My cable converter is insured. It's on the list of "appliances" in my renters insurance. It's called being smart. I don't see what the big deal is, if the house wasn't paid for and got washed away in the flood they'd still have to payoff the loan. If the car wasn't paid for and got washed away in the flood they'd still have to pay off the loan. If they had a bunch of junk from RTO that wasn't paid for and got washed away in the flood they'd still have to payoff the purchase balance. Why shouldn't they have to pay to replace the cable box? Life's hard, get a helmet.
"It's called being smart. I don't see what the big deal is, if the house wasn't paid for and got washed away in the flood they'd still have to payoff the loan."
Doubt it. Most people DO NOT have flood insurance, it's extra, just the same way your house IS NOT covered by acts of war (read that as terrorism).