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  1. #1
    Senior Member
    Bill16's Avatar

    please teach me about insurance needs we all should get covered!

    Hey everybody my buddy browncoat opened my eyes on the need for insurance on these expensive DSLRs and lenses and such! Well I think we all need this, and I could use some tips on what and how to get inland marine insurance! For those that don't know what this is, it's insurance on expensive things like our cameras to cover replacing them if broken or stolen and such.

    I have a question too. I have 2 D300 Nikon's, which make me a bit confused how to figure new replacement costs, when they no longer sell new. Do you upgrade the model in the insurance so you get an upgraded replacement? Also I have a another delema then. I figure the D300s would work, and still sells new I think. But what do I do when it no longer sells new. No DX really seems like an upgrade for my preferences. Do I try for a D700 replacement value?


    As you can see I could sure use some helpful advice! Please?



    › See More: please teach me about insurance needs we all should get covered!
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  2. #2
    RIP :(
    Don Kuykendall's Avatar

    Re: please teach me about insurance needs we all should get covered!

    Most insurance companies are only going to pay replacement values on the equipment you have and are not going to upgrade your equipment. I made a list of my equipment including what I paid for it when I bought it and included it as a rider on my homeowners insurance. IT does cover the equipment if I drop it or if it is stolen. I have the same coverage on my wife's rings and my guns. the full coverage on all that is not very much extra each year.
    Thanks/Like nikonpup, Bill16 Thanks/liked this post
     

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  3. #3
    Senior Member

    Re: please teach me about insurance needs we all should get covered!

    Bill

    I took out insurance with a specialist camera company. It was slightly more expensive than on the home insurance, but the cover is separated. Meaning that if I made a claim, it wouldn't affect my regular insurance. Also my house insurance had a clause that if I ever got paid anything for a shot, my photo insurance would be void.

    You should speak to your home insurance people & also look around for specialist insurers. Every company will have particular exclusions & you need to find one to suit you. In particular you need to look at what each company offers for products that are no longer available. My policy covers me for an equivalent specification, but you would need to check what each company offers. If you bought yours second hand, then they may cover you for a second hand value.
    Thanks/Like Bill16, RON Thanks/liked this post
     

  4. #4
    Senior Member
    Bill16's Avatar

    Re: please teach me about insurance needs we all should get covered!

    OK the insurance I'm talking about is separate from home or car insurance. It will do replacement value not just value at time of breakage or loss. So specs is likely what the replacement value will be based on. My question is what would I be able to replace my Nikon with if it breaks or is stolen down the road, when there is no version of D300/D300s available new?
    Anybody know what they would do then for replacement?

    PS after reading browncoat's post in the business insurance thread carguy started, I would not get insurance on my cameras through homeowners. Especially if you do any pro work at all. If you lose or break your camera on a pay job or even on the way to a pay job, homeowners insurance won't cover it. Homeowners won't cover any business use of the property at all, and there are other loopholes like that too. Whereas the inland marine insurance category covers it in all cases from my understanding, and that is why high end jewelry is often put in this type of insurance and not home owners. Either no loop holes or a lot less to worry about.
    ------------------------Tripods-------------------------------
    GITZO GT2541EX 6X carbon fiber tripod and ARCA SWISS Z1 DP ball head
    GITZO G2220 aluminium tripod and ARCA SWISS Z1 SP ball head
    ------------------------Backpacks----------------------------
    Tamrac Expedition 8X, Tamrac Expedition 8,Tamrac Expedition 5

  5. #5
    Senior Member
    carguy's Avatar

    Re: please teach me about insurance needs we all should get covered!

    inland marine insurance is what you're after from what I've read. Reach out to your current insurance company first. If they don't have it, contact others, Nationwide is what Browncoat recommended if I remember correctly.
    Joe

    D750 | 50mm f1.8G | Tamron 70-200 2.8 VC
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  6. #6
    Senior Member
    Challenge Team
    traceyjj's Avatar

    Re: please teach me about insurance needs we all should get covered!

    As I am unlikely to ever sell any of my work, I have opted to amend the house insurance. Now the camera equipment is covered "all-risks" and new-for-old replacement, with the maximum value being the cost of the D810 for when the stop selling the D800.

    I would assume in your case you would work out where the cameras fell in the lineup to get a replacement of an equivalent level... but then insurers can be tricky, and may only want to pay out on the equivalent spec (mp and feature wise) Sorry, not much help really am I
    Tracey Jones

    Everyone has a photographic Memory, some just don't have film

    my flickr
    https://www.flickr.com/photos/[email protected]/


  7. #7
    Senior Member
    JoeIskor's Avatar

    Re: please teach me about insurance needs we all should get covered!

    Quote Originally Posted by Bill16 View Post
    Hey everybody my buddy browncoat opened my eyes on the need for insurance on these expensive DSLRs and lenses and such! Well I think we all need this, and I could use some tips on what and how to get inland marine insurance! For those that don't know what this is, it's insurance on expensive things like our cameras to cover replacing them if broken or stolen and such.

    I have a question too. I have 2 D300 Nikon's, which make me a bit confused how to figure new replacement costs, when they no longer sell new. Do you upgrade the model in the insurance so you get an upgraded replacement? Also I have a another delema then. I figure the D300s would work, and still sells new I think. But what do I do when it no longer sells new. No DX really seems like an upgrade for my preferences. Do I try for a D700 replacement value?


    As you can see I could sure use some helpful advice! Please?
    lol, I remember that a situation happened to me too when I was delivering 2 cameras to my friend because I wanted to help him, but something went wrong and I got into an accident. You know, my car insurance company refused to cover anything (then I used Allstate), because, as they said, I was using my car in commercial purposes... Lol... Then I switched my car insurance company to courier insurance from these guys … ('cause I decided to become a courier) and you know, recently I had an accident, so that insurance covered me repair for car, the goods cost and even paid me compensation for the injuries I got...
    Last edited by Marilynne; 09-26-2019 at 03:13 PM. Reason: removed link

  8. #8
    Junior Member
    Kleeeniks's Avatar

    Re: please teach me about insurance needs we all should get covered!

    wow, such an interesting story, what was next? Did you buy cameras to your friend or you simply gave him the money you got from insurance company ?

  9. #9
    Staff
    Super Mod
    Marilynne's Avatar

    Re: please teach me about insurance needs we all should get covered!

    Quote Originally Posted by Kleeeniks View Post
    wow, such an interesting story, what was next? Did you buy cameras to your friend or you simply gave him the money you got from insurance company ?
    Question - what's your relationship to JoeIskor? Same computer, response five minutes apart.
    Last edited by Marilynne; 07-23-2019 at 01:28 PM.

  10. #10
    Senior Member
    mikew's Avatar

    Re: please teach me about insurance needs we all should get covered!

    please teach me about insurance needs we all should get covered!
    please teach me about insurance needs we all should get covered!-imagesll.jpg
    Mike

    https://www.flickr.com/photos/[email protected]/

    Nikon Z50,Nikon16-50MM,Nikon50-250MM,FTZ Adapter
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