Insurance policy renewal help
/forum/topic/1075412/0

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WiLLGT09
Registered: Jan 23, 2009
Total Posts: 452
Country: United States

Hi everyone,

I need at little advice regarding my gear insurance. For the past year, I have been using Hay's Insurance through the NPPA. The initial premium to cover my camera, lenses, laptop and portable hard drive was $479. I thought that it was little steep at that price, but for around $10,000 worth of equipment, plus a default $15K in rental insurance, plus "theft from an unattended vehicle protection", I figured better safe than sorry. This was the first time having insurance on my camera equipment.

It's now about time for me to renew my policy, and they have sent me a quote letter. I have since bought & sold equipment and now my total equipment valuation is at around $13K, but the quote for the new insurance policy is $617. The "theft from an unattended vehicle protection" addition only adds an extra $31 (included in the $617).

Is this price fair/expected, or comparable to other insurance policies? What do other people use? So the other professional photo organizations have better pricing with their respective insurance affiliates? (i.e PPA, ASMP, etc)? Or would I just be better off asking State Farm, which I have for home and auto insurance, for a quote for their Inland Marine Policy?

Thanks!
William



Peter Figen
Registered: Apr 28, 2007
Total Posts: 2874
Country: United States

That seems pretty steep for such a small amount of equipment. It's always a tradeoff between what you want covered and what you can afford. I'm going from memory here, but I think my policy with Tom C. Pickard, covers over $75K plus at least $15K in computer equipment, rentals, worldwide coverage, etc, for about $1300 a year. More than you're paying, but insuring a lot more too. They have a department specializing in photographers and have been doing so for decades. There may be some less expensive options out there, but very few with a better value.



WiLLGT09
Registered: Jan 23, 2009
Total Posts: 452
Country: United States

Do you get Tom C Pickard through a professional society or did you buy it on your own?



Peter Figen
Registered: Apr 28, 2007
Total Posts: 2874
Country: United States

Pickard used to be the official APA carrier, but they haven't been for many years. Most APA members just stayed with them anyhow because they're so good. You don't need any affiliation to insure with them.



Mr Joe
Registered: May 18, 2004
Total Posts: 4040
Country: United States

Sent you some info on my pricing with Tom C Pickard via PM. Best deal I could find for the coverage I need, and they're really nice, too!



Matt OHarver
Registered: Sep 18, 2006
Total Posts: 3918
Country: United States

I've had Hill and Usher insurance for a few years. First year was "cheap" every year since then it's gone up. This is the last year i am staying with them. I'm going shopping to find someone who won't jack my rates every year.



WiLLGT09
Registered: Jan 23, 2009
Total Posts: 452
Country: United States

Great stuff so far everyone. I appreciate the help!



kateman
Registered: Jun 13, 2006
Total Posts: 761
Country: United States

Will,
not ment as a hijack...
but could pm me w/ your thoughts and final decision?
i am just about to re-insure, too.
And...Mr. Joe...would you care to share w/ me, as well?
thanks
B



Alan Goulet
Registered: Nov 24, 2007
Total Posts: 71
Country: United States

I have been using Marsh Affinity Group for the past several years. It would cost about $240 for $10,000 of equipment coverage. It's an "all perils" policy which covers anything not explicitly excluded.

Hope this helps.

Alan



colinm
Registered: Nov 21, 2005
Total Posts: 1949
Country: United States

Taylor & Taylor is the carrier for ASMP's Prosurance, and it's a smoking deal for the coverage they're bundling... but I was incredibly unimpressed with their L.A. office. Pickard's L.A. office, on the other hand, was nothing but warm, friendly, and helpful. Slightly more money with Pickard, but I'd rather work with pleasant people than cranky misplaced New Yorkers.

I've heard nothing but positives about Taylor's main office in NY, but that didn't do me a whole heck of a lot of good as someone living and working in the west.



markedman
Registered: May 02, 2005
Total Posts: 161
Country: United States

I am in the same boat as Matt.
I just cancelled my policy with Hill & Usher.
Was with them for about 5 yrs. No claims.
Was paying around $500 for the year for equipment coverage and simple liability.2012 quote- Premium increased $100 and deductable raised another $100.Just dumb in my opinion.
Generally with insurance car , house , etc.. It has little value. Until you need it. Of course we all want a good price.
But I think that is the more important question. How were you handled when you had a claim?



turbodude
Registered: Oct 21, 2006
Total Posts: 1355
Country: United States

i use usaa with travelers for my business insurance. 2 million in liabilty and $55,000 in insured gear with $25,000 insured gear on location. I pay $515 every 6 months.

I recently had to file a claim, my location scouting gear/cam bag got swiped from my rental car in San Francisco while on a scouting trip to Napa valley and Travelers/Usaa was seamless, i took pictures of the boxes i had, and provided receipts and everything was covered, no hassle no fuss.



mdelrossi
Registered: Jul 07, 2003
Total Posts: 63
Country: United States

If you belong to PPA they are now giving you 15K worth of gear insurance (not liability).
I have Tom C. Pickard for the rental and liability aspect.



rprouty
Registered: Aug 10, 2002
Total Posts: 6800
Country: United States

I have The Hartford...Around $675.00 for $46,500.00 of equipment..$500.00 deductible.



MN_Migrant
Registered: Dec 30, 2010
Total Posts: 157
Country: United States

Interesting about Hill & Usher...I just got a quote from them for $606 annually for the following:

$15k equipment coverage
$1 million/2million general liability
$100k E & O
$10k in computer, office supplies, album, other etc. media
$2k in miscellaneous camera gear

This included a long list of incidentals and a $250 deductible on everything. I feel like its a pretty good value for my policy. They did ding me for living near the coast, but still, I think it was a reasonable quote.

Have you others with Hill & Usher ever made claims in the past?



pjheller
Registered: Jan 24, 2002
Total Posts: 489
Country: New Zealand

The policy with TCP used to be with Fireman's Fund. I just got my renewal and it's with Great American Insurance Co. of NY. They send a 172-page document, and I'm still trying to figure out what's covered and what's not covered. I've emailed TCP -- which has always been great in answering questions -- to see if they can help.

I'm also going to get quotes from Taylor & Taylor, Hill & Usher and Hays. Any other suggestions (I may check with USAA as well).



Mr Joe
Registered: May 18, 2004
Total Posts: 4040
Country: United States

@pjheller - I just got my TCP renewal and it's still Fireman's Fund. Be curious to hear what changed, and how the other quotes look.



Geoffrey Bolte
Registered: Jan 21, 2007
Total Posts: 1309
Country: United States

I've been using Hill & Usher for the last few years. Remember Hill & Usher is just the agent, they should be able to shop around for you. For me insurance is through The Hartford. Of course your premium all depends on previous claims, location, etc. My renewal came up and it has stayed the same the last few years and I had a claim 2 years ago.

Does your policy include liability?? You didn't mention it, but I wouldn't purchase insurance if I wasn't included.



AnthonyRhoades
Registered: Aug 28, 2007
Total Posts: 427
Country: United States

Good thread.

I had Hill & Usher (The Hartford) and was paying a lot more than what it seems you all have been paying ($800+ for not much). Not sure if that was because I lived in Manhattan or what.

Anyway, I let it lapse in the move to Brooklyn and I need to get it again. Going to check out Marsh Affinity and TCP. Anyone else I should look at?

Hmmm. Quick quote from TCP around $1000/year. Seems high.



AnthonyRhoades
Registered: Aug 28, 2007
Total Posts: 427
Country: United States

Update. I got a more reasonable quote from TCP after some back and forth with one of their agents. Pretty sure I'm going with them this time around.



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