# Equipment insurance



## Robert Pope (Nov 1, 2010)

I'm curious how many of you pay for equipment insurance vs. how many self-insure (not insuring it and paying for any losses yourself).

Of those who have purchased equipment insurance did the company claims reality match their sales pitch?

Any specific experiencees with Marsh specialty would be most welcome.

Thanks in advance!


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## mwcfarms (Nov 1, 2010)

For nine more dollars a month I insure my gear with a rider policy on our home insurance. I would rather pay that and a $500 deductable if I ever needed too than shell out 3 to 5 k for new gear.


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## Big Mike (Nov 1, 2010)

Yes, you might be able to have your gear covered by a home insurance policy.  When I called, they said that my gear was already covered and by adding a rider to the policy, I could have a lower deductible for my specified photo gear.

But of course, if you are a professional, your gear is probably not covered under a home policy.

To find a good policy, I'd suggest looking into a professional photographer's association. 
Member Benefits
Wedding Photojournalism - WPJA Member Benefits: Photography Forum, Photography Contests, Advertising Campaign.
and so on.


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## KmH (Nov 1, 2010)

Big Mike said:


> But of course, if you are a professional, your gear is probably not covered under a home policy.


Word!


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## mwcfarms (Nov 1, 2010)

Oh but it can be as a small business. I have checked that out too.


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## Destin (Nov 1, 2010)

State farm offers insurance that could meet your needs too. I just sent an email out earlier today inquiring about it, I'll let you know what they say.


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## DC-Photog (Nov 1, 2010)

The home owner's policy usually has very strict limits about the type of loss the amount they'll cover for photography equipment.

A separate policy that covers all of your big-ticket items is surprisingly not that expensive. My business equipment policy is from State Farm and covers all of my photography and computer equipment in my home office and anywhere on location. 

Hill & Usher offers a policy tailored for photographers. I used them before consolidating all of my insurance needs with State Farm.

I strongly recommend calling an insurance agent and discussing the options.

Also, if you're getting paid for services, you need a liability policy. 

I'm currently paying around $700/year for the equipment and liability coverage.


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## Destin (Nov 1, 2010)

Just heard back from allstate. $33 per year, or $2.75 per month will cover me against theft and accidental damage on my gear, which is valued at around $1,800 right now


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## skieur (Nov 2, 2010)

It is questionable for many, as to the usefulness of photographic equipment insurance.

After all, most cameras are obsolete in 3 years, sooner for cheaper cameras and unless you have very fast Zeiss, Leica, or specialized Canon and Nikon lenses, then it is probably not worth it.

skieur


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## spedebug (Nov 2, 2010)

I go through state farm out of Santa Barbara Ca, I attended the photography school there and they are really good about insuring equipment due to the abundance of students. I pay 30 a month, with home insurance. I dropped one of my cameras and had a check the to worth the next week. Highly recommended.


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## jcblitz (Nov 2, 2010)

Destin said:


> State farm offers insurance that could meet your needs too. I just sent an email out earlier today inquiring about it, I'll let you know what they say.



I have mine covered under State Farm. I have my laptop (Macbook Pro) and my camera gear ($1700 worth) covered for like $75 a year. I ended up having my camera gear stolen about 2 years ago and State Farm replaced it all pretty quickly. I had all my receipts from when I bought it so they gave me a check for the actual cost instead of fair market value, which was nice because my camera was 4 years old at the time.


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## IgsEMT (Nov 2, 2010)

> > Quote: Originally Posted by *Destin*
> >
> >
> > _State farm offers  insurance that could meet your needs too. I just sent an email out  earlier today inquiring about it, I'll let you know what they say._
> ...



What did you tell them?
Last I spoke with them, they said they won't cover me ON-LOCATION but only in-studio.


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## Rosshole (Nov 3, 2010)

FYI, under a HO policy for non business use, your photography equpment is covered for REPLACEMENT COST, but not for accidental damage and you must pay your deductible first.

If you want no deductible and accidental damage you can schedule them but then the are covered at acual cash value and not replacement cost.


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## KmH (Nov 3, 2010)

It varys, and post like the one above are misleading, because it doesn't say which insurer or the policy terms.

Check with your insurance agent, not an online forum.


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## Rosshole (Nov 4, 2010)

KmH said:


> It varys, and post like the one above are misleading, because it doesn't say which insurer or the policy terms.
> 
> Check with your insurance agent, not an online forum.


 
Very true, and even though the post wan't meant to be misleading, this is how our company handles Photography Equipment on our Property policies.

Also, take all online info with a grain of salt, just beware of possible nuances like the one I listed above.


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## Robert Pope (Nov 4, 2010)

Thanks for all the comments. I'm a pro so the homeowners option is out. I have liability and that outfit is offering equipment. However, I'm casting a net far and wide for options on offerings and customer service experiences.

Has anyone ever made a claim and did the insurance company please you with their customer service/claim?


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