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Protect Yourself: What Photographers Should Know About Insurance Insurance


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#1 photojazz

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Posted 28 May 2014 - 03:49 PM

[color=rgb(51,51,51);font-family:'Helvetica Neue', Helvetica, sans-serif;font-size:14px;]Insurance can be a complicated beast, but knowing how to cover yourself and your equipment is a must-do for your business. In this guide, we review the types of insurance you should consider as a working photographer, plus offer up tips from insurance experts and additional resources to help you make the smartest decisions for your business.[/color]

[color=rgb(51,51,51);font-family:'Helvetica Neue', Helvetica, sans-serif;]Free Guide Here Can Be Gotten Here[/color]...what-photographers-should-know-about-insurance


PhotoJazz - Just Capturing Life
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I photo-shoot with film, digital and medium format cameras, which includes the following:
Nikon D605, D200, F4E, F5, FE2 (Black & Silver), EM
Mamiya C330 Professional, M645 1000s, RB67
Bronica ETRSI

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And I have some lenses.

 

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#2 james23p

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Posted 28 May 2014 - 03:53 PM

Very good info Jazz!

 

Jim


God bless all those in harms way and Go Navy!



Nikon P900 Nikon P330

F100 w MB-15, N80, FM3a, FE2(Black and Silver) and EM.

Nikkor 24-85G ED AF-S VR, 70-300G ED AF-S VR, 28-105 3.5-4.5 AF-D, 50 1.8 AF-D

Nikon Series E lens, 28mm, 100mm, 135mm, 75-150mm, 70-210 f4.

MF Nikkor's 50 f2 Ai, 500 f4 ED Ai-P.

 

MF Rokinon 14mm f2.8 ED AE UMC(Ai-P)

MF Rokinon 85mm f1.4 ASP AE UMC(Ai-P)

 



Pro Manfrotto 055XV with Markins M10 ,Sirui P-326 6-Section Carbon Fiber Monopod with Markins Q3 Emille, Manfrotto Compact MKC3-H01M with Combo Head, 3Pod PTT1H Table Top Tripod with Giottos MH1304 Ballhead.


#3 photojazz

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Posted 28 May 2014 - 04:07 PM

Thanks Jim. I read the comments from Dennis and others from Herman's HD post and an email with this info jumped in my mailbox ;) .


PhotoJazz - Just Capturing Life
PlanetNikon Member 141

 

I photo-shoot with film, digital and medium format cameras, which includes the following:
Nikon D605, D200, F4E, F5, FE2 (Black & Silver), EM
Mamiya C330 Professional, M645 1000s, RB67
Bronica ETRSI

iPhone 8+
And I have some lenses.

 

Additional: Video editing with Adobe Premiere, Final Cut Pro X 10.4 and LumaFusion

C&C Is Always Welcome!!
 


#4 james23p

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    Right Jazz! :D

Posted 28 May 2014 - 06:03 PM

B)


God bless all those in harms way and Go Navy!



Nikon P900 Nikon P330

F100 w MB-15, N80, FM3a, FE2(Black and Silver) and EM.

Nikkor 24-85G ED AF-S VR, 70-300G ED AF-S VR, 28-105 3.5-4.5 AF-D, 50 1.8 AF-D

Nikon Series E lens, 28mm, 100mm, 135mm, 75-150mm, 70-210 f4.

MF Nikkor's 50 f2 Ai, 500 f4 ED Ai-P.

 

MF Rokinon 14mm f2.8 ED AE UMC(Ai-P)

MF Rokinon 85mm f1.4 ASP AE UMC(Ai-P)

 



Pro Manfrotto 055XV with Markins M10 ,Sirui P-326 6-Section Carbon Fiber Monopod with Markins Q3 Emille, Manfrotto Compact MKC3-H01M with Combo Head, 3Pod PTT1H Table Top Tripod with Giottos MH1304 Ballhead.


#5 Dennis

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Posted 28 May 2014 - 06:30 PM

B)


Thanks, Dennis.

Photography: 100 percent art, 100 percent technical. It takes a photographer to blend them into an image.

​Film: That tangible image that you can see and hold.

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#6 fotofill

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Posted 29 May 2014 - 11:34 AM

I have all insurance with State Farm. My equipment is covered for theft no matter where it is located. I asked for a rider for it for damage. They do not write policies for FREELANCE photographers. Agent wrote one and it was rejected. Different agent wrote another and it was also rejected. Agents were not up on the policy at State Farm. They sent me to an independent agency. Fulltime employment at a news bureau, no problem, that qualifies. I am sitting on it for now. In my many years of working I banged a SB800 against a door frame and needed repaired. I dropped a F3 when one of those flat-spring loaded straps failed. It bent the lens mount and damaged the front edge of the lens. I had a rider and State Farm paid for all repairs. That would have been in about 1980. I guess they figure I am too dangerous now. 


