I would like to insure my equipment as it has been increasing in value as of late. I was wondering what company do you recommend for insurance on camera equipment ?
Who has the best rates per month?
What is the best policy?
What should be included?
Thank you in advance for all your help.
Where do you live, and are you a working professional?
Los Angeles. Yes I am.
If you're in LA, take a peek at Tom Pickard, http://www.tcpinsurance.com/. I used them for many years. Do not try to insure under your home owners policy.
I know a few folks that are happy with Hartford for the business insurance.
Another option is Taylor & Taylor, http://www.taylorinsurance.com/. If you have an ASMP membership, you can get a better rate and qualify for better coverage.
Thank you
I have the same question. I'm in Miami, FL. Not working professional yet my spent several thousands in equipment already.
Sean's advice is probably good advice. Your homeowner's policy is not the place to start. The first thing they will ask is if you use your gear professionally, which statistically exposes it to more risk of theft or damage. If you lie, you risk being denied coverage, should you have to make a claim. If you tell the truth, that opens up another can of worms - do you have clients coming to your home? That's a concern for your carrier as well. So look for a separate policy, preferably with a commercial carrier, not your typical life/home/auto carrier.
Insurance companies employ actuaries, which are nerds with slide rules that calculate the probability of making a claim, based on all sorts of historical data. They will have determined the cost of taking on the risk of covering your gear, but another company may have a different calculation. And theft and fire claims for my area are going to be different than where you live, so what works for me (a 600lb fireproof safe is my insurance) may not work for you. You could also check at local camera stores, to see if anyone can recommend a company with good rates and coverage in your area. I think Samy's and Freestyle would be the two that I would check at, as they both seem to cater to professionals. And man, I miss the sales Freestyle would put on. Now I'm sad.
Thank you.
You also need to understand coverage. Will it be replacement cost, or will they depreciate it? And find a good balance between deductible and premiums. Don't take a huge deductible to save $3/month.