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 p.1 #2 · PPA Equipment Insurance | |
I have not used PPA insurance for a couple of reasons: 1) Cost of coverage is excessive. It sets a minimum dollar number for insured equipment, and might include other coverage like personal liability that you may not need. 2) You have to be a paid PPA member which essentially delivers nothing unless you are into contests and awards. Other than that, a rider on a homeowner policy will most likely not pay replacement cost. It usually doesn't cover loss or damage to rented equipment either.
Here, in his own words, is a photographer's solution to the best photo equipment coverage:
I purchased a policy through Travelers Insurance, and for only $500/year I receive two-million dollars of liability coverage (per occurance, 4-Million aggregate) and twenty-thousand dollars of equipment coverage at FULL REPLACEMENT value with a $250 deductable!! I compared a LOT of policies...and this one was far and away the best coverage for the money. The best thing about it is, you're NOT required to pay a dime up front...I was issued a binder number as soon as I finished the paperwork. Its has already paid for itself five-times over...my computer died, and I received a check before I even sent in my first premium!!
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