24-70L - how to insure?

With version 2 replacing version 1 (based on b&h website), how are you guys insuring your version 1 lens? If it breaks and needs to be replaced, currently I would need to spend more out of pocket than I did to originally purchase the lens! Is there a way to address this lens being replaced. I bought mine just last year, so unlike many others, I don't have years of use to say paying the difference is justified. When I bought mine, version 2 was still a "never gonna happen" rumor....

I have a personnel article policy in addition to my homeowners policy which covers my camera gear up to the purchase price...even if it's accidental damage...no deductible

The new purchase price or one you paid. I have an inland marine policy, but I don't know to address the fact the lens is discontinued and the replacement is over double what I paid.

It would be replacement cost up to the original purchase price. Down the road 3-4 years if the(IE 60D) is still available for purchase it would be the current asking price or the price of an equivalent camera...that's how I understand it. It cost me an extra $100 per year to cover 4k worth of equipment.

I just got a quote from AAA. At my home in Los Angeles, 7K coverage is $280 per year. No deductable, but if article is over $1000, you must have each "appraised".
General Home owners policy only covers maximum $500 for photo equipment so the personal article "add-on" is needed. Can anybody refer me to another company that might be cheaper for Personal Articles Insurance.

I'm using State Farm's Inland Marine Policy. Not sure my grand total but its around $5k. Paid about $70 for the year, $100 deductible, and it also covers mechanical failure.

USAA gives me a personal property writer on my homeowners. $6500 in coverage for $110 per year.

One thing you have to make sure, is if you use it for business at all, regular homeowners may or may not cover it...

pdrober2 wrote in post #15096646
USAA gives me a personal property writer on my homeowners. $6500 in coverage for $110 per year.

USAA here as well.

I want to say that rider has a deductible if it's tagged to the home owners policy. I'm not sure if it covers accidents such as dropping either.

I did mine a separate personal property rider with USAA (paid on the same bill/time as my car insurance with them) so I wouldn't have the deductible and for another reason I can't recall as it's past my bed time, lol. The cost was almost the same.

I have some firearms coverage as an add on to the home owners policy however. That way worked out better. Plus I'm not as concerned about 'accidents' with them.

Some basic "personal property" coverage that is included with the homeowners, I believe, is inclusive with several types of items. In my case, if there was a fire or theft, my max would be 2k (or whatever it is) for the cameras, firearms ect. ect. without the extra insurance.

In any case, I gave my Insurance company the serial numbers of all the cameras, lenses and the flash. I also have an extra $500 of "equipment" listed as tripod, batteries, memory cards. bags and misc photography equipment to help cover theft/loss of the whole bag/kit as well. That extra $500 was not that much more. I have more than $500 but I can't see it all being taken out at once. I figured that would be worst case.

Speaking of ins. I need to call and add my new lens that came last week. I get a 30 day grace period but I try to be punctual either way. Otherwise I might forget.