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Archive 2013 · Equipment Insurance Question
  
 
DigMeTX
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p.2 #1 · p.2 #1 · Equipment Insurance Question


RJKphoto wrote:
This is from the claim letter. Seems pretty straightforward to me.

"Coverage provided under the PhotoCare plans is excess to any other coverage available to you, which means recovery under this insurance is only available after you have settled with your homeowners, renters or any other applicable insurer. You will need to account for any recovery you receive from your other insurance before we can make an offer under this coverage."

"Supplying documentation from your insurance company showing the amount paid for your photo equipment. The amount of your deductible also needs to be indicated.
If your property insurance does not cover
...Show more


Looks like you just have to jump through the hoop of having your carrier deny your coverage. That stinks but if it were me I guess I'd call my carrier and ask for an expedited denial <?!>.

brad



Apr 08, 2013 at 01:11 PM
DigMeTX
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p.2 #2 · p.2 #2 · Equipment Insurance Question


I'm glad I saw this thread because I was considering joining PPA just for the gear insurance.

brad



Apr 08, 2013 at 01:12 PM
TTLKurtis
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p.2 #3 · p.2 #3 · Equipment Insurance Question


What a load of crap that PPA insurance is.


Apr 08, 2013 at 04:03 PM
paparazzinick
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p.2 #4 · p.2 #4 · Equipment Insurance Question


Is this the same bullshit for the paid PPA insurance? The free wouldnt cover me since I have more gear than the alloted amount. I was thinking of dropping my current insurance and going with the PPA paid insurance. but if I am going to have to maybe one day deal with this bullshit as the free coverage from them, then it is worthless and I may just keep my over priced insurance.



Apr 08, 2013 at 04:06 PM
RJKphoto
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p.2 #5 · p.2 #5 · Equipment Insurance Question


When a company or organization intentionally makes it more difficult to utilize its services in hopes that the extra steps will dissuade me from filing a claim, then that company or organization has lost my business. I called ppa today and the woman told me " well it's disclosed in the insurance certificate" she then wanted to pass me off to lockton affinity. Nowhere on the ppa site covering "photo care" is there any mention that this is secondary insurance.
That's enough for me...
So who's better,Marsh or Hill and Usher, and why?



Apr 08, 2013 at 04:32 PM
amonline
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p.2 #6 · p.2 #6 · Equipment Insurance Question


You guys are waaay off on this...

RJKphoto wrote:
This is from the claim letter. Seems pretty straightforward to me.

"If your property insurance does not cover your photo equipment, you need to provide a copy of the written denial of coverage from your carrier"


Like I said, they are just making sure it is not covered by another company first. Send in the claim. Have your HO indicate they do not cover business gear. It says right there in black and white, "provide a copy of the written denial of coverage from your carrier". If your HO does not cover it, your rates will not change. Tell them you NEED a denial letter.

Pick up a phone already.



Apr 08, 2013 at 04:52 PM
RJKphoto
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p.2 #7 · p.2 #7 · Equipment Insurance Question


I talked to my homeowners carrier. They don't just send out a denial, they have to go through their corporate procedure, which is how it should be. They're not just going to dash of a rejection because I ask for one.


Apr 08, 2013 at 08:47 PM
amonline
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p.2 #8 · p.2 #8 · Equipment Insurance Question


Did you ask them to simply provide a letter stating the lens is not covered under HO insurance? That's all PPA is asking for.


Apr 08, 2013 at 08:54 PM
RJKphoto
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p.2 #9 · p.2 #9 · Equipment Insurance Question


No, that's not what they are asking for, perhaps you don't understand what is meant by secondary insurance. PPA isn't involved at all, it's lockton affinity.


Apr 08, 2013 at 09:37 PM
mjgphotoz
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p.2 #10 · p.2 #10 · Equipment Insurance Question


Any "free" coverage you receive through a membership in any organization is almost always going to be an excess policy. You usually do not fill out a detailed application nor declare a specific list of named items/serial numbers/dates of purchase, etc. It is meant to provide coverage up to the stated amount, subject to the terms, limits and exclusions of the policy, in excess of any other policies you may have, as are all insurance policies by the way. The policy is designed to prevent double coverage, or double dipping as it is referred to. If you have no other coverage it then becomes primary, but you will be asked to document that fact. Most people have homeowner or renter insurance, thus the question. It is also a way of making other insurers aware of the loss and hopefully avoid double payment. If you are running a business, your homeowner's coverage will usually not cover your business related items unless that company also writes business riders, your business is scheduled, and premiums paid for such coverage. If you are a hobbyist, your items are covered subject to the terms and conditions of your homeowner's policy. The actual limits and exclusions may vary widely among individual HO policies. The free coverage will cover per it's terms and conditions any covered loss in excess of other coverages you may have up to it's term limits. You will also be required to document the same information should your separately insured business items (on a named business policy for which you pay premiums) be in your home that is destroyed or damaged by fire/tornado etc or other losses involving both policies. That is how insurance works and how it best deters fraud/multiple claims for the same loss, and the collection of multiple payments for the same loss. This is standard to all insurance coverage, not just the company in question.

