That is a sensible approach. I think I'll do someithing similar. Thanks for the input.
Photography Equipment Insurance Options (retitled discussion)
- Thread starter Hooligans Imagery
- Start date
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Yes - that's where trip insurance and backup gear come in. It's not an insurable risk on gear insurance policies and riders.
We've had separate threads about how you can backup your gear. There are a lot of options.
I maintain a spreadsheet with every item, where purchased, purchase price, condition, current replacement value based on KEH, and the serial number for each item. I drop coverage on older items or accessories at some point, but low value items cost very little to insure. Each year I provide an update with changes to my insurance company. New items and sold items are reported 1-2 times a year.
It takes a while to build this kind of spreadsheet - and you may be missing some information the first time. Over a couple of years it ends up being a very good tool. If you wanted, you could make a version of it with the weight of each item and use that for trip planning.
Yes, I've had an equipment SS for years and years. I keep it up to date with pertinent info but I hadn't thought to add weight. It makes it simple to crate a list for the insurance company. I keep track of purchase price and sold price (sold/disposed-of items are on a second sheet). Looking back at that sold list is an eye opener to see what I've spent on camera gear since 1990....wish I had that cash value now....
I have a separate spreadsheet like Erik with serial #'s, price, where purchases, filter size, etc.
I also have a separate spreadsheet with EACH item of gear (camera bodies, lenses, extra batteries, computer, external HDs, etc) and its weight. Then I have 4 columns......backpack (carry on), computer bag (carry on), checked bag and wearable vest.
For each trip, I decide what I am taking, then decide how I will carry it. This way I can manage the weight in both my backpack and computer bags (both carry ons) and what goes in the checked luggage.
I also have a separate spreadsheet with EACH item of gear (camera bodies, lenses, extra batteries, computer, external HDs, etc) and its weight. Then I have 4 columns......backpack (carry on), computer bag (carry on), checked bag and wearable vest.
For each trip, I decide what I am taking, then decide how I will carry it. This way I can manage the weight in both my backpack and computer bags (both carry ons) and what goes in the checked luggage.
That's being organized all right. Smart. Since I travel mostly by vehicle, not planes, weight is not in my SS. I have an airport roller with everything except the Z9 and 500/4E which I keep in a Kinesis Long Lens case (or on my tripod). I have a couple of TT Shoulder bags to choose from if I'm not taking the 'kitchen sink'...
I have never seen a trip insurance policy that would cover me if my equipment was stolen en route to my destination.
I need to read about backin up gear when traveling.
I have one spreadsheet (printed out) with description, serial number, replace cost. I keep a copy on my phone, in my camera bag and in my computer bag.
This might be helpful to review regarding stolen equipment coverage: https://www.generalitravelinsurance.com/view-travel-insurance-plans.html .
--Ken
FYI, I wrote an inventory app for the iPhone so I could have the cost, serial numbers, etc. with me at all times. It is free as I do this for fun and my needs. Just search the app store for "MyItems+". All data is encrypted so it can only be read with my app.
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gjh
New member
I cannot get a rider on my homeowners, I've had two different carriers and neither one would give me a rider for accidental coverage for camera equipment. I looked into other coverage (which wasn't easy to find) One was Progressive and for 10k in coverage the cost was going to be over $700 a year. I may look into PPA or if anyone has something besides a rider, if you wouldn't mind saying who you have your coverage through, I sure would appreciate it. I want accidental included, not just theft. TIA.
gjh
New member
Cool. Thank you. Just downloaded it to my phone.
You would send it to the manufacturer.
They do not cover loss of use or replacement rental for photo gear. I just checked.
I think Carolinas Nature Photography Association was putting something in place as optional member coverage. I don't see anything right now.
NANPA has a good policy. Cost is similar to PPA, but dues are only $100 per year. Cost is around $2.30 per $100 of value.
Cincinnati Insurance has very good coverage as a rider on their homeowners policies. It's around $1.35 per $100 of value with no deductible for scheduled items. It covers loss, theft, and accidental breakage or damage - including during international travel. It's a top rated company.
That’s a bargain for $100k I’m going to look into this because just insuring a pair of a1’s, 600GM and 400GM cost me around $1k a year as a special rider on my home owners.
Bobcape
Active member
I recently bought coverage through USAA. If you qualify, it’s a good bargain. They call it their Valuable Property Policy. I’m covering $12.7K for $203 per year. It is zero deductible and pays replacement cost. It covers theft, loss and accidental damage.
Bob
Bob
HI Bob
That is $1.60 per 100 of insurance. Very similar to what I pay with State Farm.
I checked PPA plus out and the $175 quote is for $5,000. To get $100K of coverage, the cost is $2,130. Around $2.13 per 100 of coverage
Wow then my policy is way better.
I find a rider on home owers is almost always less expensive. Not sure why .. perhaps people buy stand alone insurance when they engage in risky activity
I have such a rider on my policy through USAA. Reasonable pricing. No claims to date and not in a hurry to generate any. Hobby shooting only.
Not mentioned so far is that am amateur not taking special risks with their gear may be well served by a home owners policy, whereas a pro especially if taking special risks with their gear needs specialist pro-photographyy insurance.
The comparison between 2 types of insurance in this thread needs taking for what it definitely is not
It is not reasonably representative of the wide range of covers available under different home owners policies or the smaller range of policies intended for professional photographers.
The comparison between 2 types of insurance in this thread needs taking for what it definitely is not
It is not reasonably representative of the wide range of covers available under different home owners policies or the smaller range of policies intended for professional photographers.
PPA covers professional use - thus the higher rate. All the homeowner policies cover non-professional use only. How they define professional use varies. Some are very strict - any professional sales or promoting yourself as a professional at any point means you are not covered by a non-professional policy. Others look at materiality or the amount of professional activities involved.
With any of these policies, be sure you are getting the appropriate amount of coverage. It depends on the company. Replacement coverage can be buying a new copy of an item, buying a used or refurbished copy, paying you a sum of money allowing you to buy a new copy, or paying you to buy a used copy.
I've always taken the approach that I don't expect to profit from a loss. I insure based on the current value to replace my gear at KEH - updated each year. I don't pay for replacing it with a new item, and my premium stays low because I insure actual current replacement value. If I have a loss, the value of my gear is determined and I get a check for that amount.
With any of these policies, be sure you are getting the appropriate amount of coverage. It depends on the company. Replacement coverage can be buying a new copy of an item, buying a used or refurbished copy, paying you a sum of money allowing you to buy a new copy, or paying you to buy a used copy.
I've always taken the approach that I don't expect to profit from a loss. I insure based on the current value to replace my gear at KEH - updated each year. I don't pay for replacing it with a new item, and my premium stays low because I insure actual current replacement value. If I have a loss, the value of my gear is determined and I get a check for that amount.