"Dropping" Insurance
Aug 10, 2012 22:49:55 #
Mike
That is almost 50 years of camera equipment. I have never sold a lens and only one camera body. And still have most of the little gadgets and doodads. Way to much junk and I will probably start getting rid of it soon. Then I can start on all the guns and rifles I have also collected for all these years. And then all the old tools I have gathered up. :) But that is all I have collected thro the years. OH wait,I forgot the lanterns and camping gear. :)
Erv
That is almost 50 years of camera equipment. I have never sold a lens and only one camera body. And still have most of the little gadgets and doodads. Way to much junk and I will probably start getting rid of it soon. Then I can start on all the guns and rifles I have also collected for all these years. And then all the old tools I have gathered up. :) But that is all I have collected thro the years. OH wait,I forgot the lanterns and camping gear. :)
Erv
TNmike wrote:
quote=Erv Hi Mike. I am in good hands. :) Allstat... (show quote)
Aug 11, 2012 00:23:49 #
TNmike wrote:
quote=Erv Jerry, I think he was kidding you. Self... (show quote)
$40,000 divided by $1000 is 40, not 400.
Aug 11, 2012 01:21:12 #
Actually $400 a year for $40,000 of gear seems more accurate. I'm paying about $49 a year to fully cover $2700. It seems to have gone up quite a bit since last year
Aug 11, 2012 06:07:02 #
I have my camera equipment covered for loss breakage drops etc on my home owners but my cost is $500- fo $40K worth of coverage
Aug 11, 2012 06:08:15 #
OK, you guys have convinced me. I'm retired so I need to check my home insurance and maybe upgrade it to cover my photography stuff.
Aug 11, 2012 06:17:37 #
Mogul wrote:
quote=TNmike quote=Erv Jerry, I think he was kid... (show quote)
OOPS! I never was very good at math. :( My annual cost is $75 for coverage of about $7500 worth of equipment. So my cost is about $10 per $1000. TNmike
Aug 11, 2012 06:35:37 #
I bought camera and accessories at B&H totaling $1100 and paid $103 for 3 years of insurance which covers accidental breakage. As long as you don't lose it they will repair or replace. My flash attachment was broken and was replaced.
hr
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Aug 11, 2012 06:37:13 #
ERV:
Why carry collision insurance for old (but not antique) automobile. It is an expense that outlasts the value. Similarly, photography equipment such as film-based cameras and lenses and "doodads" have zero or very little replacement value. Unless it is a Leica or Hasse (heck, a Hasse costing 5,000 dollars in 1990 dollars can be bought for a 1200 dollars today). Other brands,except for an unusually rare camera, haven't held their value at all.
A couple of other points re:insurance. Be sure you have receipts or written appraisals to make a claim for equipment (photos, tools, wife's jewelry,etc.). Photograph or video-tape such items as well. All insurance companies are For Profit or else they become Out-of-Business!
Why carry collision insurance for old (but not antique) automobile. It is an expense that outlasts the value. Similarly, photography equipment such as film-based cameras and lenses and "doodads" have zero or very little replacement value. Unless it is a Leica or Hasse (heck, a Hasse costing 5,000 dollars in 1990 dollars can be bought for a 1200 dollars today). Other brands,except for an unusually rare camera, haven't held their value at all.
A couple of other points re:insurance. Be sure you have receipts or written appraisals to make a claim for equipment (photos, tools, wife's jewelry,etc.). Photograph or video-tape such items as well. All insurance companies are For Profit or else they become Out-of-Business!
Aug 11, 2012 07:01:55 #
Regardless of how or from which company you buy be sure to ask about "business use", i.e.: any selling of your images. In most cases you will void your coverage if you do do sell. Business use INCLLUDES contract jobs for a fee - weddings, gatherings, sports, you name it - that is the doing of the job not just selling the images. Also, when doing the job you lose the liablity coverage that your homeowner's insurance otherwise provides.
Second - the homeowners insurance itself may or may not cover droppage - depends upon two things: 1- if you have "all risk coverage" for personal belongings and the company's application of the policy to the event. You are better off buying a Personal Articles Floater. I'm insuring my D800 for $53.00 a year with Travelers.
Second - the homeowners insurance itself may or may not cover droppage - depends upon two things: 1- if you have "all risk coverage" for personal belongings and the company's application of the policy to the event. You are better off buying a Personal Articles Floater. I'm insuring my D800 for $53.00 a year with Travelers.
Aug 11, 2012 07:03:56 #
I bought the extended warranty through the manufacturer. It cast about $150.00 for 4 years. Already used it. They even repaired the lens. The camera went down a flight of stairs. All they asked me is how did it happen. I basically told them that I was stupid. Other than that, I just have homeowners insurance with a $1,000.00 deductible. That sucks.
Aug 11, 2012 07:07:48 #
Erv wrote:
Hi Mike. I am in good hands. :) Allstate. I have e... (show quote)
Me too, ERV. I am with ALLSTATE! What a wonderful insurance.
Aug 11, 2012 07:59:26 #
jerryc41 wrote:
I'll have to look into that.
:D
gmcase wrote:
It costs exactly the same as the cost of replacement/repair of the equipment damaged. Odd coincidence huh?
:lol:
jerryc41 wrote:
Is it expensive? :D
gmcase wrote:
Yes, it is called "self insured". :lol:
Is it expensive? :D
It costs exactly the same as the cost of replacement/repair of the equipment damaged. Odd coincidence huh?
:lol:
I'll have to look into that.
:D
Self Insured means no insurance at all. You assume financial responsibility if lost, stolen or damaged.
Aug 11, 2012 08:01:08 #
You can get a personal policy. I have one with state farm that covers my computer gear and camera equipment costs me about 70.00 year. I have used it once when mt son twisted my 18-55 lens I two trying to get a reverse ring adapter off it after I cross threaded it.
Aug 11, 2012 08:04:09 #
Well as far as the value of my old gear. I went through it and tried to come up with prices to replace it. It did not come up to a lot. But I have a lot of gear from the old days. And you are right about it being insured. Probably not worth it. But all this stuff was my friend for a long time. :) I do have to take pictures of every thing I have insured. And that goes for the guns too and the other little stuff I collect. Here is a picture taken a few years ago of my AF lenses. I have added 4-5 lenses to this. And I forgot to add, this includes 2 computers and 6 hard drives that I just use for photography.
The folks I deal with through Allstate treat me very good and I have had several claims. And they have taken care of me so I can keep working and not worry about other things. Someone stole my sons car up in Michigan and a new one was in his driveway the next day. Very cool folks.
Erv
The folks I deal with through Allstate treat me very good and I have had several claims. And they have taken care of me so I can keep working and not worry about other things. Someone stole my sons car up in Michigan and a new one was in his driveway the next day. Very cool folks.
Erv
Aug 11, 2012 08:19:04 #
Some years ago my wifey dropped my newish Mamiya 7. It couldn't be repaired. However, our homeowners policy with Chubb paid for a new one. It was listed specifically under our Valuable Articles section of the policy (Chubb is a fine company, by the way).
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