Photographers / filmers - property insurance?

[tkp]

So I've asked around, but want to keep asking. Let's say you have $5000 of camera gear. Getting it insured seems wise. So anyone out there do this ? I've had some advice of Personal Property Insurance but want to know who you personally use for these services.

[FrenchFuck]

Definition of 'Floater Insurance'
A type of insurance policy that covers property that is easily movable and provides additional coverage over what normal insurance policies do not. This can cover anything from jewelery to expensive stereo equipment.

Alternatively you could also get it covered through homeowners insurance. Either way you're going to want to call your insurance company and ask questions.

I've had 2500$ worth of equipment covered for 40$ a year. It's pretty cheap and everyone should get it.

[TMKF]

Definition of 'Floater Insurance'
A type of insurance policy that covers property that is easily movable and provides additional coverage over what normal insurance policies do not. This can cover anything from jewelery to expensive stereo equipment.

Alternatively you could also get it covered through homeowners insurance. Either way you're going to want to call your insurance company and ask questions.

I've had 2500$ worth of equipment covered for 40$ a year. It's pretty cheap and everyone should get it.

Yep its usually referred to as a "personal items floater or rider" you can add it onto your home owners, rental or even car insurance(with select companies). Just call your insurance agent and let them know what you'd like to do and they should be able to help you. I use Allstate and they've always made it easy and its super cheap.

[victor333]

Definition of 'Floater Insurance'
A type of insurance policy that covers property that is easily movable and provides additional coverage over what normal insurance policies do not. This can cover anything from jewelery to expensive stereo equipment.

Alternatively you could also get it covered through homeowners insurance. Either way you're going to want to call your insurance company and ask questions.

I've had 2500$ worth of equipment covered for 40$ a year. It's pretty cheap and everyone should get it.

I've always wondered how stuff like this works in the event of theft.

I think you have to file a police report saying whatever was stolen, but what's to stop someone from just stashing their gear somewhere and saying someone stole it? How do companies protect against insurance fraud?

[ruiner2]

I used my home insurance(Farmer's), cost about 4% of the value to cover the gear for the year. Keep in mind that you still need to pay a deductible to get that money in the event of theft or accident so it could potentially cost more than your annual fee.

[FrenchFuck]

Keep in mind that you still need to pay a deductible

Police report , deductible , investigation. I've never had my gear stolen/damaged but I have the insurance just in case.

Quoting from a guy who knows more than me

"Just letting you guys know, if you list your stuff on your policy that's subject to depreciation, the insurance company doesn't have to reimburse you for the amount you listed. They'll reimburse you for the value at that time, or find you an item in similar condition. However, if you go with a deductible-based setup on your valuable items section of your home policy, you basically buy all the new stuff and the insurance company reimburses you with a check, minus the amount of your deductible. That's usually the better deal, so you can get all new stuff, minus whatever deductible you're at (mine is $1000). So basically anything under $1000 you have to purchase, but once you hit the $1000 mark the insurance covers the rest. Pretty good deal. Just make sure you have updated photos of your gear, along with a complete list of items with their corresponding serial numbers and new replacement values.

Check with your agent to make sure that terms of your policy support this before just assuming you're covered, though. "

[lampshade]

I've always wondered how stuff like this works in the event of theft.

I think you have to file a police report saying whatever was stolen, but what's to stop someone from just stashing their gear somewhere and saying someone stole it? How do companies protect against insurance fraud?

This falls under morality, ethics, and just generally not being a dick for the greater good of society.  You could probably get away with this scheme once, like when people charge a bunch of stuff on their Visa, then claim it stolen.

The renter's/home owner's insurance thing is a good idea for stuff worth a few g's.  We have it on our bicycles (worth about $12K retail) and it costs around $30 a year.   

[trannies and mannies]

I never really understood how this insurance works, but what if you have an older camera like a vx1000 that is more prone to breaking, and it breaks, what do they do?

[FrenchFuck]

I never really understood how this insurance works, but what if you have an older camera like a vx1000 that is more prone to breaking, and it breaks, what do they do?

It depends on your insurance. On mine if it's less than 1000$ damage/loss value I pay and whatever it is above that they pay. I got the insurance because I carry around 2500$ worth of stuff in my camera bag so if it gets jacked  I get a 1500$ check.