Professional/general liability and more robust equipment insurance recommendations?

[studio460]

I read this post on another thread, and have quoted it here, hoping the original author will respond:

. . . in my opinion as someone starting out (read: you don't have $40,000 of studio equipment to insure), would be either Hiscox or Hill & Usher . . . Expect to pay very close to $500 annually for $1 million in liability coverage and good coverage on damage/theft of your gear.

You can google either "Hiscox photographers insurance" or you can call Hill and Usher at 866-977-4725, ask for Danielle and tell her that James Jenkins from Dallas, Texas told you to call her. She'll take great care of you. She's one of the senior account reps there.

How would you compare those polices to the following? A $1 million ($2 million, aggregate) general liability policy, including E&O (errors and omissions), plus $15,000 of equipment coverage can be had for only $325/year from Willis Insurance brokers, with a valid Photo.net membership ($25/year). Second shooters or assistants can be covered for an additional $60 per year. E-mailed requests for loss/payee, named certificates of insurance are faxed to the venue of your choice within 24 hours. Additional equipment coverage can be bought for $10 per $1,000 of scheduled equipment, but only covers theft by "forced entry," and not robbery or "mysterious disappearance." This does include theft from vehicles, however (which some polices don't cover). Here's a PDF of the details: http://photo.net/info/photo_insurance_specs.pdf

I used to carry this policy, but let it lapse recently since I'm looking for more robust equipment coverage. "Mysterious disappearance" coverage tends to be extremely expensive, but I'm also very concerned about robbery (either by threat of bodily force, or a weapon). Also, Willis' "forced entry" requirement, for example, doesn't cover theft from a hotel room by someone with a key. I'm typically carrying around $15,000 worth of equipment (two $5K bodies, plus two $2K lenses) on any given day, but I'll probably insure between $20,000-$30,000 worth of gear, total. Any suggestions for similar coverage for under $1,000/year?

 

[studio460]

I just completed an online quote at Hiscox for a $1 million professional and general liability policy. The premium came to $850 ($400 for professional liability, $350 for general liability), and does not include any equipment coverage (there was no option to select any on the online form).

 

[studio460]

Instead, I just requested a quote for a Hiscox Business Owner's Policy (in lieu of the general liability policy) for "business equipment" worth up to $25,000 (my figure), but it only appears to cover "accidental damage." A separate "crime" add-on is available at additional cost which covers employee theft up to $10,000 per incident (but apparently doesn't cover burglary or robbery by people who don't work for you). The basic Business Owner's Policy premium came to $500, and only covers equipment taken out of the business location up to a maximum of $10,000. This totals to a $900 annual premium including the professional liability policy, with extremely limited equipment coverage.