All risk insurance (Page 2): After you buy the "All Risk" policy and have to file a claim, you'll find out what is excluded. :sm02:...

jerryc41 Loc: Catskill Mts of NY

toxdoc42 wrote:

Someone mentioned a form of equipment insurance th... (show quote)

After you buy the "All Risk" policy and have to file a claim, you'll find out what is excluded.

jerryc41 Loc: Catskill Mts of NY

toxdoc42 wrote:

I wrote to USAA and essentially received no answer.

No surprise there. You read the fine print, come to a decision, and later find out that you misinterpreted what you read. I'm not a big fan of insurance. I'm not even sure my life insurance will pay out when the time comes.

billnikon Loc: Pennsylvania/Ohio/Florida/Maui/Oregon/Vermont

toxdoc42 wrote:

Someone mentioned a form of equipment insurance th... (show quote)

When I was shooting weddings professionally I had HIGH RISK INSURANCE (NOT CHEAP) it covered the equipment against everything including liability (in case my tripod fell off the balcony and struck anyone. Again, this was very expensive but I felt it was worth it when I shot professionally.

ReFlections Loc: From LA to AL

There are many designations given by insurance companies for this coverage. It depends on the insurance company. Some designations are: special articles insurance, special articles floaters, special property insurance/floater. Let your insurance company know exactly what you want. All Risk refers to the type of insurance coverage- not necessarily an item. The word All Risk is a disappearing term in the insurance world. All Risk basically means we cover insured property for almost anything. BUT, with insurance companies, there is something called EXCLUSIONS. Three things to consider with any of these policies: 1 What is covered? 2. What is Excluded. 3. Is it written in the policy? Having been an Agent for 25 years, these are the most important questions.

toxdoc42

It probably clearly covers theft and fire, but "all risks?"

saltwaterphil Loc: va beach, va

Most insurance companies have floaters that cover jewelry, guns, cameras, etc. that exceed the basic sublimit in the property form. In most cases you must schedule your valuables specifically as to make model and value. Ask about replacement cost vs actual cash value before buying. Hope this helps.

BboH Loc: s of 2/21, Ellicott City, MD

You can buy "all risk" insurance on specific property, cameras, but there are no policies that will pay for maintenance. Most will pay for a drop.
It all depends upon your insurance company and what it sells.
You can go into the market place and buy specific property insurance - a "floater". If you go searching be sure you understand what you are buying.
Be careful - if you make any money from your endeavors - that is business use and personal policies WILL NOT COVER any of your equipment even if only one camera is used for such.

markngolf Loc: Bridgewater, NJ

I have a scheduled rider on my Liberty Mutual homeowner's policy that covers all my photography equipment. This is a quote from an email inquiry about my coverage:
I’d like to confirm that the each piece of camera equipment scheduled on your policy is covered for up to the full value listed for each item. I’d also like to confirm that your basic deductible is waived if a claim is filed for a loss to your scheduled personal property.
Mark

toxdoc42 wrote:

Someone mentioned a form of equipment insurance th... (show quote)

toxdoc42

That is the usual statement. It doesn't say it will cover damage that you cause, such as dropping a camera. I realize that not specifically saying it won't there may be room for them to cover it. If I don't get a written confirmation of that, I wouldn't count on it. I am pushing USAA to take a stance inwriting!

RickL Loc: Vail, Az

toxdoc42 wrote:

Someone mentioned a form of equipment insurance th... (show quote)

USAA does, but you need a specific rider with your equipment listed.

I have this and as my equipment changes i call and add or delete the specific camera equipment

Rick

RickL Loc: Vail, Az

toxdoc42 wrote:

That is the usual statement. It doesn't say it will cover damage that you cause, such as dropping a camera. I realize that not specifically saying it won't there may be room for them to cover it. If I don't get a written confirmation of that, I wouldn't count on it. I am pushing USAA to take a stance inwriting!

I asked specifically about loss, theft or damage and was told that it would be replaced. Several years ago I dropped my laptop down our stairwell. I received a replacement

Rick

Bill_de Loc: US

toxdoc42 wrote:

That is the usual statement. It doesn't say it will cover damage that you cause, such as dropping a camera. I realize that not specifically saying it won't there may be room for them to cover it. If I don't get a written confirmation of that, I wouldn't count on it. I am pushing USAA to take a stance inwriting!

I worked in insurance claims long enough to draw my pension. The people you talk to on the phone will tell you how they think it works. As mentioned already, most people find out the truth when they put in a claim. It isn't deception, it is incompetence.

The best thing to do if you are not 100% clear after reading every page of your policy is ask to be connected to the claims department. Ask a claim rep how they handle the claims. Policies today do use plain language, but what might look like it is covered on page 7 is excluded on page 17. One of our managers would always say, "The policy giveth, and the policy taketh away".

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akamerica

I was and am the USAA guy. It is the Valuable Personal Property, A Personal Articles Floater. They cover Jewelry, Cameras (lens, tripods, etc.) and guns on my policy and have for >25 years. One incident when my Nikon fell to the driveway on opening the rear door on my SUV. $1850 to repair. They opted to advance almost $2,000 for a new lens and camera. Makes one a believer.

Don't understand your concern about a lack of maintenance. Who would cover long term damage or being worn out from use? This insurance extends to drops, theft, mysterious disappearance, etc. I use the stated item form which has better coverage.

markngolf Loc: Bridgewater, NJ

I'm satisfied with the response I received. All transactions I've had with Liberty Mutual have been more than satisfactory. Perhaps I'm being a bit naive, but I tend to trust people. I think I'm covered for the value of replacing the camera. In my case, the schedule lists the 5D MIII as $3200, the value of the camera when purchased. I supplied copies of all sales receipts for my equipment.
Mark

toxdoc42 wrote:

That is the usual statement. It doesn't say it will cover damage that you cause, such as dropping a camera. I realize that not specifically saying it won't there may be room for them to cover it. If I don't get a written confirmation of that, I wouldn't count on it. I am pushing USAA to take a stance inwriting!

toxdoc42

Your experience is comforting. I do list all of my equipment and they have sales receipts on file. I don't trust insurance companies as far as actually paying for things not specifically listed as covered. The policy does not really state "all risk." I have had good experience with home and auto damages, but those were not in gray areas.