Is your gear Insured?

table1349 · Dec 17, 2007

TDSapp said:
State Farm add on.

$1.70 per $1,000.00 of covered value.
$0.00 deductable full replacement

It's cheaper if you don't make any money off the equipment. Since I do charge for photos then I had to cover it at the "professional" rate.

Tim

Same here for me. State Farm. $1.70 per $1,000.00 of covered value. $0.00 deductable, Full replacement. This is not a rider policy to my homeowners policy. It is called a Personal Articles policy. Below is from State Farms web site(my highlight in red) A claim on this will not effect your homeowners policy, rates or deductible as it will if you cover your gear under your homeowners.

Personal Articles

You may have more valuable possessions than you realize. Your Homeowners Policy can provide some coverage, but with deductibles and limitations. A Personal Articles Policy can provide the additional coverage that you may need. Some items the Personal Articles Policy may cover are:

Jewelry
Furs
Cameras
Musical Instruments
Silverware/Goldware
Golf Equipment
Fine Art (such as paintings, vases, antique furniture, oriental rugs, rare glass, and china)
Collectibles
Sports Equipment
Computer Equipment

http://www.statefarm.com/insurance/other/personal.asp

skieur · Dec 17, 2007

Another approach is to simply work a replacement schedule into most of your equipment and only insure the hard to replace stuff. A digital camera is close to obsolete after 2 to 3 years. Given capital depreciation, unless you have to replace a brand new item, it should not be a crippling loss.

I have been lucky so far. No loss, theft, damage or mysterious disappearance. In one case my trunk popped open and stayed that way with a few thousand worth of equipment in the open. Everything was still there when I got back to the car, but small town Canada, eh?

skieur