insurance

[Wayne]

How do you insure your equipement when travelling. I'm heading out on a month long trip now and another couple month trip later. I'll be bringing not only 3-4 K (replacement value) of photo gear but another couple G in computers and musical instruments. My agent offered me only that I could drop the deductible on my house policy to $500 and then I would be covered. This would cost a considerable amount, nearly doubling my premium, but it appears to be my only option. I have yet to ask him if I can do this only during periods I am travelling, which would make it more reasonable. Right now I would eat the whole thing if anything happened because I have a $5000 deductible and it only covers depreciated value of personal belongings. Any other ideas to cover $5-6000 worth of stuff for its replacement value? I'm going to be camping most of the time.

[jwaddison]

Don't know, but I'm also interested in any replies. My insurance agent told me the same as yours told you.

[vinny]

I have a separate zero deductible photo equip. policy that's based on the amount of $ you have your gear insured for. I pay a percentage based on using the gear as a "amatuer" only. It's a higher % for pro use. My agent keeps a list of gear and serial numbers. The policy is cheap and covers loss/and or damage of any kind.

[Wayne]

What company do you use Vinny? Maybe I need to farm this out to a different agent

[Wayne]

Found out Allstate offers a personal belongings floater to a home policy that is just what I'm looking for. Unfortunately my policy is with Farmers, and they dont offer one. Might be time to shop around for a new home policy, because this is ridiculous. My Farmers agent said I could pay just for the time its being used, but it would still end up being 3x as expensive as the floater if I use it more than 4-6 weeks.

[eddie]

i have renters insurance....maybe home owners is the same. anyway i am covered up to 15K. costs me 125/year. i checked on my camera gear and climbing gear. both are covered without a rider. keep your receipts or be able to show the replacement value.

i had to make a claim several years ago for an overseas loss....no problem. i provided the receipts they paid....and very fast. it was a wonderful experience (to replace my stuff that is).

good luck.

eddie

[Don Boyd]

Last October I lost all of my brand new digital SLR equipment and 4 lenses when the raft they were on flipped on the Colorado river and were damaged beyond repair (the only flip we had among 4 boats in 24 days). My policy with Allstate reimbursed me for 100% of everything I lost (over $5K). The policy requires that I list all equipment individually with serial numbers and that new items get on the list within 15 or 30 days of purchase. Allstate was great to work with and once I turned in the paper work I had a check within a week. (Footnote: the camera gear was in a "waterproof camera bag" by a well-known manufacturer, but the bag failed.)

[eddie]

good to hear you got your money don.

when i travel in a small boat i use a 5 gallon pal type enclosure for my cameras....it floats too.....

[Turner Reich]

I've got some old stuff that I don't need, can you tell me what the number of that raft was? :D

[claudiocambon]

I've got some old stuff that I don't need, can you tell me what the number of that raft was? :D

VS Naipaul in 'The Mystic Masseur' uses the word for that process in Trinidad for housing:insurandburn." So here it should be 'insurandunk' or something!

It is not unheard of for photographers to gang up the losses below the deductible, the light meter lost here, and the stand left there, and then declare them as lost the next time something goes missing that puts them over the deductible.

[Don Boyd]

I guess the advantage of losing stuff on the river is that you won't have to provide a police report. I had all of my receipts and all of the gear had been purchased new within 6 months of the trip. I was prepared to give them the names and phone numbers of trip members but they didn't ask for it. It may have helped that Allstate has all of our other insurance and that I had carried this supplemental insurance for a couple of years. One upside is that I had purchased some things specifically for conditions on the river trip - wide angle and macro lenses - and with the insurance money I made different choices when replacing things. Overall, my experience with Allstate was very positive.

[Robert Oliver]

I used to use AAA (automobile club) for Inland / Marine insurance for my sports photography business. Covered my cameras pretty much every where, anytime. However, they didn't write those policies in California so I had to find a new carrier out west.

[Bruce M. Herman]

Members of NANPA and ASMP have access to insurance. I chose NANPA because it aligns more with my interest in landscape photography and costs less. The deductible is $250, I think.

[John Hennessy]

It seems the prior posts cover every thing, but I'll offer this summary. I used to be involved in homeowners' insurance years ago and have been a policy holder all along too.

Except the groups offering policies, I think that the only way to buy insurance is as a rider on your homeowner's (or renter's) policy. It may be priced better if you are an amateur (I think sales in galleries should not disqualify you as an amateur), but don't claim to be an amateur if you're not. The claims adjuster will figure it out, deny your claim and the underwriter will cancel your policy.

There is a major difference in such riders and the underlying policies. An HO policy insures you and your house against "named perils" and nothing else. A rider on the other hand is typically "all risk" no matter what happens, even your own clumsiness (e.g., dropping gear into a river.) You specify what each piece of gear is worth and that's what will be paid for a total loss. But if you fudge the value up, don't expect to be paid a ridiculously over-stated amount. You'd then be considered a "moral hazard" (someone whose greater interest would be dumping gear in a river instead of hanging on to it.) Again, the claims adjuster will figure it out, deny your claim and the underwriter will cancel your policy. Same with saving up small losses below the deductible and claiming them as one incident. The adjuster will know or suspect what you're doing, and an underwriter will decide if all of your business is worth your shenanigans.

You'll save of course with a higher deductible and by keeping the values in line with reality. There is little point in insuring gear you don't take out of you house or office, like darkroom gear or normal printers etc. That stuff is generally already covered under your HO policy at least up to a maximum. But, if you have Imacon scanners or the like you could go over the maximum.