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Thread: Insurance

  1. #1
    Ausphotography Regular out n about's Avatar
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    Insurance

    Hi Everyone, since joining the forum a few months ago we have taken note of the photographic equipment that other participants own and after dropping our D90 recently then sending it in to get repaired we were wondering if there are any specific insurance for our gear and if so any suggestions would be appreciated, thanks
    Cheers Gayle & Colin

    Give Life your Best Shot.
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    Administrator ricktas's Avatar
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    I just have mine added to my home and contents. Each item and its value is listed separately on the policy, it costs me about an extra $150.00 a year, and includes accidental damage, if I drop it, etc
    "It is one thing to make a picture of what a person looks like, it is another thing to make a portrait of who they are" - Paul Caponigro

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    ^^^ same as Rick. I photographed all my gear and put values next to it then gave it to the insurance company. Have not had to make a claim but at least I know we are covered.

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    Do you put full replacement value next to the item?

    Do you update the value with the insurance company as the item ages - either increase as the replacement value goes up, or decrease as the second hand value goes down?
    I know nothing about anything, only what I like.


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    Administrator ricktas's Avatar
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    I just gave my insurance company a list of each item, when and where it was purchased, how much for, and the serial numbers.

    We then, in discussion, came up with a total figure, and I insured my gear for that amount.

    Each year, I provide my insurance company with an updated list, and then we negotiate a total amount to cover it for, thus they calculate the premium.
    Last edited by ricktas; 26-01-2012 at 11:50am.

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    I put the figure from camerasdirect.com.au.

    As Rick says, it is about getting a start point for the discussion and then coming to an agreed value. It is worth thinking about your gear before you decide what to itemise / exclude. I included batteries, CF cards , UV filters on each lens etc. My reasoning is if my bag goes then so do the spare batteries, spare CF cards, all the UV filters....

    That little lot alone comes to $1000. Sure they will replace the main items but if I do not specify the extras I am still well out of pocket.

    Important to talk to them though. When it comes to cameras they seem to want to 'bundle' things. Like which lens goes with which camera - well it took me about 30 minutes to convince the guy that it is impossible to say because depending on what I am doing any lens could be on either body. Discussion and documented agreement is the way to go.

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    Best to check with your insurance company and make sure you disclose accurate info about what you have and do with it, better still is to go through a broker, they are dearer but have better cover/inclusions generally and will go into bat for you in the event of a claim. It is of course a whole new ball game if you make $$$ from your gear, i.e sell photo's / services, that will most likely NOT be covered under a home policy. A lot of companies will only cover you for a certain amount per claim (away from home) so be specific about the exclusions in your policy.

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    Loves The Wildlife. Mary Anne's Avatar
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    I have mine with my Home and Contents Insurance.
    Five items I take away from home are insured separately as well, for the amount it cost me to buy them originally.
    Which is more $$$ than it would cost me to replace them at today's prices.

    I shoot with Canon And Olympus Cameras



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    Thanks everybody for your responses it has cleared up a few questions we had. As we are living in our caravan we naturally have caravan as well as contents insurance, when I phoned the insurance company to make a claim for the repairs to our D90 they were quite adamant that the incident that caused the damage to the camera had happened in the caravan or annex which luckily it did. We are wondering if this is the case for normal home and contents insurance or do you guys when adding your camera gear to your policy have an inclusion that damage or theft can happen away form home. Thanks again.

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    Loves The Wildlife. Mary Anne's Avatar
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    Did you tell you Insurance Company that you live in the caravan and ask if you need home and contents Insurance not just caravan and contents insurance
    If you go out for the day in the car only with your camera gear, you will need away from home insurance thats extra.
    Best you ring your insurance company they will put you right

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    Quote Originally Posted by out n about View Post
    Hi Everyone, since joining the forum a few months ago we have taken note of the photographic equipment that other participants own and after dropping our D90 recently then sending it in to get repaired we were wondering if there are any specific insurance for our gear and if so any suggestions would be appreciated, thanks

    Insured with AAMI under home and contents. I had to list all items over $1000.00. Items are insured against theft and damage, anywhere. About $80.00 per year.

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    Administrator ricktas's Avatar
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    Quote Originally Posted by out n about View Post
    do you guys when adding your camera gear to your policy have an inclusion that damage or theft can happen away form home. Thanks again.
    yes, mine covers accidental damage away from my home, I requested this in the policy

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    Spoke to my insurer (AAMI). I have a new for old policy so current market prices are good for the assessment. Covers accidental damage but only if not being used at the time. Example, I drop it into the ocean while taking sunset shots (even cliche ones) = not covered. Drop it while walking home = covered. I guess the reasoning is putting the gear in a position of danger while trying to get the shot adds to the risk.

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    Loves The Wildlife. Mary Anne's Avatar
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    Covers accidental damage but only if not being used at the time
    And what is the use of having Insurance if your gear is not covered for when it is being used ..
    Thankfully mine is covered.

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    Thanks everyone that has helped heaps we now know what questions to ask and what extras we need to have so will talk to our insurance company and get our policy updated. thanks again

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