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View attachment 93775

This picture was borrowed from a post by Cany.

Here's a difference of opinion. What do you think? Two friends. I'm not going to say who's who. One lends the other friend some equipment that's in fantastic condition but it's a few years old. The other one, no fault of his own, unfortunately loses everything that was borrowed. His insurance company deducted 28% from replacement cost. How much should the original owner get. Full price to replace or the insurance deducted price?

View attachment 93775

This picture was borrowed from a post by Cany.

Here's a difference of opinion. What do you think? Two friends. I'm not going to say who's who. One lends the other friend some equipment that's in fantastic condition but it's a few years old. The other one, no fault of his own, unfortunately loses everything that was borrowed. His insurance company deducted 28% from replacement cost. How much should the original owner get. Full price to replace or the insurance deducted price?

View attachment 93775

This picture was borrowed from a post by Cany.

Here's a difference of opinion. What do you think? Two friends. I'm not going to say who's who. One lends the other friend some equipment that's in fantastic condition but it's a few years old. The other one, no fault of his own, unfortunately loses everything that was borrowed. His insurance company deducted 28% from replacement cost. How much should the original owner get. Full price to replace or the insurance deducted price?

View attachment 93775

This picture was borrowed from a post by Cany.

Here's a difference of opinion. What do you think? Two friends. I'm not going to say who's who. One lends the other friend some equipment that's in fantastic condition but it's a few years old. The other one, no fault of his own, unfortunately loses everything that was borrowed. His insurance company deducted 28% from replacement cost. How much should the original owner get. Full price to replace or the insurance deducted price?

Full replacement price.

Tricky question. I'm guessing that the fact that friend 2 is borrowing equipment means a shortage of funds to purchase or rent their own?

We both agree, money is not a factor.

Well, the language of insurance is for the claimant to be "made whole" in the event of a loss. Basically, pre loss condition. Naturally, they write a contract that stipulates the cash value of "whole" wherein they include depreciation or other "dings" against the value. Unless you're paying for a replacement value policy.

Since the borrower appears to have made the claim against their own insurance, they saved on the cost of full replacement policy, choosing to basically self-insure the balance.

Therefore they're obligated to self-insure the loaner for the balance.

Sounds very lawyerly, doesn't it?

Just recovering from a coughing fit. I ground up peppercorns and the dust filled the kitchen I had to run outside to breathe 😳

One razor knife, needle nose pliers, one bloody finger, & almost an hour & I finally got all of last falls black fishing braid out of the windlessView attachment 93818

Who’s is that? It sounded injected when it started.
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One razor knife, needle nose pliers, one bloody finger, & almost an hour & I finally got all of last falls black fishing braid out of the windlessView attachment 93818

Trace it back to the reel that caused it.