Insurance for camera gear (Page 2): I have state farm i have a seperate policy for the camera gear $8000.00 gear is covered for $104.00 ]er year. Does not matter if stolen, dropped...

bob fleer Loc: Annapolis, MD

I have state farm i have a seperate policy for the camera gear $8000.00 gear is covered for $104.00 ]er year. Does not matter if stolen, dropped, fell in the water no matter what. 100% replacement no deductable. Go back and talk to your insurance agent.

gvarner Loc: Central Oregon Coast

Baracuda wrote:

Looking for an effective alternative to my State Farm homeowners policy for covering my camera equipment. I travel some, but over the years, I have accumulated a lot of "stuff" and I thought my last premium was way too high. I live in a safe area, low crime and consider myself and situation "low risk". I have security/fire system, etc. For $50,000 of equipment it was $750 or so. Any ideas to save some money or am I getting a good deal?

I have State Farm also and added their personal property photo equipment policy. About $45 for $3400 worth of stuff. No deductible, no depreciation factored in, repair or replace at purchase price. Easy to add gear, just email the particulars to my agent. Never had to make a claim yet but I'm glad I have it. Cheap if you're an amateur but pro policy is expensive.

donnahde Loc: Newark, DE

All this conversation about denied claims is disconcerting to me. You might try this: http://www.rvnuccio.com/specialty-insurance-products/photographer-insurance/

I had it for a year but never needed to make a claim. Considering re-upping for insurance now so this conversation is of great interest to me. Have had State Farm insurance for cars and houses and never had a problem. As a matter of fact my daughter caused an accident with high claim damages and State Farm paid it all. Of course she was banned from our policy after that but they paid with no problem.

Jwshelton Loc: Denver,CO

Although you may live in a "safer" neighbor, my suspicion is you policy covers the equipment when you travel, in your car and if the equipment is dropped/lost.

Of that $50k of equipment, how much is worth insuring?

Others have suggested alternatives to a Homeowner's rider.
Mine is 1% of the value per year through Country Financial.

Enjoy your photography!

jerryc41 Loc: Catskill Mts of NY

Baracuda wrote:

Looking for an effective alternative to my State Farm homeowners policy for covering my camera equipment. I travel some, but over the years, I have accumulated a lot of "stuff" and I thought my last premium was way too high. I live in a safe area, low crime and consider myself and situation "low risk". I have security/fire system, etc. For $50,000 of equipment it was $750 or so. Any ideas to save some money or am I getting a good deal?

Good article -
http://www.lightstalking.com/camera-insurance/

Greg Brandt Loc: illinois

You may want to double check with Allstate. I'm in the process of insuring my equipment with them. I'm being told that if it's not "scheduled property" then it's not covered when you travel or for accidents (sudden and accidental). just don't want you to be surprised if what they are telling me is correct and you are not aware.

billnikon wrote:

I have all state insurance, My agent has a list of my photography equipment, and it's a higher list than yours and I pay nothing extra for it. It is on my home owners policy, protected against five finger discounts, fire, etc. If I am traveling it is also insured. You may want to talk to an all state insurance company.

Reinaldokool Loc: San Rafael, CA

Baracuda wrote:

Looking for an effective alternative to my State Farm homeowners policy for covering my camera equipment. I travel some, but over the years, I have accumulated a lot of "stuff" and I thought my last premium was way too high. I live in a safe area, low crime and consider myself and situation "low risk". I have security/fire system, etc. For $50,000 of equipment it was $750 or so. Any ideas to save some money or am I getting a good deal?

I just moved my insurance to Liberty Mutual. My renter's policy covers all my camera gear with a $500 deductible. But I'm sure it won't go to $50,000 worth of camera gear.

wj cody Loc: springfield illinois

Reinaldokool wrote:

I just moved my insurance to Liberty Mutual. My renter's policy covers all my camera gear with a $500 deductible. But I'm sure it won't go to $50,000 worth of camera gear.

have had lib mut for 50 years. i've a separate policy for my photograhic equipment. it includes, fire, water, theft, damage, conflict areas. the policy has no depreciation for the equipment. so, if what is lost is not replaceable as new, then i'm reimbursed for the latest iteration of the item lost.
it is pricey, but given where and when i use my equipment, i've no concerns as to what is lost.
it is all a matter of how much and where you use your equipment and the cost of repair/replace.

cambriaman Loc: Central CA Coast

The premium for insurance is directly related to the value you are insuring. You may not need to insure older, less valuable items and certainly not for original purchase price. I have used the rider on my Homeowner's policy with Farmers with replacement value coverage and have have two claims over the years with not a problem. They accepted my word that the replacement was appropriate and all I had to do was furnish original item and replacement item invoices. You do save your invoices. right?

wj cody Loc: springfield illinois

cambriaman wrote:

The premium for insurance is directly related to the value you are insuring. You may not need to insure older, less valuable items and certainly not for original purchase price. I have used the rider on my Homeowner's policy with Farmers with replacement value coverage and have have two claims over the years with not a problem. They accepted my word that the replacement was appropriate and all I had to do was furnish original item and replacement item invoices. You do save your invoices. right?

oh, yes!!!

romanticf16 Loc: Commerce Twp, MI

Baracuda wrote:

Looking for an effective alternative to my State Farm homeowners policy for covering my camera equipment. I travel some, but over the years, I have accumulated a lot of "stuff" and I thought my last premium was way too high. I live in a safe area, low crime and consider myself and situation "low risk". I have security/fire system, etc. For $50,000 of equipment it was $750 or so. Any ideas to save some money or am I getting a good deal?

That is a lot of equipment. Is it a "total loss policy"? Or Depreciated replacement value? As a working pro, collector or hobbyist? Could you insure a $50K car for $750 with no deductible? If you are a Pro Photographer the insurance would be a business expense, yes? Deductable?

NoSocks Loc: quonochontaug, rhode island

I dropped my D600 onto the floor and wasn't sure if there was damage to more than the filter. I called my agent's office and was told I was only covered, under homeowners as scheduled items, for loss from fire and theft. NOT drops and spills which is not what I understood when I bought the rider. Needless to say, I decided to change companies which, a year later, I have yet to do. As it turned out, the damage was only to the filter, so all it cost me was a couple of bucks for a filter wrench. The D600 recently went back to Nikon, so now I have to insure the new D610 that Nikon gave me because of continuing dust and oil. Of course, my only proof of purchase is for the old camera and the serial numbers don't match. This has become a very long post with very little point to it. I recommend you don't read it.

Baracuda Loc: Kentucky

Thanks, but that rate is higher than I got from State Farm!

Baracuda Loc: Kentucky

Thanks for your insight and perspective. I guess my issue is what is true risk I have. I'll do more research

pwrstrkman

Just got a quote from NJ State Farm,For $80,000.00 of personal property,and 300,000 personal liability,a $500.00 deductible for $126.00 a year. It is replacement value, and you do not need the serial numbers of your equipment. That is what I was told by the agent.