Insurance

[drandy]

Interested what you folks are doing regarding insurance for all these fine cameras. All my various equipment is valued around $8000. Adding this to my Allstate house policy as specified items, ie no deductible and accidental damage adds $176 to my premium - seems steep to me!!

Are there purpose-designed policies out there which give as good if not better coverage for less? I tried searching the internet without success. I would like some leads to start off my searching.

Thanks!

[GenEOS]

There is a firm you can use through NPPA, National Press Photographers Association. They insure gear for any damage, by you, accidental, theft, breakage, etc... They will insure a group also.

I do not use these guys, so this is for information only, NOT advertising for them....

This is taken from the NPPA member site

-Daniel
--------

Offered by the NPPA and the Hays Group, a nationally known insurance company rated A (Excellent) by A.M. Best Company

All Losses are settled on a replacement cost basis (up to scheduled maximum).

This Plain English Policy is designed to protect the following described property against all risks of direct physical loss or damage with the customary policy exclusions.

Property Covered: Scheduled cameras (still or video), photographic equipment, films and related equipment.

Where Covered: Coverage applies to covered property within the United States and Territories and Canada.

Worldwide Coverage included: Up to 25,000, no excluded countries. Higher limits available for and additional premium.

Deductible: A $1,000 deductible will apply per each theft loss. A $500 deductible will apply for non-theft losses.

This Policy Does Cover theft losses to property if stolen from a locked vehicle when there are visible marks of forcible entry (or a police report).

Rental Property: Automatic coverage for property of others, temporarily in your possession, up to $15,000. Higher limits available for an additional premium.

Competitive rates subject to $250 minimum premium. Reduced rates of 10% can be obtained if Trunk Warranty is accepted. See Trunk Warranty for details.

Here's what NPPA members have to say about this program:
"These guys have saved my hide twice now and I have nothing but absolute respect for them."

"Coverage was so comprehensive that I had to go with them."

"[The] complete turn around time from theft to arrival of the check was nine days the first time and three days the second."

"[T]he folks who sell NPPA insurance are great. I've had insurance with them for many, many years."

"You can set a D1H on your trunk and drive off by accident, drop it into a river, leave it at a football game or blow it up with dynamite (by accident) and it's all covered."



For information Contact:
James Koenigsdorf, CPCU
Chris Winslow, Vice President
Toll Free (800) 522-2460
Phone (816) 474-3535
Fax (816) 842-5795
jkoenigsdorf@hayscompanies.com
cwinslow@hayscompanies.com

Hays Group
P.O. Box 410249
Kansas City, MO 64141

[BCdives]

State Farm "All risk" 0% deductabe for $12,000 Dollars worth of gear.... $98 Dollars per year!

[slin100]

I'm not an expert.

First of all, the type of insurance you get depends on whether or not the equipment is for professional use. Expect to pay more for professional-use gear.

If the gear is for personal use, you can usually get a "personal effects" rider added to your home owners policy.

The rate I'm paying is $1.25 per $100 with a zero deductible through State Farm. bcdives, you got a great rate.

[jazt]

Mine, is $1.55 per 100 (non Pro), $2.40 (pro).

Any loss. Neither rate has decuctable, and is considered scheduled property as part of my Home Owners insurance.

Also, the policy allows for 10% misc items that are not listed (i.e. camera bags, tripods, stuff without serial numbers...) So, if I insure $5000 of stuff, then $500 of other non-schedule would be covered also.

[defordphoto]

I think I'm paying $4-$5 a month for the rider for my gear with Allstate. 100% replacement, no quibble-claims. Covers ANY incident no matter what it is. No explanation necessary.

[Belmondo]

This discussion prompted me to call my insurance agent (Liberty Mutual), and he said, "No problem. It's all covered in your homeowner's policy." Then I gave him a rough idea of the value of this equipment, and he swallowed hard and told me I'd best give him a complete list along with description and replacement costs. He'll submit that to their underwriters and get back to me.

My problem now is: Do I put all that in writing and run the risk that my wife sees it?

What to do.
What to do.

Tom

[defordphoto]

belmondo wrote:
This discussion prompted me to call my insurance agent (Liberty Mutual), and he said, "No problem. It's all covered in your homeowner's policy." Then I gave him a rough idea of the value of this equipment, and he swallowed hard and told me I'd best give him a complete list along with description and replacement costs. He'll submit that to their underwriters and get back to me.

My problem now is: Do I put all that in writing and run the risk that my wife sees it?

What to do.
What to do.

Tom

But, what is not covered in your homeowners insurance is an odd event that damages or causes other loss of equipment. Normal homeowners ins. does cover it against theft or fire, even when not in the home, but it is limited coverage.

The rider I added to my homeowners covers ANY loss whatsoever. My camera could fall off my neck and into the ocean and it would be covered. Or hiking up a mountain and my LowePro backpack falls off the cliff. Homeowners won't cover that type of event.

