Insurance vs a safe

I have looked into insurance and it will run me about $350/ year.

I am debating getting a large fireproof safe that will bolt to my floor.


This way I would not need insurance. Is anyone already doing this to avoid insurance payments?

i dont think that your gear is heat proof.. i have a fire proof safe for my important documents, and such. but i wouldnt keep gear in it.

might as well insure your gear. its a long with my renters insurance. and thats 14 dollars a month. it protects it from damage, earthquake, theft, fire and flood.

so not too shabby.

shan

It's not really an either/or proposition. Fireproof safes have a temperature rating that is higher than the melting point of most plastics. In the case of gun specific safes they will keep the metal portion of the firearm in usable condition but in a large fire the plastic parts will have to be replaced.

microman23 wrote in post #5286742
I have looked into insurance and it will run me about $350/ year.

I am debating getting a large fireproof safe that will bolt to my floor.


This way I would not need insurance. Is anyone already doing this to avoid insurance payments?

You must have a ton of equipment. I know what I have and mine runs at about $200 a year. A safe can still be stolen. Then what?

Just get the insurance.

It is so expensive because I run a business.

good point about the melting...

Then use that $350 as tax deductible because it is a business expense.

Jeff Allred wrote in post #5286871
Then use that $350 as tax deductible because it is a business expense.

good call

Looked into it, $400 a year for me but that includes my fiancee's stuff etc. Not bad considering that's the price of my cheapest lens, save the nifty of course.

Remember, insurance covers your gear when you're out with it as well as when it's at home. Tried wheeling a large safe onto the airplane as you head off on vacation?

Jon wrote in post #5287109
Remember, insurance covers your gear when you're out with it as well as when it's at home.

Exactly! I'm much more worried about what could happen to my stuff when I'm out and about than when I am at home.

I think it really depends on what you are trying to accomplish.

If it's insurance, are you referring to additional home insurance, or business insurance?
I'm in the process of purchasing business insurance, which covers a theft as well as any accidents that happen on location.

A safe will deter a burglar from stealing your equipment within it, but that thief is also in your home and has access to all your other personal items. I'm assuming you also have a home alarm system?

I pay $700NZ per year to insure $20,000 of camera stuff.
Ive collected once for a dropped Nikon 80-400 VR lens which cost $1100 to fix.
Over 10 years Ive paid probably arond $5000.00
So the insurance guys are ahead.
In hindsight, I would have been better off putting money into a savings account.
So far....

NZDoug wrote in post #5287291
So the insurance guys are ahead.

They're ALWAYS ahead!

I don't know what your gear is that you use, but honestly I don't see how you could think that paying $350 a year is a large price to pay. Breakage, theft, fire, etc are all risks to your equipment. Then the other issue is liability. I would only hope that liability insurance is included in that policy as well. If it isn't then you might want to change agents. If someone steps on one of your lightstands and the thing comes tumbling down on a grandma and results in her having to go to the hospital who is responsible? You and your equipment that is now broken and uninsured. I am not trying to be harsh with this, but thinking of buying a safe vs. insurance cannot be in your (or anyone else's) best interest. Pay the money and that should put your mind at ease. I am guessing most people would be a wreck if they were not insured while working.

Jon wrote in post #5287109
Remember, insurance covers your gear when you're out with it as well as when it's at home. Tried wheeling a large safe onto the airplane as you head off on vacation?

And someone was complaining on another thread that their backpack with gear was heavy.