We're getting ready for a two week trip to Yellowstone and changed and upgraded some cameras and lenses so I updated the insurance with the Hartford. I have full replacement value with a $500.00 deductible. For $48,760.00 worth of equipment the annual premium is $673.00.
Every now and then I read posts asking where to insure equipment and how much it costs so I posted this to give folks an idea what The Hartford charges. It may be found cheaper elsewhere, I'm to lazy to sharp around.
I use Hill and Usher, $400 a year with, $250 deductible. Nearly $20k in gear. oh and that is with the terrorism option Just in case for those political rallies.
These are the same quotes, more or less, I'm getting. I asked the insurance question over on POTN and a LOT of people say they get their insurance through State Farm at $10/thousand with no deductible. Anyone here have these same results with State Farm?
Usaa-all my gear plus stuff home owners does not cover. 310 per yr, zero deductible. My son was in Paris this summer. Had his g9 taken?! I called, 500.00 in my checking account within 3 hrs. First claim in 3 yrs! Great service !!!
hollywood1053 wrote:
$0 vs $500 deductible is a pretty big deal.
Another vote for State Farm.
BTW - do you have other policies with State Farm?
Yes, my Homeowner's insurance policy. Last claim with State Farm was 40 years ago. Small claim; they paid immediately. I'm the kind of customer that insurance agents dream of.
I have a business policy with State Farm. It gives me insurance coverage on a bunch of crap and covers all sorts of extras.
My coverage for 20 or 25k (it pays to update your policy because just typing this I'm under insured).
It's like 35 or so a month. $500 deductible. Reolace with current. So if my 1div is stolen and its officially discontinued I get an x. If I was using an mk1 70-200 I would get a mk2 as a replacement.
This is where it pays to look at your coverage. You may only pay mid 3k for your camera used but if your policy is like mine, that replacement is $6800.
My insurance agent offered coverage at $1.15/$100 of value per year with no deductible and no cap. However, it could be different if I was a professional, I don't know.
pipspeak wrote:
Anyone have any experience of filing a claim with state farm? After all, any insurance is worthless if the insurer balks at paying up
I've had a State Farm personal articles policy for quite few years at around $1.30 per $1000 of coverage. The policy covers "all perils", including policy holder stupidity, and it has no deductibles. I've only made one claim a couple of years ago. It was processed quickly and paid within days with little effort needed on my part.
Agree Hill & Usher. Coverage is placed through The Hartford. Premium $690.
$500 Deductible/ Replacement cost. $25,485 Scheduled Camera Equipment.
$3000, non-scheduled equipment with $250 deductible. $3000 BPP, 1M/2M
GL, $35,000 per act/$75,000 Aggregate E&O, $50,000 Business Income & Expense,
$15,000 Identity Recovery, $10,000 Personal Property of others (CC&C), and much
more. No bldg coverage as my studio is in home, but this is a complete business pkg.
Please note that your homeowners insurance will not cover business use for either
property or liability. Price was based on professional memberships.
Just updated mine this morning, The Hartford through Hill & Usher. 60k in equipment, 5k in BPP & 17k in Computer Eq. for $880 a year w/ $500 deduct, full replacement.
I am a non-pro and was able to get a personal articles policy through State Farm yesterday for $1.49 per $100 of gear. Zero deductible. They asked for serial numbers and value of equipment. I listed full replacement value for everything, and they did not ask for any type of verification because the premium is based on those declared values. I can also add computers and other valuables to this policy at any time. Seems like a solid deal.
Ill throw in Travelers for the hobbyist. $200 a year for $20K worth of equipment, and you dont even need to have the new equipment listed for 30 days, and they will cover it. (up to 25% of the value of your policy) - dont ask how I know.
If you join NANPA, you can get a policy from RAND. This is a great option for those that are pros and can't get the insurance they need thru their homeowners policy.
An additional data point here: I had Travelers and had to file a ~$2500 claim for theft. Articles covered under my home owners policy. They were not in a hurry to pay up but finally did. Then a month later they added a $200 @ 6 month "loss recovery premium" to my policy. P*ssed doesn't begin to cover my response. Switched to another company.
So for me Travelers is a no-no. I found them very difficult to deal with on a number of issues. (Like they hate old houses.) One of those YMMV things for sure.
Just in case for those political rallies.