Camera insurance at rate of 1.5%

[raid]

I will on Monday start a personal articles insurance for the M9 with 35mm Lux, and for the SWC. It will cost 1.5% of the declared replacement value.

Is it worth it? Many would say Yes.

A new "SWC" may cost $7000; a new Leica M may cost $6000; a new nonASPH 35 Lux may cost $3000.

So, we have around $16,000*1.5%=$240 per year.

 

[raid]

Would you insure only the M9 to keep the cost down?

 

[thegman]

I'd probably just insure the M9 + lens, as the actual cost to replace the SWC is a lot less than $7000.

The Leica is probably more of a thief magnet too.

 

[raid]

I think that I am inclined the same way.I need to balance insurance premiums with replacement values. Digital equipment will be targeted by thieves, and the M9 can break when hitting something.

 

[dave lackey]

SWC? What is this?😱

$7000?

 

[raid]

Hasselblad Super Wide Camera SWC. It comes with a fixed Biogon 38mm lens.

 

[dave lackey]

Ah...the Hassy....but why would you not insurance a $7000 rig? Because it is film? Doesn't matter to a thief or if it is broken or lost. A thief will take and sell what he can. Broken or lost would only mean what my parents would tell me as being "penny smart and pound foolish". Meaning that 1.5% of $7000 is a small price to pay if the equipment is gone for some reason.

JMO, but I would insure all of it and save the grief of worrying about it. YMMV.:angel:

 

[raid]

Dave,
You may be right here.
I expect to pay $240 plus maybe $40 for the appraisal.

 

[enero]

Is this the same kind of insurance that is otherwise known as "personal" or "renters" insurance? I have this type of insurance through State Farm and it doesnt require me to declare anything in particular (as long as its not a business expense). I just have pick the blanket amount (15k, 20k, 30k, etc) I want covered and Im good for any loss or damage. I currently have coverage up to 20k (give or take, its been awhile since I looked) of property insurance and I pay $250 a year.

Ive been wondering if I should upgrade this, since I've been accumulating more junk in my life. The only thing that worries me is that since I havent upgraded my coverage in a really long time that things might have changed and that they will, now, make me inventory all my high(er) ticket items.

 

[raid]

You need a personal articles replacement value coverage. Else, things can be highly depreciated.

 

[enero]

I had to make a claim once about 7 years back after a break-in, and they just gave me whatever price I showed them a receipt for or whatever the current market value was for a new replacement. I actually spent about an hour on the phone with a claims specialist, online shopping for prices. They also gave me the option for them to just replace the physical item or send me a check. I opted for the check and actually made a few hundred back on my deductible (which is $500), because I was able to find some better prices on my own 🙂

 

[raid]

I had State Farm for many years, and I had to buy from them a separate personal articles insurance policy.

 

[enero]

ill have to look to see if this is something they make you do after a certain dollar value, or if this is just their general policy now.

 

[sepiareverb]

I pay just over twice that for substantially more coverage, for all my equipment. Shop around. I called up the three local brokers who came recommended. Got a bunch of quotes that were all over the place.

 

[Pastor Chris]

I have a valuable personal property rider on my homeowners insurance for replacement value of the equipment I use most and I think it is well worth the expense. Loss and damage is covered. I have used it several times I the last few years, drops, bangs, sand at the beach. The only hitch is that you cannot use it if you are in any way a professional. Private use only but worth it.

 

[raid]

I have so much equipment that it would cost way too much to cover all equipment. Who were the three brokers?