Regards,

mjgphotoz



Apr 08, 2013 at 09:46 PM
 

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amonline
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p.2 #11 · p.2 #11 · Equipment Insurance Question


If they are standing adamant on this decision to force you to prove denial through a second policy, it's most likely they feel the peril of damage or breakage is caused by your negligence. This is why you purchase REAL insurance before conducting business.

I've read the policy. I'd still (in your shoes) produce a letter claiming no additional coverage, and force them to prove their policy does not cover the loss. I think you're being too nice to them. The only other thing I can think of is the possibility that you lead them to believe you have additional coverage.



Apr 08, 2013 at 10:42 PM
ricardovaste
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p.2 #12 · p.2 #12 · Equipment Insurance Question


TTLKurtis wrote:
I have Business Equipment, Commercial Auto, Liability / E&O through CNA.

I pay about $285/mo for all that, with upwards of 40k in gear insured and some pretty hefty coverage all-around


Just curious, is that around average in the US? ~$3,360 is a LOT more than what I've paid over here in the UK.



Apr 08, 2013 at 10:51 PM
TTLKurtis
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p.2 #13 · p.2 #13 · Equipment Insurance Question


I don't know what average is but I also have really good coverage so...


Apr 09, 2013 at 01:15 AM
Boss302
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p.2 #14 · p.2 #14 · Equipment Insurance Question


CNA customer here.



Apr 09, 2013 at 02:20 AM
mci2727
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p.2 #15 · p.2 #15 · Equipment Insurance Question


I would also GREATLY encourage anyone trusting in PPA's "Indemnity Trust" to read the fine print on that.
It is NOT malpractice insurance for photographers (that's Errors & Omissions insurance), it is instead a trust of lawyers that will at your beckon call intimidate and pressure your clients to not think of suing even if they have a legitimate claim.
The I.T. does not cover reshoots or anything of the like.

I feel this is always misunderstood.

I'm with Hill & Usher. Never had Marsh so I can't speak to them except to say that I did contact a couple years ago and their CS was very bad so I went with Hill & Usher.
I'm very happy with H&U, have amazing coverage and not bad price ($500/yr, 2mil liability, 12k in gear, 15k in rented/borrowed gear, 75k of true E&O insurance + about 20 more things).
I've talked with 3 photogs that had to file a claim through H&U and they said H&U mail their check hassle free the next day and arranged to get rentals if need be.



Apr 09, 2013 at 02:48 AM
amonline
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p.2 #16 · p.2 #16 · Equipment Insurance Question


PPA is pretty open about E&O. This is why they provide real insurance through a vendor that offers it. That was the case when I chose Marsh.


Apr 09, 2013 at 03:07 AM
D. Diggler
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p.2 #17 · p.2 #17 · Equipment Insurance Question


mci2727 wrote:
amazing coverage and not bad price ($500/yr, 2mil liability, 12k in gear


What's the deductible for theft of gear?



Apr 09, 2013 at 03:23 AM
mci2727
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p.2 #18 · p.2 #18 · Equipment Insurance Question


D. Diggler wrote:
What's the deductible for theft of gear?


It's $250 for theft/damage etc. of gear.
Not 100% sure if that's per occurrence or year, but I think per occurrence.

My deductible for other things like computer equipment (which is not part of gear), medical etc. runs either $250 or $500 depending on what category it is.

There really is far too much coverage to go into here, I'd suggest anyone call them and see what they offer.



Apr 09, 2013 at 04:49 AM
sboerup
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p.2 #19 · p.2 #19 · Equipment Insurance Question


I'm with State Farm and I pay ~$53 a month for 2 million liability, and about $22k of equipment insurance covered anywhere in the world, and regardless of how it was damaged/stolen, with a $250 deductible I think...


Apr 09, 2013 at 03:25 PM
a2rob
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p.2 #20 · p.2 #20 · Equipment Insurance Question


State Farm whom I had auto insurance with for 22 years would not cover my equipment because I was not based out of an studio. I am with Hill & Usher written by The Hartford. I pay around $600.00 a year for about 25k worth of equip. Used them once in the three years when I dropped and busted a rental l a, no problem covering.


Apr 09, 2013 at 03:38 PM
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