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Author Topic: Is there insurance for a 5Dmk 3?  (Read 1205 times)

cayenne

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Is there insurance for a 5Dmk 3?
« on: April 02, 2012, 02:17:58 PM »
Just curious, is there any way to get your new expensive canon DSLR insured?<P>
Does it fall under homeowners? If you sell any pics (or generate income from it)...would you have to have a business insurance policy for it?<P>
I'm curious...wondering if it is available for such an expensive camera, insuring against things like:
1. Accident (dropped on ground, water)
2. Theft
3. Acts of God (tornado, hurricane hit where it was left)

With this type of investment....I'd be happy to pay a bit of insurance, just in case....also, I'd be wondering what deductible would be...and if it would be new replacement for old?

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Is there insurance for a 5Dmk 3?
« on: April 02, 2012, 02:17:58 PM »

cps_user

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Re: Is there insurance for a 5Dmk 3?
« Reply #1 on: April 02, 2012, 02:31:43 PM »
of course you can insure it. I've added it to my professional insurance on day 1.

chrisdeckard

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Re: Is there insurance for a 5Dmk 3?
« Reply #2 on: April 02, 2012, 02:42:24 PM »
If you don't have a business, you should probably get something like personal articles insurance.  Call your insurance company.  Your home owners or renters insurance may not have enough money for all of your camera gear.
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neuroanatomist

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Re: Is there insurance for a 5Dmk 3?
« Reply #3 on: April 02, 2012, 02:46:02 PM »
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.
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prestonpalmer

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Re: Is there insurance for a 5Dmk 3?
« Reply #4 on: April 02, 2012, 03:13:12 PM »
neuroanatomist, thats right, if you make a penny off your camera, Homeowners insurance is NOT gonna cover you.

As a professional wedding photography, I use MARSH to insure my photography equipment.  $100 deductible!  great service and coverage.

Mt Spokane Photography

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Re: Is there insurance for a 5Dmk 3?
« Reply #5 on: April 02, 2012, 06:12:17 PM »
Talk with your insurance agent.  I tried to add my camera to my policy, but they said it would be covered in full up to $20K.  Every insurance company seems to have their own rules.
 
However, homeowners insurance is not a Warranty / service contract, if it stops working after the warranty is up, you pay.  But, if you accidently drop it into a lake, read your policy first :)
 
Also make sure it is covered if stolen from your car or in a robbery, homeowners may not cover that, and theft from a car is the most likely thing to happen short of a equipment failure.

cayenne

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Re: Is there insurance for a 5Dmk 3?
« Reply #6 on: April 03, 2012, 05:27:01 PM »
Talk with your insurance agent.  I tried to add my camera to my policy, but they said it would be covered in full up to $20K.  Every insurance company seems to have their own rules.
 
However, homeowners insurance is not a Warranty / service contract, if it stops working after the warranty is up, you pay.  But, if you accidently drop it into a lake, read your policy first :)
 
Also make sure it is covered if stolen from your car or in a robbery, homeowners may not cover that, and theft from a car is the most likely thing to happen short of a equipment failure.

Hmm..ok.
I live in the New Orleans area...so, there is theft...and well, there IS a lot of drinking down here, and a camera at a festival could be harmed by someone, or even said photographer (I'm careful, but accidents happen at things like this, but I do want to shoot some of them)...so, the insurance things occurred to me.

I rent, and am recently moved to an area, that State Farm was hesitant to insure, so had to go with the states insurance of last resort...not sure if they would offer anything above my renters insurance of things in my home.

I saw someone mention a company named MARSH...will look that up. Are there any companies that will insure only a camera?

I do hope to make a little $$ off the camera. I do have a company of my own, but is dormant right now, and no insurance with/through it....so not sure who I'd call or contact for that.

Also, the last post made me think of extended warranties. Are they a viable thing to get with a camera of this sort? I've had the Square Deal one on my plasma tv I got..is that worth while to get on a new 5D mk3?

Thanks in advance for all advice!!

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Re: Is there insurance for a 5Dmk 3?
« Reply #6 on: April 03, 2012, 05:27:01 PM »