"Dropping" Insurance
Aug 11, 2012 08:22:15 #
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
Jerry, I love your sense of humor; it gave me a chuckle this morning.
Aug 11, 2012 08:44:04 #
Tman
Loc: Texas
Check your homeowners policy; depending on what type coverage named peril vs all risk you might have some coverage. Deductible will come into play so no idea on big a repair price tag your looking at.
If your policy does provide coverage may also be a sub limit on such equipment; if you have some big $$ wrapped up in equipment you might be wize to get an increase on the HO policy and/or get a separate policy to cover equipment.
If your policy does provide coverage may also be a sub limit on such equipment; if you have some big $$ wrapped up in equipment you might be wize to get an increase on the HO policy and/or get a separate policy to cover equipment.
Aug 11, 2012 08:50:58 #
Aug 11, 2012 09:22:27 #
You can insure camera, lense, and accessories thru your homeowners policy, usually.. to cover the $5k + value of my equipment it costs $45/year...$100 deductible...
relative cheap when I consider all the traveling we do.
check it out for yourself.
relative cheap when I consider all the traveling we do.
check it out for yourself.
Aug 11, 2012 09:24:36 #
SquareTrade Warranty (squaretrade.com) offers ADH (Accidental Damagae & Handling) coverage for new items NOT bought on eBay (only repair coverage available for those). Relatively inexpensive add-on to extended repair coverage.
I joined Professional Photographers of America specifically for insurance coverage of gear (Up to $15,000 included in membership fee, additional coverage for more $$).
Most, if not all Homeowners policies will cover your gear for a small rider fee, and all of them have a deductible before any coverage kicks in (e.g., you pay the first $500 of a damage claim). Worth checking out because it is so inexpensive for this coverage.
I joined Professional Photographers of America specifically for insurance coverage of gear (Up to $15,000 included in membership fee, additional coverage for more $$).
Most, if not all Homeowners policies will cover your gear for a small rider fee, and all of them have a deductible before any coverage kicks in (e.g., you pay the first $500 of a damage claim). Worth checking out because it is so inexpensive for this coverage.
Aug 11, 2012 10:11:12 #
Check With Your Home Owners Some I Hear Actually Cover Stuff Like Brakege And Theft
Aug 11, 2012 10:12:52 #
Aug 11, 2012 10:27:36 #
Hi Jerry..new to forum. I have $5500 coverage on my equipment and it is $63 per year. Yes, it will cover if I drop it.
Aug 11, 2012 10:33:37 #
BigD
Loc: The LEFT Coast
shih tzu mom wrote:
Hi Jerry..new to forum. I have $5500 coverage on my equipment and it is $63 per year. Yes, it will cover if I drop it.
Another vote for the PPOA, not only does their insurance cover your gear but also your rear. If your shooting a football game at the local high school and someone bangs into your zoom lens (on the field or in the stands) you could end up being sued. I don't know if a rider on your Home Owners policy will cover that but theirs will. And they have a great magazine :thumbup:
Aug 11, 2012 10:59:08 #
Your Homeowners policy covers your camera & gear against certain perils like theft, fire, etc., but does NOT cover against dropping or simple breakage. With most companies, you can add a "camera floater" to your policy (or get a separate policy) to cover your camera equipment WORLD WIDE with a smaller deductible than your Homeowners policy has and it will cover breakage, dropping, etc. Generally, the cost should run $10-$20 per thousand (depending on company) for NON-professional. It's much broader and better coverage than you get with just relying on your Homeowners policy. I'm speaking from the point of a 40+ years in the insurance industry as an agent, underwriter and underwriting manager.
Aug 11, 2012 11:03:42 #
My home owners policy covers all my photo equipment which includes dropping .It costs about $ 165.00 year for $20,000 worth .
A camera on a tripod fell over causing about $ 2,000. damage which my insurance company paid
A camera on a tripod fell over causing about $ 2,000. damage which my insurance company paid
Aug 11, 2012 11:20:31 #
My D5100 came with two year full insurance. I will have to buy new insurance after two years. Covers camera and two lenses. I will have to bring them pieces to mach ## from body and lenses and they will give me new one.
Aug 11, 2012 11:24:56 #
Erv wrote:
Jerry, I think he was kidding you. Self insured means you pay for everything. :) I have a rider on my home insurance that covers everything. Theft, fire, damage. Full replacement or fixed. If you are not a pro it is very cheap. It runs me around $50 a year. I have around $40,000 in gear covered now. That is all my old bodies and lenses too.
Erv
Erv
Yes, this is the type of insurance that covers against damage.
Erv, who insures you? I've got a friend that has had all of his equipment stollen from his car twice now. He recommended that Eric, another friend of mine, get a riders policey. But Monty, whos had he stuff stollen twice, never used his own advise, and used his 'self insured' policy. I guess he's got the money. Anyway, my other friend pays just under 1.5%/year for the equipemnt he has on a riders policy. He's not a home owner and maybe that makes a difference. I thought that was rather expensive.
Aug 11, 2012 11:36:58 #
I got insurance before my trip to Italy. Everything in my siggy is covered and the cost was $104.00 per year and there is no deductible. I specifically asked if it covered my own stupidity, like dropping my camera and they told me it did. Well, I slipped, on a rock in the Forum, and banged my camera on a column. They sent me a check, immediately, to cover the repair.
Aug 11, 2012 12:01:05 #
I think everyone should go out and shop around for your insurance. It takes a little time, but I think from what I am seeing here. It would save some of you money. And that could go towards gear. :) I am not bond to the company I have. They have never sent me a birthday card , or lost much money on me. :) (thank goodness) But I do review the policy every 2 years, and they know I will change companies in a heart beat if I find someone lower with the same coverage. And they are smart enough to drop their price, because they know! Not that I try to cheat them, but money is mone.
erv
erv
If you want to reply, then register here. Registration is free and your account is created instantly, so you can post right away.