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Archive 2012 · Insurance policy renewal help

WiLLGT09
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p.1 #1 · Insurance policy renewal help

Hi everyone,

I need at little advice regarding my gear insurance. For the past year, I have been using Hay's Insurance through the NPPA. The initial premium to cover my camera, lenses, laptop and portable hard drive was $479. I thought that it was little steep at that price, but for around $10,000 worth of equipment, plus a default $15K in rental insurance, plus "theft from an unattended vehicle protection", I figured better safe than sorry. This was the first time having insurance on my camera equipment.

It's now about time for me to renew my policy, and they have sent me a quote letter. I have since bought & sold equipment and now my total equipment valuation is at around $13K, but the quote for the new insurance policy is $617. The "theft from an unattended vehicle protection" addition only adds an extra $31 (included in the $617).

Is this price fair/expected, or comparable to other insurance policies? What do other people use? So the other professional photo organizations have better pricing with their respective insurance affiliates? (i.e PPA, ASMP, etc)? Or would I just be better off asking State Farm, which I have for home and auto insurance, for a quote for their Inland Marine Policy?

Thanks!
William

Jan 10, 2012 at 02:49 AM

Peter Figen
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p.1 #2 · Insurance policy renewal help

That seems pretty steep for such a small amount of equipment. It's always a tradeoff between what you want covered and what you can afford. I'm going from memory here, but I think my policy with Tom C. Pickard, covers over $75K plus at least $15K in computer equipment, rentals, worldwide coverage, etc, for about $1300 a year. More than you're paying, but insuring a lot more too. They have a department specializing in photographers and have been doing so for decades. There may be some less expensive options out there, but very few with a better value.

Jan 10, 2012 at 05:47 AM

WiLLGT09
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p.1 #3 · Insurance policy renewal help

Do you get Tom C Pickard through a professional society or did you buy it on your own?

Jan 10, 2012 at 01:03 PM

Peter Figen
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p.1 #4 · Insurance policy renewal help

Pickard used to be the official APA carrier, but they haven't been for many years. Most APA members just stayed with them anyhow because they're so good. You don't need any affiliation to insure with them.

Jan 10, 2012 at 03:40 PM

Mr Joe
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p.1 #5 · Insurance policy renewal help

Sent you some info on my pricing with Tom C Pickard via PM. Best deal I could find for the coverage I need, and they're really nice, too!

Jan 10, 2012 at 07:01 PM

Matt OHarver
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p.1 #6 · Insurance policy renewal help

I've had Hill and Usher insurance for a few years. First year was "cheap" every year since then it's gone up. This is the last year i am staying with them. I'm going shopping to find someone who won't jack my rates every year.

Jan 10, 2012 at 07:04 PM

WiLLGT09
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p.1 #7 · Insurance policy renewal help

Great stuff so far everyone. I appreciate the help!

Jan 10, 2012 at 07:35 PM

kateman
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p.1 #8 · Insurance policy renewal help

Will,
not ment as a hijack...
but could pm me w/ your thoughts and final decision?
i am just about to re-insure, too.
And...Mr. Joe...would you care to share w/ me, as well?
thanks
B

Jan 10, 2012 at 09:12 PM

Alan Goulet
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p.1 #9 · Insurance policy renewal help

I have been using Marsh Affinity Group for the past several years. It would cost about $240 for $10,000 of equipment coverage. It's an "all perils" policy which covers anything not explicitly excluded.

Hope this helps.

Alan

Jan 11, 2012 at 02:18 AM

colinm
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p.1 #10 · Insurance policy renewal help

Taylor & Taylor is the carrier for ASMP's Prosurance, and it's a smoking deal for the coverage they're bundling... but I was incredibly unimpressed with their L.A. office. Pickard's L.A. office, on the other hand, was nothing but warm, friendly, and helpful. Slightly more money with Pickard, but I'd rather work with pleasant people than cranky misplaced New Yorkers.

I've heard nothing but positives about Taylor's main office in NY, but that didn't do me a whole heck of a lot of good as someone living and working in the west.

