Equipment Insurance???

A

averagejoe

New member
Hello Everyone..

I just purchased about 10k worth of new equipment and I have 2 other DVX 100's and a bunch of ancillary gear to go along with all of it. I would like to have it all insured as the equipment will be traveling allot over the next few months internationally and I cant afford to replace it if something happens to it.

I had done a bit of poking around and came across a company called Heffernan Insurance Company also known as www.insuremyequipment.com. Has anyone used these people and if so were they good? If not can anyone make a solid recommendation? I want a full coverage policy not attached to my homeowners policy.

They quoted me $450.00 per year for up to $25,000.00.

is that reasonable?
 
I thought I had this kind of insurance with State Farm... and after 4 YEARS of them saying "no matter what happens, you're covered"... at my last renewal I said something about a camera being knocked over on a tripod... or dropped from a jib (both hypothetical scenarios, not reality)... and my agent says "well no, stuff like that isn't covered"... so I say "well what IS then?"... answer? "theft".

So... make DAMN SURE you got the facts straight before you buy... I'm pissed that I've been paying so much ASSUMING I was covered... well... good thing I never made a claim... but I took risks I wouldn't have taken... so I wanna' kick my agent in the nuts for basically lying 4 years ago and taking 4 checks as I was unclear on my coverage.

The reason I'm mentioning it is because that's exactly what I was paying through State Farm... same "coverage", same cost. Get your facts straight before you write a check.
 
Matt so who did you end up using for insurance?

I too am looking to insure my gear as I do a lot of moving(traveling) and also my shoots are starting to expand beyond just the "1-Man-Band" scenario. I'm hiring more people and/or renting more gear (either in state and out of state) and want to find an insurance company that would insure my tools, possibly the people I've hired(if that is worth it or necessary) and rented gear. I live in Oregon and work a lot in Washington state.

Any suggestions?

@Averagejoe - I'm checking out that link you posted as well.
 
I use Hartford. I got a million bucks of liability on me and 30K for gear.

Search the business forum there is some good stuff in there.
 
Still looking for a good Equipment Insurance Agent. My kit is nearing about 50k with Cameras, Lighting, Audio, Grip Gear, Computers and Storage. 9 times out of 10 I carry it ALL with me as I shoot out of the country quite a bit and it acts as a mobile studio so I can work on finished product.

I did learn the hard way last year, got just over 20k worth of gear stolen in Zimbabwe so its definitely to get coverage before heading back accros the pond. Any suggestions??
 
MattinSTL said:
I thought I had this kind of insurance with State Farm... and after 4 YEARS of them saying "no matter what happens, you're covered"... at my last renewal I said something about a camera being knocked over on a tripod... or dropped from a jib (both hypothetical scenarios, not reality)... and my agent says "well no, stuff like that isn't covered"... so I say "well what IS then?"... answer? "theft".
Click to expand...

I had a similar issue, except that my State Farm agent was much more up-front about it. I inquired after the first time I had invested in lots of gear of my own, and at the time had only renter's insurance. Our agent told us that renter's insurance wouldn't touch professional gear like that, so we ended up getting small business insurance. That covers gear from theft, damage, etc. It also comes with liability.
 
You have to thoroughly shop around since there is no standard policy, though you should first check with the company you already have your other insurance with for possible discounts. I have $30,000 coverage for theft, fire, accidental damage, etc., and it paid off no questions asked in both theft and accident cases. But if you travel out of the country with your gear things get much more complicated. You also should not be in business without liability insurance for at least a milliion dollars, though I sometimes wonder if that is enough these days. I'm finding rental companies requiring a certificate of insurance now before letting me rent a camera. It all costs me $1000/year which after tax write-off is less than $2 a day for peace of mind.
 
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C2V said:
I had a similar issue, except that my State Farm agent was much more up-front about it. I inquired after the first time I had invested in lots of gear of my own, and at the time had only renter's insurance. Our agent told us that renter's insurance wouldn't touch professional gear like that, so we ended up getting small business insurance. That covers gear from theft, damage, etc. It also comes with liability.
Click to expand...

If you got this small business insurance from State Farm you BETTER go back and ask directly about the DAMAGE part! This was my point... after 3-4 years of thinking I had that... one day I was paying a bill over the phone, and asked my agent again... and he said that it was ONLY loss and/or THEFT... and not "I lost my camera"... more like "I checked some gear for a flight and THEY lost it, and here's my proof that's what happened"...

I canceled that policy... because all it was really covering was theft and airline loss... I specifically asked "let's say my cam is on a crane and somebody knocks it over... is that covered?"...

"NO."

I used to take all kinds of risks with my gear... to get shots like you'd see on a Discovery reality show... thinking I was covered if I ever had a problem. Later I found out I WASN'T... and fortunately, I never had a claim, but if you have a State Farm small business policy, be warned, that's what I had... and on clarification found I wasn't covered on what they at first IMPLIED I was covered on. :thumbdown
 
MattinSTL said:
... but if you have a State Farm small business policy, be warned, that's what I had... and on clarification found I wasn't covered on what they at first IMPLIED I was covered on. :thumbdown
Click to expand...

Criminy.

I know that our agent told me it was loss, theft, or damage. I'll be reviewing that policy when I get back to my office.
 
Call your agent and ask... "hey what if my camera is on a crane and accidentally crashes to the ground... or what if I'm shooting something and drop it in a creek?"

That's what I asked... and that's what got the real answer... the answer that made me cancel my policy because I was paying nearly $500/year for $20K worth of equipment... upon which I was rarely risking more then a few thousand of at a time.

If you fly a lot... or shoot in questionable environs with the bulk of your total equipment package... or live in an area where you may very well be robbed, then it's still worth it. I shoot with a friend here in STL that has a detached garage that's LOADED with stuff... I mean LOADED, like you wouldn't believe. He lives in the city... so in his case... it's a no-brainer. All those things ARE his biggest risks.

Call your agent and evaluate your own situation...
 
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