What Happens If A Claim Is Filed With Photography Insurance?

[nitekatt2006]

I have been researching rates and policies for photography insurance. I called one of the leading lenders and asked about a rider. the rate the agent gave me was $2000 extra a year. This was a bit out of range. What I am curious about is, has anyone had to file a claim and if so, was the premium raised or cancelled?This of course sometimes happens with auto policies if there are accidents.

A while back, I read somewhere that an elderly wedding guest had too much wine and tripped over the photographer's tripod and broke her hip. What a nightmare. Not sure if the photographer had insurance or not. Not sure if the photographer would be responsible, but my guess it's possible.

So if you have insurance and filed any claims, what was the outcome?

katt

[PhotosGuy]

I got paid in full. Your results may vary.
$2000/year for what value of equipment?
What country?
Full replacement value?

[nitekatt2006]

Hi photoguy. My situation is in the US. The agent expained to me that the equipment would be replaced but on a depreciation value at the time of the claim filed. Also, if it was proven that the gear was used for a pro situation, all coverage was void. Didn't think this was wise to go with.

I am wondering if coverage is cancelled if claims are filed for any reason
katt

[ssim]

That seems like an atrociously high amount. I'd certainly check around some more. I have everything valued at over 1000.00 covered in my insurance and I pay less than half of your quote. My gear is insured for replacement value. This is in Canada though. I have never filed a claim yet.

I carry liability insurance for situations like you explained about the woman breaking her hip. It also covers me for situations where your gear might cause damage to the facility you happen to be in. This part is not cheap but is great peace of mind and will ensure that I always have a house to live in. Those that enter into this type of business and don't carry some sort of liability insurance are playing a dangerous game, imo.

I would assume that if you made claims that your premiums would go up. It happens for your auto insurance, why not in this case.

[coreypolis]

find a new agent.

I had about $16k covered by state farm, full coverage, 0 deductible about $200 a year. and you can even have it rise in value per year, as it can cost more to replace the item with the newer version.

Hill and Ushire or Tom Pickard's Group Insure are some of the best for business and gear coverage, about 500-600 a year for liability and gear coverage and other odds and ends

[coreypolis]

no it won't be cancelled or neccessarily go up with one or maybe 2 claims. Repeated claims or neglegence, probably.

I went to school with a girl that had her car broken into twice in a year, state farm paid out over $8k to her and she paid them about $125.

[PhotosGuy]

I am wondering if coverage is cancelled if claims are filed for any reason It depends on the company. Ask your agent for their history. Best to keep the $40-50 claims to yourself. ;)

[nitekatt2006]

That's all great advice from everyone's input here. I agree that insurance in this field is a necessary business expense. I'll check out some of the links here and see what I come up with. If you live in the US, will companies in Canada or UK still offe coverage with r competitve rates? katt

[mdmedicgod]

State farm personal articles policy. It is all perils full replacement. It cost about 10bucks per 1000 dollars insured.

Also, unless your deriving the bulk of income from photography. Be sure to tell them its all a hobby. If you mention pro. They won't cover or if they do they will give you a sky high rate

[R Hardman]

$2000 a year ! WOWZERS. I pay $1.00 per $100.00 worth of value. Like many of the above posts... full replacement (next model if current no longer avail), $0 deductable, anywhere, any type of incident. You need to find another agent.