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AhrenL
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p.1 #1 · Insurance

How do most of your insure your gear? Do you tack it on to home owners? Do you get it through the traditional insurance co's, or are their speciality camera insurance co's? Just wonder, as the 5D and 85L I'll be carrying around makes me think I should probably have some. Thanks all.

Mar 29, 2008 at 12:04 PM

RobertLynn
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p.1 #2 · Insurance

I don't know about my camera gear, because I didn't look into it yet, but with Allstate this is how my homeowners works.

They said that after so much of a dollar value, they don't cover the items. It depends on the type of item and dollar value. Say, your insurance may have up to 10,000$ jewelry coverage, or 5000$ camera coverage. Anything over that initial amount you have to "schedule" on your insurance. That's where you have the serial number the name and such and possibly a picture of the equipment. Then you have to pay more to schedule it on your insurance.

For my music gear, it was a bit frustrating. Let's say if thehouse burns down my guitar amps and speaker cabs are no longer "musical" equipment, they are "audio/stereo" equipment. You understand what I mean? It was a way around scheduling the items. That said, if you have your lifes work into some lenses and bodies, I'd call your insurance agent asap and see what he can do.

Mar 29, 2008 at 01:01 PM

AhrenL
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p.1 #3 · Insurance

I have my wife's engagement ring insured in this way. Which is why I'm wondering if people put it on their homeowners insurance or not.

Mar 29, 2008 at 01:10 PM

leewoolery
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p.1 #4 · Insurance

If you are using this camera for work, you'll need a separate business policy
only.

Lee Woolery
Speedshot Action Photography

Mar 29, 2008 at 01:24 PM

mweddle
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p.1 #5 · Insurance

On my homeowners, it is a $500 deductible, but I took out an extra policy on my camera stuff.

Mar 29, 2008 at 02:07 PM

R Schwarz
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p.1 #6 · Insurance

I added a rider to my homeowner’s policy. It increased the coverage for breakage and other problems that I hope I will never have. The equipment cannot be for business use but the price was reasonable. The result is that I take the camera places where I would have been hesitant to take them before. Last week it was a hike with my wife. I fell twice with the camera on my shoulder. I got 200 images that I would not have with only a pocket camera or my camera wrapped in a protective bag.

Richard

Mar 29, 2008 at 02:36 PM

Mike Farren
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p.1 #7 · Insurance

Just been looking into this myself. As a renter rather than a home owner the insurance companies will absolutely crucify you if you try and tack on a few grands worth of photography equipment. My research has shown that it's far better to get a seperate policy from a specialist photographer insurers.

The specialist guys were suprisingly cheap actually - Well, cheap to insure an amateur with a modest lens collection anyway... Insuring 2 1DSIII's and a stack of L's might be a different matter.

Mar 29, 2008 at 03:30 PM

kodakeos
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p.1 #8 · Insurance

Any suggestions as to who to go with?
I am a renter and between my G.f and I (living together) we have 5 Dslr bodies, 4 L's and a bunch of misc stuff im sure my renters wont cover..

Mar 29, 2008 at 03:36 PM

floris
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p.1 #9 · Insurance

I have state farm, renter's insurance, with a 1.8%/yr student rate all risk coverage on $16k of camera equipment. I've never made a claim, so I can't tell you how smoothly that goes. But theoretically it seems I could purposefully toss my camera in the lake and get a new one.. not sure how that's possible, but that's what they said.

Edited on Mar 29, 2008 at 05:54 PM

Mar 29, 2008 at 05:53 PM

AhrenL
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p.1 #10 · Insurance

So is that 1.8% of the total insured value per year?

Mar 29, 2008 at 06:10 PM

mbellot
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p.1 #11 · Insurance

leewoolery wrote:
If you are using this camera for work, you'll need a separate business policy
only.

Lee Woolery
Speedshot Action Photography

Lee,

Are you 100% sure? I contacted my agent, just yesterday as luck would have it, and was told I could put a "commercially used equipment" rider on my homeowners policy.

The cost was just under 1% ($97/yr on 10k of gear).

I'm not certain I want to go that route, as I can see definite advantages to keeping home and "business" separate, but I thought it was worth mentioning that it can be done (at least in some cases apparently).

