Advice for insuring camera and gear

[Rachelle]

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Hello! I appreciate advice from those who have experience insuring their Leica camera and gear.

I've selected the insurance company. So now I'm itemizing my camera and accessories. I have main items listed - camera body, lens, batteries, adapters, filters, and tripod.

Should I also include other items under $100 each, such as camera cases, straps, hot shoe covers, and cable release? I don't know if these items would make my insurance premium unnecessarily higher than it needs to be. If needed to be replace, it would be an estimated $500 worth of loss.

My coverage is not for professional work. I photograph in different kinds of environments and travel with my camera, so I would like my coverage to be fairly robust in covering potential theft (outside the home), loss, damage, etc.

Thanks in advance for your feedback!

 

Edited January 29, 2022 by Rachelle

[Jeff S]

Depends on your specific policy. For instance,  I’m not a pro, but have a high end policy that covers all such ‘incidentals’ without need to itemize and without effect in premium. But the underwriting criteria (including net worth) is very strict. I suggest you speak directly with your carrier.  If they are vague, then that should tell you something.

Jeff

[Erato]

AirTag or similar tracking devices makes sense, you may want to check it out.

[Rachelle]

On 1/28/2022 at 8:06 PM, Jeff S said:

Depends on your specific policy. For instance,  I’m not a pro, but have a high end policy that covers all such ‘incidentals’ without need to itemize and without effect in premium. But the underwriting criteria (including net worth) is very strict. I suggest you speak directly with your carrier.  If they are vague, then that should tell you something.

Jeff

Thanks for your response @Jeff S.  Very helpful to know this. Kind regards!

[Jeff S]

22 minutes ago, Rachelle said:

Thanks for your response @Jeff S.  Very helpful to know this. Kind regards!

To be more specific, I itemize only cameras and lenses.  Other items, including tripods, bags, accessories, etc are covered without itemization.  I determine full replacement values without appraisals, and appreciation up to 50% is covered without re-valuation (for instance if a model is replaced by a more expensive version).  Coverage is worldwide, without deductible, for all circumstances outside warranty.  I use the same policy for other collectibles, e.g., vintage photographic prints and books, etc.  

Jeff

[chrisinsf]

I have personal article policy w/State Farm. Curious if this what other do and what their experience has been in the event something does go wrong?  Statefarm told me that my renters insurance would not cover the amounts for replacement so I needed a personal articles policy.  It supposedly also covers inflation.

[idusidusi]

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I have only ever insured my specified new gear i.e. camera and especially lenses at their full replacement cost. Secondhand gear I have never insured.

[Jeff S]

On 4/3/2022 at 8:36 PM, chrisinsf said:

I have personal article policy w/State Farm. Curious if this what other do and what their experience has been in the event something does go wrong?  Statefarm told me that my renters insurance would not cover the amounts for replacement so I needed a personal articles policy.  It supposedly also covers inflation.

See above… many levels of insurance, including those well beyond any coverage for renters or from ‘consumer grade’ policies from companies such as State Farm. Underwriting standards are of course correspondingly strict.

Jeff