Gavin Slabbert
10-01-2013, 01:54 PM
Equipment Insurance Question:
This is an issue that comes up for me every year, and I was wondering how you professional & semi Pro photographers handle your equipment insurance, and what equipment insurance companies you guys use.
I have looked at the PPA rates and they offer free equipment Insurance as part of their membership, but that insurance is for the depreciated value, so it is of little value as you are unable to replace equipment if stolen.
They also offer a Photocare Plus package I believe that it is called but again I would have to stipulate the value of the equipment purchased as the value / price paid. IE: If I bought a 400 f/2.8 used for say $2000.00 I could only value it for $2000.00 and not $5000.00 which would be actual value. Further If the equipment was purchased new and no longer being made by Canon, then for me to replace it based on the policy docs, I would have to insure the same 400 f/2.8 for $10,000 which would be theprice of the new version of the lens, even though I only paid $2000.00.
I have also looked at and used Hill & Usher for a couple of years now but to me their policy is pricey.
At the current rates my insurance for equipment would run me around $720.00 a year ($60.00 per month), basically priced out at $1.75 per $100.00. Though I would have to pay this lump sum, I can still cost it out at $60.00 per month and was wondering if I should stop being so damned cheap and just absorb it as a cost of business and move on.
Who do you guys use and where should I look ?
Thanks for any ideas or suggestions
This is an issue that comes up for me every year, and I was wondering how you professional & semi Pro photographers handle your equipment insurance, and what equipment insurance companies you guys use.
I have looked at the PPA rates and they offer free equipment Insurance as part of their membership, but that insurance is for the depreciated value, so it is of little value as you are unable to replace equipment if stolen.
They also offer a Photocare Plus package I believe that it is called but again I would have to stipulate the value of the equipment purchased as the value / price paid. IE: If I bought a 400 f/2.8 used for say $2000.00 I could only value it for $2000.00 and not $5000.00 which would be actual value. Further If the equipment was purchased new and no longer being made by Canon, then for me to replace it based on the policy docs, I would have to insure the same 400 f/2.8 for $10,000 which would be theprice of the new version of the lens, even though I only paid $2000.00.
I have also looked at and used Hill & Usher for a couple of years now but to me their policy is pricey.
At the current rates my insurance for equipment would run me around $720.00 a year ($60.00 per month), basically priced out at $1.75 per $100.00. Though I would have to pay this lump sum, I can still cost it out at $60.00 per month and was wondering if I should stop being so damned cheap and just absorb it as a cost of business and move on.
Who do you guys use and where should I look ?
Thanks for any ideas or suggestions