Mar 29, 2008 at 06:27 PM

sivrajbm
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p.1 #12 · Insurance

I use Hill & Usher for my business. You can add a rider to your home, but think about it...One claim and your home owners is going to rise, along with your rider. Does this rider cover your liability in case of an accident away from home? If so how much,these are things to consider. I would also check on the acceptable use clause in that policy. It may turn out not to be as good of a deal as you think.

Mar 29, 2008 at 07:28 PM

Canon 10D
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p.1 #13 · Insurance

Just kidding !!!

Edited on Mar 29, 2008 at 07:41 PM

Mar 29, 2008 at 07:37 PM

leewoolery
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p.1 #14 · Insurance

mbellot wrote:
leewoolery wrote:
If you are using this camera for work, you'll need a separate business policy
only.

Lee Woolery
Speedshot Action Photography

Lee,

Are you 100% sure? I contacted my agent, just yesterday as luck would have it, and was told I could put a "commercially used equipment" rider on my homeowners policy.

The cost was just under 1% ($97/yr on 10k of gear).

I'm not certain I want to go that route, as I can see definite advantages to keeping home and "business" separate, but I thought it was worth mentioning that it can be done (at least in some cases apparently).

Since I make my living as a professional photographer, I have a business policy which runs $500.00 per year...not camera insurance, but a policy which covers my company assets.

If this was just a hobby and I needed to cover my equipment against fire and theft, I'd be covered under a regular homeowners policy....maybe with a rider.

Lee Woolery
Speedshot Action Photography

Edited on Mar 29, 2008 at 08:43 PM

Mar 29, 2008 at 08:41 PM

bka20d
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p.1 #15 · Insurance

AhrenL wrote:
How do most of your insure your gear? Do you tack it on to home owners? Do you get it through the traditional insurance co's, or are their speciality camera insurance co's? Just wonder, as the 5D and 85L I'll be carrying around makes me think I should probably have some. Thanks all.

the answer to this question may vary depending on whether you need,want or have general liability coverage in addition to equipment coverage.

Mar 29, 2008 at 09:10 PM

brad_s
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p.1 #16 · Insurance

I have my gear insured through AAA. They also insure my car and home. The policy is included in my home owners policy and under "individual listed items". The rate is 17.50 per 1K. I have about 6K worth of camera stuff insured and a my wife's rings. The premium is high but there is no deductable and any damage or loss is covered.

Go for the insurance. It's very comforting to know that all my stuff is covered.

Mar 29, 2008 at 09:13 PM

floris
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p.1 #17 · Insurance

AhrenL wrote:
So is that 1.8% of the total insured value per year?

yep.

Mar 29, 2008 at 09:26 PM

Me_XMan
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p.1 #18 · Insurance

Your home policy can be in trouble if you claim more than 3 times for your gears.
It's best to get separate insurance for your gears IMO.
I've put in 2 claims already last 12 months and they've sent me a warning letter.
My 35L lens got stolen one time and house broken into another time.
They're all non-weather related claims and can be a problem.

Mar 29, 2008 at 09:59 PM

jdaily
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p.1 #19 · Insurance

A question best asked on the pro forum. If you search for insurance on that board, you'll find many similar threads.

Mar 29, 2008 at 10:05 PM

pipspeak
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p.1 #20 · Insurance

Putting anything on homeowners, scheduled or not, is not without issues... mainly the potential black mark of making a claim and how that might affect your premium, particularly a lot of smallish claims that will potantially flag you as an insurance pest.

Having said that, if you don't travel regularly to exotic locations, don't use stuff for business very much and are not inclined to claim for every $500 lens you drop over the side of a boat, I see no problem in using a household policy.

Mar 30, 2008 at 03:39 AM

hosebag
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p.1 #21 · Insurance

I have a separate policy from a different company than my homeowner's insurance.
My camera is insured through State Farm and I have two cameras, four lenses, accessories, etc. (around 5K) for $49.00/year.

Mar 30, 2008 at 03:45 AM

hallbert
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p.1 #22 · Insurance

My policy with Allied Insurance has an endorsement that lists my camera equipment with no deductible.

This is an added coverage to my home owner insurance - a Scheduled Personal Property Coverage Endorsement.

