How do most of your insure your gear? Do you tack it on to home owners? Do you get it through the traditional insurance co's, or are their speciality camera insurance co's? Just wonder, as the 5D and 85L I'll be carrying around makes me think I should probably have some. Thanks all.
I don't know about my camera gear, because I didn't look into it yet, but with Allstate this is how my homeowners works.
They said that after so much of a dollar value, they don't cover the items. It depends on the type of item and dollar value. Say, your insurance may have up to 10,000$ jewelry coverage, or 5000$ camera coverage. Anything over that initial amount you have to "schedule" on your insurance. That's where you have the serial number the name and such and possibly a picture of the equipment. Then you have to pay more to schedule it on your insurance.
For my music gear, it was a bit frustrating. Let's say if thehouse burns down my guitar amps and speaker cabs are no longer "musical" equipment, they are "audio/stereo" equipment. You understand what I mean? It was a way around scheduling the items. That said, if you have your lifes work into some lenses and bodies, I'd call your insurance agent asap and see what he can do.
I added a rider to my homeowner’s policy. It increased the coverage for breakage and other problems that I hope I will never have. The equipment cannot be for business use but the price was reasonable. The result is that I take the camera places where I would have been hesitant to take them before. Last week it was a hike with my wife. I fell twice with the camera on my shoulder. I got 200 images that I would not have with only a pocket camera or my camera wrapped in a protective bag.
Just been looking into this myself. As a renter rather than a home owner the insurance companies will absolutely crucify you if you try and tack on a few grands worth of photography equipment. My research has shown that it's far better to get a seperate policy from a specialist photographer insurers.
The specialist guys were suprisingly cheap actually - Well, cheap to insure an amateur with a modest lens collection anyway... Insuring 2 1DSIII's and a stack of L's might be a different matter.
Any suggestions as to who to go with?
I am a renter and between my G.f and I (living together) we have 5 Dslr bodies, 4 L's and a bunch of misc stuff im sure my renters wont cover..
I have state farm, renter's insurance, with a 1.8%/yr student rate all risk coverage on $16k of camera equipment. I've never made a claim, so I can't tell you how smoothly that goes. But theoretically it seems I could purposefully toss my camera in the lake and get a new one.. not sure how that's possible, but that's what they said.
leewoolery wrote:
If you are using this camera for work, you'll need a separate business policy only.
Lee Woolery
Speedshot Action Photography
Lee,
Are you 100% sure? I contacted my agent, just yesterday as luck would have it, and was told I could put a "commercially used equipment" rider on my homeowners policy.
The cost was just under 1% ($97/yr on 10k of gear).
I'm not certain I want to go that route, as I can see definite advantages to keeping home and "business" separate, but I thought it was worth mentioning that it can be done (at least in some cases apparently).
I use Hill & Usher for my business. You can add a rider to your home, but think about it...One claim and your home owners is going to rise, along with your rider. Does this rider cover your liability in case of an accident away from home? If so how much,these are things to consider. I would also check on the acceptable use clause in that policy. It may turn out not to be as good of a deal as you think.
floris wrote:
I have state farm, renter's insurance, with a 1.8%/yr student rate all risk coverage on $16k of camera equipment. I've never made a claim, so I can't tell you how smoothly that goes. But theoretically it seems I could purposefully toss my camera in the lake and get a new one.. not sure how that's possible, but that's what they said.
Curious mind here wants to help you prove your theory on "what they said". I will help you toss your camera into the lake of your choosing if you don't have the guts to do so
Are you 100% sure? I contacted my agent, just yesterday as luck would have it, and was told I could put a "commercially used equipment" rider on my homeowners policy.
The cost was just under 1% ($97/yr on 10k of gear).
I'm not certain I want to go that route, as I can see definite advantages to keeping home and "business" separate, but I thought it was worth mentioning that it can be done (at least in some cases apparently).
Since I make my living as a professional photographer, I have a business policy which runs $500.00 per year...not camera insurance, but a policy which covers my company assets.
If this was just a hobby and I needed to cover my equipment against fire and theft, I'd be covered under a regular homeowners policy....maybe with a rider.
AhrenL wrote:
How do most of your insure your gear? Do you tack it on to home owners? Do you get it through the traditional insurance co's, or are their speciality camera insurance co's? Just wonder, as the 5D and 85L I'll be carrying around makes me think I should probably have some. Thanks all.
the answer to this question may vary depending on whether you need,want or have general liability coverage in addition to equipment coverage.
I have my gear insured through AAA. They also insure my car and home. The policy is included in my home owners policy and under "individual listed items". The rate is 17.50 per 1K. I have about 6K worth of camera stuff insured and a my wife's rings. The premium is high but there is no deductable and any damage or loss is covered.
Go for the insurance. It's very comforting to know that all my stuff is covered.
Your home policy can be in trouble if you claim more than 3 times for your gears.
It's best to get separate insurance for your gears IMO.
I've put in 2 claims already last 12 months and they've sent me a warning letter.
My 35L lens got stolen one time and house broken into another time.
They're all non-weather related claims and can be a problem.
Putting anything on homeowners, scheduled or not, is not without issues... mainly the potential black mark of making a claim and how that might affect your premium, particularly a lot of smallish claims that will potantially flag you as an insurance pest.
Having said that, if you don't travel regularly to exotic locations, don't use stuff for business very much and are not inclined to claim for every $500 lens you drop over the side of a boat, I see no problem in using a household policy.
