GEAR insurance

atlfilmguy

atlfilmguy

Well-known member
Who do you guys use to insure your gear? What is a policy costing per year to insure about 10k worth of camera stuff against breakage, theft, etc?

THX
 
Insuring your gear is as much about how you use it as how much it costs. If you are trekking across the rainforest of Brazil, climbing the rocks at the Grand Canyon or just doing studio shoots... all of that factors in to how much your insurance will cost you. Plus, if you don't disclose to your insurer how you intend to use your gear and than destroy it repelling, snorkeling or when you strap it to the outside of a moving vehicle... than you are in trouble getting money out of them. You might get some... maybe none.

In any event, I use C&S out of New York. Great folks to work with.
Jim
 
I have a renter's policy that covers the stuff even when I'm on the road.
Seems like a good deal. When I got a bunch of new toys, I sent the company
their serial numbers and sales receipts so they are specifically covered for
actual cash value (costs a little more). Obviously you can keep paying more
for better coverage, but the renter's insurance plus a good road case
are pretty inexpensive and effective.
 
Fractured Atlas sounds great, but how about international coverage? I'm in Taiwan and insurance seems to be an almost laughed-at concept here. Seriously, I'm investing a lot of green in my dream to produce overseas where the senses are continuously stimulated (buying a bunch of hardware/software everytime I get paid), and my camera upgrade to an HD Panny is less than a year off. Who'll touch (insure!) me?
 
I use USAA to ensure all my stuff. I've ensured my HVX200, my Cartoni Focus Tripod, my boom mike, and my Canon Rebel XT. All of the equipment came to something like $8,000 but costs me about $150 a year to ensure. It's definatly worth it since it covers stupid stuff like me dropping the camera.
 
I was just looking into insurance myself and here is what i found:

Wedj Insurance Details
1) $175/year Liabilty Coverage
1 system of liability that covers 1-50 jobs/yr
1,000,000 coverage per event
covers any damage I cause to people/property
$250 deductible for property
injured or sued no deductible
pay all up front / no monthly payments

2) $150/year Equipment Coverage
covers theft & damage
15,000 worth of equipment
not covered
if doors are unlocked in vehicle
if it is flood damage
if we break ourselves

The catch is you have to have a wedj account first which starts at something like 75/yr i think.
 
Interesting about USAA-- we use them for home and autos. But I was informed that video gear for professional use can no longer be covered under homeowners, personal articles floater or computer rider. I had to purchase inland marine insurance and used a broker through USAA. I know that I am paying too much-- $400/year for $10K coverage and it does not include international. I'm definitely looking for another carrier.

Ned Soltz
 
It is my understanding that you have to get the inland marine insurance if you are a pro, if you do jobs for money. But you can use homeowners if you are an enthusiast, or amatuer.
 
atlfilmguy said:
It is my understanding that you have to get the inland marine insurance if you are a pro, if you do jobs for money. But you can use homeowners if you are an enthusiast, or amatuer.
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It depends on your insurance company. The insurance that I have is listed under my homeowners policy as a homebased business, with the specification as a video production / photography business. What I really like about my policy is that it covers me and my gear world wide. (My policy is through Encompas Insurance.)

A quick and easy insurance company to cover your gear, liability, and for when you rent gear from rental houses is through www.wedj.com . You sign up for the listing service, and then you get access to additional benifits like discounted insurance rates. They refer their members to an insurance company that specializes in insuring DJ's, Photographers, Videographers and the like. I believe that you can get $20,000 of equipment insurance for $200 / year, and a $2MM liability insurance policy for about $300 per year.
 
atlfilmguy said:
thanks for the input all. I am also trying out Hill and Usher, what do you think?

http://www.hillusher.com/
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I've been using them for five years or so. Their policy is more comprehensive than just gear coverage. Depending on your professional genre, it is a good thing. They are expensive though, my insurance is roughly $775.00 per year, and that's just insuring my 100,100A,HVX, tripods , audio, accessories for the cams,computers and about $12,000.00 in still photo gear. Originally I had everything I owned on the item schedule, but have since removed grip gear and a lot of lighting stuff in order to reduce my premium. This hasn't had too much of an effect on the price :-(.

I have not had the best customer service experience with them either. On two occasions I sent in a revised item schedule to them, only to find out many months later that the items were never removed from the schedule- and I was still paying a premium price based on the old figures.

I've never filed a claim with them, so I can't comment on that experience. Also, they require that you install an alarm in your vehicle as a condition of your policy.

I'm not in a huge rush to do so, but I'm starting to keep an eye out for a better way to go on insurance. The artist insurance mentioned previously is interesting. I'm going to check it out.
 
If you need more insurance then just gear insurance, then I'd suggest looking into Encompas Insurance. (I can't find their general number right now, but their claim number is: 800-588-7400 if you call that they should be able to give you the general number for questions.

Currently I have the HomeWork Supplement added to my homeowners policy, which costs me an additional $175 / year. I had my state fram agent look it over, and he was very impressed by the coverage, as it not only covers me while I'm here in the states, but it covers me while I travel abroad. (Although when I travel internationally, it only covers $15,000 in gear. Which works for me, because i do not travel with more then $15,000 of gear.)

The insurance covers all of my gear on the premisis (I believe that it is up to $150,000).
Covers Business liability & Medical expenses.
Business property while away from the premisis - even internationally (Up to $15,000)
Business data (Up to $10,000)
Accounts Receivable (Up to $10,000)
Checks, credit cards, debit cars (Up to $10,000)
Cash (Up to $5,000)
Debris removal (Up to $25,000)

I've been very happy with the company (Although I've had no claims.). The only reason I go the additional insurance through wedj.com is that i needed the ability to get quick insurance binders that listed the rental houses as additional insurred. I do a fair amonut of renting of equipment, and with the wedj.com insurance, I can just email them, and then later that day I get an insurance binder that has the rental house listed as additional insured. So while that insurance doesn't cover much, it does cover the gear that I rent, and they have very good / quick service.
 
I use USAA, and the Hartford is a underwriter for them. I have both macs G5, G-4, FCP6.0 Studio2 software, 2 DVD duplication system, 4 cameras HVX-200,DVX 100B, DRS170, 150, and rent insurance up to 10k Cameras.
all for $1200 for the year. It covers Water damage, Thugs break in and steal stuff, If I rent out some of my gear and a Hucklebuck breaks something, syko employees feel under paid and kills my stuff. It's call covered.
 
My understanding is that your homeowners will cover personal property loss up to limits when something, even professional stuff, is taken at your house

What you are buying for gear insurance is coverage while on a job.
 
USAA was very clear that video equipment used for pro purposes required an inland marine policy. They would continue to cover computers and other related equipment even if you commercially under the homeowners.

Ned Soltz
 
I think I'm paying too much. I have $45,000 worth of equipment insured, $25,000 of which travels. Plus, $1,000,000 liability insurance for injuries and property damage. They said they also cover loss of income for the duration it takes to replace the equipment. It cost about $60/month through State Farm.
 
nsoltz said:
Interesting about USAA-- we use them for home and autos. But I was informed that video gear for professional use can no longer be covered under homeowners, personal articles floater or computer rider. I had to purchase inland marine insurance and used a broker through USAA. I know that I am paying too much-- $400/year for $10K coverage and it does not include international. I'm definitely looking for another carrier.

Ned Soltz
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I got a somewhat better deal. My broker got me inland marine for $10K
PLUS renter's insurance for about $410/year.

Les
 
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