Camera Insurance

[benjyman345]

Hello,

After having an accident with my last camera I thought it might be a good idea to insure my new camera equipment as well as laptop.

I would be looking for theft and accidental damage cover.

I have done a search and I know their is a lot of topics on insurance but I want to make sure I get everything under control before dealing with any insurance companies. As far as I'm concerned insurance is like gambling but you never win.

Any info and tips will be welcome.

The issue is I will be away from home for an extended period (domestic holiday) so want to make sure everything is covered and their are no loop holes.

I will have to check whether home insurance (under a different person in the family) will cover while I'm away. I will be staying in a friends granny flat, but will have my own private set of keys - it is NOT a share home.

Note: The camera will be insured under a different person (family member at home resident which I live at, but will not be with me while on holiday), will this be an issue considering I will be mainly using the camera as well as being away from home?

Does anyone know the situation if your camera or equipment is stolen from the boot of your car? (I doubt car insurance would cover) but how about home or personal items insurance?

Obviously it is not a good idea leaving the camera in the car but it is much better in the beach then say out on the beach or at a picnic lunch etc...

My other concern is I do have an ABN (Australian Business Number) as a sole trader in photography. I required this for a one off situation and am not currently doing or planning on doing any photographic business in the near future. Will this situation create a possible loophole for the insurance to weevil out saying I am a Professional photographer in business?

Photography is a hobby and I do not make any money.

When insuring a camera and equipment are their any common loopholes I should be aware of?
For example Is water damage covered or dropping the camera, location of theft, camera user etc...

I know this post is quite extensive but I am sure their are other things I have missed or will need to add to my queries.

I'm also aware that no one can give me direct advice on choosing insurance or a plan, but I'm sure others on here have dealt with insurance issues and will have a greater idea of what to look out for and to expect.

Sorry for such a long post.
Thanks Heaps!

P.S. I will record down all the equipment and serial numbers as well as keeping the receipt safe (and an electronic copy too)

 

[ann]

In the US and with my insurance company it is very straight forward. I have a "rider" on my home owners policy. I have to provide receipt for the equipment. It covers lost including breakage, but only at the price paid orginally (unless i update with ongoing reviews of current cost; which for the m ost part is a decline invalue, except for LF lenses)

 

[pgriz]

You can insure photography equipment as part of your domestic policy if you store it at home. If you don't itemize it, your coverage may be capped by whatever generic caps exist for electronic/photographic equipment. You'll need a separate rider if you have it in your car. Both don't apply if you do anything with your gear that is business-related. In that case, you need a separate rider (with an itemized list, complete with serial numbers and purchase receipts) in your business insurance policy. Since you're in Australia and I'm in Canada, I don't know if my experience is relevant to you. However, I've had photographic gear stolen from my car (smash and grab), and I know of two professional photographers who also had gear stolen (from car, and from house). In my case, my coverage for personal equipment was voided by the fact that I also use it for business, and I needed to have a specific rider added to my business policy that covered that equipment. In the case of my photographer friends, they DID have their equipment itemized and covered by business insurance, but were offered only depreciated amounts for their equipment (in one case about 10% of the replacement value, and in the other about 50%). Both are still fighting for "fair" reimbursement, a year or so after the events. So the lesson is that you have to have everything itemized, and you need to make sure that your policy is for "replacement" value.

 

[table1349]

This is not an endorsement of State Farm, but this is what you are looking for. A Personal Articles Policy. Personal Articles Any large reputable insurance company is going to have something similar. I am paying about $13.00 a year for every $1,000.00 worth of coverage for my gear. Covers theft, loss, like if I have a brain fart and just leave is somewhere and good old fashion butter fingers and drop it or damage it. Plus a claim does not go against your homeowners insurance with this separate policy.