Other: Insurance Policies

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digitalinnovations

Well-known member
Hello all! I am currently shopping for insurance for my gear and I thought I would get some input here of some places to check out. I did a quote through Athos but they want you pay for the full year upfront - which isn't necessarily a deal breaker but made me want to shop around for not only better rates but also somewhere I can go monthly. It would also be nice to have a provider where IF I started to rent out my gear I could add coverage just for the days it is out, etc.

I appreciate your input!
 
digitalinnovations said:
Hello all! I am currently shopping for insurance for my gear and I thought I would get some input here of some places to check out. I did a quote through Athos but they want you pay for the full year upfront - which isn't necessarily a deal breaker but made me want to shop around for not only better rates but also somewhere I can go monthly. It would also be nice to have a provider where IF I started to rent out my gear I could add coverage just for the days it is out, etc.

I appreciate your input!
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This is a huge deal and you need to be very careful with this. I contacted my insurance company back in December when I renewed to talk about making sure I was covered for renting my gear out and it actually triggered them looking at my business and informing me that they didn't know that I worked in TV. They(through my agent, I'm presuming) thought that I was a still photographer(I've been with them probably at least 15 years). After that, they told me they could no longer cover me, but I would remain covered until I found a new insurance company. I've been talking to a company out in CA that a friend recommended that specializes in the TV/entertainment industry, but they are much more expensive than the company I've been with and the policy is different. The new company uses scheduled coverage(you list everything you own/want covered). I've had a 'replacement cost' policy that was unscheduled since almost day. They said I can get a replacement cost policy, but it is even more. And when I brought up the rental subject, they kind of recoiled a little. The agent said that I could be covered under the normal policy, but only if the rentals stayed under a certain dollar amount per year. If I needed more, it would cost even more.

I've been through this "prejudice", before. I've never had an insurance company balk at the dollar amount of coverage that I wanted, but when they find out that I work in TV/production instead of being a still photographer, I have had companies say they would not insure me. I've even had an insurance company not want me to have a website(I don't anyway).
 
That’s funny you mention that; I looked at Hartford (sp?) and that was EXACTLY the conversation I had with them. I said, “You even have a videographer category...” but they said it was “more for photographers”...whatever that means.

It may end up that this Athos is one of the only options. Plus, they do have a fairly decent website and I’d like to be able to change / add coverage myself on the fly as needed. The rental thing may or may not happen for me but I’ll keep researching.

Thank you very much for taking the time to reply.
 
Let me know what you guys find out. This stuff has always seemed crazy expensive to the point of not being worth it for me.
 
It's funny you mention The Hartford. That was my original insurance company. They had a pretty good video specific policy back in the late 90's/early 2000's, but dropped it after a lot of bogus claims.
 
Josh Bass said:
Let me know what you guys find out. This stuff has always seemed crazy expensive to the point of not being worth it for me.
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I guess if you only have a few thousand dollars in equipment, it may not be worth it to a lot of people. What they save in premiums every year could possibly cover a theft of only a few $K. But if you have many 10's of $K's/100's of $K in equipment, you're taking your businesses life in your hands. One accident or theft could easily shut you down and ruin you. Even on a small or relatively routine shoot, we can be out with over six figures in equipment. And there's also Liabilty Insurance that you need to carry, too.

I've been the victim of a theft before. Fortunately, they didn't get my camera(and a few other things like my tripod), and I had a LOT less gear back then, but it was still well over $40K and most of it was just lighting and grip.

A lot of people don't realize how much they really have in gear. Especially if it is bought through time. I had no idea I owned that much in (non-camera) equipment at that time, until I started adding it up and getting my claim together for the insurance company. At that point-in-time, if I had not have had insurance, there is no way I could have replaced everything out-of-pocket. And fortunately, I had some really good friends who were able to loan me gear, so that I could keep working until I was able to start getting replacement equipment in.
 
I'm not an expert in insurance coverage and as a result I would never try to deal with an insurer directly myself. Instead I 've always gone through an agent who is used by lots of people in the industry, thoroughly understands our business, and will go to bat for you if there's an issue. That's the only way to make sure you get the right kind of policy. A few times he has had to switch coverage because th company ( Hartford was one of them ) stopped writing policies for our biz. But he did the leg work finding a new company not me,.
Let me suggest Charles Whelan in Seattle. Very helpful, patient guy who will explain any issues and is widely respected in our biz. (888) 278-2575, cwinsurance@comcast.net. I have Equipment insurance, Liability, workers comp , and insurance for rented gear, so if I need to rent stuff all I have to do is call him for a rider. It's often hard to rent additional gear without your own policy.