I am paying $288 per year for $20,400 and my equipment is listed by manufacturer, model numbers and serial numbers with an "agreed amount" of coverage. I update the list as I buy and sell equipment.

I dropped my camera case at the California Speedway. My 30D with lens and my SD550 were both damaged. The company sent the equipment to Canon in Irvine and paid 100% of the repairs (over $700). They did NOT raise my rates.

My basic home owner policy will cover the total amount of my camera equipment for normal causes of loss. This will not cover dropping equipment like happened to me at the Speedway. The extra cost endorsement did.

I agree with pipspeak that this type of insurance is not for a lot of smallish claims and I am sure most companies would non-renew a policy if you took advantage of this coverage.

I have only submitted one claim on my policy and I was very happy that I had the insurance when they paid the $700+ repair bill.

Edited on Mar 30, 2008 at 04:22 AM

Mar 30, 2008 at 04:18 AM

Duncan Gibson
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p.1 #23 · Insurance

floris wrote:
I have state farm, renter's insurance, with a 1.8%/yr student rate all risk coverage on $16k of camera equipment. I've never made a claim, so I can't tell you how smoothly that goes. But theoretically it seems I could purposefully toss my camera in the lake and get a new one.. not sure how that's possible, but that's what they said.

No you can't. Although some property insurance policies are "all losses" and cover carelessness (I took my Camera windsurfing!), insurance policies never cover intentional losses (arson committed by the insured obviously disqualifies the insured from recovering from the insurer).

So don't "purposefully" throw your camera in the lake. If you do something really dumb like taking the camera windsurfing, expect to have a hard time proving your claim (which, also brings up the point for everybody with personal property floater riders on their home policies -- keep all your receipts, preferably in a place that won't burn if your home does, because if the cameras are stolen or destroyed beyond all recognition, you still have to prove that you owned them and what they were worth).

Oh. here's another point. Presumptively, insurance policies cover lost property for the actual cash value of the item (ie resale). It is possible to purchase replacement value insurance, but this typically costs a lot more.

Mar 30, 2008 at 04:57 PM

MSC
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p.1 #24 · Insurance

leewoolery wrote:
mbellot wrote:
leewoolery wrote:
If you are using this camera for work, you'll need a separate business policy
only.

Lee Woolery
Speedshot Action Photography

Lee,

Are you 100% sure? I contacted my agent, just yesterday as luck would have it, and was told I could put a "commercially used equipment" rider on my homeowners policy.

The cost was just under 1% ($97/yr on 10k of gear).

I'm not certain I want to go that route, as I can see definite advantages to keeping home and "business" separate, but I thought it was worth mentioning that it can be done (at least in some cases apparently).

Since I make my living as a professional photographer, I have a business policy which runs $500.00 per year...not camera insurance, but a policy which covers my company assets.

If this was just a hobby and I needed to cover my equipment against fire and theft, I'd be covered under a regular homeowners policy....maybe with a rider.

Lee Woolery
Speedshot Action Photography

Lee, what insurance company?

Mar 30, 2008 at 05:02 PM

hallbert
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p.1 #25 · Insurance

Normally your personal property (contents in your home) is insured for "replacement cost" if the loss is a covered peril. The Scheduled Personal Property Coverage Endorsement changes this from a covered peril to any cause of loss with named exceptions and will list these exceptions on the endorsement.

The company will pay a depreciated value until you actually replace the item or they might buy a "like" item for you. If you don't replace the item you only get the depreciated value.

A Scheduled Personal Property Coverage Endorsement is an agreed value for each item listed. For jewelry, the companies will want a receipt or an appraisal. In my experience with several companies they have not asked for an appraisal on camera equipment and when I dropped my equipment they did not ask for receipts. The companies will take a recorded statement so the thought of “throwing the camera in a lake” would not be a good idea.

We once had a claim where a chicken plucked a diamond earring out of a woman’s ear. The woman spent a week looking through chicken **** from her 30+ chickens trying to find her diamond. When she finally called me I turned the claim in to the company and they took her statement. Since she had her jewelry covered on the Scheduled Personal Property Coverage Endorsement they replaced the diamond earring to match the one she had left.

My advice is to insure what you can’t afford to loose and be honest when something does happen.

Mar 30, 2008 at 05:18 PM


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