Insuring Photographic Equipment (Page 2): The better the plan, the more you will pay. I have read here of members who have filed a camera claim only to have the premium on their home...

jerryc41 Loc: Catskill Mts of NY

Photomacdog wrote:

I was amazed to find that if I listed each piece of equipment along with it's serial number and price and if I had a receipt for the item, I would be insured for the total value of the item, if it were stolen. I would like to know if this is unusual.

The better the plan, the more you will pay. I have read here of members who have filed a camera claim only to have the premium on their home insurance rise.

Take a look here -

http://www.popphoto.com/how-to/2013/05/how-to-insure-your-camera-gear
http://www.the-digital-picture.com/Photography-Tips/insurance.aspx

Fkaufman3 Loc: Florida, LA ie lower Alabama

Was that Pony electronics outside of Yacoda ab, down from Tachi? Was there 1970

SonyBug

Anandnra wrote:

My State Farm agent sold me a "Personal Articles Policy" outside of my Homeowner's Policy that is supposed to cover (first dollar loss) any kind of loss or damage due to drops etc - worldwide coverage. I provided serial numbers and receipts and it's covered to the extent of what I paid for the gear. Reasonable priced at about $9 per thousand if I remember correctly.

I have that policy and have had two claims. Both paid 100%. Great company and I will keep them for this forever, even though I have USAA for the homeowners.

AzPicLady Loc: Behind the camera!

Most insurance companies don't require receipts and/or serial number to INSURE your camera gear. But they will require ORIGINAL receipts and serial numbers to pay out on them. And, they will do everything in their power to prove that you're in business, so they're "not covered," even with a special rider! And one of their "proofs" of one being a professional is if you own more than one camera or lens or if you have "several periferals" - like filters, flash, etc.

Also, remember they pay on the depreciated value, which is pennies. Don't count on being able to replace anything with their devalued payout. But, yes, if it's on a special rider, they will pay the value stated on the rider minus the deductible.

And, if you ever have a claim, your policy fee will triple for the next year and other insurance companies won't sell you insurance on your gear for a period of time (still not sure how long - they're still denying me and they won't say for how long).

I speak from experience.

peterg Loc: Santa Rosa, CA

nicksr1125 wrote:

Every time I've talked to another insurance company and they find out we're with USAA, they shut up & walk away. Great company, great rates.
If any of you Hogs out there are active duty or honorably separated, enlisted or officer, you're eligible to join.

:thumbup: I have a rider on my USAA policy for my photo gear.
Once I mention USAA, every other insurance sales rep shuts up.
Also, children of USAA members can also insure via USAA. They don't have to be on active duty or vets.

TriX Loc: Raleigh, NC

peterg wrote:

:thumbup: I have a rider on my USAA policy for my photo gear.
Once I mention USAA, every other insurance sales rep shuts up.
Also, children of USAA members can also insure via USAA. They don't have to be on active duty or vets.

Ditto. I also use USAA with a rider for VPP. If you have access to USAA, it is consistently rated at or near the top by almost survey, and their prices are more than competitive. :thumbup: :thumbup:

Dun1 Loc: Atlanta, GA

There are specific companies that specialize in insuring camera equipment, Hiscocks, Hill and Usher. Another option is to join the PPA and your membership includes equipment insurance http://www.ppa.com/

Mark7829 Loc: Calfornia

Photomacdog wrote:

For the past several years I have been in the fort... (show quote)

Yes, I insure my equipment with my homeowners AAA. It is pennies on the dollar in the manner you described as each piece is insure separately and individually. In this manner, there is no deductible or depreciation. My D800E with Nikon 24-70 mm fell into the Pacific on a beach. The D800E could not be repaired but the lens was. AAA covered it all 100% at what I paid for the camera and 100% of the repair.

Bozsik Loc: Orangevale, California

Photomacdog wrote:

For the past several years I have been in the fortunate position to afford a nice camera and six expensive lenses. Do you "Hogs" insure your equipment? I would like to hear about your experiences.

Yes, and it isn't unusual. Don't include it under you regular homeowner's insurance though. It is usually written as a "personal articles" policy.

If you have it under the homeowners insurance, then you will have to pay the deductible - which can be more than a single piece loss.

Mark7829 Loc: Calfornia

Bozsik wrote:

Yes, and it isn't unusual. Don't include it under you regular homeowner's insurance though. It is usually written as a "personal articles" policy.

If you have it under the homeowners insurance, then you will have to pay the deductible - which can be more than a single piece loss.

Noooooooooooooo there is no deductible if you insure each item as an addendum or article to your policy. Read may post above..

BBurns Loc: South Bay, California

markngolf wrote:

I've had a rider on my Liberty Mutual Homeowner's policy for many years. Each time I purchase another piece of equipment, I simply add it to the list........Mark

Same here.
With State Farm I added an 'Electronics & Firearms' rider.
Take a photo of all of your gear & make a list of each item, both model & serial number.

Mark7829 Loc: Calfornia

BBurns wrote:

Same here.
With State Farm I added an 'Electronics & Firearms' rider.
Take a photo of all of your gear & make a list of each item, both model & serial number.

Okay but how do you establish value? AAA required I provide them with an invoice of each item. They were not interested in the serial number.... Better check you coverage amounts. What you may think is covered SSSS is not.

BBurns Loc: South Bay, California

Mark7829 wrote:

Okay but how do you establish value? AAA required I provide them with an invoice of each item. They were not interested in the serial number.... Better check you coverage amounts. What you may think is covered SSSS is not.

I damaged some gear that I could no longer locate a receipt for. I used comparable prices from the web to establish value.
The photos established proof of ownership in my case. S/N's are for the police report in case of theft.

Mark7829 Loc: Calfornia

BBurns wrote:

I damaged some gear that I could no longer locate a receipt for. I used comparable prices from the web to establish value.
The photos established proof of ownership in my case. S/N's are for the police report in case of theft.

Well that is not good. You likely paid more for it than it current value. My insurance covers me at what I paid for it. That is the basis for their rates/charges. Example, I have a 3000 camera and it is insured. In two years it drops to 1500 but my rates are based upon the 3000 initial value. I got 3000 dollars for replacement/compensation not 1500. Under your policy, you get $1500 but that is not what you paid for it and likely over the years your insurance rates did not decline. Someone is taking advantage of you.

BBurns Loc: South Bay, California

Mark7829 wrote:

Well that is not good........... Someone is taking advantage of you.

Not exactly. I did not make myself clear. It's the price I paid for no longer having a receipt. Otherwise I would have been fully compensated.