camera equipment insurance - DPChallenge Forums

Canon EF 24-105mm f/4.0L IS

01/05/2006 04:06:50 PM · #1

i just signed up for $5500 in coverage for my camera gear. the coverage is roughly $97.00 per year - not bad considering it will be under a professional heading, and covers breakage due to stupidity as well as other problems. there is no deductable. seems pretty reasonable considering i wouldn't be able to immediately afford a new body & lens if they were to be dropped and broken.

state farm is the insurer.

just thought i'd mention as i had no idea how cheap it actually is for pretty reasonable coverage. a side note they won't cover broken gear under our homeowners policy - theft or fire would be though.

ShutterPug

Canon EOS-6D

01/05/2006 04:11:28 PM · #2

thanks for sharing the info! We have State Farm also, but just the usual homeowners and auto. I think I'll look into this next time I go in the office.

vikas

Apple iPhone 13

Nikon AF-S DX Nikkor 35mm f/1.8G

01/05/2006 04:23:02 PM · #3

I was looking to buy an insurance and havent found anyone yet. I was wondering if your insurance covers international travel as well.

I will soon be travelling to India and was wondering if they would cover it or anyone else you are aware of? No professional use intended.

Gordon

RIM BlackBerry Curve

Canon EF 85mm f/1.8 USM

01/05/2006 04:38:21 PM · #4

Weird, I asked state farm and they said that under no circumstances could they provide professional insurance for camera gear. They particularly wouldn't add it to renters or an inland marine policy. I've had a renters policy with them for several years. I didn't want to add on to that policy as I've heard lots of unpleasant stories where they'd pay out on a claim for camera gear and also cancel the homeowners policy at the same time due to the increased 'risk'

I have my insurance through RAND/ NANPA and it cost me about $500 a year for $10,000 worth of very comprehensive insurance, that covers my camera, laptop, lenses, for theft/ fire/ stupidity etc, in the US and overseas.

It's weird that State Farm in some places will do it and others have very well documented restrictions. Must be a state thing. They covered my camera equipment for non-professional use in the past though, as an personal articles policy.

Message edited by author 2006-01-05 16:46:25.

Neil

Fujifilm X-T30

Nikon AF-S NIKKOR 24-70mm f/2.8G ED

01/05/2006 04:41:14 PM · #5

I was unable to find camera insurance for less than $300/year as long as my gear was not for personal use. I'd like to look into the state farm--but I have a question. Do you already have homeowners insurance with them, or other insurance that this is a "rider" to?

vikas

Apple iPhone 13

Nikon AF-S DX Nikkor 35mm f/1.8G

01/05/2006 04:45:24 PM · #6

Originally posted by nshapiro:

I just called state farm to find out.

They need you to have a renters / homeowners policy before they will cover the camera, they said they won't cover the camera alone.
And for personal use it is $40 per year (including overseas) + the renters

vikas

Apple iPhone 13

Nikon AF-S DX Nikkor 35mm f/1.8G

01/05/2006 04:48:57 PM · #7

My friend suggested this place, they cover camera equipment and for a $1000 worth the policy is $68 per year, no deductible for US only...for overseas minimum coverage is $4000 and its $200 with $200 deductible.

//www.safeware.com/

I guess I will just carry my camera around without insurance and just be extra careful.

shamrock

Nikon D300

Nikon AF Nikkor 50mm f/1.4D

01/05/2006 04:50:19 PM · #8

I just did the same thing a couple days ago. Called to get my youngest son on the car insurance, and wanted to check to make sure the new camera stuff was covered. For us, it would be covered under homeowners but subject to the deductible (10% of the house worth), but she then told me about the "any loss" personal property insurance. $1.13 per $100 covered, which means it's going to cost me roughly $35 for a year's coverage. Covers theft, accidental breakage, pretty much anything. :) Also with State Farm, but mine is not covered as pro, purely hobby gear for now. No deductible with this policy, either.

Edit to note: Gordon, that's strange that they wouldn't cover you. She specifically asked me if i needed professional or hobbyist coverage. My agent is on Bee Caves road.

Message edited by author 2006-01-05 16:54:27.

theSaj

Canon EOS-20D

Canon EF 70-200mm f/2.8L IS USM

01/05/2006 04:53:13 PM · #9

Originally posted by soup:

state farm is the insurer.

Can you please tell me what type of insurance it is, and how you approached it? what requirements? etc.

I really would like such

deapee

Kodak V803

Nikon AF Nikkor 50mm f/1.8D

01/05/2006 05:04:44 PM · #10

I talked with my agent a few months back on the issue...he said he just wrote a policy like that for another lady, and he believed it was $89 per year...I'm with State Farm.

Gordon

RIM BlackBerry Curve

Canon EF 85mm f/1.8 USM

01/05/2006 05:24:27 PM · #11

Originally posted by shamrock69:

Edit to note: Gordon, that's strange that they wouldn't cover you. She specifically asked me if i needed professional or hobbyist coverage. My agent is on Bee Caves road.

I spoke with several state farm representatives and they were all of the same opinion. They'd only cover it if it was used in a full time, professional studio, as part of a business. They wouldn't provide cover for professional usage outdoors or out of a home. I've heard similar comments about State Farm on //sportsshooter.com where a lot of people are looking for similar kinds of cover (i.e., freelance, sports/ news photography type of coverage)

Message edited by author 2006-01-05 17:25:05.