[Belmondo]

Good points. I'm actually going to pursue it with him.

Thos.

[robertwgross]

belmondo wrote:
...
My problem now is: Do I put all that in writing and run the risk that my wife sees it?

What to do.
What to do.


Think of it this way. What is your wife worth to you?

Insurance is cheaper than marriage.

---Bob Gross---

[robertwgross]

A photographer friend of mine was having a hard time explaining the high cost of camera lenses to his new wife.

Finally, he sold her on the concept of 'L' lenses, and then he explained to her: "Baby, you are my 'L' wife. Expensive, but worth every penny."

---Bob Gross---

[Scottes]

I had this insurance thought last week and talked to my agent at Liberty Mutual. She all but demanded receipts - I have most but may be missing one. She basically said that LM wouldn't cover it without a receipt. Since the insurance covers for replacement cost, not purchase price, I was kinda confused and asked her about this. She turned into a wolverine at this point and got quite nasty.

So has anyone had different experiences with receipts or lack of receipts? Might there be an appraisal method, such as they do with jewelry?

And does anyone have insight into all the little things we carry around - filters, batteries, CF cards - that quickly run another $1000+. Will those insurance companies cover this? (I forgot to ask this question).

BTW, my Liberty Mutual person quoted a hair over 1% for all risk no questions asked.

[robertwgross]

scottes wrote:
... She turned into a wolverine at this point and got quite nasty.
...
BTW, my Liberty Mutual person quoted a hair over 1% for all risk no questions asked.

Maybe she *is* a wolverine. 1% premium for what period?

An insurance agent that turns into a wolverine isn't going to stay in business for long.

---Bob Gross---

[IndyJeff]

scottes wrote:
I had this insurance thought last week and talked to my agent at Liberty Mutual. She all but demanded receipts - I have most but may be missing one. She basically said that LM wouldn't cover it without a receipt. Since the insurance covers for replacement cost, not purchase price, I was kinda confused and asked her about this. She turned into a wolverine at this point and got quite nasty.



I don't see what reciepts would have to do with it. As long as you can provide proof that you possess the equipment, i.e. a picture of everything, and can provide serial numbers for the property. If you have a loss and it is replacement coverage, then they should replace it. No matter what your cost was.

If my agent turned into a "wolverine" and got nasty I would simply tell her there is no need to say anything more. Then politely tell her you don't really care for her attitude and you will be looking for a new agent.
I did this after a car accident and my agent didn't want to give me any assistance what-so-ever. The other drivers insurance was trying to say that because the roads were snow covered it wasn't their clients fault he smashed in the back corner panel of my van. Until I told them that further conversations would be thru my attorney, they didn't want to co-operate with me alone. I now have an agent with same company, closer to my house and a guy I actually enjoy talking to.

[kellylipp]

I just happened to do this myself.

Though I know how some of you feel about equipment lists, here goes so as to give a baseline:

10D
512 Card
1 GB Microdrive
28-135 Canon Lens (not L!)
20-35 Canon Lens (again, not L!)
440 Flash

Added $40 to my annual premium. Me thinks well worth it.

[defordphoto]

Which this is all reminding me I should call my agent as I have added a camera and several lenses (and more) since I added the rider for my camera gear...

[jazt]

IndyJeff wrote:
scottes wrote:
I had this insurance thought last week and talked to my agent at Liberty Mutual. She all but demanded receipts - I have most but may be missing one. She basically said that LM wouldn't cover it without a receipt. Since the insurance covers for replacement cost, not purchase price, I was kinda confused and asked her about this. She turned into a wolverine at this point and got quite nasty.



I don't see what reciepts would have to do with it. As long as you can provide proof that you possess the equipment, i.e. a picture of everything, and can provide serial numbers for the property. If you have a loss and it is replacement coverage, then they should replace it. No matter what your cost was.

If my agent turned into a "wolverine" and got nasty I would simply tell her there is no need to say anything more. Then politely tell her you don't really care for her attitude and you will be looking for a new agent.
I did this after a car accident and my agent didn't want to give me any assistance what-so-ever. The other drivers insurance was trying to say that because the roads were snow covered it wasn't their clients fault he smashed in the back corner panel of my van. Until I told them that further conversations would be thru my attorney, they didn't want to co-operate with me alone. I now have an agent with same company, closer to my house and a guy I actually enjoy talking to.



My insurance company required receipts ( and I work for them in IT !!) Oh, well.

I made a fuss about the receipts thing also, but they insisted on receipts. Just for grins I asked my local dealer about "appraisal" and they laughed. Either way I had all the receipts so it was no big deal.

What's more important is your agents "attitude". Give her some time, perhaps it was 'the bad time' of the month... you know, when she must make her qouta.

Call back, fax the receipts you have, get the qoute. Also, ask a few difficult questions about you other policy. She how she treats you.

If you don't like the response (attitude and coverages!), it's time to shop your business elsewhere.