Insuring Your Insulin Pump

Dr John
By Dr John Latest Reply 2013-01-04 12:20:36 -0600
Started 2013-01-03 08:44:12 -0600

I have my Animas Ping insulin pump insured with State Farm Insurance for $6,146, which is what is costs. The annual premiums are $553.

Does anyone know of a less expensive insurance program?

John


8 replies

Type1Lou
Type1Lou 2013-01-04 12:20:36 -0600 Report

Here is a link to an article which discusses when and how and who might offer insurance coverage on pumps…I'm still researching whether my own homeowner's insurance will provide coverage or whether I need to/can "schedule" it on a separate rider. A rider would generally offer better coverage but would also cost more than basic HO coverage. I found this article an interesting and quite comprehensive treatment of the "insurance" question. http://www.diabetes24-7.com/?p=1303 (also posting it in the News Articles section)

Type1Lou
Type1Lou 2013-01-03 10:28:17 -0600 Report

Wow Dr John! I worked in the property/casualty insurance industry for 20+ years and never thought about insuring my pump. It makes sense to do so because of the associated costs. Mine was a bit over $7000. I still have some friends working in the industry and may contact them for their input. I will share anything I find out. Have you contacted Animas? They may be able to point you to other alternatives. I may contact Medtronics to see if they have any info on this. Does your State Farm insurance cover your pump against "All risk" or are there limitations and/or exclusions? Is your coverage for full replacement cost or depreciated value? Now I want to check our regular homeowners insurance policy to see if there is any coverage and any limitations if there is coverage. (Not the most stimulating reading!…) Thought provoking post! Thanks!

CJ55
CJ55 2013-01-03 10:50:08 -0600 Report

Hello.. I am not sure if this info helps or not. I had to buy a Tens unit for my back and it was expensive. I kept it in my bathroom under the
Cabinet. I lived in a condo and the upstairs bathroom pipe broke and flooded my bathroom. At the time i had state farm insurance. My Homeowners insurance DID cover the loss of my Tens Unit as well as everything that got wet and ruined. It may cover an insulin pump. I hope this info helps.

Type1Lou
Type1Lou 2013-01-03 11:00:55 -0600 Report

Thanks CJ. I stopped working in insurance back in the 1990's and I suspect that policy language has undoubtedly changed. (Reason I want to check my own HO policy) Glad to hear that your insurance covered your loss. I suspect that Dr John has a special rider on his policy to cover a specific value for his pump…usually covers against all risks, although, some exclusions may apply… need to read that fine print and hope to understand it!

maldoli
maldoli 2013-01-03 17:10:30 -0600 Report

Hi. I would like to know if that kind of insurance
is available for a Medtronic Minimed Pump

CJ55
CJ55 2013-01-03 11:17:32 -0600 Report

You are very welcome. I have had numerous things covered by my insurance that I didnt think would be covered. You never know unless you ask. My wheelchair is covered as well. Have a great day.

Dr John
Dr John 2013-01-03 10:42:08 -0600 Report

It is insured against all loss or damage. I'm confident that if I didn't insure the pump, I will drop it on my tile kitchen floor and break it.

John