Insurance for gear

Discussion in 'General Discussion' started by triangular, Aug 28, 2005.

  1. What does everyone do for insurance on equipment? I take my gear to some really weird places sometimes. Like 3rd world countries, war zones, extreme weather environments, etc. I think more and more about insurance the more valuable my gear becomes. But I am not a homeowner so I don't have a policy I can add it to. I've looked around for an independant insurer, but the only one I've ever found required membership of an organization and then charged about $100 per $1,000 insured, per year. What other options do I have?
     
  2. Simon

    Simon

    315
    Apr 30, 2005
    Sydney, Australia
    Hi Chris

    I always insure my gear through my company.

    Covered for replacement value, I have it covered for theft (on and off premises) and accidental damage etc
     
  3. I have used State Farm Insurance for years. I have insured computers (laptops), cameras, lenses and other poersonal items. I have my camera, lenses, and laptop insured now.

    I have never had to use it, thank goodness.

    $5000 of insurance is about $40 a year.
     
  4. With State Farm that's a rider to your homeowners policy isn't it?
     
  5. I do have my auto insurance with State Farm. The policy I have is called a personal property policy.
     
  6. I have insurance though State Farm also. It’s a separate policy that I was able to get because I already had renters insurance through them. It’s called a “personal articles policy” and it is not applicable if you are using your equipment for making money. It costs me about $400 a year to cover around $35000 worth of equipment and it covers virtually everything with no deductible.
     
  7. That is a very good price. I don't currently have any insurance with State Farm, but I will certainly call one of their offices now and ask about this kind of coverage. Thanks!
     
  8. Which one applies to State Farm ? Can I only use them for #4 option ?

    1. Car + Camera
    2. House + Camera
    3. Car + House + Camera
    4. Camera ONLY
     
  9. Flew

    Flew

    994
    Jan 25, 2005
    Alabama
    Jay,

    You can have any or all of these options, but according to my agent, the cam insurance is separate (I guess that actually, they are each separate policies). I also have a personal articles policy for my gear. It runs about $11 per $1,000 of equipment I believe.
     
  10. I don’t remember for sure but I think I was told that I could get the personal articles policy only because I already had renters insurance with them. I also had car insurance with then at that time but I’m pretty sure that it was the renters insurance that mattered. That was 4 or 5 years ago so things may be different now.

    Hope this helps,
     
  11. another option is to join NANPA and you can insure your gear through them. Not cheap but I have about 28000.00 insured for 437.00 a year. If you need more info PM me.
     
  12. mf44

    mf44

    128
    Jun 4, 2005
    NJ & MD
    I have my gear insured through the NANPA deal, too. Personally I think it's the best commercially viable insurance. A lot of the State Farm, etc policies are really sticklers about making money or using the gear commercially. Also, be sure the coverage is worldwide and not just in the USA.
     
  13. PJohnP

    PJohnP

    Feb 5, 2005
    We had a fairly comprehensive discussion on this topic back in March, including an assessment of home versus business insurance at :

    https://www.nikoncafe.com/vforums/showthread.php?t=45640&highlight=insurance

    Go to the second page...

    And the discussion included our own Jonathan f/2 who had suffered a severe loss not long before the discussion.

    I don't think too much has changed in the interval since then.


    John P.
     
    Last edited by a moderator: Mar 15, 2017
  14. MikeG

    MikeG

    145
    Apr 30, 2005
    SF Bay Area
    What little I know...

    I've been around the insurance stuff in various forms. Matter of fact, I used to be licensed for property and casualty as well as life insurance. But that was then and this is now, and I'm speaking only from personal experience and not "ex Cathedra."

    I have several "business" policies for the businesses that me and the missus run (Photography, Accounting, Tax and Real Estate). These are from the same carrier that we have for our home/auto insurance, but they are distinct business policies.

    For the Photographer part I have a separate business insurance policy which covers all of my gear for full replacement value (unspecified - I do not have to provide a list of equipment and serial numbers) plus $1M liability (which covers things like trip and fall on my locations as well as studio work), E&O and business coverage of my vehicles. The liability insurance is necessary for location and studio shoots. In fact, you cannot go on to various venues without proof of at least that amount. The E&O covers any actionable mistakes, either yours or ones attributable to miscommunication between you and the client.

    Business vehicle coverage is an absolute must if you are making money from your endeavours, as your normal vehicle policy might not apply. This might sound like overkill, but I think it is necessary to cover one's own buttocks to the max - there is a liar (errr....lawyer) lurking under every rock these days.

    Strangely enough, the policy doesn't cover damage by immersion in water. Your knowledge of the effects of camera equipment and hard surfaces should suffice in this case.

    All this for about USD $550 per year. A bargain? You be the judge.

    If you're doing it for money, it's a cheap price to pay since your house and personal possesions might be at stake.

    If that consists of a 1987 Yugo and a crash pad in your buddy's garage, then "no problemo." OTOH if you've got a house, some acreage, a few critters and several valuable vehicles....think about it.

    No intention to alarm anyone, but as Sgt. Friday said, "Just the facts."

    YMMV. :cool:
     
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