Jan 11, 2012 at 03:34 AM

markedman
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p.1 #11 · Insurance policy renewal help

I am in the same boat as Matt.
I just cancelled my policy with Hill & Usher.
Was with them for about 5 yrs. No claims.
Was paying around $500 for the year for equipment coverage and simple liability.2012 quote- Premium increased $100 and deductable raised another $100.Just dumb in my opinion.
Generally with insurance car , house , etc.. It has little value. Until you need it. Of course we all want a good price.
But I think that is the more important question. How were you handled when you had a claim?

Jan 13, 2012 at 04:20 PM

turbodude
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p.1 #12 · Insurance policy renewal help

i use usaa with travelers for my business insurance. 2 million in liabilty and $55,000 in insured gear with $25,000 insured gear on location. I pay $515 every 6 months.

I recently had to file a claim, my location scouting gear/cam bag got swiped from my rental car in San Francisco while on a scouting trip to Napa valley and Travelers/Usaa was seamless, i took pictures of the boxes i had, and provided receipts and everything was covered, no hassle no fuss.

Jan 19, 2012 at 04:13 PM

mdelrossi
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p.1 #13 · Insurance policy renewal help

If you belong to PPA they are now giving you 15K worth of gear insurance (not liability).
I have Tom C. Pickard for the rental and liability aspect.

Jan 19, 2012 at 06:02 PM

rprouty
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p.1 #14 · Insurance policy renewal help

I have The Hartford...Around $675.00 for $46,500.00 of equipment..$500.00 deductible.

Jan 22, 2012 at 03:23 PM

MN_Migrant
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p.1 #15 · Insurance policy renewal help

Interesting about Hill & Usher...I just got a quote from them for $606 annually for the following:

$15k equipment coverage
$1 million/2million general liability
$100k E & O
$10k in computer, office supplies, album, other etc. media
$2k in miscellaneous camera gear

This included a long list of incidentals and a $250 deductible on everything. I feel like its a pretty good value for my policy. They did ding me for living near the coast, but still, I think it was a reasonable quote.

Have you others with Hill & Usher ever made claims in the past?

Jan 23, 2012 at 02:44 AM

pjheller
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p.1 #16 · Insurance policy renewal help

The policy with TCP used to be with Fireman's Fund. I just got my renewal and it's with Great American Insurance Co. of NY. They send a 172-page document, and I'm still trying to figure out what's covered and what's not covered. I've emailed TCP -- which has always been great in answering questions -- to see if they can help.

I'm also going to get quotes from Taylor & Taylor, Hill & Usher and Hays. Any other suggestions (I may check with USAA as well).

Jan 24, 2012 at 05:54 AM

Mr Joe
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p.1 #17 · Insurance policy renewal help

@pjheller - I just got my TCP renewal and it's still Fireman's Fund. Be curious to hear what changed, and how the other quotes look.

Jan 25, 2012 at 01:18 AM

Geoffrey Bolte
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p.1 #18 · Insurance policy renewal help

I've been using Hill & Usher for the last few years. Remember Hill & Usher is just the agent, they should be able to shop around for you. For me insurance is through The Hartford. Of course your premium all depends on previous claims, location, etc. My renewal came up and it has stayed the same the last few years and I had a claim 2 years ago.

Does your policy include liability?? You didn't mention it, but I wouldn't purchase insurance if I wasn't included.

Jan 25, 2012 at 01:27 AM

AnthonyRhoades
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p.1 #19 · Insurance policy renewal help

Good thread.

I had Hill & Usher (The Hartford) and was paying a lot more than what it seems you all have been paying ($800+ for not much). Not sure if that was because I lived in Manhattan or what.

Anyway, I let it lapse in the move to Brooklyn and I need to get it again. Going to check out Marsh Affinity and TCP. Anyone else I should look at?

Hmmm. Quick quote from TCP around $1000/year. Seems high.

Jan 25, 2012 at 03:24 AM

AnthonyRhoades
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p.1 #20 · Insurance policy renewal help

Update. I got a more reasonable quote from TCP after some back and forth with one of their agents. Pretty sure I'm going with them this time around.

Jan 25, 2012 at 11:05 PM

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