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10/30/2008 09:35:34 AM · #1 |
| Just putting this out there in case someone has experience with it. I was looking into insuring my cameras and lenses against damage and loss (outside of a homeowner's policy) - I've heard that such things exist, but two places I've called so far stopped just short of snorting derisively at my request to insure "just photo equipment" - apparently they only do furs and jewelry :) Anyway, am I imagining things? Do such policies exist? What are members here doing with the insurance-side of their hobby/business, if they're doing anything at all? Who do you use? |
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10/30/2008 09:39:44 AM · #2 |
I'm curious to hear the response to this as well, since I'm in the position of wanting to insure my gear as well in the near future.
I'm pretty sure that the PPA (Professional Photographers of America) offers insurance to their members - I think they have a deal with one of the providers that's designed just for photogs. I don't know any details, but I got a letter about it from them a few years back trying to get me interested, and at the time I wasn't.
What kind of places have you tried calling? Specialty insurance houses, or general ones like Allstate, etc? I can't imagine they'd snort at you - just shows their ignorance, since for many of us, our photo gear is worth more than our cars ;-)
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10/30/2008 09:47:27 AM · #3 |
i have a policy outside and seperate from our homeowners insurance - through state farm. we have other insurance with them as well.
i insured $6000 in camera equipment for around $80/year.
it's called a 'personal articles policy' or something to that effect.
this covers damage or destruction from just about any cause. theft, loss, etc. pretty much anything. of course i haven't made a claim yet - sdo i don't how much trouble they give you when you do..
i provided a list of what i wanted to insure with serial numbers, and the value i paid for it. i even have the camera bag on there...
one main reason i explained i wanted the insurance was we were travelling to europe, and the over seas travel didn't affect their coverage either.
i can also add more gear if/when i purchase it, and the premium would go up slightly.
the only catch was the stuff can't be used 'professionally' ie: to make lots of money...
Message edited by author 2008-10-30 09:50:15.
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10/30/2008 09:52:02 AM · #4 |
Why does it have to be outside a home owners policy? I have a rider(HO61 Scheduled personal property)that's attached to my home owners policy. It's like $125/yr for about the $9,000-10,000 worth of stuff I have. No deductible and it covers theft or damage.
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10/30/2008 09:54:22 AM · #5 |
because if you claim on that rider it will potentially affect your homeowners coverage. i would highly recommend not using a rider type policy.
Message edited by author 2008-10-30 09:54:43.
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10/30/2008 09:55:38 AM · #6 |
We got all of our equipment as well as our GPS, Ipod and laptop insured for our recent trip to London, England. Not sure the total value of the equipment but the cost of the insurance was about $60 a year. That was a rider attached to our home insurance.
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10/30/2008 09:56:49 AM · #7 |
i didn't insure my laptop because the deductible on that was going to be almost what i paid for the damn thing..
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10/30/2008 09:58:51 AM · #8 |
Originally posted by soup:
potentially |
There's the key word. You don't know this for sure. Check with your particular isurance carrier. It varies from one to another.
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10/30/2008 10:02:21 AM · #9 |
well yeah, but i would hate to be dropped from the homeowners insurance ( or have the rate jacked way the hell up ) because i broke a $600 lens... one less thing to worry about IMO
the insurer even told me attaching it to our homeowners was a bad idea...
Message edited by author 2008-10-30 10:03:04.
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10/30/2008 10:11:41 AM · #10 |
I just called my insurance carrier and gave them this senario. I drop my camera. The lens and camera are destroyed and need to be replaced. The camera is insured for $3000 and a 24-105 "L" is about $1200. So $4200 in claims, what happens to my homeowners premiums? Her response is, premiums would likely go up $75-80 year for 3 years and then drop back to the normal rate provided I have no other claim in that time period. Essentially I pay $240 +/- to replace $4200 worth of gear instead of forking out $4200 from my pocket to replace it. Don't sound that awful bad to me. You canbet a spacialty insurance carrier is gonna be expensive and probably have a hefty deductible.
Originally posted by soup:
the insurer even told me attaching it to our homeowners was a bad idea... |
Maybe they just wanted you to buy some high priced plan they had to offer.
Message edited by author 2008-10-30 10:15:23.
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10/30/2008 10:30:02 AM · #11 |
Originally posted by soup:
i have a policy outside and seperate from our homeowners insurance - through state farm. we have other insurance with them as well. |
I'm gonna call State Farm and check that out. My carrier doesn't have a seperate plan.
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10/30/2008 10:53:39 AM · #12 |
Thanks for the replies so far.
