Stolen Fuji: Value Question for Insurance: PLEASE RESPOND ASAP

I just had my Fuji GW690 stolen tonight. It was in very good condition. I

originally paid $400 on Ebay for it. But my insurance uses "replacement value"

for losses. What would be an appropriate figure for that for when I report and

discuss this with them. I must do this very soon so any info would be much

appreciated.

Thanks

Check B&H.

Bummer...sorry about your loss. I've been looking into insurance as well. I'm no expert but I'd be surprised if you got more then $400. Did you have to produce some sort of proof of purchase when you took out the policy? I would think that is a given. Remember, insurance companies are in it to make money. Paying out on a loss is runs counter to this of course. I wouldn't be surprised if they even gave you $200 and told you "Happy bidding!"

I just got through looking at KEH's website. KEH is about as fair priced and as good and as reputable a company as you're likely to ever find. They have one GW 690 in excellent condition for $665.

 

Just on the off chance that you may actually have a GW 690 III, they have one in poor (BGN) condition for $849 and another in excellent plus condition for $1169.

 

Geez, I bought my GW 690 III a few years ago for $700 including an incident light meter.

I had my GS645 folder stolen a few years ago and had similar coverage. The adjuster paid the claim based on the nearest replacement, which at the time was the auto focus version. I used the opportunity to buy a Bronica RF645 and that also flew with them. You paid extra premium over the policy term to have your loss replaced and you should expect that coverage at claim time. Your deductible amount may be high enough that the claim may not make financial sense. Your situation is made more awkward because there isn't anything currently produced that would be direct replacement but Mamiya 7 series and they are a bit pricey. Unless you are considered a "problem" claimant with previous claim history issues, my bet is that the company will treat you fairly. Good companies use these small dollar incidences to resell themselves to policyholders and gain long term loyalty from profitable customers.

If your insurance uses replacement value, it is probable that they will ask you to purchase a replacement and send in the bill for re-imbursement.

Thanks everyone. I think the best bet may be "silence is golden", i.e., since an out of production camera's value for replacement can be determined various ways, I'll report it and see what they say first. Then complain or smile as the case may be. I do have a high deductible, so unless they use a high figure, it is a zero sum result. Thanks for all the info though, very helpful.

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