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<blockquote data-quote="Browncoat" data-source="post: 16353" data-attributes="member: 1061"><p><em>(I am a former licensed P&C insurance agent)</em></p><p></p><p>Mr. Bautsch did an excellent job of covering the bases.</p><p></p><p>The best thing you can do is <strong>check with your insurance agent</strong>. The answer here will depend on <em>how</em> and <em>where</em> you use your equipment. If you are deriving income from your photography, the answer is simple: get a separate commercial policy.</p><p></p><p>Odds are, your current homeowner's policy has coverage for your gear against <em>named perils</em>. These are things specifically named by your insurance company as acts of God, disaster, etc. and covered under the "contents" portion of your policy, to which a deductible applies. As a general rule, your gear would even be covered away from your home, and in your car...which incidentally, does not cover theft, that would fall under your auto policy. The "contents" portion of your policy likely details how much coverage is offered for photo/video equipment. Usually, most standard policies do not exceed $5000 for gear.</p><p></p><p>Ask your agent about a policy rider if you feel you do not have enough coverage. With a rider, you can name specific items, their value, and often increase what <em>perils</em> they are covered under. And as Mr. Bautsch said, there are always separate policy options if the rider proves to not provide enough coverage. Inland Marine is another choice, but yes, it can be quite expensive unless you have a substantial investment in your equipment.</p></blockquote><p></p>
[QUOTE="Browncoat, post: 16353, member: 1061"] [I](I am a former licensed P&C insurance agent)[/I] Mr. Bautsch did an excellent job of covering the bases. The best thing you can do is [B]check with your insurance agent[/B]. The answer here will depend on [I]how[/I] and [I]where[/I] you use your equipment. If you are deriving income from your photography, the answer is simple: get a separate commercial policy. Odds are, your current homeowner's policy has coverage for your gear against [I]named perils[/I]. These are things specifically named by your insurance company as acts of God, disaster, etc. and covered under the "contents" portion of your policy, to which a deductible applies. As a general rule, your gear would even be covered away from your home, and in your car...which incidentally, does not cover theft, that would fall under your auto policy. The "contents" portion of your policy likely details how much coverage is offered for photo/video equipment. Usually, most standard policies do not exceed $5000 for gear. Ask your agent about a policy rider if you feel you do not have enough coverage. With a rider, you can name specific items, their value, and often increase what [I]perils[/I] they are covered under. And as Mr. Bautsch said, there are always separate policy options if the rider proves to not provide enough coverage. Inland Marine is another choice, but yes, it can be quite expensive unless you have a substantial investment in your equipment. [/QUOTE]
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