Insurance...

Discussion in 'Digital Photography' started by TekSupport, May 12, 2009.

  1. TekSupport macrumors newbie

    Joined:
    Jul 9, 2008
    #1
    Been thinking of getting insurance for my gear...not alot of options out there. Saw a post somewhere (can't remember) for www.tcpinsurance.com Seems like they have what I'm lookin for. Anybody here use them?

    Thanks!

    TS
     
  2. Maxxamillian macrumors 6502

    Joined:
    Nov 16, 2004
    Location:
    Utah
    #2
    I simply added a rider with my insurer (home and auto). I wanted to make sure that if something happened that I would not have to claim against my homeowner's insurance (where the equipment was already covered). This is my "oops" insurance that would cover repairs and my "uh-oh" insurance should it get stolen.

    I am being kind...."oops" and "uh-oh" are NOT the first words that will be leaving my lips should any of the above happen...

    If you are already insured you might want to try this route...this way you are dealing with a known and reputable (?) business.

    Hope this helps.
     
  3. compuwar macrumors 601

    compuwar

    Joined:
    Oct 5, 2006
    Location:
    Northern/Central VA
    #3
    I have a personal professional property policy with Travellers that I've been very happy with. Includes liability and gear, and it's unscheduled too (you don't have to send them a list of stuff and serial numbers!)

    I'd strongly advise against this route. If you make a claim for stolen equipment and then your policy gets canceled, it'll be much more difficult and expensive to get a replacement policy and could affect your mortgage.
     
  4. iGary Guest

    iGary

    Joined:
    May 26, 2004
    Location:
    Randy's House
    #4
    I have a separate "valuable personal property" policy with USAA for all of my gear that is not attached to my renter's policy, which works out great.
     
  5. Kronie macrumors 6502a

    Kronie

    Joined:
    Dec 4, 2008
    #5
    What you want is called "Inland Marine Insurance" It covers things that are movable. Laptops, cameras, diamond rings. My cost is $87 a year for $5,300 worth of coverage. It covers everything, theft, accidental damage, stupidity.

    Its not SUPPOSED to be commercial. Just for private use.
     
  6. Maxxamillian macrumors 6502

    Joined:
    Nov 16, 2004
    Location:
    Utah
    #6
    Mine also is a professional / business policy....equipment + liability. Are you saying that a claim under this policy would affect my homeowners policy or auto policy?
     
  7. compuwar macrumors 601

    compuwar

    Joined:
    Oct 5, 2006
    Location:
    Northern/Central VA
    #7
    If it's a rider on a homeowner's policy, then the underlying policy is your homeowner's policy as I understand it. I've always been warned that making claims against a homeowner's policy is potentially a very bad idea.
     
  8. TekSupport thread starter macrumors newbie

    Joined:
    Jul 9, 2008
    #8
    Not bad! I received a quote from TCP...$5K for my gear...$15K for my home Mac..(included)...Business Personal Prop...$5K...Comprehensive Liablitiy of $2mil. per occurrence...$4Mil aggregate...all of this for $510 per year...in easily monthly installments...good?

    Thanks for ALL your responses..

    TK
     
  9. Maxxamillian macrumors 6502

    Joined:
    Nov 16, 2004
    Location:
    Utah
    #9
    Yeah, that is what I was trying to avoid in the first place. Your post prompted a phone call to my agent to make sure. "Rider" was definitely the wrong word to use. It is a standalone policy what will have no impact on auto / home. I thought I'd covered my bases when I set this puppy up...its nice to be sure. I'm glad I saw this post. Wrong choice of words though...

    Thanks for taking the time to reply :)
     
  10. r i c h macrumors member

    Joined:
    Jul 22, 2008
    Location:
    California
    #10
    I have a "personal articles policy" through State Farm and for approx $5000 worth of coverage the yearly premium is $58. The policy is a stand alone and is not attached to my auto or renter insurance and covers theft, damage, international travel coverage is included, etc with no deductible.
     
  11. QuantumLo0p macrumors 6502a

    QuantumLo0p

    Joined:
    Apr 28, 2006
    Location:
    U.S.A.
    #11
    A while ago I had a serious amount of camera gear stolen from my car at a parking ramp. My homeowners policy covered everything minus a deductible. Whew! At the time my policy did not require a rider for additional coverage but I think my current policy may require a rider. Currently I have not purchased extra coverage because I have much less gear than I used to.

    On a side note I did opt for extra coverage for jewelry and firearms. So when an intruder attempts to steal my wife's bling I can choose from a plethora of fine, capable weapons to remedy the situation.

    Then I will take pictures of the perpetrator using a variety of lighting, lenses and styles to capture the moment in an creative, artistic way.
    :D
     
  12. ChrisA macrumors G4

    Joined:
    Jan 5, 2006
    Location:
    Redondo Beach, California
    #12
    I've made several claims on my Alstate policy. They don't cancel. Stolen Nikon SLR gear, notebook computer, stolen car full of skiing gear, and a broken living room window and overspray paint blown onto a parked car. Every few years something seems to happen
     
  13. compuwar macrumors 601

    compuwar

    Joined:
    Oct 5, 2006
    Location:
    Northern/Central VA
    #13
    Sooner or later, you may pass a threshold. I've heard of at least six cases where a stolen SLR caused someone to lose their policy over the last eight or so years, and it's not a great market for insurance companies these days- I'd not take the risk.

    I've known people who smoked for 25 years and didn't get cancer too- that doesn't make smoking worth the risk to me. If you don't have the actuarial tables and numbers, how do you even know where you are in terms of a cancellation threshold?
     
  14. Maxxamillian macrumors 6502

    Joined:
    Nov 16, 2004
    Location:
    Utah
    #14
    Please post for C&C ;) This post just rocks on so many (artistic) levels :D
     
  15. Maxxamillian macrumors 6502

    Joined:
    Nov 16, 2004
    Location:
    Utah
    #15
    My policies are through Allstate. If I remember correctly there can be three claims against a homeowners policy in a rolling two year period. More than this would prompt a review for a possible drop. The professional coverage is significant and amounts to slightly less than $500 / yr. It also allows for claims completely separate from home / auto.
     
  16. compuwar macrumors 601

    compuwar

    Joined:
    Oct 5, 2006
    Location:
    Northern/Central VA
    #16
    That's how I'd do it- but obviously everyone's risk tolerances are different. To me riders and built-in to the policy protections are way too much risk, since once you have to check that "I've been canceled" checkbox on an application you're pretty-much screwed and most mortgages require you keep constant insurance. Compared to the value of the equipment, insurance is just too cheap to cheap out on IMO.
     
  17. compuwar macrumors 601

    compuwar

    Joined:
    Oct 5, 2006
    Location:
    Northern/Central VA
    #17
    You'll just piss off the official photographer paid to cover the event with his Digital Rebel! ;)
     

Share This Page