Post
Topic
Board Mining (Altcoins)
Re: Refused from more than 20 insurance companies in Quebec for home crypto mining!
by
JayDDee
on 15/01/2022, 21:07:00 UTC
you said computer hardware so I am assuming it is GPU mining. for insurance you don't tell them it is for mining you tell them computer hardware. Most businesses in the financial sector will turn you away because of mining. They see the crypto space as a threat to there existence.

That's where insurance companies get you both ways. If you disclose too much you pay super high premiums if you can get
any coverage, but if you don't disclose they'll cover you based on your disclosure. There's almost an incentive for insurance
companies to play dumb so they can collect premiums knowing they can claim failure to disclose and deny any pay out.

What it comes down to is do you want real insurance or just a piece of paper that says you have insurance?