Insurance?

[onedelorean]

I just got some new lenses and when I realized how much I have spent on them and how much other stuff I have i was thinking insurance would not be such a bad idea. Does anyone out here have suggestions on who to go with? I did some research and found two companies that look promising. Entertainment Insurance for Film and Movie Production and Entertainment Insurance for Film and Movie Production. Has anyone used them before? Thanks!

[jdepould]

Haven't heard of them. Are you working for profit, or is it a hobby? I have a commercial line with Travelers Insurance through National Press Photographer Association. I'm paying about $750/yr for ~$15k in gear with a $1,500 theft/$500 everything else deductible.

If you aren't using your gear to make money, and you have an existing homeowner/renter policy, you can add it on a rider, which is going to be the most cost effective solution. If you don't have a homeowner/renter policy ... get one. They're cheap, and you'd be crazy not to.

[zona5101]

...some homeowner insurance companies will even write an endorsement that allows professional use of your gear that is maintained in your home (as opposed to being maintained in a commercial location).

[onedelorean]

Thanks for the quick reply guys! I shoot weddings as a business.

[jdepould]

Originally Posted by onedelorean

Thanks for the quick reply guys! I shoot weddings as a business.

So you'll need something with a commercial endorsement. Are you an ASMP/NPPA member (where are you located?)?

[funcrunch]

I just today renewed my liability and equipment insurance with Willis. They have a discount rate for photo.net members; worth checking out.

[GreggObst]

Be very, very, very careful when considering adding a rider to your homeowner's policy to cover camera equipment. Most will only cover "fair market value" on gear, NOT replacement value. So if you bought a lens for $1200 and a year later those lenses are going for $400 on eBay, the insurance company would pay you $400 to replace the lens, not $1200.

What you want is an "inland marine policy". I have mine through State Farm. It covers full replacement value on everything. I think $30K of coverage runs me about $155 a year. But if you use your gear professionally, they will make you get a "inland marine business policy" which will cost more but give the same coverage.