Photography equipment Insurance?

[Alan Edward Klein]

Yes, Alan, insurance companies still drop people for too many claims. They also drop people when fate works contrary to their profitability. I’ve never heard of that kind of blackballing, though. Having a history of “too many claims” may follow a customer but if that’s a formal or informal process it just seems wrong.

My situation was forty years ago. It wasn't just that my insurance company dropped me. The entire industry had my name and I couldn't get insurance from anyone. I don't know what the current situation is. Maybe blackballing is illegal now.

 

[Pieter12]

I once lost some lighting equipment that I had packed in the trunk of my car for an early morning shoot. It rained so hard that night, we had a rare flash flood that picked up my small car and moved it to the other side of the street. Needless to say, the trunk filled with water and the lights were history. I had insurance, but they refused to pay since they said flood damage was not covered.

Today, if you have film cameras it can be difficult to replace even if they are insured. Some carriers might consider them antiques and require a separate rider and assessment. And you will probably pay through the nose.

 

[Sirius Glass]

My situation was forty years ago. It wasn't just that my insurance company dropped me. The entire industry had my name and I couldn't get insurance from anyone. I don't know what the current situation is. Maybe blackballing is illegal now.

Insurance companies share their data.

 

[Rob Skeoch]

When talking with the insurance broker you need to ask some particular questions.
Is it insured if taken from my house, or fire?
Is it insured it taken from my car?
Is it insured if on my body, like a mugging or sitting on a table at a small cafe in Paris?
What if I drop it in the river? Do I have to produce the wet/ruined camera and have a repair estimate done?
What if I drop it in the river and it's gone?

If they're providing replacement value, you might have to purchase a bunch of stuff that you might not really want any longer or if you had a blank cheque to purchase what you want now.

 

[MattKing]

Comments about thefts and conditions in general have (mostly) been deleted by the moderation team. If you have anything to add that is specific to insurance and photography and/or photographic equipment, please continue.

 

[guangong]

My situation was forty years ago. It wasn't just that my insurance company dropped me. The entire industry had my name and I couldn't get insurance from anyone. I don't know what the current situation is. Maybe blackballing is illegal now.

Insurance is a betting game. You are betting that your equipment will be stolen. The insurance company is betting that your equipment will not be stolen. Making too many claims would be throwing the odds in your favor.
Same with life insurance. Person is betting they will die; insurance company betting they will live.
I keep much of my equipment in a gun safe. After fire burned my study, very few cameras needed more than a surface cleaning. Insurance paid for a better, larger replacement safe.