Photography insurance renewal cost has dropped - is this right???

rob-nikon

rob-nikon

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Rob
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I’ve just had my photography equipment insurance cost email from Eversure:

IMG_0689.jpeg
Now whilst it’s sounds great its dropped from £243 to £89, to me it just doesn’t sound right that a) it’s dropped when insurances seem to be increasing and b) has dropped by so much!

I updated my photography insurance this week as I’ve changed from Canon to Nikon kit so I needed to update the high value items to remove the now sold canon kit and replace it with the Nikon kit. I’ve checked the amount covered and it’s right (actually slightly higher than I previously had covered).

Has anyone else had a recent renewal from eversure that’s decreased?
 
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Mine was about the same on renewal until I increased the cover slightly, which increased the cost (as you'd expect)
 
My one with them was same this year as it was last year, so agree call them and ask.
 
@rob-nikon

Such a difference infers that the policy and the cover terms have changed?

Have compared the actual cover details between the current policy and the renewal invitation policy?
 
I can’t see anything obvious in the documents. Im going to give them a call. All that should have changed was removing the canon R6 & 100-500 and replace them with the Z8 and 400 f4.5 as high value named items. Cost covered increased from £14.3k to £15k due to changing from canon to Nikon.
 
After checking my insurance certificate from 2022 against the 2024 renewal they have dropped the cover for equipment away from home, theft from a vehicle and accidental loss to just £1k instead of the original £13.5k.

That’s a huge difference in insured value. It should not have changed as all I was doing was changing the specified named high value items and increasing overall cover to £15k.

I will definitely be phoning them tomorrow to make sure it’s changed back with sufficient away from home cover.
 
Update: I spoke to Eversure. There had been a typo mistake in the away from home cover down to £1,000 which had reduced by insurance cover hence the lower renewal. I had to pay £7.41 to get the cover back up to £14K away from home. Ive just had my renewal through and its actually £8 lower than last year. Ive checked previous years and the cost has reduced by £10-20 each year. The good thing is all cover now looks like its correct.
 
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