Is my camera equipment covered actual cash value or replacement cash value?
Generally speaking, your business personal property (camera equipment, computers, lighting, etc.) is covered on either a replacement cost new claim settlement (no depreciation) or an actual cash value (an element of depreciation is calculated into your claim settlement). Check your policy. It will state in your Declarations what type of coverage you have. Of course, Replacement Cost is a better coverage option when available. To discuss your coverage needs please complete thi
Am I covered? "I spilt coffee on my laptop."
A photographer recently spilled coffee on her lap top. It wouldn't turn on. Seemed that the electrical components were fried. She took it to a tech and verified damage. Repair was estimated to be $1,200. Her Business Owners Policy (BOP) extended coverage. Spilling coffee (or other liquid) is a covered cause of loss under a BOP. Direct physical damage from an accidental event is a covered cause of loss unless excluded or limited. Since there is no exclusion or limitation for s
