Camera Insurance?

How many of you have insurance for your equipment? What does it cover and where can I obtain it? Thanks in advance for any help or information you can provide!

If you have a Homeowner's policy, you can buy Actual Replacement Value ("ARV") coverage on a schedule of specific items of personl property (otherwise there's a maximum limit of $1,500 per item or so). You can get premium quotes before buying. ARV coverage is $$ than fair market value coverage, but you can control the higher premiums somewhat with a higher deductible.

I used to use my home owner's policy to cover my camera equipment and photo workstation computer, scanner, etc. When my photo workstation computer (~$4000) was stolen from my car (during our move from MA to NH last December), I had a very difficult time proving I was not a professional photographer which I am not (I had to provide tax returns, etc. and it added several months to the process but I finally did get compensated). When reporting stolen camera equipment they do search your name on the net (personal website, NPN moderator, other). Most home owner's insurance will not cover professional use of your equipment. I have since joined NANPA and purchased a policy through that membership. It also covers travel out of the US that most other policies do not cover. Photo.net also provides discounted policies with another insurer but their policy is only good in the continental US.

Add Professional Photographers of America (PPA) to the list of professional sources.

PPA doesn't offer it themselves of course, but you go through them to their carrier. PPA is more expensive to join than NANPA and caters to more than pure nature shooters, but in our experience their insurance meets our needs better. It's full replacement for whatever value you declare at the time you place the policy, so it's nice to be able to list new replacement for new gear, then do your own adjusting downward over the years as the value drops. It also covers repairs not under warranty. We also get liability insurance on ourselves to cover our activities away from our facility, as well as liability insurance at the facility. And then there's E&O insurance if you're doing contract shooting like we often do.

Over the years we've filed claims for stolen gear, destroyed gear and repairs and experienced zero hassles or delays. Thankfully we've never had to test their liability or E&O coverage.

Some providers have a Personal Articles policy, which is different from homeowner's in that it covers any sort of damage, not just theft. However, depending on the company and even the agent, they may not insure you if they consider you a professional... which can equate to as little as 10% of your income coming from photography. I had great coverage with State Farm for years, and then they dropped me out of the blue for this reason.

Since then, I've hooked up with TCP Insurance. They specialize in policies for photographers. The policies are more expensive, but they not only cover your gear but provide liability coverage as well... say you're leading a tour and one of your clients is bitten by a snake, then you're covered.

Max

Yeah, homeowner's policies pay you THEIR idea of market value if there's a loss.

There's one place most pros go: http://www.tcpinsurance.com/

I use NANPA, Zack. They make it easy for us.

NANPA as suggested by friernds here.

I just insured my equipment at the beginning of December with State Farm after inquiring about a Personal Articles Policy on just my equipment. I insured about $2500 worth for my body + lenses and my premium came in around $30 per year with no deductable, and the policy can be altered at any time if I buy more equipment. I was told the policy covers ADPL (Accidental Direct Physical Loss), which basically means anything that causes the camera to be lost / unuseable. Water, dropped, stolen, etc without having to file it against your homeowner's policy, which can be costly in the long run, and requires meeting a deductable.

It's certainly nice having the peace of mind!!

...Water....

Watch your backside. A friend dropped her camera pack into the water while boarding a sea plane on the ocean. Recovered it right away, but the gear was ruined.

They refused to pay because she didn't have it in a waterproof bag.

NANPA although I've never filed a claim, knock on wood

Many well known insurance companies can write you a business policy which is what I had American Family do for all my photography equipment including computer hardware. You just need to be specific on what you ask for and the type of coverage you want. Personally I would go with a company/agent you can walk into their front door and set down and talk to face to face instead of something like joining NPNPA. I want to be able to talk to the agent or call a local number if I have a question, it brings me way more piece of mind than saving a few dollars here or there. I wouldn't touch a $30 a year policy with a ten foot pole and expect it to be worth anything when I needed it.

I just recently renewed my business policy with American Family which I also have my home and autos with and the agent is about 15 minutes away and felt very comfortable doing so. $10,000 equipment at "replacement value" AND $1,000,000 in liability (something you should seriously consider, what if you caused damage or harm in the process of your photography, if your insurance company considers you doing this as a business your homeowners policy will not cover you. If your sued for anything what would you do?) anyway my business policy runs just under $500 per year.In my opinion, worth every penny.

"....my business policy runs just under $500 per year...."

That's a good rate for your coverage. We're paying more than twice that, but for more gear and liability, plus E&O. And feeling like we got a good deal too!

I have been with State Farm for years. I told them how much gear I had and they suggested a separate policy. $30000 in gear for about $500 a year and they have paid off twice, big time ($3300). Once when my tripod tipped over and landed in a pool of water. It seems well worth it to me.

Another vote for State Farm!