I've only tried "big names" and thanks,  soup, I'll look into State Farm next and see what they say.
I live with someone who owns the house I live in and carries the policy, and my making use of the homeowners policy isn't an option - also I don't think homeowners covers loss/damage of items when used outside of the home, does it? Anyway - that's why I said upfront "outside of homeowners", since I didn't want to involve you guys in the unnecessary whys and wherefores of not following that path.
OdysseyF22 - yeah, ok, maybe they didn't snort, but they certainly seemed incredulous that I would even bother to particularly insure such items. :)
Thanks again, I'll try State Farm next time I get some time to sit down and talk it over with an agent. |
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10/30/2008 11:11:26 AM · #13 |
| I insure all my camera gear and laptop through State Farm as a separate Personal Property policy. It cots me a around $110 here in Alaska (everything here costs more). I can do anything to my gear - theft, forgot it on the park bench and lost it, dropped it in a river, ran it over with the car, etc and they will replace the equipment. I have only had one claim - they took down the serial number and replaced it fast. My rate stayed the same. That was 3 years ago - no claims since. |
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10/30/2008 11:12:09 AM · #14 |
| I had a rider on my homeowners and people know quite well on this site I got my money's worth. I thought I'd mention though that my insurance company (USAA) merely dropped the rider instead of the whole policy when they decided to plead 'uncle'. That may not be the case with all insurances, and I do a fair amount of other business with USAA (life, auto, IRA) which may have weighed into their decision. |
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10/30/2008 11:46:31 AM · #15 |
I use State Farm as well, and while I haven't filed a claim, the setup was easy and the price is low.
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10/30/2008 11:51:48 AM · #16 |
I just talked to State Farm and their rate is $1.30 per hundred of value and no deductible. I may cancel the other and go with this.
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10/30/2008 12:38:33 PM · #17 |
I have all of my photography, computer, and business equipment insured through Hill and Usher, which then is underwritten by The Hartford. I wouldnt step on a job without it.
Matt
Edit to add link Linkie
Message edited by author 2008-10-30 12:39:57.
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10/30/2008 12:46:18 PM · #18 |
Originally posted by MattO:
I have all of my photography, computer, and business equipment insured through Hill and Usher, which then is underwritten by The Hartford. I wouldnt step on a job without it.
Matt
Edit to add link Linkie |
And how much is that??
There's a big difference in a hobbyist wanting to protect their gear and commercial insurance like you have. Most people don't need or want to pay for what you have.
Message edited by author 2008-10-30 12:49:15.
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10/30/2008 12:58:37 PM · #19 |
Originally posted by NstiG8tr:
Originally posted by MattO:
I have all of my photography, computer, and business equipment insured through Hill and Usher, which then is underwritten by The Hartford. I wouldnt step on a job without it.
Matt
Edit to add link Linkie |
And how much is that??
There's a big difference in a hobbyist wanting to protect their gear and commercial insurance like you have. Most people don't need or want to pay for what you have. |
I think I pay $500 a year, and it covers 15k in camera equipment, my computer equipment, it insures me while I'm on the job so if someone gets hurt by my equipment(lightstand falls, strobe bulb blows and hurts someone ect) also protects me for errors and omissions, and I cant remember what else. But just imagine this scenario..... you are out shooting for a challenge, someone comes by and trips over your tripod, or knocks over your lightstand and it hits someone. Are you covered by your state farm policy against someone sueing you? How about your cousin asks you to shoot a wedding for him(freebie or even paid) someone gets hurt by your equipment and decides to sue the "Pro" who was shooting the wedding, how good is that state farm policy for that? We all do things that put us in the realm of pro work, you better be prepared for pro consequences in todays world.
I'm not a full time pro, I still have a day job that primarily pays my bills. But I still wont work without the policy. Yeah its $500 a year.......but my house and other belongings are worth that and more to me.
Matt
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10/30/2008 01:14:42 PM · #20 |
Originally posted by MattO:
I think I pay $500 a year, and it covers 15k in camera equipment, my computer equipment, it insures me while I'm on the job so if someone gets hurt by my equipment(lightstand falls, strobe bulb blows and hurts someone ect) also protects me for errors and omissions, and I cant remember what else. But just imagine this scenario..... you are out shooting for a challenge, someone comes by and trips over your tripod, or knocks over your lightstand and it hits someone. Are you covered by your state farm policy against someone sueing you? How about your cousin asks you to shoot a wedding for him(freebie or even paid) someone gets hurt by your equipment and decides to sue the "Pro" who was shooting the wedding, how good is that state farm policy for that? We all do things that put us in the realm of pro work, you better be prepared for pro consequences in todays world.
