Equipment Insurance

Discussion in 'Photography Beginners' Forum' started by Reed029, May 17, 2007.

  1. Reed029

    Reed029 TPF Noob!

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    I was just wondering if anyone has insured their equipment. I'm really stupid when it comes to that stuff, but wonder if it's possible or worth it.
     
  2. Big Mike

    Big Mike I am Big, I am Mike Staff Member Supporting Member

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    My equipment is covered under my home owner's policy...even when it's not in my home. The problem with that, is that I have a high deductible on my house policy ($500 or something like that) so claiming most photo gear would not be worth it.

    To fix that problem, I have a rider on my policy, specifically for my photo gear. I give them a list of my gear and the deductible for that gear is $25. It adds a bit to the cost of the insurance, but the peace of mind is worth every penny IMO.
     
  3. PNA

    PNA TPF Noob!

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    I agree with Mike.....I also have a rider w/o a deductible and it is "peace of mind".
     
  4. gryphonslair99

    gryphonslair99 Been spending a lot of time on here!

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    I also carry insurance on my equipment. Mine however is not on my homeowners. It is a seperate policy with full covereage against, loss, theft and damage. It runs me approximately $10 per $1000 worth of equipment.

    I would personally advise against getting a rider on your homeowners insurance and instead contact your agent about a seperate policy. If it is part of your homeowners you deductable is going to kick in and any claim goes agaist your home owners insurance. A couple of bad years with storm claims and a lost lens could bump your deductable up quite high. Just my 2 cents here.
     
  5. PNA

    PNA TPF Noob!

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    Point worth considering.....:thumbup:
     
  6. Big Mike

    Big Mike I am Big, I am Mike Staff Member Supporting Member

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    Good point.

    I'm going to need a separate policy once I start a business anyway.
     
  7. gryphonslair99

    gryphonslair99 Been spending a lot of time on here!

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    Most definately. My policy is $10.00 a year for every $1,000.00 in gear. That rate is because I am a hobbist and not doing this for a living. Buisness insurance will cost more.
     
  8. usayit

    usayit No longer a newbie, moving up!

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    Mine is covered under homeowner's insurance for now.... anyone can point us in the direction of a company that will write seperate policies for the photographic equipment?
     
  9. gryphonslair99

    gryphonslair99 Been spending a lot of time on here!

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    Call your the insurance company that has your homeowners insurance. I use State Farm and this is something they have done for a long time.
     
  10. bytch_mynickname

    bytch_mynickname TPF Noob!

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    Do you know what they call the policy? My stuff is just covered under homeowners but I would like it to be covered separtely as well. I asked my insurance company about a separate policy for photo gear and they looked at me like I was crazy. I use Nationwide but we do have a State Farm agent here that I could go to for a separate policy if I knew what it was called. $10 a year for every $1000 is cheap, I would glad pay that and even more. Thanks.
     
  11. Holy Ghosted

    Holy Ghosted TPF Noob!

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    I do not own a home but I have renters ins from state farm that covers all my gear including my laptop and all the contents of our home it all cost me 12 bucks a month
     
  12. gryphonslair99

    gryphonslair99 Been spending a lot of time on here!

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    Sorry, I don't have a name for it. I just called my agent and told them what it was that I wanted to insure and they told me what I needed to get to them. I did have to give them a copy of the purchase receipt for each piece of equipment. The big stuff that is, camera bodies, lenses etc. I also provided them with serial numbers of all of those items as well. Now I have a fast record in case of theft.

    It's pretty much like insuring a painting or anything else for that matter. Just a seperate policy for what it is you wanted.
     

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