Equipment insurance suggestions?

[SusanGRichardson]

I am getting ready to launch my new in-home studio in the next few months and as a result, have purchased alot of new lighting equipment and more software, props, etc... As a result, I will now need to buy commercial insurance and was hoping that someone might be able to recommend a good company to purchase it from. I've read alot of articles out there about polices that have poor coverage and exclusions, including a policy that didn't cover someone if their equipment was stolen from a "locked" car! I have read mixed reviews about PPA's new coverage....Any suggestions?

Thanks so much, friends!

[sk66]

I have a rider on my homeowners policy...$0 deductible and covered against ANYTHING... I drowned my D3 while kayaking..covered. Dropped a lens off a cliff while rock climbing...covered.

That said, you are going to need *more*. You should be looking at a $1M in commercial insurance against injury etc...I *think* $1M is the "starting point* for that kind of thing. I had to have that much when I had customers come to my house and for coverage of their gear while I was working on it (Luthier)..

[cyber3d]

Originally Posted by SusanGRichardson

I am getting ready to launch my new in-home studio in the next few months and as a result, have purchased alot of new lighting equipment and more software, props, etc... As a result, I will now need to buy commercial insurance and was hoping that someone might be able to recommend a good company to purchase it from. I've read alot of articles out there about polices that have poor coverage and exclusions, including a policy that didn't cover someone if their equipment was stolen from a "locked" car! I have read mixed reviews about PPA's new coverage....Any suggestions?

Thanks so much, friends!

What did you eventually do? According to my teacher: "home owner's insurance will not cover equipment loss if it is for a business." And that they can generally tell if it is for business by the type of equipment claimed.

I just got quotes and I want to find a less costly company.

.

[SwissJon]

Originally Posted by cyber3d

What did you eventually do? According to my teacher: "home owner's insurance will not cover equipment loss if it is for a business." And that they can generally tell if it is for business by the type of equipment claimed.

I just got quotes and I want to find a less costly company.

.

I spoke to my house insurance company who have provided me with a $15k cover for my gear although I declined the cover that included spacecraft and extraterrestrial objects falling on it.

You might want to consider not just cover for professional indemnity, but also loss of income. Also, since you're using your home as a place of work, that may invalidate your home insurance, so you may need to renegotiate that.