Re: [Leica] Here is what it says....Part deux

[Bryan Caldwell <bcaldwell51@earthlink.net>]

Seth,

Here's a little math (not my best subject) to point out the disadvantage
(for many people) of the Passport warrantee. I understand that this applies
to non-professionals and that insurance rates vary from geographical
location to geographical location.

In round figures, a USA M6 TTL costs $300 more than an "grey" market M6 TTL
(using Tamarkin and Don Chatterton as references - both sell USA and
"grey"). $1950 for USA and $1650 for "grey." Therefore, Passport protection
for three years costs $300 or $100 per year. As we've already discussed,
Passport alone will not protect loss or damage from fire, theft, or any
situation in which the remains of the camera cannot be retrieved and
returned to Leica (dropping in the ocean, for instance).

I have an "all-risk" camera rider on my homeowner's insurance policy. The
only "risks" not covered are war, nuclear explosion and, for some reason,
insects. Theft and fire are covered as well as accidental damage and total
loss. It costs approximately $11.00 per year for each $1,000 of value
covered. Therefore, a "grey" M6 TTL costs $18.15 per year to insure, or
$54.45 for the three-year period of the Passport warrantee.

My coverage does not cover mechanical breakdown that is not the result of
damage. This is covered by Passport. But, if you buy from a reputable dealer
like Tamarkin or Chatterton, they provide their own warrantees for this.

Of course, my situation does not apply to everyone. It presupposes an
existing homeowners or renters policy and, as I mentioned above, rates can
vary. It also does not apply to professional photographers insuring the
tools of their trade.

The above also doesn't take into account Leica Days or the periodic rebates
which make USA purchases a little more attractive. But with the fire, theft
and recovery issues, I would never be content with Passport alone. Since I
would always add a new purchase to my camera rider, any increase in price
for the Passport coverage is excessive.

Bryan

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