April 21, 2014, 02:03:17 AM

Author Topic: Insurance on camera equipment  (Read 3518 times)

GoodVendettaPhotography

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Insurance on camera equipment
« on: April 11, 2013, 11:31:35 AM »
How many of you have insurance on your camera gear? I have reached the point where I'm feeling pretty dumb for not already having something.

Any advice on where to begin my research?

Thanks!
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Insurance on camera equipment
« on: April 11, 2013, 11:31:35 AM »

BrettS

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Re: Insurance on camera equipment
« Reply #1 on: April 11, 2013, 11:34:56 AM »
Call your insurance company.

My comprehensive homeowner policy covers personal possessions including all the camera gear. Even if you rent, you should still protect yourself with home insurance.

neuroanatomist

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Re: Insurance on camera equipment
« Reply #2 on: April 11, 2013, 11:44:58 AM »
Call your insurance company.

My comprehensive homeowner policy covers personal possessions including all the camera gear. Even if you rent, you should still protect yourself with home insurance.

+1, assuming your gear is for personal use only.  If you make money from your photography, be up front about that - your homeowner's/renter's policy probably won't cover business use, you'd need a separate policy that would include liability coverage.

I have a separate personal articles policy for my camera gear, from my home/auto insurer (State Farm).
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Random Orbits

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Re: Insurance on camera equipment
« Reply #3 on: April 11, 2013, 12:43:22 PM »
Call your insurance company.

My comprehensive homeowner policy covers personal possessions including all the camera gear. Even if you rent, you should still protect yourself with home insurance.

+1, assuming your gear is for personal use only.  If you make money from your photography, be up front about that - your homeowner's/renter's policy probably won't cover business use, you'd need a separate policy that would include liability coverage.

I have a separate personal articles policy for my camera gear, from my home/auto insurer (State Farm).

+1.  The rates that each company charges also can vary quite a bit, so it makes sense to get quotes from a few companies just to compare.  My personal articles rate wasn't the cheapest with my insurance company, but another company couldn't beat it when all the insurance policies were quoted (auto, home, etc.).

pierceography

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Re: Insurance on camera equipment
« Reply #4 on: April 11, 2013, 12:49:48 PM »
Call your insurance company.

My comprehensive homeowner policy covers personal possessions including all the camera gear. Even if you rent, you should still protect yourself with home insurance.

Also +1.  I have a separate articles policy that covers all my gear for around $100/year.  However, I will point out that while it's very inexpensive to cover gear this way, I've already decided I won't make a claim against a single lens or camera body unless the cost is above a certain threshold.  Reason being that many insurance companies these days will look for any possible excuse to raise rates.  So making a claim on a $1,000 lens doesn't make much sense if my homeowners rates go up by several hundred dollars a year because of it.

Also make sure your insurance company has gear make/model/serial number on file.  I even have pictures of everything offsite in case of a house fire.
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RGF

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Re: Insurance on camera equipment
« Reply #5 on: April 11, 2013, 01:05:08 PM »
Call your insurance company.

My comprehensive homeowner policy covers personal possessions including all the camera gear. Even if you rent, you should still protect yourself with home insurance.

I have scheduled my gear with state farm.  Cost around $1.25-1.50/$100 of scheduled value.  All risk coverage, including photographer stupidity such as dropping equipment or leaving in the rental car (did the first, not the second yet). Plus is covers 1st $, down side is covers the 1st $.  No deductible.  Also every item needs to be covered, can not get a blanket policy for $25,000 of equipment (without identifying each item).

alexturton

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Re: Insurance on camera equipment
« Reply #6 on: April 13, 2013, 06:03:14 PM »
I made sure my was insured on my home contents insurance. Mine is covered for a 35k claim with a 10k single item limit, UK out and and about possessions cover and also 45 days world wide

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Re: Insurance on camera equipment
« Reply #6 on: April 13, 2013, 06:03:14 PM »

bycostello

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Re: Insurance on camera equipment
« Reply #7 on: April 14, 2013, 04:47:16 AM »
for sure... so often out the house and 'vulnerable'

Sella174

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Re: Insurance on camera equipment
« Reply #8 on: April 17, 2013, 01:58:06 PM »
Read the exclusions. Some time ago I decided to insure my gear and started shopping around. Got good rates and everything, but the fine print excluded basically every reason why I wanted insurance.
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RGF

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Re: Insurance on camera equipment
« Reply #9 on: April 17, 2013, 05:37:26 PM »
Read the exclusions. Some time ago I decided to insure my gear and started shopping around. Got good rates and everything, but the fine print excluded basically every reason why I wanted insurance.

I never read the exclusion but talked to my agent (State Farm) who said the rider basically covers all risks short of war.

I have had 1 claim over 10+ years - I failed to tighten the tripod clamp and the camera and TS fell to the ground. The camera was okay but the lens split into parts.  This happened on the first day of the trip (of course) along the Dempster Highway in the Yukon so I had to wait till I got home to file the claim.  State Farm rep priced the lens for me and sent me a check within a week.  No hassle, great service.

Krob78

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Re: Insurance on camera equipment
« Reply #10 on: April 17, 2013, 05:51:39 PM »
Inland Marine.  It's very affordable and is designed for business that have gear that is used in mobile instances.  Policy allows ad on's and take off's of items you have covered.  So if you sell you're EF 500mm, you can deduct it from the policy for some savings and then add on the new EF 800mm L that you just purchased! 

As with many of the other recomendations here, the premium is based on the value of all the items being covered.  All accidental type of incidents and theft, etc. are covered...
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jeffabbyben

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Re: Insurance on camera equipment
« Reply #11 on: April 17, 2013, 07:28:33 PM »
Just purchased my insurance from Hill and Usher today before reading this post.  Hope I didn't get ripped off as the cost was 1200/year for 53000.00 coverage+liability insurance etc.  Maybe I should have shopped around more with RGF saying 1.25-1.50 for $100 dolllars of coverage and Pierceography saying $100/year. 

RGF

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Re: Insurance on camera equipment
« Reply #12 on: April 17, 2013, 07:38:41 PM »
Just purchased my insurance from Hill and Usher today before reading this post.  Hope I didn't get ripped off as the cost was 1200/year for 53000.00 coverage+liability insurance etc.  Maybe I should have shopped around more with RGF saying 1.25-1.50 for $100 dolllars of coverage and Pierceography saying $100/year.

Keep in mind that I am amateur (and a terrible speller  ::) ) and I only cover equipment, no liability.  For professional use with liability, your price does not sound too bad.

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Re: Insurance on camera equipment
« Reply #12 on: April 17, 2013, 07:38:41 PM »

chrisdeckard

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Re: Insurance on camera equipment
« Reply #13 on: April 17, 2013, 07:58:56 PM »
Insure your gear!  I recently dropped my 5D3 and 70-200 f/2.8 L IS.  Repairs (after platinum CPS discount) were $680.  I have a $100 deductible.  I'm paying about $450 to insure $15,000 worth of gear plus $1,000,000 in liability.  All State Farm needed was me to forward the invoice from CPS.  No other questions, and you don't have to specifically list what equipment you have, so if you buy something new it's automatically covered up to your total amount of coverage.

Like someone else said, if you make money from your gear you'll need a separate policy. 

-Chris
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sleepnever

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Re: Insurance on camera equipment
« Reply #14 on: April 17, 2013, 09:49:54 PM »
I pay a whole $9/mo extra on my homeowner's insurance to insure all my gear, but again, its for personal use.
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Re: Insurance on camera equipment
« Reply #14 on: April 17, 2013, 09:49:54 PM »