There was two small prints in the policy that I didn't see.</p> <p>1.) The Depreciation<br> 2.) Age per Year</p> <p>They don't explain this to you. Once signing with them, you think you are covered as they lovely website mislead you. You think you will have peace of mind. NOPE.<br> The Photo care plus policy come with two choices.<br /> <br /> 1) Scheduled Property where they pay the = Replacement Cost (but you need to list all your equipments and submit proof of purchase up front) OR<br> <br /> 2) Unscheduled Property = Actual Cash Value Where they down value your equipments.</p> <p>- Depreciation will apply as follows based on the age of lost or damaged property:<br /> <br /> Age means Model Year minus Current Year plus one.<br /> <br /> The calculation is based on model year minus current year plus one.<br /> For instance, the Ipad purchased March of 2014 would be calculated as such:<br /> <br /> Model Year – Current Year + 1<br /> <br /> 2014 – 2016 + 1 = 3 years of Deprecation means 75% of down-valuing. <br /> <br /> For my loss ipad that I paid $665, PPA settle it for just $166 Because they say it's 3 years old.<br /> <br /> For my loss Macbook pro I paid 2014 $2400 + tax. They deprecated 75% off. I GOT $305!</p> <p>BE AWARE! PPA isn't a good choice. Read the fine prints and ask Insurance companies for the replacement value while signing. I loss out by $5000.</p> <p> </p>