insuring your camera to rent it out

mjdorris

mjdorris

Well-known member
hey all,

i was wondering if any of you have your camera insured with coverage that would protect you if you rented it out? if so, what company are you using and what are you paying?

thanks,
Matt
 
the customer has to cover the rental equipment. any good production would have a insurance in the name of the rental house incase of damage or theft. small items can be rented with a credit card. totaly up to the rental house. if not send them up to a insurance broker and have them buy a 2 week policy with you only as payee. small productions might opt to hire me to be there instead of insurance. chances are ,that customer won,t know how to run the gear anyway.
 
also the minute you just rent out your equipment. your own home insurance policy is void . must carry the biz insurance..alot more $$$$. don,t need this if the hire you with the equipment.
 
Ask the person renting to provide you with a rider (notarized if possible) from his/her homeowners policy listing you as additionally insured for loss, damage and/or liability - the renter may need to modify the policy to do that (some/many insurance companies won't cover professional equipment).

In the "old days" insurance was automatically covered by the rental company as part of the fee, but unfortunately now there are too many unscrupulous people renting equipment and disappearing, so the carriers are reluctant to cover anything like cameras.

I would check with your own insurance agent, though, because this stuff changes often, and they can provide the best advice.
 
You could just get set up to accept credit card payments and do a hold on the replacement cost of the camera until it comes back. If you have a business bank account, your bank should be able to help you with that.

.
 
jetaddiction@mac.com said:
the customer has to cover the rental equipment. any good production would have a insurance in the name of the rental house incase of damage or theft. small items can be rented with a credit card. totaly up to the rental house. if not send them up to a insurance broker and have them buy a 2 week policy with you only as payee. small productions might opt to hire me to be there instead of insurance. chances are ,that customer won,t know how to run the gear anyway.
Click to expand...

Probably the best option for small production, they hire you too and you become first AC. If not, forget it.
 
My insurance only covers my gear when it goes out with me. When I rent it out, I require the renter to provide a certificate of insurance that lists me as loss payee, coverage amount, and deductible amount. I then take a credit card authorization that covers the deductible. If they don't have insurance I take either cash or credit card authorization to cover the replacement value. Believe it or not I had a guy give me 10 g to hold on to. If they're clueless on insurance it may be a sign to walk away or steer them to a broker. In NYC I steer them to Film Emporium since they do alot of short term production insurance.

I've been working in NYC for 20 years and every rental house has always required insurance or deposit.

I'm with Arts and Entertainment Insurance out of Boston. They got me covered to 30g for 550.00/year only if I'm with the gear or it's in my house.

Tim
 
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