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The Magic Cafe Forum Index » » The International Brotherhood of Magicians! » » If You Have IBM Insurance, Be SCARED.. This Could Happen To YOU!! (2 Likes) Printer Friendly Version

Magic Tad
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The Short Story: Borrowed a phone to perform a trick at a local show. Dropped and broke the phone. Filed an insurance claim with IBM insurance. Took 23 days to get a response and they are denying an $80 claim. Be afraid if you have IBM insurance, their list of "exclusions" is immense. Don't just ask your agent, mine was sure this would be covered, her words, "this sounds exactly like what should be covered".


The Whole Story: I performed at a show on the grounds of a local garden in their children's section on June 14, 2014. It was a walk around type event where I would get small crowds, do a few tricks and then they would move on to other parts of the garden. One of my standard tricks in this sort of situation is Phone in Balloon. As would be expected, I borrow a phone from an audience member because using my own phone they assume is "rigged" in some way. As we all know, the trick is much more powerful using a borrowed phone. Anyway, I fumbled the phone, it fell and broke the screen. I immediately stopped the show to talk to the phone's owner and she understood. I gave her my info and told her I would contact my insurance on Monday morning (the performance was on a Saturday). This is where it gets scary... while taking my statement the adjuster paused and asked, "was the phone under my control", my response was "what magic trick wouldn't be under my control", at this point I became concerned. He then stated that he would have to check the fine print for a loophole but he believed that the claim would be denied. It has been 23 days since I filed this claim and heard today officially that it will be denied. I have since received a copy of the actual policy and although I would challenge any good lawyer to read and make sense out of this, I will tell you that the list of exclusions is extensive and I have yet to dream up a scenario that would actually be covered by this policy. After many years of paying for this policy this is my first claim and I am terrified to do any more shows as I doubt any claim will be covered. What is something more serious happened? Oh, I forgot to mention, the claim is only for $80, the deductible to have the IPhone screen fixed. I am waiting now for IBM to open to call and find out what is going on. It is my understanding from the agent that I am only the second claim with this "New" company but I am very concerned that IBM knows what they purchased and the exclusions that they agreed to with this new company. As I mentioned, this is my first claim so I don't know what the old policy covered but I would imagine if anyone else was treated this poorly, they would posted that here as well and I did not find any other posts regarding IBM insurance.

Magic Tad
Skip Way
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This is precisely why I stay with Specialty Insurance Agency - 5-Star customer service, fast and full support for a very reasonable annual fee. S.A.M. members also receive a premium discount.
How you leave others feeling after an Experience with you becomes your Trademark.

Magic Youth Raleigh - RaleighMagicClub.org
Magic Tad
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Thanks for the info I will be looking at S.A.M. policy even though I have another year paid on IBM's Policy. Magic Tad
Magic Tad
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The crux of my problem seem to be in borrowing personal property( anything moveable and personal) I.e. phones, rings, glasses, wallets, coins,” Well it’s not like we work with those items at every show right” so you and I are not covered for those items by the policy. Every walk around magician should re think his insurance and maybe get another policy or change his show to avoid all those great tricks using any expensive moveable personal items. Please Beware Magic Tad Smile Smile Smile
Mr. Danny
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North Central Louisiana
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Does anyone have anything positive to say about the I-B-M insurance?
Mr. Danny
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Perhaps the I-B-M should switch to Speciality Insurance Agency as well.
toastmaster8
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Or be better prepared. I don't think IBM has liability insurance for phones. I know they have medical insurance.
Ado
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I am sorry to hear about your financial loss.
On the other hand, this maybe a sign that some tricks, while the look nice, come with a low risk that has a high cost. Example are those where you borrow a phone, or ring flight (say, what if the gem/stone falls off the ring?)
Maybe it's time for you to reconsider your set of effects...

P!
Tim Cavendish
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More insights on IBM insurance having GROUP limits on its payouts over here:

http://www.themagiccafe.com/forums/viewt......forum=36

(ie, if The Amazing Fred burns down the theater he's performing in, that may exhaust the IBM's policy coverage and there will be zero dollars left to cover YOUR mishap.)

Maybe IBM representatives could supply some history on this? Has max policy coverage been reached/exhausted in any of the last X years?
Ba Ba Booey
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Maybe they (IBM) should just make a list of tricks that are not covered (or a list of tricks that ARE covered - would probably be much shorter).
sirbrad
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IBM insurance is BS and a scam much like any other insurance. Everything is great while you are paying and nothing happens but the minute a rare instance occurs it is not covered and you are responsible. I don't use any insurance except the ones I am forced to use like car insurance which also works the same way usually, and the whole deductible thing is also BS. You are better off just saving your money and paying for it yourself should something like this happen than giving to an insurance company. But it sounds about right as you did borrow an item and it was under your control which would put you at fault.

Technically if you are paying for coverage everything should be covered but we know that is not reality. I don't do cell phone magic though as it does not interest me and I rarely borrow anything except money or a ring once in a great while. But never had an issue in over 30 years.
The great trouble with magicians is the fact that they believe when they have bought a certain trick or piece of apparatus, and know the method or procedure, that they are full-fledged mystifiers. -- Harry Houdini
jimhlou
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Sirbrad, I agree with you 100% percent. However, some gigs require a copy of your liability insurance or you don't get hired.

Jim
sirbrad
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I don't encounter those gigs and if I did I would gladly pass. I don't let scam artists make money off of me. I never had any issues in 34 years, so they would have been pretty rich by now if I was the puppet they wanted me to be. There is no danger whatsoever in my act and no one has ever come close to getting injured. So there is no need to pay "scared tax," "just in case."
The great trouble with magicians is the fact that they believe when they have bought a certain trick or piece of apparatus, and know the method or procedure, that they are full-fledged mystifiers. -- Harry Houdini
The Magic Cafe Forum Index » » The International Brotherhood of Magicians! » » If You Have IBM Insurance, Be SCARED.. This Could Happen To YOU!! (2 Likes)
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