Camera Insurance
Jul 9, 2014 19:37:31 #
DavidPine
Loc: Fredericksburg, TX
No, I don't but I have considered renting a 10-24 f/2.8 and a 16-35 f/4 just to see what I think about them.
SteveR wrote:
Do you rent??? :lol: :lol: :lol:
Jul 10, 2014 07:02:49 #
After reading all of the reply's and the difference in insurance co. If any of these are categorized as inland marine policy's it might pay to check closer on what is covered.
A friend just had a rude awakening on a Nikon lens he dropped. It was repaired by Nikon and the claim was sent to his insurer, they refused payment because they labeled it breakage.
As for my equipment all of it was purchased from eBay and Craigslist from people I visited with in their homes prior to purchase with cash.
With no receipt other than my eBay records at less than I could replace the items for it makes no sense to buy insurance. I will make a standard claim on my homeowners, get what I can and move on. If I am lucky and a few years pass I will be ahead of the game if not oh well.
DePratt
A friend just had a rude awakening on a Nikon lens he dropped. It was repaired by Nikon and the claim was sent to his insurer, they refused payment because they labeled it breakage.
As for my equipment all of it was purchased from eBay and Craigslist from people I visited with in their homes prior to purchase with cash.
With no receipt other than my eBay records at less than I could replace the items for it makes no sense to buy insurance. I will make a standard claim on my homeowners, get what I can and move on. If I am lucky and a few years pass I will be ahead of the game if not oh well.
DePratt
Jul 10, 2014 07:19:40 #
Nikon_DonB wrote:
I have a 0% deductible rider on my homeowners for Camera equipment, computers and jewelry. It only costs around $180. A really good investment. A couple years ago my wife lost the center(big) stone out of her engagement ring. Insurance covered the whole thing with NO questions asked. They didn't increase the premium either(so far.)
That was a concern expressed on this topic before. If your homeowner's policy covers your cameras, and you file a claim, that could raise the price of the insurance on your home, and it could be a substantial increase. Just reporting what I've read here.
If I ever insure my gear, it will be through a separate policy.
Jul 10, 2014 07:40:22 #
Homeowners insurance covers your equipment home and away, subject to your deductible, for damage caused by the same things that cause damage to your sofa or your coat.
The separate policy, is an Inland Marine policy, which may either be attached to your homeowner policy as a rider or separate. It has no deductible and pays for anything except intentional damage, mechanical breakdown, wear and tear, flood, earth movement.
If your homeowners policy includes replacement Cost - "new for old", that also applied to your camera stuff. The Inland Marine does NOT provide Replacement Cost - it pays the LESSER of the insured amount, cost to repair, cost to replace with equivalent ("used" - like KEH).
NONE of the policies cover if the equipment is used for Business Purposes, i.e.: you hold your images or services using your equipment for sale or rent.
What I've described is the basics, there are variations.
The separate policy, is an Inland Marine policy, which may either be attached to your homeowner policy as a rider or separate. It has no deductible and pays for anything except intentional damage, mechanical breakdown, wear and tear, flood, earth movement.
If your homeowners policy includes replacement Cost - "new for old", that also applied to your camera stuff. The Inland Marine does NOT provide Replacement Cost - it pays the LESSER of the insured amount, cost to repair, cost to replace with equivalent ("used" - like KEH).
NONE of the policies cover if the equipment is used for Business Purposes, i.e.: you hold your images or services using your equipment for sale or rent.
What I've described is the basics, there are variations.
Jul 10, 2014 08:06:19 #
DavidPine wrote:
Mine is with State Farm and the policy is called "APA".
My home and auto is with State Farm. I'm going to give my agent a call and check on it. Thanks for the tip.
Jul 10, 2014 08:17:39 #
Jul 10, 2014 08:30:13 #
DavidPine
Loc: Fredericksburg, TX
As explained by my agent, I can insure almost anything I own provided I can exhibit proof of purchase. It is a separate policy from homeowners. I have been with this specific agency for 35 years and I have never had any problems. They did ask me not to submit very low cost items. I am not limited by amount or number of items but I try to be reasonable. For example: I did not submit my Optech or BlackRapids shoulder straps or backpacks. On high cost items such as a Rolex watch, you have to provide an appraisal.
ssymeono wrote:
Just wondering: how many pieces are covered by this amount?
Jul 10, 2014 08:32:48 #
Jul 10, 2014 08:33:45 #
Jul 10, 2014 08:44:45 #
Mark7829
Loc: Calfornia
DavidPine wrote:
For you amateur photographers who have a significa... (show quote)
I have, and yes I have insured $20,000 of equipment for $200 annually of $1 for every $100 of value. No deductible - 100% It is a cheap cost for piece of mind. Yes, I had to provide proof of purchase, and each item is listed as insured by article. This is different from the umbrella policies which are subject to caps and deductibles. I have AAA as my insurer.
Jul 10, 2014 09:07:26 #
Turbo wrote:
Great idea, I have a choice with ERIE Insurance:
Add my photo equipment to my homeowner policy ( with a $500 deductible)
or have a separate policy with no deductible. I choose that one and it is costing me 1% (per year) of the equipment's worth.
The first option is cheaper but, obviously, does not protect as much.
Add my photo equipment to my homeowner policy ( with a $500 deductible)
or have a separate policy with no deductible. I choose that one and it is costing me 1% (per year) of the equipment's worth.
The first option is cheaper but, obviously, does not protect as much.
Usually it is already covered for theft or accident by your homeowner or renter policy, with a deductible and max amount.
If you list it and pay about 1% of listed value you get no deductible and sometimes replacement cost.
Jul 10, 2014 09:31:07 #
Dave....I did the same think as soon as I started to buy expensive gear/lens/cameras after I retired. I provided the insurance company with all the particulars they need and the coverage had no deductible as well. Price was very reasonable. Now every time I purchase anything over 100 dollars I add it to my log of gear etc. and email it to the insurance people. I carry that list of items in my camera bag as a reference IF something was to happen when I'm on the road. Insurance is just good business practice especially in our field.
Jul 10, 2014 09:48:49 #
Jul 10, 2014 09:51:58 #
What an awesome idea, I am going to Take inventory on all my cameras and computer equipment, ASAP.
Jul 10, 2014 10:05:41 #
Nikon_DonB wrote:
I have a 0% deductible rider on my homeowners for Camera equipment, computers and jewelry. It only costs around $180. A really good investment. A couple years ago my wife lost the center(big) stone out of her engagement ring. Insurance covered the whole thing with NO questions asked. They didn't increase the premium either(so far.)
I had a similar experience a couple years ago. I have similar rider on my house insurance policy for camera equipment. My wife discovered the big stone had fallen out of her engagement ring. She was in tears about the lose, and I told her it covered by the insurance policy. Lucky, she found the stone on the carpeted floor next to the bed. We took the ring back to the jeweler who made the ring. He added two more of those things that hold the stone in place. She original only had four supports for the stone. Now it has six. The jeweler did not charge us for this modification. We have since had the ring appraised in case we are not as lucky next time.
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