I've been carrying liability ever since I was shooting a teenager at some kind of "bungie" game at a fair. He bounced right of his lane and hit his head on the metal lens shade of my camera. Started bleeding profusely even though it was nothing serious. But when I saw that blood I saw my house going bye bye. Got liability the next day. If you hire people directly you should also carry workers comp even if you think they are "independent contractors."

Lenny Levy
 
Great input so far in this thread. I appreciate it all.

I kind of agree with what Run&Gun was saying...previously I had just risked taking a hit (mostly referring to accidental damage) because any of the individual items in my production trailer wouldn't ruin my business but now that I have invested in some more expensive glass and have a Venice on it's way I thought it was time to protect those investments.

So it seems there are no other online insurance resources like Athos because no one has mentioned any...that kind of stinks but I may go with them for the time being.
 
And yet, interestingly, I have had an "Inland Marine" TV gear policy through the Hartford for years, and it also has a $50K gear rental rider with it, along with a corporate liability policy that I need to produce like once in every five years.

The one time in 20+ years I had a small claim, Hartford paid it out in a week. Go figure.
 
I think I used to have insurance with Hartford but they stopped carrying people like us . My agent switched me to CNA which I have now. That's my recollection anyway. he said its harder and harder to find companies that will insure video camera people. Don't know if that extends to all video production.
 
Bern Caughey said:
For equipment insurance you might try InsureMyEquipment.com. Haven’t used their services, but was recommended by a AC who rents out their cinema gear.

https://www.insuremyequipment.com
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Interestingly, that's a site run by Heffernan Insurance Brokers, where --I think-- Kat Wong worked before she set up Athos.
https://www.athosinsurance.com

Also, these are the three companies (Heffernan, Athos, Charles Whelan) that lots of people in my circles use. And all of them will get out a Certificate of Insurance and help with brief bumps in coverage... and a phone call could be super helpful on the front end to help understand what's involved in getting insurance if you want to rent out your equipment (beyond getting a COI from anyone you rent equipment). Insurance companies, I'm not a big fan of. A good insurance broker, though, can be a really valuable resource.

Good luck and let us know how things go!
 
I've been shopping for a new insurer lately and have been noticing they're very keen to find out if you own and fly a drone. Seems to be a real deal killer for some companies.
 
I use Verifly drone insurance; you pay by the hour / job. For what I do and the limited amount of flying I do it works well.
 
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Athos is who I ended up going with. Heaven forbid I ever have to make a claim but I hope they’re a good company that doesn’t make it a nightmare.
 
digitalinnovations said:
I use Verifly drone insurance; you pay by the hour / job. For what I do and the limited amount of flying I do it works well.
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I've been wondering about them & considering trying it out. It's hard researching these newer companies to see how they do if you ever have a claim. Always seems to be lots of fine print. Have you been using Verifly long? And if so, have you had any claim that they've taken care of?
 
markfpv said:
It's hard researching these newer companies to see how they do if you ever have a claim.
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That is exactly my sentiment in my last post regarding Athos; while the internet is great in helping make connections you wouldn’t have otherwise it is also worrisome if you put your trust / money into a sketchy business.

markfpv said:
Have you been using Verifly long? And if so, have you had any claim that they've taken care of?
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I have used Verifly essentially from the moment they had coverage in my state. I have NOT had a claim with them though - which is a blessing for me but not so helpful for you I know.
 
I'm curious - why would you put your faith in a company you know nothing about rather than going through an agent who knows all these companies upside down and backwards? Is it that much cheaper, and isn't peace of mind worth a little extra ? I have no interest in anyone's business BTW.
 
I totally get what you’re saying but my local agent doesn’t offer the coverage I need so anyone I use at this point I would “know nothing about” - you know what I mean? Plus, it seemed like a lot of those in our industry and that are active on forums recommend Athos. But as with any agent / company the real proof comes down to what happens when you have a claim.
 
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