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Archive 2012 · How many of you are insured?

edl415
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p.2 #1 · p.2 #1 · How many of you are insured?

skibum5 wrote:
Yeah, in the US at least, this is the way to go, you can like well over 10k coverage for $100 or even less a year, no deductible, equipment covered under any circumstance and you don't risk tying it to car or home insurance and messing that up if stuff happens to your equipment.

Unless you are a pro photographer earning you living from it, then you need something else.

+1

My State Farm personal articles policy covers about $9K of equipment. All-risk (in other words, everything is covered), zero deductible. $84 per year, or roughly 1%. If I make a big equipment purchase then I just send an updated spreadsheet with serial numbers to my agent, they adjust the amount of coverage, and send me a bill for the difference.

Oct 16, 2012 at 10:29 AM

mspencer1
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p.2 #2 · p.2 #2 · How many of you are insured?

I also have a personal article policy with full replacement value and no deductible. This gives me piece of mind especially when traveling.

Oct 16, 2012 at 11:15 AM

RogerC11
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p.2 #3 · p.2 #3 · How many of you are insured?

edl415 wrote:
+1

My State Farm personal articles policy covers about $9K of equipment. All-risk (in other words, everything is covered), zero deductible. $84 per year, or roughly 1%. If I make a big equipment purchase then I just send an updated spreadsheet with serial numbers to my agent, they adjust the amount of coverage, and send me a bill for the difference.

I just called Statefarm and they just gave me a quote of $89 to cover $7.5K in equip with a zero deductible for the whole year...I just scheduled an appointment to meet this weekend for documentation of serial numbers and condition of equipment. I'm going with this policy! Thanks!

Oct 16, 2012 at 07:01 PM

pixelman
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p.2 #4 · p.2 #4 · How many of you are insured?

Consider having your commercial policy and homeowners policy with the same insurance company. I have a home office and rather than two companies try to deny a claim saying it's someone else's turf then this could help.

I recall a story about a Boston insurance company having trouble with windows flying off their highrise and falling into the streets below. Time to sue the installer they thought. Guess what the company was covering the installer

. They decided not to sue themselves. Ironic and poetic.

Oct 16, 2012 at 07:14 PM

finnianp
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p.2 #5 · p.2 #5 · How many of you are insured?

+1 for State Farm. I've been using them with a personal articles policy since 2000 and have had to make 3 claims which have all been very smooth. In fact, a couple weeks ago I slipped on some rocks and my 5d mk 2, 24-70 L, batter grip, and polarizer had impact damage and were briefly submerged in salt water - all of it totally covered.

Oct 16, 2012 at 07:30 PM

RogerC11
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p.2 #6 · p.2 #6 · How many of you are insured?

finnianp wrote:
+1 for State Farm. I've been using them with a personal articles policy since 2000 and have had to make 3 claims which have all been very smooth. In fact, a couple weeks ago I slipped on some rocks and my 5d mk 2, 24-70 L, batter grip, and polarizer had impact damage and were briefly submerged in salt water - all of it totally covered.
So do they cut you a check for the cost of a 5d3 and 24-70II? Or do you get the depreciated value of today's 5dii and 24-70mki?

Oct 16, 2012 at 07:38 PM

Breitling65
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p.2 #7 · p.2 #7 · How many of you are insured?

After getting some "visitors" into my house while I was out with my wife - yes I do! Improved alarm system and video monitoring 24/7 and recording to the cloud added as well

Oct 16, 2012 at 07:41 PM

vsg28
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p.2 #8 · p.2 #8 · How many of you are insured?

^^ Reminds me of the latest SouthPark episode

Oct 16, 2012 at 08:00 PM

Breitling65
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p.2 #9 · p.2 #9 · How many of you are insured?

vsg28 wrote:
^^ Reminds me of the latest SouthPark episode

^^ what are you suggesting instead?

I would also buy some gun but not as easy here in NJ to deal with this. I wish I am in PA or TX

Oct 16, 2012 at 08:09 PM

vsg28
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p.2 #10 · p.2 #10 · How many of you are insured?

lol come over down here and you can find a shotgun in nearly every house here. I guess better safe than sorry though!

Oct 16, 2012 at 08:15 PM

Gunzorro
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p.2 #11 · p.2 #11 · How many of you are insured?

I suppose I have a tiny bit of coverage under our homeowners policy, but doubt it would cover 5%.

Commercial policies are very expensive, and I consider them a poor value the way I manage my equipment.

I had a rider for several years (early 90s) covering my gear (at that time about $15,000) for about $600 per year, IIRC. I gave it up after about three years, realizing I could have bought a couple really nice lenses and maybe a body too for the money I paid.

For 30+ years of photography, I've never had a loss or damage, never dropped equipment, or had anything stolen or caught in a disaster (I did once have cocoa spilled on a camera and it cost $250 to have fixed by Canon

). So, there isn't much point in paying the equivalent cost of all my gear in insurance over the period I've owned it.

To each his own.

Oct 16, 2012 at 08:16 PM

Breitling65
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p.2 #12 · p.2 #12 · How many of you are insured?

vsg28 wrote:
lol come over down here and you can find a shotgun in nearly every house here. I guess better safe than sorry though!

I would if I found job there, I use to be trained as a sniper long time ago and some skills are still remained

Oct 16, 2012 at 08:19 PM

Gunzorro
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p.2 #13 · p.2 #13 · How many of you are insured?

vsg28 wrote:
lol come over down here and you can find a shotgun in nearly every house here. I guess better safe than sorry though!

Ha-ha! Yes, invest in guns and practice as insurance. Keep our camera gear close to our firearms, and then just stay close to both of them.

Oct 16, 2012 at 08:29 PM

gfiksel
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p.2 #14 · p.2 #14 · How many of you are insured?

Insurance is only needed when the loss can ruin you financially (house, health, business) or when is required by law ( new car, etc). . I understand that the financial threshold is different for different people but insuring a few K of equipment? C'mon! What's next, buying AAA and BestBuy 'protection' insurance?

The insurance companies are there to make money, so in average, a customer pays more than he would receive back. Be vigilant, keep your barn door shut, and don't get upset if once in a while you have to pay. You always win in the long run.

Oct 17, 2012 at 07:01 AM

vsg28
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p.2 #15 · p.2 #15 · How many of you are insured?

That statement is very generalized. I would say for camera equipment which are used outdoors in conditions not always in our control, this is very useful. As an add-on item to an existing policy, the cost is at max $1.4 (for non-professionals who have more need of insurance than amateurs like me) per $1000 so that is a LOT of years before the cost of insurance exceeds the item cost.

Oct 17, 2012 at 07:38 AM

markymarc
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p.2 #16 · p.2 #16 · How many of you are insured?

I pay about $100 per $10,000 as a homeowners rider. I choose the lenses and bodies. Not everything I have is insured but in general, any lens or body worth over $1000 each. It makes me sleep easier.

Oct 17, 2012 at 07:53 AM

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