1. Reminder: Please use our affiliate links for holiday shopping!

Camera Insurance?

Discussion in 'Open Discussion' started by taz98spin, Apr 6, 2012.

  1. taz98spin

    taz98spin Mu-43 Top Veteran

    843
    May 13, 2011
    NYC
    Last time I purchased camera insurance was for a Sony p&s which I never
    utilized because the camera never broke and I moved on to another camera.

    Now that I have spent big dollars to get a FujiFilm X-Pro1, I think I need to get camera insurance.

    Could you guys let me know which one might be the best?

    Thank you! :smile:
     
  2. gsciorio

    gsciorio Mu-43 Top Veteran

    636
    Dec 29, 2011
    Miami, FL
    Do you mean actual insurance or extended warranty? Whats best depends on your needs. If you shoot a lot and shoot in working professional environments then you may consider adding your new camera to your insurance policy.

    Personally I think insurance and warranties are a waste of money. How much was your Fuji $2000.00? Is that really worth insuring? I know its a cool camera but its not a major purchase.
     
  3. pxpaulx

    pxpaulx Mu-43 All-Pro

    Jan 19, 2010
    Midwest
    Paul
    If you're talking about insurance and not warranty, I recently talked to my agent and decided against it. I usually only take a couple of lenses and a body with me at one time - they are either with me or in the car - if in the car they are covered if stolen.

    The coverage was under $100 a year for all of my gear (probably approaching a 5 figure value by now) - the insurance would also cover damage, however there is a deductible of $200 for any claim. So it would cost $200 to fix, and then the premium would also be raised (he said at least doubled) - if one things gets damaged, I'm better off getting it repaired or replaced myself - I haven't broken anything in 6 years of regular use, so I figure I'm $600 ahead on the premiums anyway!

    So, there isn't much value unless you take your gear places where there is a high probability of theft - for vacations I think you can purchase travel insurance anyway, that is the only time I would be mildly concerned about theft, so didn't bother with regular coverage.
     
  4. Ned

    Ned Mu-43 Legend

    Jul 18, 2010
    Alberta, Canada
    Most non-professionals add it to their home-owners or renters insurance. For professional photographers, you can add equipment to your commercial insurance alongside your commercial liability. That is the best way, as I've heard horror stories of people trying to collect on cameras from home-owners insurance. They may try to use loopholes to avoid paying out, including claiming the camera is for business purposes because the camera is "too professional" or something (your camera even has "Pro" in its name!). With commercial insurance, your equipment is truly covered. If you can't get commercial insurance, I wouldn't bother...
     
  5. demiro

    demiro Mu-43 Hall of Famer

    Nov 7, 2010
    Commercial insurance is not the only good option. Talk to you whomever insures your home/apt about it -- don't just believe what any of us tell you.

    Here is a link to a thread on POTN about the subject. Talks about various options: LINK
     
  6. Armanius

    Armanius Mu-43 All-Pro

    Feb 23, 2010
    Houston
    Muttley
    I added my M9 and 50 Summilux as itemized floaters on top of my homeowner's insurance. Have to pay extra annually. But floaters are not subject to the deductible of the general policy. And there won't be any debates as to whether or not they are covered.
     
  7. taz98spin

    taz98spin Mu-43 Top Veteran

    843
    May 13, 2011
    NYC
    Thank you all for your replies!

    Always find this forum informative & helpful! :thumbup:
     
  8. Ralser

    Ralser Mu-43 Regular

    67
    May 28, 2011
    There was information on the art fair photo site about this. If you even sell 1 photo they can deny coverage on your homeowners insurance.

    GH2, 14-42, 14, 20, zuiko 50 f1.8
     
  9. lenshoarder

    lenshoarder Mu-43 All-Pro

    Nov 7, 2010
    Get it insured. It cost virtually nothing, $1 per $100 of coverage a year. Ask your insurance agent about starting a Personal Articles Policy, PAP. Some companies called it a "Marine Rider" for some reason. A PAP is meant to cover items to carry on your person. I have my cameras, laptops, cell phones (grandfathered), etc, etc covered under one. There is no deductible. As I said, it costs $1 per $100 of coverage, but there will usually be a minimum. For my insurance company it's a mininum of $50/year premium to cover $5000 worth of stuff. No problem for me. So if you camera cost $2000, I think it's worth $20/year to insure it.