Camera, lens and other optic insurance

[Isaac Grant]

Not sure if this is the right place or if this has been touched on already could some please point me in the right direction. I did a total of my gear. Looks like I have about $19,000 worth of gear that I take with me fairly regularly. This is 2 different lenses (Canon 500mm f4 is ii and the 100-400 ii), my camera (7d2) tripod, head, bags, binoculars (swarovskis) and my spotting scope (kowa). Way too much stuff to not have it insured. Could some please advise what is the best type of insurance to get for this gear. Pros and cons of certain types of insurance. Perhaps to links to affiliated companies?

[arash_hazeghi]

The cheapest but least reliable method is to add your equipment to your home owner's or renter's insurance, on paper they cover, however most companies will not accept it if you use your gear professionally (i.e. make any money from your photos). I have never heard of anyone successfully making a claim for a $10,000 super telephoto lens from a common insurance company (state farm, Geico, etc. )

The best method is to use dedicated professional insurance for camera gear, I use RAND insurance through my NANPA membership.


hope this helps

[Isaac Grant]

Thanks Arash for the response. Very interesting. I have explored the home insurance option. Seems cheap but wonder about them paying as well. Your option I would have to join NANPA and then pay the fee of what looks to be 2.45% Proves to be much more expensive. But if the coverage is better it is probably worth it. Was wondering if others have ideas or alternative options...

[David Stephens]

Thanks Arash for the response. Very interesting. I have explored the home insurance option. Seems cheap but wonder about them paying as well. Your option I would have to join NANPA and then pay the fee of what looks to be 2.45% Proves to be much more expensive. But if the coverage is better it is probably worth it. Was wondering if others have ideas or alternative options...

If you're not a professional photographer, then get a quote from your homeowners agent. If your carrier doesn't cover that risk, then someone like Transamerca will and your agent can get you that coverage. There'll likely be a separate rider on your super-tele, but the cost will only be a few hundred dollars for everything. I've never had a claim, but I have no reason to believe that I'n not covered. Full-time pros may not be able to get this type of coverage and will need to as Arash has done, but check with your agent first.

[Isaac Grant]

Thank you so much. Very helpful. Still trying to get the best info. I got a quote today from a company for $377 per year with a $1,000 deductible. Seems to high to me. Waiting to finalize info with my primary which is State Farm.

[Diane Miller]

We have State Farm for household and auto, and I did a policy with them for camera equipment several years ago. Our philosophy for things such as extended warranties is that in the long run, given the odds of failure, we are ahead if we self-insure, and that has proved to be the case. I've done basically the same thing with camera gear, only insuring the most expensive items -- currently the 600 and 400 DO. Will add the 1DX II when I get it. The rest of the stuff (which is a lot) I rarely have a significant amount with me all at once. Everybody's risks and ability to cover losses vs. pay for the insurance are different -- so it's really a matter of what you are comfortable with vs. your risks.

That's not helpful, I know, but a point of view to consider. Best of luck with a decision!