Camera Insurance

[Cullen74]

I'm getting ready to buy a camera. How does insurance for cameras work? Can anyone recommend an insurance company? Is a camera covered through homeowners insurance? Could it be covered under a production insurance policy? Does a standard policy offer international coverage--I will be traveling a great deal w/ my camera? What's a typical policy run per year for a 30K camera package? What does it cover? Any help or advice is greatly appreciated.

 

Many Thanks,

Cullen

[Mitch Gross]

There are a few options. First off, know that your homeowner's policy specifically will NOT cover a business item such as your camera unless you get an additional rider, and even that would only cover the gear while it was sitting in your home. For any production you should get the client to provide insurance, listing you as a LOSS PAYEE for the FULL REPLACEMENT VALUE of the gear, for which you should provide an itemized list complete with serial numbers and down to the last cable & screw. If you want to get your own equipment insurance, you can contact an industry company such as D.R. Reiff. Such policies generally have a deductible anywhere from $1000-$2500 and an annual premium of 1.5% of the value of the gear, so $100,000 of gear would cost $1500. But most insurers have a minimum, so even though you only have $30k to protect, look to spend around $1000 for insurance (but you might get a lower deductible for that). Lastly, for international travel it is important to also get something called a CARNET, which is essentially an agency swearing to all the governments of the world that you own this gear and did not buy it in one country to bring into another to avoid tariffs & duty. This is in addition to any insurance.

[Cullen74]

Many thanks. In essence, I'll be the client. Is there anyone out there who could recommend any additional insurance companies that they use to insure their camera packages?

 

Many Thanks,

Cullen

[Peter J DeCrescenzo]

Hi Cullen: If you're in the US, just an FYI: I have business insurance through St. Paul Travelers (customer service 888-661-3938, toll-free). They call it a "Store Pac / Photo Studio" policy. My current policy renews in June for $800 per year (it was less last year). It covers $40K worth of gear and includes coverage for up to $2M worth of liability, up to $300K damage to rental premises, and up to $5K/person medical. It's valid thoughout the US, but I don't know if it includes any international coverage (I doubt it; I don't work outside the US, so this isn't a concern for me).

 

I got this policy a few years ago by joining WEVA.com , but I don't know if WEVA membership is currently required or results in a discount.

[Miklos Philips]

I've used SafeWare (http://www.safeware.com/) , which has been traditionally a computer insurance firm but they recently gave me a quote that covered my Digital Camera as well for around 400 / yr. Insured against theft, crashes, any kind of loss even when in transit - i.e. to and fro location. BUT! Better check it all out yourself and read the fineprint. I have not signed up with them yet and have yet to do my own due diligence.