October 25, 2014, 01:38:14 PM

Author Topic: Is your midrange gear insured?  (Read 8433 times)

Marsu42

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Is your midrange gear insured?
« on: February 14, 2013, 02:12:16 PM »
I didn't quite know where to put this question, so it ended up in "lenses" since these are the most expensive items in the bag.

The motive for me thinking about insuring my gear is that I though someone has nicked my 70-300L out of my bag today - but back at home I gladly saw that I didn't take it with me in the first place as I usually do. So: My current gear (camera+lenses+flashes+filters+...) I'm carrying around is worth about €5000, and I'm going to add a 6d+24-70tc totaling about €8000. I bought this gear piece by piece, but somehow it's grown to (for my standard) considerable value, though it's far from the pro 1dx/5d3+f2.8-kits other people have.

Starting as of today I somehow feel that not insuring the stuff but carrying around the greater part of it most of the time is not exactly clever, on the other hand my budget is stretched as it is so I'm wondering if other people insure their "midrange" dslr gear against theft & damage or they consider the real world risk too low to pay for the insurance?

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Is your midrange gear insured?
« on: February 14, 2013, 02:12:16 PM »

RLPhoto

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Re: Is your midrange gear insured?
« Reply #1 on: February 14, 2013, 02:14:17 PM »
I made a point to insure everything. Filters, Softboxes, light stands, the works because those little things stolen at one time add up to a significant amount of $$$$.

florianbieler.de

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Re: Is your midrange gear insured?
« Reply #2 on: February 14, 2013, 02:22:46 PM »
I didn't think much about insurance until I got my 5D3. Shorty before I dropped my 500D by accident with a Tamron 17-50 attached, the latter suffered a 200€ damage which is almost like it totaled.

When I got the 5D3 the first thing was to insure everything, well not everything, body, lenses and flash are insured. Small things like sd cards, batteries and so on are automatically included. I also carry around a rough 7000€ in my camera bag and doing that without insurance is not only stupid but downright irresponsible. Getting nicked is one thing and that can happen to anyone out on a photo trip alone if you cross the wrong peoples way but I also wanted it insured just for the case I accidentally drop it again. That 2.5% of the gear value I pay per year is worth it the second you drop it or someone threatens you.
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Marsu42

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Re: Is your midrange gear insured?
« Reply #3 on: February 14, 2013, 02:30:15 PM »
That 2.5% of the gear value I pay per year is worth it the second you drop it or someone threatens you.

You seem to be German - did you do a survey for the cheapest insurance company, is 2.5%/year the best offer, what company is it? The next step for me would be to search for a company, and I really don't know where to start (again, in Germany).

florianbieler.de

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Re: Is your midrange gear insured?
« Reply #4 on: February 14, 2013, 02:43:43 PM »
They all have similar values. I am at Poepping's.
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awinphoto

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Re: Is your midrange gear insured?
« Reply #5 on: February 14, 2013, 02:46:01 PM »
I would hardly consider the 100L, 70-300L, 17-40L etc as "mid-range", but most definitely (especially since I make my living with  my gear)  We have a commercial policy through allstate which protects up to $5000 i believe on any one claim, so assuming I dont lose my entire kit in a fire, which then likely my homeowners would kick in there or the like, then i'm good.  The 5d3 is my single biggest item, price wise, so i'm comfortable with that.
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Re: Is your midrange gear insured?
« Reply #6 on: February 14, 2013, 02:50:53 PM »
I recently lost my 24-70 f/2.8 L MK II costing $2200 ($60 shipping & $115 customs duty), so I can understand the valuable of insurance to a photographer ... unfortunately the concept of Camera/lens insurance does not exist in the Gulf (I guess it is because 90% of the residents in the Gulf countries are expats who go back to their home countries every year and it would be impractical for insurance companies to curtail fraudulent claims.
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Re: Is your midrange gear insured?
« Reply #6 on: February 14, 2013, 02:50:53 PM »

Rienzphotoz

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Re: Is your midrange gear insured?
« Reply #7 on: February 14, 2013, 02:55:30 PM »
I recently lost my 24-70 f/2.8 L MK II costing $2200 ($60 shipping & $115 customs duty), so I can understand the valuable of insurance to a photographer ... unfortunately the concept of Camera/lens insurance does not exist in the Gulf (I guess it is because 90% of the residents in the Gulf countries are expats who go back to their home countries every year and it would be impractical for insurance companies to curtail fraudulent claims.
Although I checked many places, I have not found anyone providing insurance for camera gear in Qatar ... does anyone here in Canon rumours know of any company providing insurance in Qatar?
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Marsu42

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Re: Is your midrange gear insured?
« Reply #8 on: February 14, 2013, 02:56:10 PM »
They all have similar values. I am at Poepping's.
Thanks!

I would hardly consider the 100L, 70-300L, 17-40L etc as "mid-range"
Well, I concur there are a couple of top range items included (100L, 600rt) but since for every other lens & camera there are cheaper and more expensive offers I consider €5000-8000 still midrange - a 1dx body alone costs that much, not to think of €10k tele primes. But correct me if I'm wrong, I'd happily change my perspective on my gear.

ChilledXpress

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Re: Is your midrange gear insured?
« Reply #9 on: February 14, 2013, 03:58:00 PM »
Is your midrange gear insured?

Low, mid and high... it all gets insured, I make no distinctions regarding replacement of my gear.

Marsu42

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Re: Is your midrange gear insured?
« Reply #10 on: February 14, 2013, 04:18:48 PM »
Low, mid and high... it all gets insured, I make no distinctions regarding replacement of my gear.

Personally, I'd 100% insure my €10k tele prime, I wouldn't do it with all the low tech stuff I'm carrying around like an mp3 player or a gps logger - that's why I was making the distinction. But good I wrote this thread, I come to realize I've invested a lot of €€€ in this during the last 2 years and it's not worth loosing it by accident :-o

DCM1024

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Re: Is your midrange gear insured?
« Reply #11 on: February 14, 2013, 05:01:02 PM »
All of our camera gear is insured by State Farm, but oddly enough, they would not cover my Ipad 4. Apparently that item represents a higher risk than a 5d3!

Caps18

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Re: Is your midrange gear insured?
« Reply #12 on: February 14, 2013, 05:49:45 PM »
I'm trying to get mine insured.  How would you go about getting an appraisal of the current value?

I have about $5,000-$6,000 US, maybe a little more worth of gear, and even though I am low risk, I've come close to having two fires/explosions at my house so far...  Plus the international travel I do, although I usually keep it secure.  But, you never know.
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Re: Is your midrange gear insured?
« Reply #12 on: February 14, 2013, 05:49:45 PM »

Meh

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Re: Is your midrange gear insured?
« Reply #13 on: February 14, 2013, 06:49:36 PM »
I assure you, I always ensure my gear is insured.

ChilledXpress

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Re: Is your midrange gear insured?
« Reply #14 on: February 14, 2013, 08:01:20 PM »
I'm trying to get mine insured.  How would you go about getting an appraisal of the current value?

I have about $5,000-$6,000 US, maybe a little more worth of gear, and even though I am low risk, I've come close to having two fires/explosions at my house so far...  Plus the international travel I do, although I usually keep it secure.  But, you never know.

I had my agent come to my house... she took photos, copies of reciepts, etc... easy as pie! Covered about 60k worth of electronics and gear under a home/buisness policy. They covered my iPads too.
« Last Edit: February 14, 2013, 08:06:52 PM by ChilledXpress »

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Re: Is your midrange gear insured?
« Reply #14 on: February 14, 2013, 08:01:20 PM »