Sorry if this is a repeat- I think I screwed up the form the first time, so I re-submitted this.
Here goes (2):
There is no provision in any insurance policy that I have ever seen that even mentions UL listing. The lack of UL listing, homegrown / poorly manufactured equipment, and even prior problems you might have had with a piece of equipment (herein to mean a cable, amp, any piece of gear, your toaster oven, microwave, computer, space heater, or anything else plugged into the wall) WOULD NOT be grounds for the denial of ANY claim that would otherwise be covered under the provisions of your first-party insurance policy. Period. Pay extra atttention to the OTHERWISE BE COVERED part of that last sentence. If you rig a non-UL powercord to burn down your house, for example, this loss would not otherwise be covered and you should be flogged.
IF a faulty widget was found to be the cause of you returning home from work to find a smoking hole in the ground where your house once was, your insurance company would pay your claim less deductible then bring their considerable resources to bear upon the responsible party in an effort to extract restitution. Keep in mind that in such a case, the responsible party is liable only for the depreciated value of damages whereas your homeowner's insurance, if you pay for replacement cost, will still pay out the full replacement value subject to the policy provisions (read the section regarding items that are not in working order at the time of loss, or that by their very nature are inherently irreplaceable). This means you'll never recover your deductible, since your insurance company has paid out a loss on your behalf. Further, your premium may still take at least a temporary hit, and the fire will be included in your rating as a loss for future underwriting decisions. Still way better than having the same smoking hole in the ground and no insurance. When the dust settles, you'll have all new stuff, and you'll be out your deductible.
Don't believe me? Set yourself apart from 99% of the population and send your insurance agent a letter requesting an underwriting-certified copy of your insurance policy, mail that letter registered mail. When you get the policy, read it. Pay attention to things that should matter to most audiophiles such as special limits for certain types of losses to guns, jewelry, numismatic property, software, and artwork. These individual provisions can vary somewhat from company to company. An example from a typical HO-3 Homeowner's policy is below:
SPECIAL LIMITS OF LIABILITY. These limits do not increase the Coverage C limit of liability. The special limit for each numbered category below is the total limit for each loss for all property in that category.
$200 on money, bank notes, bullion, gold other than goldware, silver other than silverware, platinum, coins and medals.
2. $1,000 on securities, accounts, deeds, evidences of debt, letters of credit, notes other than bank notes, manuscripts, personal records, passports, tickets and stamps. This dollar limit applies to these categories regardless of the medium (such as paper or computer software) on which the material exists.
This limit includes the cost to research, replace or restore the information from the lost or damaged material.
3. $1,000 on watercraft, including their trailers, furnishings, equipment and outboard engines or mo-tors.
4. $1,000 on trailers not used with watercraft.
5. $1,000 for loss by theft of jewelry, watches, furs, precious and semi-precious stones.
6. $2,000 for loss by theft of firearms.
7. $2,500 for loss by theft of silverware, silver-plated ware, goldware, gold-plated ware and pewter-ware. This includes flatware, hollowware, tea sets, trays and trophies made of or including silver, gold or pewter.
8. $2,500 on property, on the "residence premises," used at any time or in any manner for any "busi-ness" purpose.
9. $250 on property, away from the "residence premises," used at any time or in any manner for any "business" purpose. However, this limit does not apply to loss to adaptable electronic apparatus as described in Special Limits 10. and 11. below.
10. $1,000 for loss to electronic apparatus, while in or upon a motor vehicle or other motorized land conveyance, if the electronic apparatus is equipped to be operated by power from the electrical system of the vehicle or conveyance while retaining its capability of being operated by other sources of power. Electronic apparatus includes:
a. Accessories or antennas; or
b. Tapes, wires, records, discs or other media;
for use with any electronic apparatus.
Hope that helps.
TWL:Just out of curiousity, what is the source of your information about this? What's the source of your animosity towards insurance companies? Also note that insurance companies, especially when it comes to claims, are not totally run by attorneys and accountants, there are also adjusters, and they're pretty much all big fat jerks. ;^)