I'm not a full time pro, I still have a day job that primarily pays my bills. But I still wont work without the policy. Yeah its $500 a year.......but my house and other belongings are worth that and more to me.
Matt |
A very good point. For a hobbyist though, an alternative to this would be to purchase an umbrella policy, which is an extra liability policy written on top of my home and car insurance. It's typically cheaper than commercial liability insurance, and it gives me $1M (or more) of liability coverage for everything, not just things that happen when I have the camera in my hand. |
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10/30/2008 01:22:01 PM · #21 |
I knew there was a good answer to that: we have an umbrella policy with Mercury. Cool.
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10/30/2008 01:35:57 PM · #22 |
Originally posted by Ann:
Originally posted by MattO:
I think I pay $500 a year, and it covers 15k in camera equipment, my computer equipment, it insures me while I'm on the job so if someone gets hurt by my equipment(lightstand falls, strobe bulb blows and hurts someone ect) also protects me for errors and omissions, and I cant remember what else. But just imagine this scenario..... you are out shooting for a challenge, someone comes by and trips over your tripod, or knocks over your lightstand and it hits someone. Are you covered by your state farm policy against someone sueing you? How about your cousin asks you to shoot a wedding for him(freebie or even paid) someone gets hurt by your equipment and decides to sue the "Pro" who was shooting the wedding, how good is that state farm policy for that? We all do things that put us in the realm of pro work, you better be prepared for pro consequences in todays world.
I'm not a full time pro, I still have a day job that primarily pays my bills. But I still wont work without the policy. Yeah its $500 a year.......but my house and other belongings are worth that and more to me.
Matt |
A very good point. For a hobbyist though, an alternative to this would be to purchase an umbrella policy, which is an extra liability policy written on top of my home and car insurance. It's typically cheaper than commercial liability insurance, and it gives me $1M (or more) of liability coverage for everything, not just things that happen when I have the camera in my hand. |
But you are still risking your homeowners policy rates and other problems as well. This policy is just for this, and only for this. A hit on my home, or this policy doesnt effect the rates I pay for the other. I prefer to keep things separated as much as possible.
Matt
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10/30/2008 01:41:15 PM · #23 |
Originally posted by NstiG8tr:
I just talked to State Farm and their rate is $1.30 per hundred of value and no deductible. I may cancel the other and go with this. |
I've also got the Personal Property plan from State Farm at $10fee/$1000equipment (my car, house, etc is all with SF, so I get multiple policy discounts). Very cheap insurance from a reputable company! And as noted above - it covers EVERYTHING that could happen to the equipment. |
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10/30/2008 01:44:13 PM · #24 |
Originally posted by MattO:
But you are still risking your homeowners policy rates and other problems as well. This policy is just for this, and only for this. A hit on my home, or this policy doesnt effect the rates I pay for the other. I prefer to keep things separated as much as possible.
Matt |
The policy State Farm offers isn't attached in any way to a home owners policy.
Originally posted by MattO:
But just imagine this scenario..... you are out shooting for a challenge, someone comes by and trips over your tripod, or knocks over your lightstand and it hits someone. Are you covered by your state farm policy against someone sueing you?
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Most people aren't that paranoid about being sued.
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10/30/2008 02:10:54 PM · #25 |
Originally posted by NstiG8tr:
Originally posted by MattO:
But you are still risking your homeowners policy rates and other problems as well. This policy is just for this, and only for this. A hit on my home, or this policy doesnt effect the rates I pay for the other. I prefer to keep things separated as much as possible.
Matt |
The policy State Farm offers isn't attached in any way to a home owners policy.
Originally posted by MattO:
But just imagine this scenario..... you are out shooting for a challenge, someone comes by and trips over your tripod, or knocks over your lightstand and it hits someone. Are you covered by your state farm policy against someone sueing you?
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Most people aren't that paranoid about being sued. |
Don't think in today's world it cant happen. It can and does, its unfortunate but I'd prefer to make sure that what I have provided for my wife and son is there regardless of what happens in my photography business. I'm not paranoid, I've never had an accident, nor ever been sued, and I plan to keep it that way. But accidents do happen even when you are most careful.
I have been run over on the sidelines of a game, have take a stray foul ball off my equipment, even taking every precaution you possibly could and still do your job. Accidents and things beyond your control do happen. I prefer to spend a little money and prepare for the day it "might" happen to me.
Matt
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