Camera Insurance Query

[Dal]

Just looking at getting some cover for my camera gear and to sort some PI out aswell.

This is standard bit for the Excess -

Excess
The excess is the amount you pay towards a claim. It is 7.5% of the insured loss with a minimum of £150 for all sections except Public Liability where it is £250. For theft from vehicles/certain public areas the excess becomes 12.5% of the insured loss with a minimum of £250 for all sections. The excess is double for overseas claims.

So for instance, if I dropped my Nikon 50mm f1.8 lens (worth £90) then I would have to pay 7.5% of the £90 and then £150 to go through the insurance??

If that's right then should I only bother to list all the expensive bits, like the D300, Sigma 70-200 f2.8 etc as these are high value. Ignoring stuff under a value of £300?

Reason I ask is because by doing that I can reduce the overall value of the policy and therefore reduce the premium price each month?

 

[Dal]

Acutally I've just thought if my camera bag got nicked the insurance would cover it all.

Think by writing this I've answered my own question lol.

 

[seashaker]

you got it ! individually it isn't worth claiming for anything under £150 but as you say if the bag got nicked u are covered for everything in it which could be a lot more than £150 in total.

For note who are you looking at? I have glover and Howe. recently had a claim and they were great, no hastle at all to deal with or pay up!

 

[Dal]

you got it ! individually it isn't worth claiming for anything under £150 but as you say if the bag got nicked u are covered for everything in it which could be a lot more than £150 in total.

For note who are you looking at? I have glover and Howe. recently had a claim and they were great, no hastle at all to deal with or pay up!

This is who I'm looking at http://www.eandl.co.uk/leisure-and-lifestyle/camera-insurance For Professional use with £4,000 worth of stuff, all risks including unattended car cover was about £10.50 a month. That sound about right?

1.25million PI aswell.

Will have a look at Glover and Howe

 

[Dal]

you got it ! individually it isn't worth claiming for anything under £150 but as you say if the bag got nicked u are covered for everything in it which could be a lot more than £150 in total.

For note who are you looking at? I have glover and Howe. recently had a claim and they were great, no hastle at all to deal with or pay up!

Just doing a quotation on Glover and Howe and I'm a bit confused by this.

What level of Public Liability limit do you require*: £2m (min)£3m£4m£5m

Professional Indemnity limit of cover required: £25k£50Kmore than £50k

I thought Public liability and Professional Indemnity were the same thing :|

 

[seashaker]

I am not sure about the public liability or professinal Indemnity, perhaps give them a call but I would have a quick goole on E&L and a search on here, there have been many people in the past who have said how shocking they are if you need to make a claim. It may be worth paying a little more and getting a better service if you need to make a claim.

 

[Lynton]

public liability = someone trips over your bag (etc) and falls down the stairs and sues you.

prof indem = you charge £1000 to do a wedding. You screw it up. B&G not happy, so prof indemnity covers loss etc / pays for reshoot etc.

 

[Lynton]

...

 

[mattyh]

This is who I'm looking at http://www.eandl.co.uk/leisure-and-lifestyle/camera-insurance For Professional use with £4,000 worth of stuff, all risks including unattended car cover was about £10.50 a month. That sound about right?

1.25million PI aswell.

Will have a look at Glover and Howe

DON'T GO WITH E&L!

They have silly terms and conditions and don't pay out that often... Have a search of the forum for a few horror stories

 

[Dal]

I am not sure about the public liability or professinal Indemnity, perhaps give them a call but I would have a quick goole on E&L and a search on here, there have been many people in the past who have said how shocking they are if you need to make a claim. It may be worth paying a little more and getting a better service if you need to make a claim.

Thanks, I shall do a search for claiming from E&L then.

public liability = someone trips over your bag (etc) and falls down the stairs and sues you.

prof indem = you charge £1000 to do a wedding. You screw it up. B&G not happy, so prof indemnity covers loss etc / pays for reshoot etc.

Ah right so when I do my rig shots on a car. If the rig failed and damaged the paint then I would need the Prof indemnity cover. Think most are usually about 1million aren't they?

 

[Dal]

DON'T GO WITH E&L!

They have silly terms and conditions and don't pay out that often... Have a search of the forum for a few horror stories

Just searched on here and google and I see what you mean. Will avoid them.

So options are:

Photoguard
Glover & Howe
Towergate Camerasure
Aaduki

 

[Lynton]

Ah right so when I do my rig shots on a car. If the rig failed and damaged the paint then I would need the Prof indemnity cover. Think most are usually about 1million aren't they?

I would think that something along those lines would come under Public Liability. I.e. you or your equipment has caused damage to another or to property etc.

Prof Indemnity would be, I dunno, say Posh Car Magazine hired a veyron for the day and got you as an independent freelance photographer to do the shoot etc for them....... which you did.

However, memory card failed, got lost etc or all the photos were blurred, you chopped half the car off in every image.... i.e. no images or bad images thats where the prof indemnity cover would come in to reimburse Posh Car Mag for hiring etc and getting nothing back............


Not a pro myself so don't have any specialised insurance - however aaduki and Photoguard are often mentioned on here and praised. Towergate has a very good reputation in general insurance market amongst commercial lines and are pretty big.

 

[gramps]

Aaduki are very positive and friendly to deal with.

 

[sparklies]

I second Aaduki. I recently needed to add my new 24-70 to my policy and I emailed them at the weekend when they were closed, and when I finally paid them on Tuesday they told me they'd put me down as covered from Saturday anyway as that was when I first contacted them. Thumbs up from me!

 

[Goody13]

So for instance, if I dropped my Nikon 50mm f1.8 lens (worth £90) then I would have to pay 7.5% of the £90 and then £150 to go through the insurance??

No. Not quite. What they mean is that you must pay the first 7.5% of any claim, subject to you paying a minimum of £150. Therefore, any claim up to £2,000 will have an excess of £150. After that it will be 7.5% of your claim.

If that's right then should I only bother to list all the expensive bits, like the D300, Sigma 70-200 f2.8 etc as these are high value. Ignoring stuff under a value of £300?

Reason I ask is because by doing that I can reduce the overall value of the policy and therefore reduce the premium price each month?

The policy will probably have a requirement that you should insure for the full value of your equipment, otherwise they will reduce any claim by the amount you have underinsured by AND deduct the excess. I see it working this way for example:

You insure for £2,000 in total. You have equipment totalling £4,000 with you. You lose a couple of lenses totalling £1,000, but you would only receive £350 in settlement. i.e. you have only insured for 50% of the total value at risk, therefore the insurers will only pay 50% of any claim less the excess.

Hope this helps to explain how these things work. Insurers may deal with such instances of underinsurance in a slightly different way, but the end result would be similar; you would be out of pocket.