Quote:
|
Originally Posted by leadcounsel
Someone thinking of reloading for PURELY ECONOMIC reasons is, in a sense, doing it for business pursuits, not so much as a hobby.
Businesses always factor in the costs of loss, breakage, insurance and lawsuits, that sort of thing.
|
Okay, let's put that into the equation. As you say, it can be factored in. it's easy enough to do.
My $2,000,000 umbrella policy cost me just under $300 per year.
It covers injuries and judgements attributed to my boats, plane, cars, motorcycles and houses as well as personal negligence (guns - reloads).
What percentage of the $300 do you think we should assign to the reloading?
(Note that historically, the vehicles are at a MUCH higher risk of causing injury.)
My personal thoughts (admittedly with no research) would be 40% cars, 20% plane, 20% boats, 10% motorcycle, and 10% house (primarily because of pool). Since that's 100%, we could make it 38% cars and 2% reloading. In other words, I'm 19 times as likely to need the insurance due to a car accident than a reloading accident. Sounds about right to me, if you have some real data let me know.
I'll add it in tomorrow if I get a chance, but it's not going to make much difference.
We should also assign a percentage of my health insurance payments (injury, loss of limb, loss of eyesight, etc) to the reloads in case I need to use them, but it's paid by my employer. You'll have to put a value on that, it's 0 to me.
We'd need your cost of health insurance, as well as what you believe that the chances would be of you being harmed by a reload if you reloaded. 1 in a 100? 1 in 1,000? 1 in 1,000,000?