Pixtus - Photography Forum, Photographers, Photo Tips

barP · **insuring your equipment -** 01-28-2008, 02:10 PM

i know this has been discussed a little bit, but i thought i'd ask the question in a different way.

how are you insuring your equipment? how much is it costing you?

wp.

Howard Barlow · 01-28-2008, 02:14 PM

Through PPA. $2.40 per thousand, if I recall. All risk, worldwide.

CobyPhoto · 01-28-2008, 02:25 PM

What Howard said. Marsh Affinity is the only real all-risk, worldwide, equipment insurance with a decent deductible and price. Deductible is only $100.00. Folaters, riders and others all have much higher deductible. (So does Hill & Usher's policy!)

CJ

SaundraU · 01-28-2008, 02:45 PM

Acuity Ins 500/yr gets me:

1,000,000 Liability
5,000 Medical (per person)
100,000 Damage to premise rented to me
2,000,000 Products
2,000,000 Aggregate Limit
2,500 Forgery/Alteration
Plus some minor other coverages

250.00 Deductible

CobyPhoto · 01-28-2008, 02:55 PM

OP was looking for Equipment Insurance. What you have listed is a total business package and doesn't even cover equipment as you have it listed. Would be willing to be it dosn't cover your equipment either, as All-Risk insurance would.

CJ

SaundraU · 01-28-2008, 04:17 PM

Quote:

Originally Posted by CobyPhoto

OP was looking for Equipment Insurance. What you have listed is a total business package and doesn't even cover equipment as you have it listed. Would be willing to be it dosn't cover your equipment either, as All-Risk insurance would.

CJ

Actually it does at replacement cost - sorry forgot that page.

CobyPhoto · 01-28-2008, 04:30 PM

Quote:

Originally Posted by SaundraU

Actually it does at replacement cost - sorry forgot that page.

Acuity Ins 500/yr gets me:

1,000,000 Liability
5,000 Medical (per person)
100,000 Damage to premise rented to me
2,000,000 Products
2,000,000 Aggregate Limit
2,500 Forgery/Alteration
Plus some minor other coverages

250.00 Deductible

I would sure like to see that policy! I find it extremely hard to belive that your equipment insurance is All-risk and beats the price of Hill & Usher and Marsh Affinity Group two of the largest photography equipment insurance brokers in the world. Either I and everyone one else insured under Marsh and H & U are getting screwed or your insurance for equipment isn't all-risk, and only covers your equipment in the location of the business, from theft, fire, etc. and not accidental dropage, mysterious circumstanes etc.

If it DOES cover ALL-RISK, I certainly want to start using that insurance company!

CJ

Jay Henley · 01-28-2008, 04:32 PM

I have a floater with Farmers for $6,900 value. It cost me $83.00 a year with no deductible and covers worldwide.

Howard Barlow · 01-28-2008, 04:32 PM

From the looks of their site, Acuity does not service much of the country, Texas included. They advertise they are regional.

CobyPhoto · 01-28-2008, 04:37 PM

Quote:

Originally Posted by Jay Henley

I have a floater with Farmers for $6,900 value. It cost me $83.00 a year with no deductible and covers worldwide.

Is your equipment used in a business? Most personal item floaters like this won't cover your equipment if used in a business. Only personal.

I shopped around with ALOT of companies to get my ALL-RISK and Farmers, State Farm, AllState (blows) etc. wouldn't write it for business. If they did, they wanted way more than what Marsh Affinity Group wanted, or they had a totally unreasonable deductible like 1000.00-1500.00 per incident! And I have been insuring my equipment for 20+ years this way.

CJ

SaundraU · 01-28-2008, 04:46 PM

Quote:

Originally Posted by CobyPhoto

I would sure like to see that policy! I find it extremely hard to belive that your equipment insurance is All-risk and beats the price of Hill & Usher and Marsh Affinity Group two of the largest photography equipment insurance brokers in the world. Either I and everyone one else insured under Marsh and H & U are getting screwed or your insurance for equipment isn't all-risk, and only covers your equipment in the location of the business, from theft, fire, etc. and not accidental dropage, mysterious circumstanes etc.

If it DOES cover ALL-RISK, I certainly want to start using that insurance company!

CJ

CJ I searched with my regular insurance agent for many months to make sure we were getting the best deal and everything I needed. Covers any loss of equipment. It's also easily adjusted to add a rider for location shots.

TX is not a covered state so it may be why it didn't fall under your radar.

Jay Henley · 01-28-2008, 04:46 PM

It is a personal floater.

Quote:

Originally Posted by CobyPhoto

Is your equipment used in a business? Most personal item floaters like this won't cover your equipment if used in a business. Only personal.

I shopped around with ALOT of companies to get my ALL-RISK and Farmers, State Farm, AllState (blows) etc. wouldn't write it for business. If they did, they wanted way more than what Marsh Affinity Group wanted, or they had a totally unreasonable deductible like 1000.00-1500.00 per incident! And I have been insuring my equipment for 20+ years this way.

CJ

SaundraU · 01-28-2008, 04:47 PM

Quote:

Originally Posted by CobyPhoto

Is your equipment used in a business? Most personal item floaters like this won't cover your equipment if used in a business. Only personal.

I shopped around with ALOT of companies to get my ALL-RISK and Farmers, State Farm, AllState (blows) etc. wouldn't write it for business. If they did, they wanted way more than what Marsh Affinity Group wanted, or they had a totally unreasonable deductible like 1000.00-1500.00 per incident! And I have been insuring my equipment for 20+ years this way.

CJ

CJ is right if you make money and the equipment breaks and the insurance company gets wind of it you won't be covered.

Howard Barlow · 01-28-2008, 04:48 PM

Quote:

Originally Posted by SaundraU

It's also easily adjusted to add a rider for location shots.

Is this something you have to do each time you go out? With Marsh, you are covered 24/7, worldwide, from day one.

Roadrnr · 01-28-2008, 04:50 PM

Quote:

Originally Posted by CobyPhoto

Is your equipment used in a business? Most personal item floaters like this won't cover your equipment if used in a business. Only personal.

I shopped around with ALOT of companies to get my ALL-RISK and Farmers, State Farm, AllState (blows) etc. wouldn't write it for business. If they did, they wanted way more than what Marsh Affinity Group wanted, or they had a totally unreasonable deductible like 1000.00-1500.00 per incident! And I have been insuring my equipment for 20+ years this way.

CJ

Actually, Farmers will cover the camera floater on your home policy and it doesn't matter if it is used in business or not. It's under the scheduled personal property endorsement on the home owners policy. The cost for that is pretty inexpensive.

Now, if you have a physical studio, a personal articles floater is not for you. You need some sort of Business Owner's Policy (BOP) to cover both the property and the general liability.

Oh, and the PAF is ALL-RISK as well...