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FORUMS Post Processing, Marketing & Presenting Photos The Business of Photography 
Thread started 15 Oct 2013 (Tuesday) 16:03
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Camera Equipment Insurance

 
OuttaCtrl
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Oct 15, 2013 16:03 |  #1

Need y'all advise. Does $132/year of insurance for $15K of gear good?


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supfresh
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Oct 15, 2013 16:27 |  #2

I'm quite interested in as well, what service did you receive that quote from?


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the ­ flying ­ moose
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Oct 15, 2013 16:41 |  #3

I'd punch a baby to get that price. I am looking around $120/month for that kind of coverage in Canada.




  
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gotglade
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Oct 15, 2013 17:08 |  #4

the flying moose wrote in post #16373651 (external link)
I'd punch a baby to get that price. I am looking around $120/month for that kind of coverage in Canada.

Haha! Yeah, that sounds like a great price!
I'm paying ~$520/year for $32,000 in business property/$1 Million ($2M aggregate) liability plus another $12,000 in cameras/lenses/laptop on a personal articles policy. I have the personal articles policy on those items because most business property insurance doesn't cover you being clumsy and dropping you equipment. However, the personal articles does so if I drop a camera or lens and it breaks, they'll replace it with no deductible.
Not that I've ever dropped one (*knocks on wood*) : )

I guess the price looks good depending on the small print:
1. Is this business insurance and does it cover liability in addition to the gear?
2. How big is the deductible? I've got a $500 deductible on the non-PAP insurnace.
3. Say your camera got lifted. Does the insurance cover cash value at time of loss, or would they replace with a current equivalent model?


Glade

  
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phantelope
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Oct 15, 2013 17:40 |  #5

I signed up with PPA for their free insurance before a trip this summer, though I'm not sure how good their coverage is, haven't had time to read the gobbledygook details.

Supposedly my farmers home insurance covers things as well (as long as I don't use them professionally) but my agent is not the brightest candle, he never could figure out if they offer some special rider.

http://www.ppa.com/ins​urance (external link)


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OuttaCtrl
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Oct 15, 2013 17:41 |  #6

The price of $132 will be added to the premium from my other business. Yes, my other business currently has:

General Liability
$2,000,000 General Aggregate
$2,000,000 Products/Completed Operations Aggregate
$1,000,000 Personal & Advertising Injury
$1,000,000 Each Occurrence
$300,000 Fire Damage (Any One Fire)
$5,000 Medical Payments (Any One Person)

Deductible at $250


Cameras: 5D III Gripped | 1D MK 3 | 70D
Lens: 18-135 STM | 24-70 L MKII | 70-200 L IS MKII
PC: i7-3930K | 32GB Kingston Hyper-X | nVidia Quadro 4000 | Asus P9X79 Pro | 27" Samsung SA monitor | 34" LG 34UM95-P | Spyder 4 Elite

  
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gotglade
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Oct 16, 2013 03:26 |  #7

OuttaCtrl wrote in post #16373815 (external link)
The price of $132 will be added to the premium from my other business. Yes, my other business currently has:

General Liability
$2,000,000 General Aggregate
$2,000,000 Products/Completed Operations Aggregate
$1,000,000 Personal & Advertising Injury
$1,000,000 Each Occurrence
$300,000 Fire Damage (Any One Fire)
$5,000 Medical Payments (Any One Person)

Deductible at $250

Sounds like a steal to me! I'd get it!


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OuttaCtrl
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Oct 16, 2013 08:33 |  #8

gotglade wrote in post #16374826 (external link)
Sounds like a steal to me! I'd get it!

Yes I've decided to add it when I renew my policy.


Cameras: 5D III Gripped | 1D MK 3 | 70D
Lens: 18-135 STM | 24-70 L MKII | 70-200 L IS MKII
PC: i7-3930K | 32GB Kingston Hyper-X | nVidia Quadro 4000 | Asus P9X79 Pro | 27" Samsung SA monitor | 34" LG 34UM95-P | Spyder 4 Elite

  
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jskaggs72
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Oct 17, 2013 19:58 |  #9

Where did u get that from I'm interested. Has it worked out for you?


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Fernando
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Oct 18, 2013 14:56 |  #10

phantelope wrote in post #16373811 (external link)
Supposedly my farmers home insurance covers things as well (as long as I don't use them professionally) but my agent is not the brightest candle, he never could figure out if they offer some special rider.

I wouldn't count on that Homeowners Insurance for your equipment. As a general rule HO insurance covers something like that in the same way as any other loss so you're looking at a 1% deductible (or more) and coverage limits.

I've recently purchased a separate Inland Marine policy for my equipment (cameras and thinks that go bang) and my wife's valuables. $300/yr for about $22K of coverage. $0 deductible.

Getting it covered right isn't cheap. We're only paying $829 for our main HO Policy.


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OuttaCtrl
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Oct 18, 2013 15:04 |  #11

jskaggs72 wrote in post #16379178 (external link)
Where did u get that from I'm interested. Has it worked out for you?

My business insurance is Snapps and Associates and I requested them to include the additional coverage for my camera equipment at the next policy renewal.


Cameras: 5D III Gripped | 1D MK 3 | 70D
Lens: 18-135 STM | 24-70 L MKII | 70-200 L IS MKII
PC: i7-3930K | 32GB Kingston Hyper-X | nVidia Quadro 4000 | Asus P9X79 Pro | 27" Samsung SA monitor | 34" LG 34UM95-P | Spyder 4 Elite

  
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brit84
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Oct 18, 2013 16:41 |  #12

mine (BC Canada) Came in at 858/yr for 2 mil liability and gear replacement, and a buch of other stuff that would apply to a commercial building etc.


5DIII/grip |5DII/grip | 40D/grip | 17-40L| 24-70L 2.8 II|70-200L IS f2.8 II | 580EXII x2 | Lensbaby composer | Benro 358 w/ Q3 | 2 Einsteins/Vagabond mini.
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the ­ flying ­ moose
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Oct 18, 2013 22:27 |  #13

brit84 wrote in post #16381449 (external link)
mine (BC Canada) Came in at 858/yr for 2 mil liability and gear replacement, and a buch of other stuff that would apply to a commercial building etc.

I am also in BC Canada. Which company did you go with? And does your replacement policy cover actual value or what its worth when it got broken or stolen?




  
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