Insurance on camera gear (State Farm/etc)

[dmora]

Anyone have their gear insured thru homeowner's/renter's insurance? Is there a better recommended means of insuring against, damage/theft?

I talked to my insurance agent and he tried to explain that they will only cover the cost of replacement for similar product, and will not cover the difference of depreciation. This would make sense if i had bought for example a 18-55 kit lens or similar as new and paid $300+/- new, where as used theyre only $100 used if that.

But on things like nice glass that do not depreciate over 5 years or so would that be a concern? Am i assuming too much just based on previous markets where there's been no decline in values on exceptional lenses?

[johnastovall]

If you have State Farm talk to your agent about an 'inland marine' sometimes called 'personal articles' policy.

They insure for full value and will want serial numbers, pictures and receipts.

Actually some lenses go up like the Zeiss Contax 21/2.4 Distagon, Canon 50/1.0 and many of the Leica lenses that are not in production.

[dmora]

Originally Posted by johnastovall

If you have State Farm talk to your agent about an 'inland marine' sometimes called 'personal articles' policy.

They insure for full value and will want serial numbers, pictures and receipts.

Actually some lenses go up like the Zeiss Contax 21/2.4 Distagon, Canon 50/1.0 and many of the Leica lenses that are not in production.

cool thanks. :)

[jeffkohn]

Other insurers should have similar add-ons. With Allstate they call it scheduled item coverage but it's the same thing.

The only thing to watch out for, some of these policies may have exclusions for gear used for professional use, so if you're in business you might need to look into a separate policy.

[billbunton]

With State Farm at least, they do two different schedules, one for purely personal use and one for "professional" use. I know a lot of people sell prints but still insure as personal. I have been told by my agent that they will consider the sale of a single print as proof of professional use, and refuse to pay if you took the personal route. Just something to be aware of...

[dmora]

Originally Posted by billbunton

With State Farm at least, they do two different schedules, one for purely personal use and one for "professional" use. I know a lot of people sell prints but still insure as personal. I have been told by my agent that they will consider the sale of a single print as proof of professional use, and refuse to pay if you took the personal route. Just something to be aware of...

yea they are aware that its going to be professional. especially considering i'm submitting receipts for expensive camera gear.

[venchka]

Bill,

Would the sale of a single print mean that the body+lens used for that print be considered professional use? Or everything I have insured? Sounds like a can of worms I need to discuss with Tammy the next time I see her.

[billbunton]

As far as SF is concerned, according to my agent, sale of a single print means that _you_ are professional, and _all_ your equipment is considered professional use.

While I've been insured through them for a few years, I'm getting tired of some of the ambiguity and different stories I hear from other people in talking to their agents. I'm planning on switching to the insurance through NANPA (in fact, I gotta get moving on that!)

[venchka]

Thanks Bill.