Camera Gear Insurance

[table1349]

I have a what is called a separate articles policy. Totally separate from my homeowners insurance. Covers theft, misplacement/loss and plain ole butterfingers. No deductible and cost about $12.00 per year for every $1,000.00 of gear.

The best part is any claim does not effect my home owners insurance or the rates.

 

[Rosshole]

I have personal property insurance on my gear with state farm, I gave them an itemized list of what I have and what I paid for it, totaled at $7k, I pay about $140 a year for it to be insured. If I drop it, it gets stolen or if it gets attacked by North Korea State Farm will give me the cash I claimed it to be worth.

I just insured my gear with rider from my home owners. $50 a year for $2500 of coverage.

I've got a rider on my homeowner's, and I pay 1.4% declared value annually, $154 on $11K. That covers anything that happens to it.... stolen, dropped, tripped on, run over, and, yes, North Koreans.

Another point that has been brought up on this subject was that if you made a claim, your homeowner's premium would go up, so I called my agent.... the answer I got was that the annual percentage of the rider would increase, not the primary premium. To me, this is well worth it should I happen to butterfinger a $4K rig.

I have a what is called a separate articles policy. Totally separate from my homeowners insurance. Covers theft, misplacement/loss and plain ole butterfingers. No deductible and cost about $12.00 per year for every $1,000.00 of gear.

The best part is any claim does not effect my home owners insurance or the rates.

There are a few things to take into consideration when insuring camera gear. First, if it is used for a business, there is going to be very limited coverage under your homeowners/renters policy because it is business personal property (endorsement or not). Second, with an endorsement for your camera gear, you gain a nice feature (accidental breakage) and lose an important feature (replacement cost). The difference between what it is worth and what it actually costs to replace for most would outweigh the breakage coverage.

Bottom line, make sure that you ask your agent the correct questions.

 

[phototrek]

Thanks guys. I have insurance for my gear for the last 5 years. I need to add more gear to the list I already insure. All my gear is L lenses and pro cameras. Just wondering if it was still worth it to pay for the insurance. Now with the new gear being added it will cost me more money per year. I insurance has replacement cost if it is stolen. I have to check if I am covered for accidental breckage.

 

[Rosshole]

Remember, coverage can be denied if it is business personal property, and unless you want accidental breakage coverage, you do not normally need an additional endorsement.