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Thread: Insure your prized equipments?

  1. #21
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    Default Re: Insure your prized equipments?

    What happends if your equipment does not have receipt?
    How can you claim or how do they go about evaluating the value?
    The best photographer is one who is inspired by the innate nature of his subjects.

  2. #22

    Default Re: Insure your prized equipments?

    I'm using a Home Assurance plan or somesort..

    100+ premium a year.. with up to 6k protection..
    literally covers loss of anything as long as you make a police report..

  3. #23

    Default Re: Insure your prized equipments?

    i'm more interested in any claim done...

    info such as.
    1) what is the premium you paid?
    2) what is the cost of equipment that you paid?
    3) how much did you get back from insurance co?
    4) how long did the $$$ take to arrive?

  4. #24
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    Default Re: Insure your prized equipments?

    Quote Originally Posted by iceberg View Post
    I'm using a Home Assurance plan or somesort..

    100+ premium a year.. with up to 6k protection..
    literally covers loss of anything as long as you make a police report..
    wat does your agreement cover? accidental damage, loss, theft, robbery?
    G

  5. #25
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    Default Re: Insure your prized equipments?

    Quote Originally Posted by WuffRuff View Post
    What happends if your equipment does not have receipt?
    How can you claim or how do they go about evaluating the value?
    probably u have to declare the value upfront and they assess the risk based on the value ("cover") u want
    G

  6. #26

    Default Re: Insure your prized equipments?

    Hi guys,
    I am running an Insurance Agency but in Malaysia. However, Insurance rules and Policies conditions are basically the same throughout the world. Those "home insurance" policies would cover any losses confined to house burglary. Loss of any item in the house would normally be limited to $1,000/- or not more than 5% of the Total Sum Insured. Therefore if you want to insure your lens or camera that cost more than $1,000/- you will have to delcare it separately stating the exact value. The risk assumed would only be confined to the house. If your intention is to insure your cam & lens during outing, you have to declare your intention to your Insurance Company and they would most probably charge you at another rate and a policy known as "All Risks" could be issued. It will cover loss due to burglary & other factors and accidental damage. Note that most Insurers are reluctant to issue this kind of cover, given the present economic climate. In all cases, it will be good to discuss this matter with the Insurance company and make yourself clear in your intentions. Your valuable cameras and lenses are at stake! Have a good day.

  7. #27
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    Default Re: Insure your prized equipments?

    Quote Originally Posted by Andy AWFoo View Post
    Hi guys,
    I am running an Insurance Agency but in Malaysia. However, Insurance rules and Policies conditions are basically the same throughout the world. Those "home insurance" policies would cover any losses confined to house burglary. Loss of any item in the house would normally be limited to $1,000/- or not more than 5% of the Total Sum Insured. Therefore if you want to insure your lens or camera that cost more than $1,000/- you will have to delcare it separately stating the exact value. The risk assumed would only be confined to the house. If your intention is to insure your cam & lens during outing, you have to declare your intention to your Insurance Company and they would most probably charge you at another rate and a policy known as "All Risks" could be issued. It will cover loss due to burglary & other factors and accidental damage. Note that most Insurers are reluctant to issue this kind of cover, given the present economic climate. In all cases, it will be good to discuss this matter with the Insurance company and make yourself clear in your intentions. Your valuable cameras and lenses are at stake! Have a good day.
    for the information provided. u dun want to be caught with your pants down when you need the cover most
    G

  8. #28
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    Default Re: Insure your prized equipments?

    Quote Originally Posted by eejal View Post
    Hi!

    do you guys actually insure your precious pieces of metal and plastics from accidental mishaps? like say you have a job which requires you to go to construction sites. you need to lug around your camera. so the chances of anything doing damage to you equipment is there. anyone can recommend me a place where i can insure my equipment for a day or during my period of job?

    advices much appreciated!
    You will find it almost impossible to get short term insurance for equipment, unless you use an insurance broker and have them set up a specific policy for short term coverage which may well cost you more than a year's worth of insurance via more conventional means.

    As a professional photographer my insurer charges a flat rate of 4.0% of the value of the equipment per year for global coverage against theft, loss, or damage on all of my equipment under 10 years of age. For my older gear I pay 5% per annum. Wear and tear, cosmetic damage etc is not coved.

    Regards
    Ian

  9. #29
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    Default Re: Insure your prized equipments?

