Insurance
- Thread starter Nero
- Start date
Browncoat
Senior Member
I have a blog post on this exact topic: How to Insure Your Camera and Equipment
Do yourself a favor and get an Inland Marine policy. Any major insurance carrier will be able to provide you one. These policies offer FAR more protection while traveling than what your homeowner's coverage will provide.
And guys, trust me on this. I used to be a licensed insurance agent.
Do yourself a favor and get an Inland Marine policy. Any major insurance carrier will be able to provide you one. These policies offer FAR more protection while traveling than what your homeowner's coverage will provide.
And guys, trust me on this. I used to be a licensed insurance agent.
Nero
Senior Member
I'll read the blog post in a bit. Is this policy expensive?
Browncoat
Senior Member
No.
It's going to vary depending on the total amount of equipment you want to insure, and what deductible you go with ($500 vs $1000 for example). But generally speaking, you should be able to insure $10,000 worth of camera gear for about $200/yr or less.
[EDIT]
Also, to add a rider onto your homeowner's or renter's insurance to increase the coverage limits on camera gear will cost about the same. The advantages of an Inland Marine policy are:
1) They provide more coverage for use away from home and during travel. This policy is specifically designed for this purpose.
2) If you do file a claim, it doesn't count against your homeowner's or renter's policy.
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Browncoat
Senior Member
Yeah, you could do that if you really wanted to.
The insurance company is going to require payment to bind coverage, and because of the low premium amount, most are going to want the full year's worth up front. Request a monthly payment plan to reduce your cash outlay, but some companies may not have a monthly payment option for this type of policy. Then you can simply cancel it when you get home. Even if you pay for the full year, you'll just get a refund check for the difference (which would be near the full amount if you only keep it for a week).
If that's the option you're really considering, then I don't know that I would recommend taking out a new policy.
Your current homeowner's/renter's insurance provides X coverage for electronics. Call your agent or look at your policy declarations page to find out how much coverage you have. Look for a section in your policy called SECTION C, which lists personal property. Find the Electronics listing, which is likely $3,000 or $5,000.
Your best bet with insurance is always to contact your local agent if you have coverage questions. Especially in your case, since Canadian law may be entirely different.
The insurance company is going to require payment to bind coverage, and because of the low premium amount, most are going to want the full year's worth up front. Request a monthly payment plan to reduce your cash outlay, but some companies may not have a monthly payment option for this type of policy. Then you can simply cancel it when you get home. Even if you pay for the full year, you'll just get a refund check for the difference (which would be near the full amount if you only keep it for a week).
If that's the option you're really considering, then I don't know that I would recommend taking out a new policy.
Your current homeowner's/renter's insurance provides X coverage for electronics. Call your agent or look at your policy declarations page to find out how much coverage you have. Look for a section in your policy called SECTION C, which lists personal property. Find the Electronics listing, which is likely $3,000 or $5,000.
Your best bet with insurance is always to contact your local agent if you have coverage questions. Especially in your case, since Canadian law may be entirely different.
I think if I were the insurance guy and you asked me that, I'd send you elsewhere. I don't think they want to write a policy for a week
.Mine covers accidental damage/loss in addition to theft. If I drop it in a lake it's replaced 100%. So there is reason to keep it year round beyond just the risk of theft.