Have you ever filed any claims? Would appreciate any feedback. The quote I got from them is ~$550 versus ~$800 with Package Choice by Hill & Usher. I haven't done line by line comparison of their respective policies, but the high-level aspects are similar:
- $1M liability,
- Same total gear value
- $250 deductible
- Coverage for the actual replacement cost (and not the depreciated value)
They also cover rare events (specifically earthquake and flood) but Hill and Usher excludes them. Not big of a deal, but just sayin'. I also find it interesting that, unlike Hill & Usher, they do not seem to ask for an itemized schedule/spreadsheet of gear and their corresponding replacement cost. Again, not a big deal...
I know Hill and Usher is highly regarded but I certainly don't mind saving some $$ on insurance if I can.
So I would appreciate any feedback on these guys or any other potential sources for buying cheap, yet reliable, insurance
Never heard of them, I have The Package from Hill & Usher it is underwritten by The Hartford. Make sure to check it line buy line, errors and omissions should be part of your coverage also. I actually liked having the spreadsheet, I know exactly how many widgets I have to the letter...
I'd recommend getting a quote from TCP insurance. Search the archives - lots of good experiences. I have $2 million liability and $15K in gear coverage for $525/year. http://www.tcpinsurance.com/
Mr Joe wrote:
I'd recommend getting a quote from TCP insurance. Search the archives - lots of good experiences. I have $2 million liability and $15K in gear coverage for $525/year. http://www.tcpinsurance.com/
I have TCP and sort of like them, they can be nitpicky at times but maybe that's good for an insurance company?
Seems like $15k is a low amount for gear, that like 2 cameras and 3 lenses...but I don;t know what you have.
Never heard of them. You should ask who the underwriter is before going forward with it.
TCP and Hill & Usher are both good, but I use Taylor and Taylor. TCP wouldn't issue a policy for me without GL coverage, and Hill & Usher took months of back and forth to get a quote.
I went with Taylor and Taylor because they offered the best price for the large amount of gear I own (100k+), have a good underwriter, were one of the few companies to offer an equipment floater without requiring GL coverage, and are very responsive.
JakeB17 wrote:
Never heard of them. You should ask who the underwriter is before going forward with it.
TCP and Hill & Usher are both good, but I use Taylor and Taylor. TCP wouldn't issue a policy for me without GL coverage, and Hill & Usher took months of back and forth to get a quote.
I went with Taylor and Taylor because they offered the best price for the large amount of gear I own (100k+), have a good underwriter, were one of the few companies to offer an equipment floater without requiring GL coverage, and are very responsive.
They are R.V. Nuccio & Associates Insurance brokers representing Fireman's Fund insurance.
JakeB17 wrote:
Fireman's fund is one of the better ones, so that is a good sign.
Have you spoken with them on the phone or only via email so far?
I had a quick phone call with someone there after which they sent me their 159-page sample policy. What I have a bit of problem with is that:
(a) they don't seem to ask for a schedule of equipment and only ask for a total amount of gear
(b) they don't seem to provide a few page summary of their coverage and exceptions, and I really don't like having to read 159 pages to figure out what is included and what is not, and
(c) I already found one exception that I don't like, and that is "theft from an unlocked car". Not that I will ever leave gear in an unlocked car but I see that kind of an exception a bit strange and as a possible indication of them finding excuses and giving me a hard time in possible future claims.
I have already called Taylor and Taylor too. The initial estimate they gave me on the phone was almost the same as Hill & Usher quote. I am now waiting to receive their more accurate quote.
I was originally with TCP but their prices kept going up with no other changes. I spoke to our local State Farm Agent. I was super critical about the coverage at first and went line by line on comparing the coverage. I was amazed that actually State Farm came out cheaper and better and I have direct monthly withdrawals at no additional cost.
Still have the 2M liability and worldwide coverage on the equipment. I am happy with my switch. To make a claim I would have to come up with a copy of the receipt. That is not a problem as this is my Business.
I am not saying TCP is bad, in fact they are great people to work for. I even told them about State Farm to see if they could adjust the price. They were not but gave me some pointers to ensure I was getting the right coverage with them.
JakeB17 wrote:
This is what I would be worried most about. If you ever have to file a claim they are going to fight you on what you own and what it is worth.
I would be concerned about this as well. I have my insurance with the Hartford Group most likely insured by Hill and Usher. Every time I purchase a new piece of equipment or sell a piece of equipment I up date my inventory for them and they either make an adjustment up or down. I've never negotiated a policy without having to include a schedule of equipment. I'm covered for full loss due to any event and full current replacement as well as travel away from home or the studio. My policy is a lot more than $800 per year but I feel it is better to have then to need.
I don't have a good feeling about RV Nuccio folks for the concerns I mentioned above. I did write them an email listing these concerns and I am yet to receive any reply.
I was leaning towards Hill & Usher but then I saw somewhere at least one person who claimed that Hill & Usher had refused to renew his policy after he had made only one claim for $2000 on a stolen laptop.
I got a quote from Taylor and Taylor. The person there seemed very helpful but their premium seems a bit higher than Hill & Usher. And the quote I had from TCP was also much higher than Hill & Usher.
I have also contacted one State Farm agent and am now waiting to hear back from her.
Brit-007 wrote:
To make a claim I would have to come up with a copy of the receipt. That is not a problem as
I am assuming a Paypal confirmation email would be acceptable as a receipt, right? Because that is the only thing we have for all the gear that we have bought used.
cambyses wrote:
I am assuming a Paypal confirmation email would be acceptable as a receipt, right? Because that is the only thing we have for all the gear that we have bought used.
Don't assume anything. If your inventory has some purchased used gear ask what proof would be needed for a claim.
Some photo equipment insurers are more expensive because the don't drop clients after a claim...but you might see a primeum adjustment.
Do you have a studio/office where you store equipment or is everything at home? This may also determine the policy cost.
When I send my inventory adjustments I always indicate new or used, include serial numbers, and the cost to me; less any shipping fees. I also pay for a repair clause.
For what it's worth, TCP used to use Fireman's Fund but stopped due to too many administrative problems. Even something as simple as changing payment details was a big hassle with Fireman's Fund, and I'm glad I don't have to deal with them anymore.
Beware of any policy that requires a police report for any theft, or that doesn't allow any theft claims if there are no signs of a break in, or that doesn't want an itemized list of equipment and their purchase prices. Also beware of hanging your equipment insurance as a rider on your homeowners ins. Often having one claim against your HO insurance causes your premiums to go up a lot, and having two claims is cause for them to drop you. Ref: State Farm.
Cambyses Wrote:
I am assuming a Paypal confirmation email would be acceptable as a receipt, right? Because that is the only thing we have for all the gear that we have bought used.
I do not see why not. This would be one of the questions to ask. I asked them that if I was on a hill in Yosemite and my body and lens rolled down the cliff would I be covered. They came back confirming it would.
