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Thread: Equipment / Business insurance?

  1. #1

    Join Date
    Apr 2011
    Location
    currently Boulder, CO; formerly Seattle, WA.
    Posts
    210

    Equipment / Business insurance?

    Hi All,

    I have posted the same question on Rangefinder Forum, but I wanted to check here to see if I can get a good diversity of responses. Also, I've been away from this forum too long...as I have been shooting mostly rangefinders...but the question should apply to LF gear.

    I have read some threads on this and it seems that many people have coverage for their cameras through their homeowners or renters insurance either as part of the standard policy or through special riders.

    I am traveling to Costa Rica the end of this month, not overly worried about theft or anything, but just to be cautious I checked with the company that provides my renters insurance to see if my equipment would be covered if something happened. I will be bringing a couple Leicas and a couple Mamiya 7IIs. After talking with 4 insurance representatives I finally got a definitive response: My policy would cover loss due to theft or fire even while traveling, or I could add a special endorsement for my gear that would cover accidents as well. However, the big catch is that I have a website, and occasionally (every couple of years) sell photographs that may have been taken with the gear. So now my cameras are business related and are only covered for $2500 in my house and $250 off premises.

    So, I was wondering what people in similar situations do? I participate in business activities when I sell photographs through my gallery, but I also work full time and am in grad school so this doesn't currently happen as much as I would like. I also have a slew of LF gear and a drum scanner that seem to not be covered past the $2500/$250 limits. I will contact some local insurance companies and see what they can offer, but I wanted to see what other people who use their gear for a business do for insurance? Purchase business insurance? Just hope nothing happens? Assume that homeowners/renters insurance will come through?

    Any advice is appreciated.

    Thanks,
    Adam
    ----------------------
    http://adamsatushek.com

  2. #2

    Join Date
    Jan 2013
    Location
    Madisonville, LA
    Posts
    2,412

    Re: Equipment / Business insurance?

    You can get insurance through the Professional Photographers of America if you're a member.

  3. #3

    Join Date
    Apr 2011
    Location
    currently Boulder, CO; formerly Seattle, WA.
    Posts
    210

    Re: Equipment / Business insurance?

    Quote Originally Posted by Luis-F-S View Post
    You can get insurance through the Professional Photographers of America if you're a member.
    I am not a member, and the rates for insurance look reasonable, but once you add in the yearly/mouthy membership fee its seems expensive. Do you recommend this coverage? Seems like it could be a good option, but a bit pricey once membership is considered.
    ----------------------
    http://adamsatushek.com

  4. #4

    Join Date
    May 2006
    Location
    grand rapids
    Posts
    3,851

    Re: Equipment / Business insurance?

    get a photo gear rider through your renters/homeowner's policy. they usually have two types-pro and not. if you make money from photography they classify it as pro and the rates are higher.

  5. #5
    bdkphoto
    Guest

    Re: Equipment / Business insurance?

    Quote Originally Posted by adam satushek View Post
    Hi All,

    I have posted the same question on Rangefinder Forum, but I wanted to check here to see if I can get a good diversity of responses. Also, I've been away from this forum too long...as I have been shooting mostly rangefinders...but the question should apply to LF gear.

    I have read some threads on this and it seems that many people have coverage for their cameras through their homeowners or renters insurance either as part of the standard policy or through special riders.

    I am traveling to Costa Rica the end of this month, not overly worried about theft or anything, but just to be cautious I checked with the company that provides my renters insurance to see if my equipment would be covered if something happened. I will be bringing a couple Leicas and a couple Mamiya 7IIs. After talking with 4 insurance representatives I finally got a definitive response: My policy would cover loss due to theft or fire even while traveling, or I could add a special endorsement for my gear that would cover accidents as well. However, the big catch is that I have a website, and occasionally (every couple of years) sell photographs that may have been taken with the gear. So now my cameras are business related and are only covered for $2500 in my house and $250 off premises.

    So, I was wondering what people in similar situations do? I participate in business activities when I sell photographs through my gallery, but I also work full time and am in grad school so this doesn't currently happen as much as I would like. I also have a slew of LF gear and a drum scanner that seem to not be covered past the $2500/$250 limits. I will contact some local insurance companies and see what they can offer, but I wanted to see what other people who use their gear for a business do for insurance? Purchase business insurance? Just hope nothing happens? Assume that homeowners/renters insurance will come through?

    Any advice is appreciated.

    Thanks,
    Adam
    You will find that to cover your equipment properly a real business policy is necessary. There are many polices available through the trade organizations PPA, ASMP, APA WPPI, etc. If you are in grad school you might be able to join as a student member and still receive a discount on the insurance.

  6. #6

    Join Date
    Apr 2011
    Location
    currently Boulder, CO; formerly Seattle, WA.
    Posts
    210

    Re: Equipment / Business insurance?

    vinny: Unfortunately my insurance will not allow me to add any photo equipment as scheduled property because it is occasionally used for business. I just called them again, and confirmed that my gear is not covered and they cannot cover it. I guess they don't offer any business insurance...I will probably be looking to change coverage...but this is unlikely to happen in the next few weeks before my trip.

    bdkphoto: I will look more into those associations and the insurance options they offer. Seems you might be correct that I need business insurance. I am in grad school, not for photography, but maybe I can still get a student discount...I will certainly look into it.
    ----------------------
    http://adamsatushek.com

  7. #7

    Join Date
    May 2006
    Location
    grand rapids
    Posts
    3,851

    Re: Equipment / Business insurance?

    fyi, I currently have liberty mutual and had state farm prior. the state farm add on policy was somewhere around $300/year as non pro and that is based on $$ amount of coverage.

  8. #8
    Tin Can's Avatar
    Join Date
    Dec 2011
    Posts
    22,386

    Re: Equipment / Business insurance?

    I joined PPA this week.

  9. #9

    Join Date
    Sep 2003
    Location
    Hudson Valley, NY
    Posts
    1,692

    Re: Equipment / Business insurance?

    I get my insurance from Chubb via NANPA. NANPA membership is about $100. Chubb has been good and recently covered a $3,000 claim for a totaled pro DSLR body without any hassles.

  10. #10
    bdkphoto
    Guest

    Re: Equipment / Business insurance?

    Quote Originally Posted by adam satushek View Post
    vinny: Unfortunately my insurance will not allow me to add any photo equipment as scheduled property because it is occasionally used for business. I just called them again, and confirmed that my gear is not covered and they cannot cover it. I guess they don't offer any business insurance...I will probably be looking to change coverage...but this is unlikely to happen in the next few weeks before my trip.

    bdkphoto: I will look more into those associations and the insurance options they offer. Seems you might be correct that I need business insurance. I am in grad school, not for photography, but maybe I can still get a student discount...I will certainly look into it.
    I know ASMP has multiple membership categories and all of them will have the same benefit for insurance. If you reach out to the CO chapter they will be glad to get you on board in the proper category - if you are in grad school and doing photo work on the side you may still be able to join as a student- I would certainly ask, most certainly as an emerging associate. You will find the cost of membership quickly offset by by the discount(s) and even the programming - stuff like the fine art reviews etc. are well worthwhile. ( For clarity I serve on the National ASMP Board, and used to run the NYC chapter ). You will find similar things with the other photo trade associations.
    If you have a website and can be seen doing business in photography the homeowners plans will not cover you properly. I've seen many folks caught short when trying to file a claim. I've signed up several new members here in NYC just for this reason.

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