Best place for Camera and Gear insurance

I tried a forum each with no luck on this.

I probably have $40k in camera gear accumulated now and travel quite a bit. I want to insure my gear but don't have a clue where to look. I just received a mailer from PPA and they offer $15k gear/photography insurance with professional membership. It's $27.00 a month for the membership. I'm sure you can pay more for more coverage when you join. Is this the best deal out there? What other options are available. I'm tired of pushing my luck. The airlines have scared me too many times now. Not to mention the clumsy friends tripping over things. Help!

Let me add, I'm not a working professional. That may come some day but right now I have a job and shoot mostly for the fun of it. I'm guessing I should look into indemnity as well to be safe.

Comments

  • IronheartIronheart Posts: 3,017Moderator
    edited November 2015
    If you are not a professional, a rider to your homeowners insurance is generally the cheapest.
    Post edited by Ironheart on
  • autofocusautofocus Posts: 625Member
    Thanks @Ironheart. Checked mine and it's very limited to say the least. Not an option for substantial coverage.
  • IronheartIronheart Posts: 3,017Moderator
    edited November 2015
    You need a policy rider, call your insurance agent. It's usually super cheap and based upon the total amount you want to cover.

    "DEFINITION of 'Rider' A provision of an insurance policy that is purchased separately from the basic policy and that provides additional benefits at additional cost. Standard policies usually leave little room for modification or customization, beyond choosing deductibles and coverage amounts."

    I should add that it is typically 1% of the value of the equip per year. So you would need $400 to insure your $40k worth of gear.
    Post edited by Ironheart on
  • autofocusautofocus Posts: 625Member
    Thanks again Ironheart. Yes, we've spoken to our agent. It's the coverage limitations that I'm not fond of. Their liability is limited to premises and very limited to damage. That's why I'm seeking something that covers travel and all things in between. You are correct, the rider is reasonable however it really doesn't support my activities.
  • IronheartIronheart Posts: 3,017Moderator
    You have crappy insurance then, mine is covered no matter what I do to it, anywhere in the world. State Farm, go figure.
    Personally I would shop my homeowners insurance around, and make sure you really have replacement value on all your stuff, not just camera gear. This thread has many more details about other options:
    http://forum.nikonrumors.com/discussion/456/insurance-for-photography-gear/
  • autofocusautofocus Posts: 625Member
    I'm really considering the PPA route. Would love to hear from anyone that may be a member.

    @Ironheart, I do have crappy Homeowners insurance. Not changing it since we are selling the house and moving South. I'll pay more attention next time my wife makes decisions. Also, I'm thinking I want something to cover me when out shooting. I do shoot events sometimes and think it best to be covered. Thanks for your replies.
  • WesleyWesley Posts: 67Member
    D700: 24-70 2.8, 85 1.8G
    D3100: 18-55
    A7II: 16-35 F4, 55 1.8, 70-200 F4
  • retreadretread Posts: 560Member
    I have a rider on my home owners insurance that pays up to the insured value of each item. I have had to use it once and it was no hassle. I just provided a copy of the Nikon repair bill and they set me a check.

    It covers me where ever I am. My auto insurance covers it when in the car. Even if stolen from the car.
  • kanuckkanuck Posts: 1,300Member
    Another interesting and useful topic. State Farm sounds good, I use BCAA from my hometown in Canada whenever I am at home, which is rare. Most of my work and travel is based out of Korea so I usually use Samsung Marine Insurance it is called.

    How did you make out autofocus are you good?
  • ExpensiveHobbyExpensiveHobby Posts: 27Member
    I have USAA (not everyone can join though). It costs me about $22/year per $1000 in replacement value (approx $1.85/mo). They say I'm covered anywhere I travel and it covers any type of damage or loss, including theft. I hope I never have to find out. Note that this is not considered a rider, but is a separate "valuable personal property" policy.
    D7000 | D70s |Nikkor 18-70mm | 16-85 VR | 80-200 2.8 D | 50 1.8G | 50 1.4 (manual) | Tamron 200-500 | Sigma 10-20 f3.5 | SB-800 | Manfrotto 190XPROB + 486RC2 Ball |
  • autofocusautofocus Posts: 625Member
    @kanuck I'm traveling again so haven't had time to research. @ExpensiveHobby that sounds interesting. I may have to look at USAA. Retired Army so they have always been on the radar. Didn't know about this though. Thanks
  • MsmotoMsmoto Posts: 5,396Moderator
    edited November 2015
    As a non professional, State Farm gives me complete coverage at about $1.00 per year for each thousand dollars of value. I also have my car and homeowners insurance with State Farm.

    My biggest concern is theft as I carry my gear to some places I do not know many of the folks, and of course, dropping the big gun would not make me happy as well.

    As for the PPA, please investigate the cost carefully. I was going this route and after discovering that the underwriter was not approved in North Carolina, it was going to cost me about $1.75 per year per thousand.
    Post edited by Msmoto on
    Msmoto, mod
  • kanuckkanuck Posts: 1,300Member
    Yes, State Farm is probably the way to go for most shooters I would imagine. That is incredible value Msmoto! 1 buck for each G and per year!
  • MsmotoMsmoto Posts: 5,396Moderator
    Oh, wait, this is an error in my calculations....my sincere apologies to all...old folks make errors....it is $11.89 per thousand per year for all risks, drop, break, leave behind, whatever.....the PPA was about $17.50 for the same coverage.

    Again, my apologies.
    Msmoto, mod
  • Parke1953Parke1953 Posts: 456Member
    $100 to $200 a year It's still very cheap to insure your equipment. We spend way more than that on coffee.
  • autofocusautofocus Posts: 625Member
    Thanks @Msmoto. Thanks to all for the input.
  • kanuckkanuck Posts: 1,300Member
    $100 to $200 a year It's still very cheap to insure your equipment. We spend way more than that on coffee.
    No doubt! That's what? A full tank of gas once? Very cheap for insurance and peace of mind for sure.
  • autofocusautofocus Posts: 625Member
    Resurrecting this. I have another opportunity to shoot some marketing photos for a business and I'm concerned about liability if something happens. I'll be shooting at the business location with lots of expensive motorcycles and cars. Additionally I travel often and carry a considerable amount of camera equipment. I know it's only a matter of time before something gets lost, stolen, or broken.

    Are there options other than PPA for both loss and liability for photographers?
  • Vipmediastar_JZVipmediastar_JZ Posts: 1,708Member
    @Autofocus My wife works at an Insurance broker. Previously at an insurance company. I got my policy with her several years ago with a very low deductible. I can give you her contact info.
  • CoastalconnCoastalconn Posts: 527Member
    I went with Hill and Usher package choice since they seem to cater to photogs. My policy is a little over 500 a year for 12k in gear for any type of damage and a million in liability plus errors and omissions coverage.. I just wanted to cover my gear if it was stolen or I fall in the water, but there was almost no difference on price with and without liability so I'm fully covered if an Osprey is not happy with their image.. http://www.packagechoice.com/index.jsp#htwms
  • ShuntoShunto Posts: 6Member
    I have statefarm for everything.... I looked into getting policy with them years ago when i only had one body ad a few lenses. They told me i had to get my gear appraised. I guess at the time i decided that is wasn't worth the effort.

    Years later and lots more gear. i think will will rethink my thinking.
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