Insurance for Photography Equipment: I live in CA (don't hold against me) and I would like to insure my camera equipment. I'm an amateur photographer and I plan on taking several...

bkeeler

I live in CA (don't hold against me) and I would like to insure my camera equipment. I'm an amateur photographer and I plan on taking several workshops over the next year or so worldwide. I would like to insure my equipment for damage, theft or just getting it lost or stolen. Is there a company that insures photography equipment for just the cost of replacing your gear. Most of the insurance companies are to protect professional photographers from messing up somebody's wedding pictures!

Thank you in advance for your recommendations and suggestions.

Bruce

nimbushopper Loc: Tampa, FL

If you have homeowner's insurance you can add photo equipment that you have receipts for.

Murray Loc: New Westminster

nimbushopper wrote:

If you have homeowner's insurance you can add photo equipment that you have receipts for.

Yes, that’s what I have. Insured at replacement value.

Gene51 Loc: Yonkers, NY, now in LSD (LowerSlowerDelaware)

nimbushopper wrote:

If you have homeowner's insurance you can add photo equipment that you have receipts for.

That's worthless insurance. Any policy that requires receipts will also depreciate the equipment over time. After 5 yrs they won't reimburse anymore (time may vary by company). Also, the insurance is great until you make a claim - then they raise your rates and/or make it hard to renew. It's not a great idea to merge the two.

Better to work with a company that specializes in insuring camera gear for photographers.

bkeeler

I asked my insurance company what happens if my camera gets stolen out of my car and not my house- they replied- Not covered!

Thanks for the suggestion though!

Bruce

Gene51 Loc: Yonkers, NY, now in LSD (LowerSlowerDelaware)

bkeeler wrote:

I live in CA (don't hold against me) and I would l... (show quote)

Chubb Insurance has a deal with NANPA - (North American Nature Photographers Association) - they "get it" as far as the needs of photographers are concerned. I think you can tailor the policy to your needs, however, gear insurance is usually treated separately from errors and omissions (messing up wedding pics).

sabfish

Gene51 wrote:

That's worthless insurance. Any policy that requires receipts will also depreciate the equipment over time. After 5 yrs they won't reimburse anymore (time may vary by company). Also, the insurance is great until you make a claim - then they raise your rates and/or make it hard to renew. It's not a great idea to merge the two.

Better to work with a company that specializes in insuring camera gear for photographers.

You are simply wrong. I have had a rider on my insurance policies for my cameras for many years. If you insure them at the time of purchase, they do not depreciate the insured value and will pay the insured value or cost of repair several years later. It may be that they will only insure the item's value at the time you purchase the insurance. I have always insured mine at time of purchase.

nimbushopper Loc: Tampa, FL

Gene51 wrote:

That's worthless insurance. Any policy that requires receipts will also depreciate the equipment over time. After 5 yrs they won't reimburse anymore (time may vary by company). Also, the insurance is great until you make a claim - then they raise your rates and/or make it hard to renew. It's not a great idea to merge the two.

Better to work with a company that specializes in insuring camera gear for photographers.

Sounds like you've dealt with some bad insurance companies. Depreciation is a fact of life though, and no company is going to take your word as to the equipment you own.

Indiana Loc: Huntington, Indiana

bkeeler wrote:

I live in CA (don't hold against me) and I would l... (show quote)

Sure, I have Auto Owners Insurance on my home and cars. My home policy is a REPLACENT COST policy that insures my home and contents for their REPLACEMENT VALUE. This covers my camera equipment as well as all personal property including my lawn mower and other items. I have an additional RIDER on my policy listing all my camera equipment as a secondary safeguard at approximately $40.00 per year. If you don't have a replacement policy, see your agent about a rider that covers the camera equipment. Be sure you understand the policy and the extent of the coverage. Agents are there to sell you a policy.

bkeeler

Thank you for that suggestion. I will chat up my agent once again to see if I can get my equipment insured.

Bruce

bkeeler

Thank you! I will check out NANPA.

Bruce

Screamin Scott Loc: Marshfield Wi, Baltimore Md, now Dallas Ga

As a former property and casualty underwriter, I'll second Gene's recommendation. Most Homeowner's policies limit the liability on photo gear unless you have a separate replacement cost rider. Best to ask your agent what happens in case of a loss. Oh, and if the company finds out you shoot commercially (even if you only sell one image) they will deny payment

bleirer

I have a media rider on my homeowners, maybe $20 A year for all no deductible, covers tvs, laptops, tablets, cameras, phones against breakage and theft.

DaveO Loc: Northeast CT

sabfish wrote:

You are simply wrong. I have had a rider on my insurance policies for my cameras for many years. If you insure them at the time of purchase, they do not depreciate the insured value and will pay the insured value or cost of repair several years later. It may be that they will only insure the item's value at the time you purchase the insurance. I have always insured mine at time of purchase.

That has been my experience with AMICA.

AndyH Loc: Massachusetts and New Hampshire

I am responsible for a $30 million real estate portfolio, which includes a lot of equipment. You need more than replacement cost coverage - you need “agreed value” coverage, which adds significantly to the cost, if you want to avoid depreciation. On our policies (which cost nearly $100 k annually) all audio visual equipment would depreciate over five years if you didn’t buy the “agreed value” rider. Insurance is a state regulated business, so your state laws on it will differ. Talk to your agent about this. With or without deductibles, replacement value coverage can be worthless if you have a claim without an agreed value rider.

Andy