Photography Equipment Insurance

Hey all,

I know this has been addressed probably several times but after a couple searches and reading through the first several pages I couldn't find any guidance.

My situation: I currently travel all over the world for my day job and often times take my camera and a few lenses with me so I can capture some pictures in these different countries. I also take some time off after each job for myself and travel about the country taking pictures. I share my images on my site where people are welcome to order prints if they are interested. When I am home, I shoot sports for a local privet school and also supply these to a wire service that covers high school sports. So needless to say I make some money off my shots. I in no way consider myself a professional photographer, however, because my living is paid for by my day job.

The deli-ma: I use to have a policy with my home owners insurance but when they found out that I was making any kind of money off my pictures they dropped the policy. So now, I am stuck without insurance for my gear. I know about the Professional Photographer Association and being a member there offers you insurance, but again I do not consider myself a professional as I don't make a living off my gear.

I am curious if anyone has any suggestion or if I should just apply for a PPA membership and explain the situation I am in. I do not wish to take away from those that make a full living off their work, but I want my investment (gear) to be protected. Thanks in advance for anyone opinions and guidance in this matter.

Cheers,
Chris

I get mine through State Farm (personal policy). For $10,000 in gear I pay like $145 a year. Covers everything from theft, misplacement, damage due to dropping, etc... It just does not cover mechanical failure due to age.

They also cover insurance to/from Canon via Fedex/UPS. I never pay shipping insurance because I called and confirmed they will take care of it should anything ever happen (since I still own the equipment).

I just send an itemized list (excel spreadsheet) to them with the name, serial number and value. I don't even supply receipts. Very easy to maintain and all that.

Chris,

I have faced the same dilemma. I used to have business insurance that provided comprehensive coverage on my equipment. But it was expensive. Extremely expensive - to the point where I simply could not come up with enough money to pay the premiums, and had o drop the coverage.

They wanted $42 per month, to cover $16,000 in gear. Even at half the price, I wouldn't be able to do it.

It's frustrating that no company seems to offer truly reasonable insurance for those who derive a modest income from image sales.

Invertalon wrote in post #15049923
I get mine through State Farm (personal policy). For $10,000 in gear I pay like $145 a year.

But the OP already explained that he is not eligible for a personal policy.

Tom Reichner wrote in post #15050122
Chris,

I have faced the same dilemma. I used to have business insurance that provided comprehensive coverage on my equipment. But it was expensive. Extremely expensive - to the point where I simply could not come up with enough money to pay the premiums, and had o drop the coverage.

They wanted $42 per month, to cover $16,000 in gear. Even at half the price, I wouldn't be able to do it.

It's frustrating that no company seems to offer truly reasonable insurance for those who derive a modest income from image sales.


But the OP already explained that he is not eligible for a personal policy.

Not covered by homeowners policy is the way I read it. A personal or and Nationwide calls it inland marine to cover personal property in excess of your homeowner rider. It's based on value of the insured property - period.

crbeveri wrote in post #15049825
I use to have a policy with my home owners insurance but when they found out that I was making any kind of money off my pictures they dropped the policy.

Is this normal? I ask because thats how I'm currently insured but also sell the occasional image.

I could ask my insurance broker but would rather do that later rather than sooner.

Riders to home owners are generally worthless. They depreciate your gear so you won't get replacement value. Get your insurance through hill & usher or tom c Picard. I use Picard.

Thomas Campbell wrote in post #15050272
Riders to home owners are generally worthless. They depreciate your gear so you won't get replacement value. Get your insurance through hill & usher or tom c Picard. I use Picard.

Thanks Tom I'll look into those. How have you been btw?

Lowner wrote in post #15050259
Is this normal? I ask because thats how I'm currently insured but also sell the occasional image.

I could ask my insurance broker but would rather do that later rather than sooner.

Not sure if it's normal or not but when I got the rider policy they did inform me that this is voided if I make money off my pictures. They then went on to ask me if I sold my photos. At the time I didn't but when I got asked by a few co-workers if they could purchase some of my shots for their house and office I said hey why not. That's when I set up my website and started selling them.

