Film-Tech Forum ARCHIVE: replacment cost

This is topic replacment cost in forum Film Handlers' Forum at Film-Tech Forum ARCHIVE.

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Posted by Shawn Tutor (Member # 6495) on 08-30-2011, 03:09 PM:

our roof came off during Irean. everything in our booth got wet. We we have replace cost insureance. Wounder if it will pay to replace our 35mm projectors with digatal projectors?

Posted by Timothy Eiler (Member # 383) on 08-30-2011, 03:28 PM:

I would thing you would receive a check for The cost of replacing the 35mm minus any deductible you might have. My experience is that they wont care what you replace it with be it 35mm or digital. At this Point I would go digital if you plan on staying in business

Posted by Brad Miller (Member # 2) on 08-30-2011, 04:17 PM:

Nope, the first thing to do is read the rules and fix your teaser subject title.

Posted by Frank Cox (Member # 6258) on 08-30-2011, 04:31 PM:

To the best of my knowledge, replacement cost insurance pays you the current value of your insured stuff instead of the depreciated value.

I think this would normally be beneficial to you as the owner of the insured property. But in this case the current value of 35mm projection equipment is rapidly approaching zero (or negative if you have to pay someone to haul it away) so you may not receive anything for that equipment at all. Depending on other terms of your insurance policy, you may receive compensation for the cost to remove the equipment and clean up the site.

Obviously you need to talk to your insurance agent/adjuster/lawyer about this to get some real clarification.

Posted by Monte L Fullmer (Member # 2797) on 08-30-2011, 05:43 PM:

You could find the price of a compatible replacement unit and present that to the insurance people - like the price to replace a destroyed amplifer with a compatible one...and so forth.

Make a punch list of all the stuff damaged, search out how much it would cost replace each damaged item, for them ins people want a very detailed list of items, with serial numbers to even begin with the adjustments.

But, you need to get the roof fixed first ...

Posted by Mike Spaeth (Member # 524) on 08-30-2011, 05:57 PM:

Ugh ... replacement, Irene... do schools teach spelling any more?

Posted by John Wilson (Member # 269) on 08-30-2011, 06:06 PM:

quote: Shawn Tutor
our roof came off during Irean. everything in our booth got wet. We we have replace cost insureance. Wounder if it will pay to replace our 35mm projectors with digatal projectors?

Welcome to Film-Tech, Shawn.

Apart from you needing to go back and read the rules you just agreed to in order to join (especially the 'no teaser' part...just go edit your post and change the header to a clearer description), you will get a much better response if you remember we are not Facebook and you need to spell correctly in your posts. Not 100% correct, but 10% would be nice.

Spell checker is your new best friend.

As far as your dilemma, your 35mm equipment is worth nothing. Your only option is to either find some other 35mm equipment worth next to nothing or go digital. Don't be expecting too much (read 'anything') from your insurance company.

Posted by Mike Blakesley (Member # 26) on 08-30-2011, 07:01 PM:

Since they have "replacement cost" insurance, I would expect that the insurance would pay for the cost of new 35mm equipment. If they want to upgrade to digital, the difference would be on them.

The "value" of the 35mm equipment in today's marketplace is not the issue, if the insurance is truly set up for replacement cost.

Shawn, just go to your friendly equipment dealer with a list of what you have, and ask for a quote on that similar type of NEW equipment. Submit that to insurance, wait for a check, and then use it to pay a down payment on some new shiny digital gear.

(And, you better heed everyone's advice about fixing your title to something more specific or this thread probably won't last the rest of today.)

Posted by Scott Norwood (Member # 30) on 08-30-2011, 08:17 PM:

Is the equipment really beyond repair? I would think that a standard mechanical film projector could be saved by drying it out quickly and maybe replacing a few parts. Even motors and electronics might be salvageable if dried out quickly enough (and not powered up until completely dry).

This assumes that the water was clean rainwater. Salt water or dirty water would probably trash everything.

Personally, I would call a technician right away and see if he has any suggestions as to how to best salvage what you can before parts start rusting.

Posted by Frank Angel (Member # 248) on 08-31-2011, 05:25 AM:

True that, but if his insurance is TRULY replacement cost with no small type loopholes, exclusions and nafarious ways for them to get out of paying, then the best would be like Mike says, sit and wait for them to pay for the cost of a new 35mm machine and use it toward paying for a digital box. The real question would be if the insurance company would actually fork over the cost for, say a new Kinotone A series. My understanding is that these replacement cost products are structured in such a way as to not allow you to buy used equipment, which seems silly from their point of view, but so be it. Whatever they pay could be a nice down payment on digital.

Posted by Brad Miller (Member # 2) on 08-31-2011, 11:28 AM:

Shawn - We are serious about not wasting people's time with teaser subject titles. Fix your teaser subject title to be clear of the discussion. Last warning.

Posted by John Wilson (Member # 269) on 09-01-2011, 05:41 AM:

Will he be back?

Posted by Jonathan Althaus (Member # 5042) on 09-01-2011, 04:56 PM:

He was arrested by the Anti-Troll and Grammar Enforcement Squad