JRalston

Canon EOS-20D

Canon EF 70-200mm f/2.8L IS USM

01/05/2006 06:09:56 PM · #12

I have USAA. We pay $517 a year for 75,000 worth of property insurance which specifically included $10,000 worth of camera and computer gear. (Cameras fall under computer coverage with them). That includes accidental damage.

Jenn

srdanz

Canon EOS-5D Mark IV

Canon EF-S 10-22mm f/3.5-4.5 USM

01/05/2006 06:16:44 PM · #13

Originally posted by Gordon:

Originally posted by shamrock69:
Edit to note: Gordon, that's strange that they wouldn't cover you. She specifically asked me if i needed professional or hobbyist coverage. My agent is on Bee Caves road.

I spoke with several state farm representatives and they were all of the same opinion. They'd only cover it if it was used in a full time, professional studio, as part of a business. They wouldn't provide cover for professional usage outdoors or out of a home. I've heard similar comments about State Farm on //sportsshooter.com where a lot of people are looking for similar kinds of cover (i.e., freelance, sports/ news photography type of coverage)

Interesting... for the companies in the insurance line of business to refuse to insure something.

I insured mine (not as a pro) by adding it to my homeowner's policy. Covers all possible losses, for some $80/year (~$2500 of insured equipment). AllState is the company.

01/05/2006 06:42:37 PM · #14

well these responses are strange - i merely called them - spoke to the rep for our homeowners, and auto insurance, explained that i had a couple grand in gear, with the intent to add to it, and that i wanted a way to insure outside my homeowners policy in case of accidents ( the homeowners would only cover catatrophies, not mishaps ). i specifcally mentioned falling on the hill at stowe resort as something that might cause a claim, and she said if i sat on it, ran it over with my car or whatever that's what the insurance was for. i specifically mentioned that i wasn't sure if it would need to be a professionally lable policy due to the amount of gear, she said it would fall under professional, but didn't ask too many questions about it. i went on to ask what i would need to insure my business, and she i would need to add a liability policy as well.

i didn't ask about overseas travel.

i'll find out the real nity gritty before i sign the paper work on monday. i said to leave the estimate open until then, and i would stop by the office...

01/05/2006 06:45:51 PM · #15

Originally posted by vikas:

They need you to have a renters / homeowners policy before they will cover the camera, they said they won't cover the camera alone.
And for personal use it is $40 per year (including overseas) + the renters

Message edited by author 2006-01-05 18:48:05.

Judi

Canon EOS-5D Mark III

01/05/2006 06:48:31 PM · #16

Can anyone guide me to insurance for photographic equipment in Australia.....pleaaaaaaaaaaase!!

Nikon AF-S DX NIKKOR 18-200mm f/3.5-5.6G ED VR II

01/05/2006 06:55:40 PM · #17

i actually went on with the agent about how i didn't really want a pro policy as of yet - but that i was planning on squaring away all the business details this year, and specifically that i didn't want my computer considered part of a business as of yet ( for fear of getting into tax issues, and higher homeowner rates ). she said i could further insure my computer gear under a separate policy outside my homeowers when the time came. i don't know if doing that would cause issues with the town and taxes, but i think there are likely ways around it.

Nikon D200

01/05/2006 07:56:52 PM · #18

Most homeowners insurance companies will attach a rider to your policy for camera gear just like they would for jewelry. The phrase you want to use is "scheduled." You can schedule lots of things... a gun collection, an art collection, bicycles, etc. It's very common. Rates are generally calculated per $100 or $1000 of coverage, depending on the insurer.

Personal lines insurers will NOT cover professional businesses. You'll need a commercial lines insurer for this. If you called your agent and said you had a professional business on the side, it's likely that they would decline the risk although they should have referred you to another insurer that would help you.

If you do not have an actual business set up, and don't claim photography income as taxable income from a business (claim it under a hobby, instead) then it's likely you would qualify for the above-described schedule/rider.

Scheduling your camera gear means that it's insured for *almost* anything that happens to it. If you just have the personal property replacement cost endorsement on your policy, your coverage is dependent on the 17 named perils (fire, theft, lightning, windstorm, hail, etc.) that all of your other personal property is covered under. The biggest difference is whether the loss occurs away from the residence premises - scheduled items are more likely to be covered no matter where they are when the loss occurs, while unscheduled items are subject to other special limits. An example of this is property used at any time for any business purpose, like a laptop that was stolen from a vehicle. They'll limit your recoverable loss to (if I remember correctly) something around $2500 if it was unscheduled.

Disclaimer: I'm not a licensed insurance agent, I just play one on DPC.

wewillexplore

Canon EOS-1D Mark II

Canon EF 70-200mm f/2.8L IS USM

01/05/2006 08:03:20 PM · #19

our insurance is with //www.hillusher.com in case anyone's still looking and SF won't cover you.

Pioneer

Canon EOS-350D Rebel XT

Sigma 50-500mm f/4.0-6.3 EX DG HSM for Canon EOS

01/05/2006 08:10:34 PM · #20

I was wondering about this yesterday and called my insurance company and all my camera gear is protected for theft no matter the value against, loss, fire, flood Etc. all on my home coverage, I just pay the deductable and get replacement equipment. I don't know if it is different here in Canada than it is from the States. It is nice to know it's covered though