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FORUMS Photography Talk by Genre General Photography Talk 
Thread started 28 Apr 2009 (Tuesday) 13:35
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Equipment Insurance help

 
Exposure101
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Apr 28, 2009 13:35 |  #1

I'm looking into getting insurance for my gear (just about $4k worth). I called out insurance agent at Allstate and was quoted $10 a year (rider on the home policy). The thing is that the deductible would be $1000 and if we make a claim we would lose whatever discount we have on our current home policy. Also, the rider only covers theft.

I'm only thinking about getting insurance for the peace of mind. But the rider option doesn't seem worth it to be. I've looked at other photographers-specific companies but they're pretty expensive as well ($500-600 a year). I'm not a professional so this is just a hobby. Can you guys recommend any other way/companies to go about this?




  
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number ­ six
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Apr 28, 2009 14:43 |  #2

I also have Allstate and I've been talking to the agent about this. They offer a "valuable personal articles" rider to homeowner's insurance that's zero deductible and covers all risks. It's commonly used for cameras, jewelry and other small valuable items. It requires itemization with receipts.

According to the agent, that is. But she's got me a little nervous - she seemed pretty clueless and had to call the underwriting department before she could tell me what coverage is available.

Are we seeing something common about Allstate? Could be.

I didn't follow through with this because I don't trust what I'm hearing. Not that I think she's lying, just that she doesn't seem to know much about anything except auto coverage.

A number of POTNers have reported good experiences with State Farm. I think I'll see what they can offer me in a standalone policy. Which would have the advantage of being separate from my homeowner's policy.

-js


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chauncey
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Apr 28, 2009 14:45 |  #3

State Farm has my renters policy, photo gear and guns as riders.
Told them that I wanted a "stupid policy", meaning if I drop it off a cliff or the dog eats it or anything else, they replace it.

Can't tell you the cost, don't remember, but it was relatively inexpensive.


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number ­ six
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Apr 28, 2009 14:46 |  #4

OK, time to call State Farm! Thanks for the info, Chauncey.

-js


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adam8080
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Apr 28, 2009 14:47 |  #5

State farm here as well. Recently had to make a claim and everything was easy and smooth.


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number ­ six
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Apr 28, 2009 14:48 |  #6

I'm liking what I'm hearing.

:cool:


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cory1848
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Apr 28, 2009 14:51 |  #7

If you are using your gear for business purposes at all, forget the home rider. Also with a home rider, you are risking your home owners insurance policy by making any claim. Is your policy worth a claim of $1000 if something happens to your gear?

I live in Florida and the answer to that is, Not a chance.


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number ­ six
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Apr 28, 2009 15:08 |  #8

cory1848 wrote in post #7820382 (external link)
If you are using your gear for business purposes at all, forget the home rider. Also with a home rider, you are risking your home owners insurance policy by making any claim. Is your policy worth a claim of $1000 if something happens to your gear?

I live in Florida and the answer to that is, Not a chance.

That's why I'm thinking of a standalone policy with another company...

-js


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cory1848
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Apr 28, 2009 15:35 |  #9

number six wrote in post #7820484 (external link)
That's why I'm thinking of a standalone policy with another company...

-js

Just make sure its a commercial policy if your making money. Mine is $2.10/$100 equipment worldwide through Marsh Affinity.


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Exposure101
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Apr 28, 2009 18:34 |  #10

number six wrote in post #7820331 (external link)
I also have Allstate and I've been talking to the agent about this. They offer a "valuable personal articles" rider to homeowner's insurance that's zero deductible and covers all risks. It's commonly used for cameras, jewelry and other small valuable items. It requires itemization with receipts...

-js

Yeah it's weird. I even asked if there was any other program/policy that would require zero deductible and won't increase the home insurance rate and she said no. Obviously I would rather pay more than risking the things mentioned above.

Anyhow, thank you everyone for the replies. Looks like State Farm is worth checking out so I will give them a call and see. Thanks again for all the help! :)




  
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Exposure101
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Apr 28, 2009 18:50 |  #11

I just called State Farm and got a quote for a stand alone policy (personal articles policy). For $4,000 worth of equipment, it's $69 a year with no deductible and it doesn't matter if you use it professionally or not (not sure if that means it includes businesses as well). Coverage will pretty much be based on fair market value which isn't bad at all. I think I'm just gonna go with them when I receive my gear.




  
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number ­ six
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Apr 28, 2009 19:17 |  #12

Exposure101 wrote in post #7821625 (external link)
I just called State Farm and got a quote for a stand alone policy (personal articles policy). For $4,000 worth of equipment, it's $69 a year with no deductible and it doesn't matter if you use it professionally or not (not sure if that means it includes businesses as well). Coverage will pretty much be based on fair market value which isn't bad at all. I think I'm just gonna go with them when I receive my gear.

What do they require for documentation? Allstate told me I had to have receipts for everything, which isn't always possible.

-js


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adam8080
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Apr 28, 2009 19:17 |  #13

Who ever told you that doesn't have their facts straight. It does matter if you use your gear professionally. With State Farm anyways.


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Exposure101
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Apr 28, 2009 19:21 |  #14

number six wrote in post #7821772 (external link)
What do they require for documentation? Allstate told me I had to have receipts for everything, which isn't always possible.

-js

You do need to show proof of purchase (receipts). I think it's just a one time thing just so they know how much you bought the gear for. I bought my camera on amazon so I can just print out an invoice. If you purchased your stuff from a store you could ask them to send you a copy of the invoice as proof.




  
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Exposure101
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Apr 28, 2009 19:23 |  #15

adam8080 wrote in post #7821773 (external link)
Who ever told you that doesn't have their facts straight. It does matter if you use your gear professionally. With State Farm anyways.

Yeah I wasn't sure what she meant so I stated it wasn't clear. It's just so that anyone interested in it can be sure to ask for clarification if it's for their business.




  
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Equipment Insurance help
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