Does it fall under homeowners?
Yes, provided you don't sell any pics or generate income from it. If it's strictly a hobby, it can be covered, but not automatically because it will most likely exceed the item and category limits for a standard home policy. Instead, contact your insurer and get the photo gear added (some companies do that as a rider, others as a separate but linked policy - State Farm calls it a personal articles policy, for example, it's the same one as for high-end jewelry, fine art, etc.). I pay $7.60 per $1000 gear per year, no deductible and full replacement value, and everything is covered (theft, loss, damage) worldwide.
If you sell any pics (or generate income from it)...would you have to have a business insurance policy for it?<P>
Yes, in that case you cannot cover it under homeowners, and you'd need a business policy.