Is Your Camera Gear Insured?
I'm taking time today to re-inventory my equipment and send an updated list over to my insurance company. While doing this, I began wondering how many serious-amateur/professional photographers have their gear insured.
I added a rider to my studio/office insurance policy a couple of years ago to cover my gear in case of theft and/or loss. Since I will routinely bring just about everything I have onto a location for a shoot, I figured this was a wise choice. The cost of the additional coverage was only a few hundred dollars a year. That's pretty cheap when you consider how easy it is for us photographers to gather several thousand dollars worth of equipment that could easily be walked off with by a thief.
At the very minimum, I would recommend that photographers take a moment this week to call their insurance company (homeowners, vehicle, etc.) and inquire about adding coverage for camera equipment. Don't assume that it's covered, make sure it is.
I'd be curious to hear from the readers if you have your gear insured. And, if so, please share if you have a great insurance company you'd like to recommend.
Canon G7 - 1/60 second, f/4, ISO 200
14 Comments:
My insurance policy expired a few days ago. I'm looking for a cheaper plan. I have heard of other photographers getting their equipment covered for ~$200/year. I'm looking for a deal like that.
Just a small bit of advice about your homeowners policy and something to look at, most policies will not cover the gear if it is lost / broken or stolen while out of the country.
Great advice Rich. Honestly I have done nothing about insuring my gear and I really should. The only time I have done any insurance itemization was on tour where the travel insurance required it.
Right now I rely on 1. my home owners and 2. my auto insurance but don't have any other insurance should it get dropped, or stolen from anywhere aside from my car or home.
What I've always tried to do, in addition to keeping receipts for large ticket items, is to photograph them and their serial number and keep the digital files somewhere safe (like in Gmail) and make prints of it all for reference.
I have my gear covered as a separate rider through USAA (military insurance). They do have separate policies and rates for business shooters vs. amateurs/personal use so folks may want to keep that in mind when obtaining coverage.
I insured mine as scheduled items under my renter's insurance with MetLife. I specifically wanted an all-risk policy so that it would cover anything no matter where I was. Three months later all of my gear was "lost" by an airline (after they forced me to check the bag, no less). AND, their claim forms specifically state they are not responsible for camera equipment and just about anything else that could be valuable. But, thank goodness, I had insurance. I faxed a copy of the baggage claim to MetLife and got a check about a week later. If it hadn't been for that insurance I'm sure I would have ended up on the news or in jail.
It costs so little to insure this stuff, there really is no reason not to.
I am just an semi-serious-amateur and twice I have had my camera equipment from my house, once from my car trunk, once from my living room. My Allstate homeowners policy covered it both times (about 3 years apart). I would HIGHLY recommend everyone get homeowners insurance.
-michael
My camera gear is insured under my home contents policy, and I have everything itemised with serial numbers in the policy.
However, it only covers me for theft or accidental damage in the country, so when travelling overseas, I need to take out additional insurance.
I have all my lenses, cameras, pocket wizard, Sekonic meter and each Canon Speedlight insured with State Farm as a rider on my Homeowner's Policy. Each time I upgrade a camera, I drop one, even if I don't sell it. I don't insure the softboxes, stands or White Lightnings.
Debbi
Insuring your equipment is an absolute no brainer for professional photographers and even serious hobbyists. Camera equipment is expensive and the likelihood of it getting stolen, broken or lost is quite high if you use it a lot. Large events, air travel, shooting by water or from tall buildings, etc. In many cases, your photographic equipment can be worth more than your car. And NOT insuring your car is just NOT an option, but I'm surprised at how many people don't insure their camera gear. I've never had to file a claim yet, but I know that if I ever had to, it would be covered. Just like backing up your hard drives or having health insurance, you never realize how important it is until a disaster happens and then it's a life saver. You may complain about the cost now, but once it saves your bacon you sure won't. That said, I opted to have a separate insurance for my camera and computer equipment and not use my home owners insurance for that. I just wanted to be sure there were no loopholes or limits if I needed to file a claim (ie: if I dropped a really expensive camera off the side of a fishing boat while in Greece or something) and didn't want the possibility of multiple claims affecting my homeowners insurance rates. It's a good idea to remind people about insurance though Rich.
Do you add a rider to your homeowners policy, or do you get it through a separate company?
The homeowners policy will cover a "percentage" of the loss. This percentage is based on the value of your home. If your home is insured for $ 1.0 Million the "Contents" coverage is 10% of the loss.
My emphasis is to "prevent" the loss in the FIRST place. If you want other tips to preventing property losses such as high valued camera equipment send me a reply on this blog.
I got my D90 and other camera equipment insured just after I got it.
I thought it was wise, seeing as I was taking it to Italy a month after I insured it, so I could take pictures while skiing without worrying.
I have both a small business policy which covers liability and property and a personal articles policy which specifically covers my scheduled camera equipment against any loss with no deductible. The second policy felt a bit luxurious, but my State Farm agent recommended it and she was right. I recently broke a pocket wizard and had it replaced the next day. For the details on what happened check out insured during a baby photo shoot and the post immediately following it on my awesome insurance agent.
Post a Comment
<< Home