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FORUMS Canon Cameras, Lenses & Accessories Canon EF and EF-S Lenses 
Thread started 26 Jul 2011 (Tuesday) 16:03
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Lens insurance

 
pxchoi
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Jul 27, 2011 04:04 |  #16

BigBadWolfie wrote in post #12829785 (external link)
I'm considering buying extended warranty for my camera body and lens which cost me about the same amount of money. But once I start adding up the cost, insuring both with accidental warranty takes a big chunk of change. I suppose that when it comes to accidents there's more likelihood of dropping the lens only, than the body only. But how much piece of mind will you get from insuring a lens that will be attached to the camera body 90% of the time and not the camera body as well?

And what about just an extended warranty for mechanical failures? Is the camera body more prone to mechanical failure than lenses? And which mechanical failures are expensive to fix? 2 to three years down the row, you know your lens will be worth more than your camera body. But from everything I've read, fixing zoom and focus rings and IS often come out cheaper than fixing a camera body that has a part that failed.

With mechanical issues, if you want the piece of mind, probably just the extended warranty will do without the accidental damage coverage. However, I don't know if I trust anyone to service my equipment other than the manufacturer.

I'm a gadget person myself, and I usually feel more comfortable getting extended warranties, because I've used them several times and got my money's worth. However, I don't buy them on my camera stuff because in my experience it seems that everything that will go wrong on a camera, usually happens within the first few months <knock on wood>.

For accidental stuff, that's why I have insurance. I have $8k worth of stuff insured and it was only around $120 a year. Or, State Farm gives you the option to pay per month if you can't afford to do it at once. $10 a month is well worth knowing my equipment is safe under any circumstance.


Patrick Choi
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Brandon ­ Anderson ­ Photos
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Jul 27, 2011 15:29 |  #17

another vote for state farm, I just added my new lens today


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BigBadWolfie
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Jul 27, 2011 20:54 as a reply to  @ Brandon Anderson Photos's post |  #18

I'm a bit surprised at all the State Farm recommendations. Has anyone actually try to put in a claim? I always thought State Farm was known amongst lawyers as the insurance company that filled their text books. :lol:




  
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pxchoi
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Jul 27, 2011 21:15 |  #19

BigBadWolfie wrote in post #12834631 (external link)
I'm a bit surprised at all the State Farm recommendations. Has anyone actually try to put in a claim? I always thought State Farm was known amongst lawyers as the insurance company that filled their text books. :lol:

I personally have no made a claim. But there are a few threads on this forum in regards to it. Overall, it seems to be a pretty good experience and no or very little questions asked.


Patrick Choi
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EOS 7D | 580EX II | 10-22mm f3.5-f4.5 | 17-55mm f/2.8 IS |70-200mm f/2.8L IS II
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olouie
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Jul 28, 2011 00:09 |  #20

BigBadWolfie wrote in post #12834631 (external link)
I'm a bit surprised at all the State Farm recommendations. Has anyone actually try to put in a claim? I always thought State Farm was known amongst lawyers as the insurance company that filled their text books. :lol:

State Farm usually pays set fees to lawyers to handle matters (not sure about cameras in particular), but know a few attorneys who do work for them. The lawyers have incentives to resolve things quickly. Not sure about lawyers who work directly for them though.




  
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BigBadWolfie
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Jul 28, 2011 04:00 |  #21

olouie wrote in post #12835662 (external link)
State Farm usually pays set fees to lawyers to handle matters (not sure about cameras in particular), but know a few attorneys who do work for them. The lawyers have incentives to resolve things quickly. Not sure about lawyers who work directly for them though.

Sure. All of the big insurance companies have their own legal teams. That says nothing though. They've been front and center in bad faith lawsuit over the years, the most recent big one being lawsuits related to Katrina.




  
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Docsknotinn
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Jul 28, 2011 10:52 |  #22

I keep all my major gear gear scheduled under my home owners. This keeps it separate from my main policy and gives me coverage for all losses and a zero deductible. My agent keeps a copy of all purchase receipts and SN's and I update the replacement cost as prices go up. I pay less than 1% which IMO is great deal. Insurance varies a LOT from place to place and Co-Co though.




  
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olouie
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Jul 28, 2011 12:45 |  #23

BigBadWolfie wrote in post #12836202 (external link)
Sure. All of the big insurance companies have their own legal teams. That says nothing though. They've been front and center in bad faith lawsuit over the years, the most recent big one being lawsuits related to Katrina.

Agreed, but I would think they would fight the major claims like that more than small personal property claims for cameras. One major problem with insurance is that it often does not cover what people expect it to (i.e. homeowners insurance usually does not cover flood damage) and then you get the insurance companies fighting over what caused the damage.




  
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Lens insurance
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