Nomadic life and camera insurance

[KFo]

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Soon, only a year away now, my wife and I will begin a nomadic lifestyle.  This means no homeowner’s insurance, no automobile insurance,...

In what way can I insure my camera equipment from loss/theft/damage?  Any Leica peeps surmounted this challenge?

Thanks!

[Soden]

I had some Pro Photo insurance for a time but it got too expensive. Over $2k per year. I was in an accident, the repairs were only $1k...

I too would like some reasonable insurance... but Leica gear is high in value...

But if you want a reference the agency was Tom Pickering

 

Edited May 21, 2019 by Soden
added reference

[Jeff S]

I’m not a photo professional; just an enthusiast. My gear insurance, although issued by the same company that provides my home, auto and other coverage, is a separate policy.  It has its own premium, no deductible, worldwide coverage, with full replacement cost on itemized contents. I don’t know if this would have been available singularly if I didn’t also have home or other coverage, or if I didn’t have a permanent home. 

Insurance options, coverage and costs vary greatly by company, by location and by individual circumstances (for example, history, net worth, or many other factors).  I would start by calling the companies that you currently use or know to better understand options or suggestions.  I have an insurance agent that helps direct me to the best available options, and is not locked into any one company.

Jeff

[jdlaing]

It all depends on what the equipment is worth and how long you will be in the position of being nomadic. Insurance is available.

With most homeowners policies the gear is covered under the main policy and an additional policy is another cost.  If you have no permanent residence it will be expensive.

Insurance premiums are money spent. You can only weigh the options for yourself. 

[WvE]

See if an Increase of your deductible, to a level you can afford, will sufficiently bring the premium down. 

[fatihayoglu]

I use Eversure camera insurance, it is cheeper than ProPhoto, I pay around £450 for nearly £25k worth of item and the insurance has a good cover. Last year they have repaired my film MP and the lens damage because I have dropped the kit on a tile floor. The repair was more than 1000EUR. But I guess you are in US so this might not so useful to you.

Edited May 22, 2019 by fatihayoglu

[Peter Kilmister]

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For the past 3 years I have used Eversure. The impression their interface gives suggests that they are international brokers. 

[Photoworks]

https://www.tcpinsurance.com/photography-insurance/

I had great experience with Tom Pickard

The insurance policy come from somebody else, they are just a reseller. 

You can keep the cost down if you insure only the essentials.

Includes free laptop on the road and computers at home

+ insurance for rental camera equipment

You don't have to be professional 

Just ask for a quote.

[Simone_DF]

23 hours ago, Peter Kilmister said:

For the past 3 years I have used Eversure. The impression their interface gives suggests that they are international brokers. 

Unfortunately that's not the case:

 

Do you cover non-UK residents?
We're not permitted to write insurance to non-UK residents at this time. 
Additionally, residents of The Isle of Mann and the Channel Islands are not permitted to purchase our camera insurance.
To qualify as a valid resident for the purposes of our Camera Insurance, you will have spent at least 6 of the last 12 months in the UK, and will spend at least 6 of the following 12 months in the UK.
If you are staying in the UK on a Visa, you will be covered providing your insurance policy will expire within the duration of your Visa.

[sepiareverb]

I have a policy for my equipment through Maine Mutual. $600 a year covers everything no matter where it is. 6 M bodies, 2 Rolleis, X1D, XPro2 and about 30 lenses for the above cameras. Plus the darkroom equipment, scanner, computer.

[lucerne]

3 hours ago, sepiareverb said:

I have a policy for my equipment through Maine Mutual. $600 a year covers everything no matter where it is. 6 M bodies, 2 Rolleis, X1D, XPro2 and about 30 lenses for the above cameras. Plus the darkroom equipment, scanner, computer.

Agreed, but don’t get confused between “anywhere” and “Insurability ”.    Yours is a good deal and items are covered wherever you take them in the world, but to qualify for that insurance policy you have to be a US citizen with a US address.. 

U.K. citizens Get much less value deals from U.K. insurers.  Worldwide cover is no problem. (Usually limited to a limited number of days per trip).  New for old no problem. It’s also usually a condition that the items are securely stored at home or under strict controls while travelling.  

In the U.K., One M10 plus £3000 of lenses is currently £165.

As a U.K. resident, if I could insure 40 valuable items for $600 I’d be delighted.  But I can’t!  Maine Mutual aren’t licensed to conduct insurance business in the U.K so won’t cover me. 

 

 

 

 

 

[IkarusJohn]

An alternative is to think of a sum you're prepared to pay as a premium for your gear (take a percentage of its value - 2.5%?), then add the deductible, say $1,000, and pay that annually into an interest bearing account - call it your slush fund.  You will surprised how quickly you build up a reasonable sum to cover loss and damage ...

It's not an investment, it's a tool.  If its more than you're prepared to write off over a few years, and more than you're prepared to lose, then you need to consider divesting yourself of what you don't really need.  I'm the first to confess that I have too much gear (again?  How did that happen?), but if I was considering a "nomadic lifestyle", I'd reduce my gear to one or two bodies, max, and maybe four lenses.  I lived that life for 8 years, and it was fun - last thing I wanted to fret about was my gear.  At the end of those years of travel, my camera was pretty trashed (actually, I went through 3 bodies, from memory).

Edited May 23, 2019 by IkarusJohn

[KFo]

6 hours ago, IkarusJohn said:

An alternative is to think of a sum you're prepared to pay as a premium for your gear (take a percentage of its value - 2.5%?), then add the deductible, say $1,000, and pay that annually into an interest bearing account - call it your slush fund.  You will surprised how quickly you build up a reasonable sum to cover loss and damage ...

It's not an investment, it's a tool.  If its more than you're prepared to write off over a few years, and more than you're prepared to lose, then you need to consider divesting yourself of what you don't really need.  I'm the first to confess that I have too much gear (again?  How did that happen?), but if I was considering a "nomadic lifestyle", I'd reduce my gear to one or two bodies, max, and maybe four lenses.  I lived that life for 8 years, and it was fun - last thing I wanted to fret about was my gear.  At the end of those years of travel, my camera was pretty trashed (actually, I went through 3 bodies, from memory).

I get this idea and that is my normal SOP:  put some money aside and use it as contingency.  

The only reason I’m thinking about insurance is the risk sharing: I don’t have save all the money for replacement. 

There have been some good tips here that are giving me something a to consider.  I will be rolling with a minimized kit so it’s not as though I’ve got a pelican case full of lenses that’ll be along.

The idea of writing off over some time is exactly right, however, my expectation of the number of years use might differ from that of a thief stealing the gear.  That’s where insurance might come in.

 

 

[sepiareverb]

On 5/23/2019 at 2:51 PM, lucerne said:

...In the U.K., One M10 plus £3000 of lenses is currently £165.. 

 

 

 

 

 

Ouch. Didn't see that you were in the UK, sorry for that. 

Having been with Maine Mutual for twelve years now, I'd have a good pile socked away in that slush fund, but still not enough to cover what I generally carry on the road.