Originally Posted by
thesaints
They should have well clear that unless the insurance operates at a loss they are playing a losers game.
The only case when insurance is worth it is to protect from catastrophic, life changing, losses (running over a family of lawyers, house on fire, and the likes).
Incidentally it means the wealthier you are the less insurance you need: besides being a losers game, it also forces those who have less to play more. Talk of a double whammy!
Messrs. Buffet and Gates need no insurance whatsoever.
"Niveau wirkt nur von unten arrogant"
If you think that Warren & Bill don’t have insurance, you’re deluding yourself. People with more to lose do more to protect it.
For most people who check a bag to a destination that is not near their permanent residence, a lost bag is a (short-term) catastrophic loss (imagine getting your bag on the last day of your vacation/business trip). Most people don’t know (& are not informed by Luggage Offices) that they can be reimbursed for necessities purchased due to a lost or delayed bag (per DOT regulations). In my personal experience when traveling I always buy Excess Valuation where the inconvenience of a lost or delayed bag exceeds waiting for it to be delivered…& I have NEVER had a delayed or lost bag during an itinerary where I purchased E.V. Coincidence? Maybe, but I doubt it. People who declare $5000 E.V. can more than likely substantiate it (thus making a payout likely). Ship a high value package (i.e. UPS) & I assure you it will arrive, be on time, or someone’s fat will fry. I often travel with luggage whose value without contents exceeds the standard liability limits. If I
MUST check a bag then I
insulate myself from potential loss.
Originally Posted by
USAF_Pride
I've been there. Interesting place. What amazes me is that in the book section, there are library books with all the info to send it back to the right place and they have them for sale. I was also amazed as to the number of DVD's that get lost.
Have a talk with one of the managers there & they might reveal to you that since the inception of the TSA, they get a lot more bags with large cuts in the side & items missing. Seems there have been situations where criminal baggage handlers have partnered up with corrupt TSA personnel. The TSA scanner notes something of potential value in a bag, marks the bag on the appropriate spot, a baggage handler slices it open & removes the booty, retags it to someplace on the edge of nowhere without daily air service. By the time the bag is found the airline has already settled with you & sells “your” bag. You surrender all claims to your bag & its contents with the settlement & it becomes airline property. They sell it to the Unclaimed Baggage Center. If you went to the UBCenter & found your camera (or golf clubs, etc) with your name & SSN etched into it…you would still have to buy it back.
PPP