Check Your Insurance

  • Thread starter Thread starter whiteflyer
  • Start date Start date
W

whiteflyer

Guest
My camera equipment is covered by my home insurance on an old for new policy, I have to name individual items with a value over £1500. Well I have not named any camera stuff as nothing WAS over £1500, but today my EOS magazine came with a supplement give the current Canon RSP, and what a shock.

EF-S 17 - 55 f2.8L IS USM £1139.99
EF 70 - 200 f2.8L IS USM £2239.99
Speedlight 580EX II £539.99


A phone call to my insurance company is now needed
 
mastertrinity said:
i dont know if you can though as when you paid for it it would of been much cheaper so i dont know if they account price fluctuations.
Click to expand...
You should always insure for the replacement cost with a new item, not what was paid for it. Otherwise those old dears with Lalique crystal what they got for 50p on Antiques Roadshow wouldn't be able to insure it properly.

I've got to get in touch with my insurers as my 100-400 (bought for £950) is now worth over £1800 according to Canon. And my 300 f2.8 is now an unbelievable £5300!!!
 
whiteflyer said:
EOS magazine came with a supplement give the current Canon RSP, and what a shock.

EF-S 17 - 55 f2.8L IS USM £1139.99
EF 70 - 200 f2.8L IS USM £2239.99
Speedlight 580EX II £539.99

A phone call to my insurance company is now needed
Click to expand...
Don't get carried away though. Those are only the RSPs - nobody actually sells them for those prices.

Ten seconds playing on Camera Price Buster suggests that realistic replacement prices on the street are:

EF-S 17-55mm f/2.8 IS USM = £800ish
EF 70-200mm f/2.8 L IS USM = £1500ish
Speedlight 580EX II = £375ish


hollis_f said:
I've got to get in touch with my insurers as my 100-400 (bought for £950) is now worth over £1800 according to Canon. And my 300 f2.8 is now an unbelievable £5300!!!
Click to expand...

No, it's not "worth" that much. It's worth what it would cost to replace, which is:

EF 100-400mm f/4.5-5.6 L IS USM = £1300ish
EF 300mm f/2.8 L IS USM = £3700ish
 
Insurance value isnt too important is it? As long as you can prove you had it they will pay out in the way of a voucher for say Jessops and they will issue you a replacement, it isnt often they pay out in cash.

I lost a watch once and was told by my insurance company Goldsmiths will be in touch shortly to sort out a replacement, all I needed was ID when I got to the shop.
 
The only claim I've had before I got Jessops vouchers to the price Jessops were selling at, so Canon EF 70-200mm F2.8 L USM Image Stabiliser £1719.00, which is over my £1500.
 
StewartR said:
No, it's not "worth" that much. It's worth what it would cost to replace, which is:

EF 100-400mm f/4.5-5.6 L IS USM = £1300ish
EF 300mm f/2.8 L IS USM = £3700ish
Click to expand...

Yeah, shame though. My friend with the 500 f4 was astounded when I showed her that the RRP was almost 8 grand. We're still trying to revive her husband:)
 
Hyster said:
I know we can buy for less but don't insurance companies value the item by RSP?
Click to expand...

My insurance policy is to replace my gear. So, it's retail price that matters. They may also have preferred suppliers of replacement kit.
 
You must log in or register to reply here.
Back
Top