Insurance value

[Jared555]

What do you use as the value for insurance when you are listing what you own to the company? The price you paid, replacement cost where you would buy it, or the list price? Note: that the insurance company is only asking for a description, serial number, and how much I want to insure it for

[ThomasOwenM]

My insurance company wanted the value that it would cost to replace it. When I had a receipt available I gave them a copy of that. When I didn't, I just gave them a printout of the item from BH Photo/Video's web page.

[PhotosGuy]

My insurance company wanted the value that it would cost to replace it. Didn't used to be that way. They'd charge you according to the value new, then mark it down as used if/when they had to pay.
I always get replacement cost.

[Just Be]

I just did this today.
State Farm
"Personal Articles Policy" ,if for hobby not business.
Yes, they will give you what you paid for it. I asked. No depreciation penalty.

$1.30 per $100 of gear.

[DarrenL]

My camera insurance in the UK is new for old which means all my kit has to be insured at full retail price if I were to need to replace it.

The down side is the insurance value is alot more than I paid as some of my kit was second hand. For exampe my 1D MK1 was £600 when I bought it 2nd hand, however it's insured at £2300. The upside is if it gets damaged or stolen I get a cheque for the replacment value which is £2300.

Darren