Why is insurance so friggin' expensive?

mike_d wrote in post #10090388
How do you insure discontinued items like the 5D? Do you insure it for the current price for a used one on a site like keh.com or do you insure it for the price of a new 5DmkII and pay the extra premium?

And to complicate it more, a 5D on the policy has been converted. So it would be the cost of the camera plus the conversion. I assume a replacement value policy would take care of all that.

Wish my car insurance was $485. I pay more for 6 months without any ticket etc for 20 plus yrs.

I thought most commercial insurances with $2 million liability were like $700-$1000 per yr. Seems quite decent to me for the protection it provides.

CannedHeat wrote in post #10087950
I got my renewal bill yesterday. $458.00! It's a commercial inland marine policy. I pay about the same amount for two cars! And the cars have greater liability!

$458 to insure 2 cars? Where do you live? I pay just over $500 for one car.

bobbyz wrote in post #10091049
Wish my car insurance was $485. I pay more for 6 months without any ticket etc for 20 plus yrs.

I thought most commercial insurances with $2 million liability were like $700-$1000 per yr. Seems quite decent to me for the protection it provides.

No liability. I don't do weddings, portraits, etc.

HappySnapper90 wrote in post #10091264
$458 to insure 2 cars? Where do you live? I pay just over $500 for one car.

That's an rough guess. My wife and I pay about $650 for three cars. I was estimating what my 2 cars would cost.

Depends where you live. When I left Calif. 25 years ago I was paying more for one car than I now pay for three. I can only imagine how high it would be in calif. now!

CannedHeat wrote in post #10091895
That's an rough guess. My wife and I pay about $650 for three cars. I was estimating what my 2 cars would cost.

Depends where you live. When I left Calif. 25 years ago I was paying more for one car than I now pay for three. I can only imagine how high it would be in calif. now!

I pay $400/annum for my car insurance here in the Philippines. your insurance is cheap..wow!!

I am having a really difficult time finding an insurance company willing to insure photo gears. It seems like it doesn't exist here in our country.

CannedHeat wrote in post #10091895
That's an rough guess. My wife and I pay about $650 for three cars. I was estimating what my 2 cars would cost.

Depends where you live. When I left Calif. 25 years ago I was paying more for one car than I now pay for three. I can only imagine how high it would be in calif. now!

I'm in SoCal and pay about $1800/yr for two cars, two drivers, both in our 30's with clean records.

I pay about $1400 a year to fully insure my equipment and for liability insurance.

My cheap rates may have to do with being older, too. After all, insurance companies know all you young folk are raving, dangerous lunatics!

CannedHeat wrote in post #10092739
My cheap rates may have to do with being older, too. After all, insurance companies know all you young folk are raving, dangerous lunatics!

I'm 55?

Most of my work is on location. I am fully covered. We have all of our computers and other office equipment under the same business policy.

airfrogusmc wrote in post #10093048
I'm 55?

Most of my work is on location. I am fully covered. We have all of our computers and other office equipment under the same business policy.

I think it's the liability and commercial property that is causing your high price.

I specifically asked them not to cover liability. My renewal notice says I am not covered for:
- commercial property
- commercial general liability
- commercial crime

I am covered for:
-commercial inland marine.

But now I'm wondering about that Commercial Crime. I specifically told the agent I did want to be covered if my car was broken into while I was off shooting in the wilderness.

I'm wondering if Commercial Crime would exclude that, or if CC actually relates to break-ins of commercial property; i.e., an office. Any insurance agents out there who can answer?

CannedHeat wrote in post #10093088
I think it's the liability and commercial property that is causing your high price.

I specifically asked them not to cover liability. My renewal notice says I am not covered for:
- commercial property
- commercial general liability
- commercial crime

I am covered for:
-commercial inland marine.

But now I'm wondering about that Commercial Crime. I specifically told the agent I did want to be covered if my car was broken into while I was off shooting in the wilderness.

I'm wondering if Commercial Crime would exclude that, or if CC actually relates to break-ins of commercial property; i.e., an office. Any insurance agents out there who can answer?

We had to do a marine policy because of all the stuff on location and I have to have liability to work in some of the places I work in.

Mine is $197 per quarter. I have liability coverage, also. I also have to have enough coverage to cover anything I might rent. When I rented the 400 2.8, the rental house required me to name them as a loss payee on that lens and provide proof of insurance. I don't think this is unreasonable. Insurance sucks, but not having it and needing it will suck! However, having it and NOT needing it is better.