The recent thread on the theft and recovery of a camera in the B&S forum, brought up the subject of insurance. I wonder those who have used it, if you have experience with subsequent premium changes? I personally treat insurance as a legal requirement and last resort option - in that, I have it because I am legally required to, and/or for when the loss is something I can't reasonably cover myself. Otherwise, underwriters seem so skittish these days that the claim may cost you much more than face value long term. I've never used photography insurers but in my other pursuits, specialty insurances are known for being a one and done deal - one claim and you're banned (or your renewal premium is such that it effectively says so).
With the value of some of my gear, I have been considering enrolling, and not that I'd become cavalier about it but it would be good to have some peace of mind on the rare occasion that I do need to leave the giant backpack in the car. Would love to hear practical anecdotes about dealing with PPA, Sony Protection etc.
In 2018 I was in San Francisco at a drone conference. Rental car was broken into, and they got my Nikon D850, 24-70, 70-200, 20mm, 300mm, drone + all assorted drone stuff and laptop. In other words, a big enough hit that making an insurance claim was warranted. The circumstances meant I was able to submit against my homeowners insurance.
Process was incredibly responsive and fast. Submitted the police report and receipts for the gear and in about 3 days had a direct deposit in my checking account. There was no obvious ding to my premium either. From theft to fulfilled claim was 8 days.
Oof, that's quite the score for someone. Homeowner's insurance was also mentioned in that thread. How does it work exactly? I would think that homeowner's insurance covers losses under your roof. Do you need an agreed assessed value etc? Thanks!
Homeowners covered it as the rental car was deemed a personal vehicle at the time of the theft, so it was covered. As for value, I had receipts from B&H and Dell for almost all the gear. No arguments from insurance about any of it.
You have to provide that situation when getting insurance quotes, or modifying an existing policy. Some won't provide comfortable coverage for off-premises business personal property. PPA requires that theft from a vehicle proof of forced entry.
There was a rip-off crew in Silicon Valley that used to scope parking lots with packet sniffers inconspicuously searching for electronic device hidden in trunks. Then they'd do a key fob relay attack leaving zero forced entry. Some of the restaurants with tech savvy customers advised don't leave ANYTHING electronic in a car.
The Hartford also required proof of forced entry for vehicle theft. I needed that requirement removed, their revised quote was about $600 more per year. The only exception is if my stuff was stolen or damaged during civil unrest.
Check the language around Business Personal Property (BPP) off-premises. If you're not satisfied with the terms, ask the agent to revise it to your liking. Some agents don't understand the nature of photographers and offer what sounds like a good deal but will only cover your gear within 100 feet of your business address.
I've worked with Karson Kwan in Dublin to produce photography insurance quotes from all the major. It was great to see how they all compare.
