Camera Insurance

G

Glasgow_Gio

New member
I've just got my Nikon D3100 and before I take it on it's first trip to Dubai I would like to get it insured.

Does everyone insure their camera's on a separate cover or add them to their home insurance?

I would prefer to keep it separate so can anyone recommend an insurance provider?:confused:

Thanks in advance.:)
 
J

Joseph Bautsch

New member
You may find it a lot cheaper just to add it to your home owner policy, on a floater or rider. A separate policy, such as a inland marine or fine arts floater usually have more stringent underwriting requirements. Contact your homeowner policy agent and he should be able to advise you which will be the best way to go.
 
J

jdeg

^ broke something
Staff member
I had my camera gear under a rider on my home insurance when I went on vacation. Worked just fine. You don't need a separate policy until you get into professional gear.
 
Eduard

Eduard

Super Mod
Staff member
Super Mod
Joseph gave you great advice an it is exactly what I've done. Most homeowner's policies distinguish between personal and business use as well.
 
R

Rick M

Senior Member
What would the premium be on such a rider? Since you are traveling you might want to make sure such insurance is valid internationally.
 
J

Joseph Bautsch

New member
Premium will be different from one underwriter to the next. But since you already have a homeowners you won't have much choice. Usually these riders provide coverage world wide, but check with the agent to make sure. A rider on personal use items should be cheaper than business use.
 
S

Stangman98

Senior Member
Finally I found this thread. I wanted to add some information to it.
I will disclose right up front that I am an insurance adjuster and have previously dealt with electronics losses.

Here are things that you need to know. First off, whether you rent or own, READ YOUR POLICY! You would be amazed how many people don't understand what is and is not covered.
Next, understand your Exclusions. Once you figure out what is covered read your exclusions to find out what is excluded. There many be exclusions depending on what country you go to. Exclusions for what caused the loss. Make sure if anything is EVER stolen that you file a police report no matter what country it is.
Next, and very important. Most policies exclude or limit coverage for property used for business purposes. That means if you get paid to use your camera, either professionally or just on side jobs they can and will limit or deny coverage all together.
If you are not concerned about the business aspect then I would recommend getting what is called an endorsement on your home or renters policy. Make sure it's an open perils endorsement and that the value you are endorsing it for is the replacement valve if possible.
Now some will say, "Well I sometimes get paid but the insurance company won't find out" let me tell something, we will find out. In this day and age it doesn't take much to find out. If you call in and say that you have a D3S, SB900, 24-70 & a 70-200 stolen you bet your ass they are going to investigate that stuff. I say this not to scare people, but to make sure you are covered properly.
Make sure that if you are doing it for fun and that's it to still get that endorsement on each piece of equipment too. Paying an extra few dollars a month is better than paying $3000 when you have to buy a new body.
Lastly, if you do shoot and sell photos, get yourself a business policy for your equipment too. Make sure to get liability insurance. Make sure there is somekind of loss of use in case your equipment is stolen. Make sure to read the perils on the policy and determine what is and is not covered on that policy also. Even if you only have say $5000 in equipment, it's better to be safe than sorry.
 
Marcel

Marcel

Happily retired
Staff member
Super Mod
Stangman98 said:
Finally I found this thread. I wanted to add some information to it.
I will disclose right up front that I am an insurance adjuster and have previously dealt with electronics losses.

<SNIP>
Click to expand...

Thanks for the info Damon, I'm glad I read this post.
 
AC016

AC016

Senior Member
Stangman98 said:
Finally I found this thread. I wanted to add some information to it.
I will disclose right up front that I am an insurance adjuster and have previously dealt with electronics losses.

Here are things that you need to know. First off, whether you rent or own, READ YOUR POLICY! You would be amazed how many people don't understand what is and is not covered.
Next, understand your Exclusions. Once you figure out what is covered read your exclusions to find out what is excluded. There many be exclusions depending on what country you go to. Exclusions for what caused the loss. Make sure if anything is EVER stolen that you file a police report no matter what country it is.
Next, and very important. Most policies exclude or limit coverage for property used for business purposes. That means if you get paid to use your camera, either professionally or just on side jobs they can and will limit or deny coverage all together.
If you are not concerned about the business aspect then I would recommend getting what is called an endorsement on your home or renters policy. Make sure it's an open perils endorsement and that the value you are endorsing it for is the replacement valve if possible.
Now some will say, "Well I sometimes get paid but the insurance company won't find out" let me tell something, we will find out. In this day and age it doesn't take much to find out. If you call in and say that you have a D3S, SB900, 24-70 & a 70-200 stolen you bet your ass they are going to investigate that stuff. I say this not to scare people, but to make sure you are covered properly.
Make sure that if you are doing it for fun and that's it to still get that endorsement on each piece of equipment too. Paying an extra few dollars a month is better than paying $3000 when you have to buy a new body.
Lastly, if you do shoot and sell photos, get yourself a business policy for your equipment too. Make sure to get liability insurance. Make sure there is somekind of loss of use in case your equipment is stolen. Make sure to read the perils on the policy and determine what is and is not covered on that policy also. Even if you only have say $5000 in equipment, it's better to be safe than sorry.
Click to expand...

Roughly speaking, what would the premium cost for the camera? I would imagine that over several months of paying the premium, you would have paid for a new camera.. no? Or would the premium be so low, that it would be hardly noticed? Just makes me wonder if it were worthwhile? - especially on a d3100.
 
S

Stangman98

Senior Member
D5100Shooter said:
Roughly speaking, what would the premium cost for the camera? I would imagine that over several months of paying the premium, you would have paid for a new camera.. no? Or would the premium be so low, that it would be hardly noticed? Just makes me wonder if it were worthwhile? - especially on a d3100.
Click to expand...


To purchase an endorsement for say a D3 would most likely be $10 a month or so at most. I know that my wife's $6000 ring is scheduled on the policy and in total for all our insurance on our home it's a touch over $600 a year. That's for my home, my wife's ring, and extended coverage on some other things.
As far as a business policy I am going to find that out soon.
 
Eduard

Eduard

Super Mod
Staff member
Super Mod
D5100Shooter said:
Roughly speaking, what would the premium cost for the camera? I would imagine that over several months of paying the premium, you would have paid for a new camera.. no? Or would the premium be so low, that it would be hardly noticed? Just makes me wonder if it were worthwhile? - especially on a d3100.
Click to expand...

I have a Valuable Personal Property policy with USAA for my wife's jewelry and my camera gear. It is replacement cost with no-deductible. I provided serial numbers and a copy of my receipts (PayPal receipts for used lenses that I bought was acceptable). Very easy and very reasonable.
 
S

Stangman98

Senior Member
Eduard said:
I have a Valuable Personal Property policy with USAA for my wife's jewelry and my camera gear. It is replacement cost with no-deductible. I provided serial numbers and a copy of my receipts (PayPal receipts for used lenses that I bought was acceptable). Very easy and very reasonable.
Click to expand...


Is that an open peril set up or just named perils? That makes a huge difference. Open perils is the way to go since most insurance companies have a limited amount of perils that they cover againt.
A peril is a cause of loss. Such as wind, fire, theft, etc.
 
Dooku77

Dooku77

Senior Member
I purchased a Squaretrade insurance policy. 190 bucks and it covers me for 3 years against defective/failing parts, drops and water damage.
 
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