You can try Marsh. They were with PPA a couple of years ago, but PPA now offers "free" insurance with their membership which is $36/month.

The good thing about Marsh is they offer insurance based on the $ value you place on your equipment. I believe they have a $x.xx per $100 of the equipment value. This way you can write down the market value or the replacement value. Example: 5Dc $700 market = $7.00 or its replacement is a 5D Mark III of $3,600 = $36.00/year.

Their phone # is 800-588-7518 or email plsdsteam@marshpm.com and they can send you a form to fill out and it will help you calculate your rate.

Thanks, Zerovision! If their premiums are in the ballpark of $10 per $1000 covered, per year, then count me in!


EDIT: I just contacted them; can't wait to hear back!

Tom Reichner wrote in post #15050122
Chris,

But the OP already explained that he is not eligible for a personal policy.

Oops.. Read at school and must of missed that detail... Sorry!

crbeveri wrote in post #15050606
Not sure if it's normal or not but when I got the rider policy they did inform me that this is voided if I make money off my pictures. They then went on to ask me if I sold my photos. At the time I didn't but when I got asked by a few co-workers if they could purchase some of my shots for their house and office I said hey why not. That's when I set up my website and started selling them.

Not sure I understand your reference to a "rider". When I first insured my camera gear the broker and insurance company just took my valuations and I've had no further correspondance with either. I'm currently updating the items list and the valuation (some up, some down) but thats because I want them to be kept informed, not because they have requested it.

We sound as though we are in very similar positions.

Lowner wrote in post #15053058
Not sure I understand your reference to a "rider". When I first insured my camera gear the broker and insurance company just took my valuations and I've had no further correspondance with either. I'm currently updating the items list and the valuation (some up, some down) but thats because I want them to be kept informed, not because they have requested it.

We sound as though we are in very similar positions.

by rider (and perhaps my terminology is wrong) I mean I got an additional policy on top of my own home insurance policy. In other words if I was out on site shooting or somewhere around the world this policy would cover the equipment. If my equipment was in my house and the house got broken into or burnt down or whatever then my home insurance would cover it.

However, part of the contract with this policy or any other policy for something like this (at least through State Farm as I am told by them) is that if you make any kind of money off your images then this policy is voided. So, because I sell my images and have made money off them State Farm sees this as a business and thus would require business insurance not a separate policy that is tied with my home owners policy. I am not 100% sure about all the legal mumbo jumbo I just know that they will not insure my gear on location (out of my house) anymore because I sell my work.

I hope this kind of cleared up what I was talking about.

crbeveri,

Thanks. I understand. Its what I expected but did not get. The fact that my camera gear is out of the insured premises apparently makes no difference to my insurer, at least thats what they claim. They also insure all my personal sailing kit under a similar arrangement.

I take some reassurance from the fact that I'm highly unlikely to take ALL my kit on a photo expedition, so they would have to do some very clever wriggling as a claim would be for well under the total insured value. Does not mean they would not try of course, Insurance companies having the reputation that they have.

crbeveri wrote in post #15053843
by rider (and perhaps my terminology is wrong) I mean I got an additional policy on top of my own home insurance policy. In other words if I was out on site shooting or somewhere around the world this policy would cover the equipment. If my equipment was in my house and the house got broken into or burnt down or whatever then my home insurance would cover it.

However, part of the contract with this policy or any other policy for something like this (at least through State Farm as I am told by them) is that if you make any kind of money off your images then this policy is voided. So, because I sell my images and have made money off them State Farm sees this as a business and thus would require business insurance not a separate policy that is tied with my home owners policy. I am not 100% sure about all the legal mumbo jumbo I just know that they will not insure my gear on location (out of my house) anymore because I sell my work.

I hope this kind of cleared up what I was talking about.

thx for the explanation, I've thought about insurance but not sure if it's worth it