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| p.1 #1 · p.1 #1 · Suggestions for gear insurancxe (and liability) |
We have collected enough gear to start worrying about insurance. And because we may occasionally use our gear for commercial purposes, relying on our home insurance does not seem to be a good option. So I have been searching online, including here on FM, and I cannot seem to find much info on what the different choices may be, and how they compare in cost and the type of coverage they provide.
I am looking for gear coverage for up to ~$20K of gear (preferably with $250 or less in deductible) as well as basic liability (say, for up to $1M). What is important is that the gear coverage be worldwide, and it be for actual replacement cost (NOT current value), and cover any loss including fire, theft, and any accidental damage. I also want coverage for both myself and my wife.
So what insurance company do you guys use, and how much do you think would be a reasonable annual premium?
Here are couple of options I have found so far:
1) PhotoCare though PPA membership: $327. Unless I pay extra for their PhotoCare Plus, the coverage will only be for $15000, and it is NOT for replacement cost. Plus, it will not cover my wife.
2) Package Choice by Hill & Usher: seems to cover everything I need, but the premium will be ~$550-$600, which I find a bit too high.
3) TCP Insurance: http://www.tcpinsurance.com/photographers/ (don't have much info yet)
4) Pro Photographer Insurance: http://www.prophotographersinsurance.com/ (don't have much info yet)
Would greatly appreciate any guidance and recommendations on this. Thanks...