Value of a scanner

[Allen in Montreal]

My insurance company wants to peg a replacement value and approx. replacement equivalent item for my Linotype Topaz scanner. My policy is up at the end of the month and under review.

Any ideas what I should be replacing that scanner with in the event of a total loss?

Keep in mind I must pay the annual premium attached to over insuring it too.
I live in a 100 year old factory, it would take a fire that wipes out the entire city block to see a total loss, but lets play devil's advocate for the shake of insurance.

Thanks,

[IanMazursky]

Hi Allen,

I did some research and the replacement value of a Topaz isn't that much.
Somewhere between a few hundred and a a thousand, depending on condition and accessories.
Assuming you can find one in good condition, i would lean towards the high end.
When you write up the insurance, remember to include any possible shipping or other expenses in the replacement cost.
If you buy it from an equipment reseller the cost would be higher, more in the 3-5k probably. But i haven't checked.

Good luck.

[Allen in Montreal]

Hi Ian,

Thanks, the insurance wants a name of the mostly likely unit I would replace it with since I have a rider for replacement with as current as possible on any item.
I tried to explain that it would depend on when any hypothetical loss might take place, hardly anyone makes scanners any more etc etc.
They want a name of an item and estimated replacement cost.

I said "maybe a Howtek and about 5k used on e bay".
Not good enough.

They have a clause where if I under declare the value of the contents, I become a co-insurer, thereby sharing the risk, and will loose the percentage of claim that I am under insured by.

I do not think however there is any bonus system if I over insure and pay too much for 20 years!

I have been here for 15 years and never claimed a dime, but they put me through this drill every two years or so.

[IanMazursky]

Hi Allen,
I know that drill, feels like the dentist everytime
One option i can think of is to tell them the nearest replacement is an Aztek premier drum scanner or the aztek Plateu flatbed scanner.
New around 30-40k i think. aztek.com has more info and you can call them for the details. They are great guys.

The other option is to call one of the used equipment marketers, they always have a used heidelberg something lying around.
Genesis, MLK, CRES Imaging, Karl Hudson...they can all help.

Hope that helps and good luck!