equipment insurance question


scarr1

Link Posted 17/11/2015 - 09:34
a question to all forum users.....
reading a thread by Fatspider regarding his dropped camera and subsequent claim , it dawned on me that I don't have any of my gear insured...or at least I think I don't.
do you have specialist insurance (who?) for your camera, lenses etc,, or are they covered on building and contents insurance cover (do I need to inform insurance company of individual items)?
and, is the equipment (camera, lenses etc) covered on an individual basis (ie x1 k5, x1 k3, XXXX lens, XXXX lens and so on), or as a total value of all the equipment.
any help on this would be really appreciated,
Simon.

Gwyn

Link Posted 17/11/2015 - 09:50
I used to have my gear insured with a specialist company here in the Netherlands. The policy was identical to that provided for television crews transporting gear around the world, and as such also covered gear being checked as hold luggage, which is pretty unusual.
It required every item to be listed, with serial numbers, value and the receipts registered with them by e-mail. It was a new for old policy, so things would be replaced with the equivalent new item.
In the end I had to end the policy, when we were going through some financial problems and had to cut right back on things. So now none of my stuff is insured beyond my household and travel policies, which effectively means it is not insured.

carmagw

Link Posted 17/11/2015 - 10:09
If stolen from inside your house then it may (or may not depending on policy) be covered under normal contents insurance, for outside the house you would need personal belongings cover and depending on the value of your equipment you may need to specify photographic items seperately and pay an additional premium

Also depends on total value, watch out for individual limits and do not under insure total contents otherwise the claim may be reduced by the appropriate percentage. If in doubt talk to your insurer / broker.

I added mine to my personal belongings for a small premium.

Regards

George

Mag07

Link Posted 17/11/2015 - 10:16
It seems easiest and cheapest to just add that to your house content's insurance. Just make sure you are covered in and out of the house, including traveling.
Haven't had to claim anything in the last decade so tough to judge how good or bad the policy is atm but don't foresee any issues just looking through the agreement. I use one insurer for everything - home, car, travel etc...seems most cost effective.
'Photography...it remembers little things, long after you have forgotten....' (Aaron Siskind)

andy_bell

Link Posted 17/11/2015 - 10:22
My wife's and my gear is covered by out household insurance policy which is with AVIVA.
We have had the misfortune to have 2 dropped equipment claims over the last few years, both supported by repair/beyond repair quotes from the relevant manufacturer service departments.
Both claims were settled in full over the phone in minutes once AVIVA had the relevant quotes from JPS (Pentax) & Sigma.
To me that is how insurance should be, so hats off to AVIVA for getting it spot on twice in the space of 3 years....
I will continue to be their customer, as they are there when I needed them, and have had hassle free service when I did use them.

Andy
A few bits & Bobs

doingthebobs

Link Posted 17/11/2015 - 18:08
On my household policy there is a separate section for items taken out of the home. I pay extra but it is one of the cheapest ways to cover you camera gear.

You need to check your policy wording as each policy will have different details, some may require items to be listed over a certain value.
Bob

fatspider

Link Posted 17/11/2015 - 19:43
Most insurers we've had don't bother with the need to specify individual items unless any single one exceeds 1000 (that's replacement value) Bodies and lenses are classed as individual items.

You need cover with accidental damage for contents away from home, just make sure you have enough cover for your kit plus extra as muggers will also take your phones and jewelry and gold fillings etc
My Names Alan, and I'm a lensaholic.
My PPG link
My Flckr link

davem

Link Posted 17/11/2015 - 20:30
I have my camera gear insured through the household insurance but as an extra collection. It costs a few pounds more but at least I know my hobby is covered.

davem

Link Posted 17/11/2015 - 20:31
Oh yes - hello Alan, how are you? Is it nearly time for Christmas drinks with HG?

Dave

SteveF

Link Posted 17/11/2015 - 20:49
Different companies have different approaches, time to call yours, I think

50mpCMOS

Link Posted 18/11/2015 - 02:08
Strongly weight the following; as can be found on quite the variety of policies throughout numerous countries of the world.

1. Does the insurance cover the item if it is (**ever**) used on a professional basis?
2. Homeowners insurance may very well not cover ones camera purchases IF the camera is used professionals.
3. If the camera equipment is in a vehicle, and the vehicle and contents (outside of people) are destroyed in an accident of no fault on oneself, then... It is not unusual to need both ones OWN car and or renters/owners property policy.
4. Even if equipment is covered under a homeowners policy; there are still considerable restrictions on that same policy such as... Never keeping a camera in a basement, attic, or certain other places.

fatspider

Link Posted 18/11/2015 - 09:01
davem wrote:
Oh yes - hello Alan, how are you? Is it nearly time for Christmas drinks with HG?

Dave

I could do that
My Names Alan, and I'm a lensaholic.
My PPG link
My Flckr link

JohnX

Link Posted 18/11/2015 - 09:07
Covered under my household policy, with the usual caveats on maximum value of claim, not leaving it unsecured, not leaving it in my car boot (check this one with your company!), etc.

fatspider

Link Posted 18/11/2015 - 09:12
Quote:
3. If the camera equipment is in a vehicle, and the vehicle and contents (outside of people) are destroyed in an accident of no fault on oneself, then... It is not unusual to need both ones OWN car

That's a good point, having read my policy schedule carefully following my claim I discovered I was only insured for a maximum of 1000 for anything stolen from a locked car, whether that's referring to the limit for individual items or the limit for a claim wasn't very clear. I'll certainly be checking that when the policy comes up for renewal as I often take a bag full of kit of which most is left in the car.
My Names Alan, and I'm a lensaholic.
My PPG link
My Flckr link

davem

Link Posted 18/11/2015 - 11:31
but I have not got a car... only my campervan Perhaps I should check my insurance
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