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#7 Art

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Posted 29 May 2014 - 12:27 PM

Phil,

 

Every time I hear STATE FARM.... well... I won't describe the emotion.  I will warn you if I haven't already... Last I cared to look, State Farm was the WORST of the insurance companies for payouts.  I had to sue them for a theft claim and it took 5 years.  They paid in full before we went to court.

 

They hang on every thread of legalese in their contracts so be aware and they will skin you if they can. 


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#8 Art

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Posted 29 May 2014 - 12:29 PM

Thanks PJ, I sent in the request, will read it later.


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#9 Donna

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Posted 29 May 2014 - 01:23 PM

I downloaded this yesterday and put it on my ipad for further reading.  I need to get my stuff insured.... I already talked to my insurance guy about it.  I need to get every piece of equipment logged and a value and we will go from there.  Not sure how to put a value on my D60 since they aren't made any more.  


I'm shooting with the D7100 and D60 as my back up.

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AF-S Nikkor 50mm f/1.8G
AF-S Nikkor 55-200mm f/4-5.6G ED
Tamron 70-300mm f/4-5.6
Tiffen UV Protector
Tiffen Circular Polarizer

#10 Dennis

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Posted 29 May 2014 - 03:53 PM

I downloaded this yesterday and put it on my ipad for further reading.  I need to get my stuff insured.... I already talked to my insurance guy about it.  I need to get every piece of equipment logged and a value and we will go from there.  Not sure how to put a value on my D60 since they aren't made any more.  

 

You want to talk about replacement value. And make sure you can get a new camera if this one gets toast.


Thanks, Dennis.

Photography: 100 percent art, 100 percent technical. It takes a photographer to blend them into an image.

​Film: That tangible image that you can see and hold.

My Web Site.
My 500px page.

My Instagram.
Member; Colorado Springs Creative Photography Group, NPS member.

Nikon D4, D850, D200, Fm2, FM, Mamiya RB67.
 


#11 Gary Worrall

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Posted 29 May 2014 - 06:56 PM

Good post

Just updated mine recently

Unfortunately, it does cost a lot as I have mine covered no matter where I am and accidental damage

Disclaimer, except terrorism!  :(


- I have a photographic memory but never got it developed -


#12 fotofill

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Posted 30 May 2014 - 02:17 PM

It is expensive, for sure. But if you have a 2K camera and the deductible is 500. you are 3/4 of the way home.


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#13 ericbowles

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Posted 03 June 2014 - 06:38 AM

Good article - thanks for sharing.

 

For insurance purposes, I separate my gear into pro gear and other gear used by my wife or me for personal use.  Things like my Nikon V1 or old DX lenses are not used professionally while my D800E, D600, and my f/2.8 and f/4 lenses are used professionally.  

 

For personal use, I have a rider on my homeowners policy.  Everything is scheduled with item description, serial number, and replacement cost.  The premium is about $1.10 per year per $100 of replacement value.  The policy specifies non-professional use.   I've had one claim in 10 years for a bag lost or stolen in Italy.  They paid full replacement value immediately - no questions or difficulty at all.  The insurance company is Cincinnati.  

 

I have professional gear covered through NANPA.  They have a program through Rand Insurance underwritten by Chubb.  The cost is about $2.25 per $100 of value and there is a small deductible.  There are a lot of NANPA members that join for just the insurance program.  It is checked against the member roster and membership and coverage must be continuously maintained - you cannot drop it and add it later before a trip. NANPA membership is $95 per year.

 

I generally do not file claims for normal wear and tear repairs even though they might be covered.  My repair costs for accidental damage has always been in the $300-500 range so it is not economical to file a claim and risk cancellation after a subsequent claim.  After deductibles, there was little benefit.

 

PPA provides coverage to PPA members.  They have $15,000 of free coverage that is included with the $350 annual membership.  I dropped my PPA membership but talked with them once about a possible claim.  They have a deductible of $250 for the first claim that escalates based on claim frequency, and an additional deductible of $250 for drops and impact damage.  The coverage value is based on book value from when the item was originally sold - not replacement value. They also have paid coverage that is typical of professional policies - $2.20 per $100 for coverage with a deductible.

 

Professional use coverage is hard to find without a relationship.  The risk of fraud and excessive claims is a problem.

 

I track all of my gear on a spreadsheet that includes the item name, serial number, purchase date and source, condition, and replacement value.  I update the replacement value annually based on KEH for most items.  Some items do go up in value occasionally - even more than cost in a couple of cases.  I include camera bags, filters, etc.  My one claim included reimbursement for filters and a bag.

 

The real risks I am insuring against are theft - particularly of a camera bag full of gear or a break in, and dropping and damaging an expensive item.  Items or groups of items under $500 are not going to result in claims by themselves on personal or professional policies - only in combination with a camera body or lens.


Edited by ericbowles, 03 June 2014 - 06:39 AM.

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#14 fotofill

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Posted 06 June 2014 - 08:45 PM

Good info


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