jneilt Posted January 10, 2012 Share #1 Posted January 10, 2012 Advertisement (gone after registration) After reading threads regarding individual loses, I thought I might look into some coverage for my kit. Called a couple places in the US...got quotes with a premium of about 5% of my kits value. Called my homeowners...my agent got the underwriter on the phone for me to give serial numbers and descriptions of my items. Underwriter was very nice and asked me if I thought the M9 was worth the money (seemed to know a bit about cameras). Cost to add to policy for 15K of coverage, no deductible, worldwide..about .5%, extremely reasonable. I have other items scheduled that are a little more than this. I have never had a claim since I have been with them and have home, auto, umbrella and scheduled items. Underwriter said all that is needed to file a claim is proof of ownership... I love my little insurance company. Link to post Share on other sites More sharing options...
Advertisement Posted January 10, 2012 Posted January 10, 2012 Hi jneilt, Take a look here Camera Insurance. I'm sure you'll find what you were looking for!
StephenPatterson Posted January 10, 2012 Share #2 Posted January 10, 2012 So you are paying $75 for $15K worth of coverage through your home owners policy? I'm just curious because when I enquired through my home owners agency I was told that my Leica gear (unlike jewelry) didn't need any special rider and was fully covered against loss, anywhere in the world, with no deductible. The only caveat was that you could not be a "professional", however that is defined. I've recently sold my house in the US, and I'm researching the best option for insuring my gear in China. Obviously it's going to be a bit more expensive now... Stephen PS This thread would probably more appropriate in the "Customer Forum", as it's not M9 specific. Link to post Share on other sites More sharing options...
jneilt Posted January 10, 2012 Author Share #3 Posted January 10, 2012 My policy specifically limits payments for cameras and video equipment to 5k. That amount is in my personal property limits. I was also informed that under that category there was no overseas coverage. I also have other items scheduled that are beyond liability limits. Although I trust my agency (over 70 years old and independent), I would suggest the individual read their respective policy theirselves to determine coverage limits-as we all know there is significant variance in these regulated products between states and countries. My policy does not require jewelry to be scheduled unless a single item is over 20k... I am happy that I am not paying what I used to pay with one of those huge national companies that advertise how great they are... Link to post Share on other sites More sharing options...
bocaburger Posted January 11, 2012 Share #4 Posted January 11, 2012 Everyone needs to check the specifics of their particular homeowners' policy or one they are contemplating getting, because there are differences. I used to have mine through one of the major insurers. There was a $1250 cap on jewelry and furs, but insofar as cameras went, I was covered up to the limit of my policy, regardless of where the loss might occur (such as on a trip). Then the insurer pulled out of this state because it wouldn't let them jack everyone's premiums up to cover past payouts. Now the only affordable homeowners' insurance we have is through a state-run program, and while it has no limits on camera equipment, it isn't covered outside the home. I had to add it to the personal articles policy I had for jewelry. The per-$100 rate isn't as much as jewelry, which is a good thing. I only added my M9 and six lenses (the ones I take out frequently, the newest and most valuable). It came to about a buck and a quarter per hundred. Link to post Share on other sites More sharing options...
kokoshawnuff Posted January 12, 2012 Share #5 Posted January 12, 2012 As I don't own a home, I have a Personal Articles policy with State Farm (who provides my auto insurance). As an amateur I am 100% covered against everything (except acts of war and nuclear attacks) anywhere on earth for about 1.3% of the total value of my equipment with no deductibles... For anyone that doesn't have insurance, it's really worth it; you may be surprised to learn how little it costs...I was quite happy when I first got the policy to learn that I would be paying less than $250 per year for piece of mind. Link to post Share on other sites More sharing options...
CalArts 99 Posted January 13, 2012 Share #6 Posted January 13, 2012 As I don't own a home, I have a Personal Articles policy with State Farm (who provides my auto insurance). As an amateur I am 100% covered against everything (except acts of war and nuclear attacks) anywhere on earth for about 1.3% of the total value of my equipment with no deductibles... For anyone that doesn't have insurance, it's really worth it; you may be surprised to learn how little it costs...I was quite happy when I first got the policy to learn that I would be paying less than $250 per year for piece of mind. I have the same policy with State Farm. Zero deductible and also covers damage due to mishaps. I agree, the premium is very fair. I pay something around $500 per year for about $45k worth of stuff; I even tossed in my laptops and a wrist watch and they covered that, too. But be sure to upgrade the value on items when the replacement costs rise otherwise they will only pay out off the original invoice. Link to post Share on other sites More sharing options...
Jeff S Posted January 13, 2012 Share #7 Posted January 13, 2012 Advertisement (gone after registration) But be sure to upgrade the value on items when the replacement costs rise otherwise they will only pay out off the original invoice. Depends on the policy...the camera equipment rider to my home policy automatically covers up to 50% higher than the initially stated values in the event prices for replacement equipment rises at time of loss, at no additional premium cost. Jeff Link to post Share on other sites More sharing options...
CalArts 99 Posted January 13, 2012 Share #8 Posted January 13, 2012 Depends on the policy...the camera equipment rider to my home policy automatically covers up to 50% higher than the initially stated values in the event prices for replacement equipment rises at time of loss, at no additional premium cost. Jeff There's absolutely no doubt that all policies differ, however I was directing the info specifically to kokoshawnuff since he has the same policy as I have. In this case it's a separate State Farm Personal Articles Policy and not a rider to an existing policy. There is no general provision for inflation with this one, and one has to increase value on each individual item to cover any rising replacement costs or increased value. And there can be a premium increase since this particular policy's premium is based on the total value of all items at time of the item's purchase (initially based on the original sales receipt.) Link to post Share on other sites More sharing options...
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