    Quote Originally Posted by Ian View Post
    You will find it almost impossible to get short term insurance for equipment, unless you use an insurance broker and have them set up a specific policy for short term coverage which may well cost you more than a year's worth of insurance via more conventional means.

    As a professional photographer my insurer charges a flat rate of 4.0% of the value of the equipment per year for global coverage against theft, loss, or damage on all of my equipment under 10 years of age. For my older gear I pay 5% per annum. Wear and tear, cosmetic damage etc is not coved.

    Regards
    Ian
    That is not a bad deal. Do you get to decide how much coverage you want? Since equipment does depreciate in value (usually), i wonder if it is possible to reduce coverage year on year or at least decide how much coverage is needed...

    Do you have more info on this insurance?
    G

  10. #30
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    Default Re: Insure your prized equipments?

    Care to share which insurer? Or is this a custom packaging from your agent?
    Pentax K-x

  11. #31

    Default Re: Insure your prized equipments?

    Quote Originally Posted by ManWearPants View Post
    Allianz has a mobilesafe plan for electronic equipments.

    http://www.allianz.com.sg/mobileSafe.htm
    i find this insurance not bad ..in terms of pricing and coverage.
    anyone bought this and *touch wood* claimed from this insurance before

  12. #32

    Default Re: Insure your prized equipments?

    Quote Originally Posted by animian2002 View Post
    i find this insurance not bad ..in terms of pricing and coverage.
    anyone bought this and *touch wood* claimed from this insurance before
    The updated URL is here

  13. #33
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    Default Re: Insure your prized equipments?

    Quote Originally Posted by godzilla60 View Post
    That is not a bad deal. Do you get to decide how much coverage you want? Since equipment does depreciate in value (usually), i wonder if it is possible to reduce coverage year on year or at least decide how much coverage is needed...

    Do you have more info on this insurance?
    Sorry for the delay in replying, real life has prevented me getting back here for a while.

    Mine is a custom package my insurance broker. It's a fixed value policy based on the purchase price of my equipment and it's based on the actual purchase price of the gear not the RRP. I've had the policy for nearly 30 years now and it's never let me down. My current premium is probably higher than most people's salaries hehe.

  14. #34

    Default Re: Insure your prized equipments?

    Advertising Photographers of America


    i paid US$200 something yearly premium

    US$11,000 equipment insurance
    US$25,000 Rental insurance

  15. #35
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    Default Re: Insure your prized equipments?

    Quote Originally Posted by auron View Post
    i'm more interested in any claim done...

    info such as.
    1) what is the premium you paid?
    2) what is the cost of equipment that you paid?
    3) how much did you get back from insurance co?
    4) how long did the $$$ take to arrive?
    I've had 4 major claims in the past 30 years.

    1) Premium - 4% of new price (non reducing) on gear less than 10 yrs old, 5% on older equipment. That's for global (worldwide) coverage against all forms of theft and damage including stupidity on my part.

    2) I won't say as this is an open forum. But a hint, the premium costs me more than most singaporeans earn in a year.

    3) 100% coverage + cost of rental gear and transportation to anywhere in the world until the equipment has been replaced.

    4) Less than 96 hours in all cases.

    Largest claim was 46,000 USD when I had a car broken in to in 1986 and 2 camera bags plus a couple of super-teles were stolen.

  16. #36
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    Default Re: Insure your prized equipments?

    Quote Originally Posted by krishna91 View Post
    Advertising Photographers of America


    i paid US$200 something yearly premium

    US$11,000 equipment insurance
    US$25,000 Rental insurance
    ASMP is about the same too.

  17. #37
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    Default Re: Insure your prized equipments?

    Along the same topic, does anyone know of anyone insurance co/plans for insuring your camera equipment while travelling?

    Most travel insurance covers each item for $500 or so and they could camera + all lens as 1 item! Means if you lose your body + all lenses... can only claim $500, which is just a fraction of the cost! So I'm looking for a plan that can give me reasonable coverage of possessions. I'm mainly worried about loss of my laptop and camera gear while travelling.
    The best photographer is one who is inspired by the innate nature of his subjects.

  18. #38
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    Default Re: Insure your prized equipments?

    anyone knows of a good insurance provider in sg?
    G

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  20. #40

    Default Re: Insure your prized equipments?

    the problem is, a lot of my gear is 2nd hand/grey... anyone tried this with allianz?

    another issue is items must be less than 3 mths old - i wonder got any leeway in this regard. at least i can insure some items for peace of mind too.

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