Camera Insurance
Feb 23, 2021 09:40:46 #
A. T. wrote:
Fellow hedgehogs, br br I need some assistance w... (show quote)
Talk with your home insurance agent. I have my photo stuff listed on my house insurance. I had to provide photos of each piece and scans of the receipts, but if you aren't doing too much buying and selling that is not a real hardship.
Feb 23, 2021 10:52:56 #
gvarner wrote:
Take a product back to a store and see if you can get the the full price for a refund or the sale price you paid. The purchase price coverage is fair. FMV is also fair...
Indeed. Cameras, with a very few exceptions, do not appreciate in value!
I would never insure anything that I can afford to self insure, and I certainly would not lump it in with home owner's insurance. Insurers can be trigger happy about policy cancellation in some regions. Making claims for any reason can be provocative. If you must insure cameras, do so with a separate company that specializes in such.
Feb 23, 2021 11:45:59 #
A. T. wrote:
Well, I have a sizable investment in DSLRs and lenses and I just think it's wise to protect your investment while it has substantial value. I don't have life insurance because I'm debt-free and nothing that I have outside of my home and autos has enough value to be insured. So, when my camera equipment no longer has what I consider to be monetary value, I will no longer insure the equipment. The very low cost of camera insurance to me is well worth the cost.
I agree with you 100%. The benefit/cost ratio is very high. If it gives you peace of mind do it! I have my camera equipment insured through USAA.
Feb 23, 2021 12:28:44 #
gvarner
Loc: Central Oregon Coast
Bayou wrote:
Indeed. Cameras, with a very few exceptions, do not appreciate in value!
I would never insure anything that I can afford to self insure, and I certainly would not lump it in with home owner's insurance. Insurers can be trigger happy about policy cancellation in some regions. Making claims for any reason can be provocative. If you must insure cameras, do so with a separate company that specializes in such.
I would never insure anything that I can afford to self insure, and I certainly would not lump it in with home owner's insurance. Insurers can be trigger happy about policy cancellation in some regions. Making claims for any reason can be provocative. If you must insure cameras, do so with a separate company that specializes in such.
The State Farm coverage is a stand alone personal property policy. Not expensive if you’re an amateur.
Feb 23, 2021 15:22:54 #
jbk224 wrote:
When you applied for your insurance, did you give them the receipt for this camera?
I did but I want replacement value, not what I paid. I looked for months for this DSLR and only found D4s with 2 to 4 hundred thousand shutter count. When I found the one that I have in mint condition with only 27k shutter count I jumped on it. The camera is easily worth $3200.00.
Feb 23, 2021 15:41:14 #
juan_uy
Loc: Uruguay
Doesn't the amount charged depend on the amount insured? They should let you insure it at the amount that you want.
Feb 23, 2021 17:52:07 #
Be careful if you use the camera for what the insurance companies call "professional use." If so, most homeowner insurance or riders are void. PPA insurance obviously is not but it's more costly than getting a rider on even a USAA policy for "valuable property."
Feb 23, 2021 18:28:01 #
Feb 23, 2021 19:03:07 #
State farm has a product called an "Inland floater", you tell them what you want to insure your "1969 Nikon FTN" for, or your 1970 Smith and Wesson 38 police special, factory nickel, 4" bull barrel revolver, still in the box, never fired, for,. and you pay the premium for the amount of coverage you request. If you have a loss, regardless of cause, they pay you that amount. May not be the same in every state. Insurance is governed state by state.
Feb 23, 2021 21:36:33 #
IDguy
Loc: Idaho
Insurance companies exist for one purpose: so they can make money.
It only makes sense to buy insurance for high magnitude events you couldn’t afford and where statistics support it. Things like home, auto, medical, and if others depend on your income, life. Cameras and all extended warranty offers are losers for you.
Sorry.
It only makes sense to buy insurance for high magnitude events you couldn’t afford and where statistics support it. Things like home, auto, medical, and if others depend on your income, life. Cameras and all extended warranty offers are losers for you.
Sorry.
Feb 23, 2021 21:37:39 #
IDguy
Loc: Idaho
Comphoto wrote:
You wil be paid what is fair market value nothing else
You can insure for agreed value.
Feb 23, 2021 21:39:35 #
IDguy
Loc: Idaho
photoman43 wrote:
I agree with you 100%. The benefit/cost ratio is very high. If it gives you peace of mind do it! I have my camera equipment insured through USAA.
Actually the cost/benefit is very high. If it wasn’t no insurance company would offer it.
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