New price for camera insurance with State Farm: Last week I had my camera equipment insured thru State Farm and was quoted a price of $1.35 per $100.00. I just received a call from the...

gsconsolvo Loc: Ruidoso, New Mexico

Last week I had my camera equipment insured thru State Farm and was quoted a price of $1.35 per $100.00. I just received a call from the agent that as of March the price is actually $1.65 per $100.00. Still this is a very good policy and is good any where in the world and no deductible.

jimmya Loc: Phoenix

gsconsolvo wrote:

Last week I had my camera equipment insured thru State Farm and was quoted a price of $1.35 per $100.00. I just received a call from the agent that as of March the price is actually $1.65 per $100.00. Still this is a very good policy and is good any where in the world and no deductible.

I'm with State Farm but I haven't asked about insurance.
Is that quote a monthly fee?

gsconsolvo Loc: Ruidoso, New Mexico

jimmya wrote:

I'm with State Farm but I haven't asked about insurance.
Is that quote a monthly fee?

You can set it up for a monthly payment, but I paid for the year. It's an annual policy. So if you had $5000.00 worth of gear, the yearly fee would $82.50. For me it is better than my homeowners policy as there is no deductible. Just give them a list of the equipment with the serial numbers and value, and that's it.

jimmya Loc: Phoenix

gsconsolvo wrote:

You can set it up for a monthly payment, but I paid for the year. It's an annual policy. So if you had $5000.00 worth of gear, the yearly fee would $82.50. For me it is better than my homeowners policy as there is no deductible. Just give them a list of the equipment with the serial numbers and value, and that's it.

Thanks I'll talk with my agent.

nicksr1125 Loc: Mesa, AZ

Most insurance companies offer similar coverage. I'm with USAA. Their coverage is called VPP or Valuable Personal Property Coverage and carries a $50.00 deductible.

TNmike Loc: NW TN

gsconsolvo wrote:

Last week I had my camera equipment insured thru State Farm and was quoted a price of $1.35 per $100.00. I just received a call from the agent that as of March the price is actually $1.65 per $100.00. Still this is a very good policy and is good any where in the world and no deductible.

gsconsolvo, I have the same policy with State Farm. My rates are a little less than yours, likely a regional thing. I haven't been notified of any rate increases yet. For others please note that this is for nonprofessionals and equipment only, in my case anyway. If you are a professional photographer things are much different. TNmike

gsconsolvo Loc: Ruidoso, New Mexico

TNmike wrote:

gsconsolvo, I have the same policy with State Farm. My rates are a little less than yours, likely a regional thing. I haven't been notified of any rate increases yet. For others please note that this is for nonprofessionals and equipment only, in my case anyway. If you are a professional photographer things are much different. TNmike

I am not professional, but I do live in California where it is more expensive than most other parts of the country. Seriously thinking of getting out of here.

Jcmarino

I think I am being taken! I was told by my insurance co. that I can not insure my equipment without liability insc. if I accept money for my photos and/or do events such as portraits or weddings, even if I am not pro status. It was going to cost me over 500/yr. They refused to just add my equip to my homeowners or insure it out right. I better look around to other insc. companies.

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

My insurance company is All State and all of my camera equipment is insured at no additional charge and no deductible. However, when I photographed professionally I had a high rick insurance on my equipment which insured me if my equipment injured someone while I was out on a photo shoot. Now my home owners insurance covers loss if stolen, I gave my agent a list of equipment and serial numbers and the year it was bought (for tax purposes) I also have a flash drive with photo's of all of my equipment. I also have all original sales slips on all of my equipment.

PhotoGator Loc: Florida

What does the policy covers? Does it cover drops, mechanical or just lost?
Thanks for sharing the post, very interesting.

nikonkelly Loc: SE Michigan

the new rate for professionals is $2.40 per $100 of valuation and that is the annual rate and not the monthly rate.

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

My home owners policy covers loss of equipment. My old high risk insurance covered drops but did not cover mechanical, this high risk insurance was very expensive. My current home owners insurance covers loss or theft only and covers it against loss in my home or away from home. In my forty years of photography I have only dropped a camera once, and by the way, in my opinion, all drops are due to pilot error, in other words, if you had been taking your time and being carful, you would not drop a $1000.00 + piece of camera gear. Of course, there will be folks who will reply that it was not their fault. And that my friends, is the problem with todays society. It is always someone elses fault, never mine.

DavidPine Loc: Fredericksburg, TX

I have an APA policy issued by State Farm. It runs $1.40 per hundred. Zero deductible, drops & spills, theft and world wide. There is some comfort knowing I have it.

jonsommer Loc: Usually, somewhere on the U.S. west coast.

Great 'untouched' topic - I'd never even considered insuring my camera gear with a separate policy. Guess what I'm doing today as a result of this post . . . . Thanks

MagicFad Loc: Clermont, FL

PhotoGator wrote:

What does the policy covers? Does it cover drops, mechanical or just lost?
Thanks for sharing the post, very interesting.

I have State Farm, dropped camera and lens, didn't report it for 6 months because I didn't think it was covered. My agent said to report it, so I did. State Farm paid for the repair with no deductible.