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Thread: Equipment Renter Insurance

  1. #1
    Super Duper
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    Equipment Renter Insurance

    I have the excellent opportunity to test some photographic gear on my trip next month to the North Rim; all I need is an insurance policy that will cover the stuff for 2 weeks. I went to my insurance agent (State Farm) and found they don’t offer anything; I also checked on line at PPA and didn’t see anything for rentals.

    Any ideas?



    don
    Don Libby
    Iron Creek Photography
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  2. #2
    Subscriber Member TRSmith's Avatar
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    Re: Equipment Renter Insurance

    Do you have a business insurance policy?

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    Administrator, Instructor Guy Mancuso's Avatar
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    Re: Equipment Renter Insurance

    I am with Hill and Usher . Might be worth a call, not sure but i think i do have rental insurance. 300 pages of documents that no one reads. LOL
    Photography is all about experimentation and without it you will never learn art.

    www.guymancusophotography.com

  4. #4
    Super Duper
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    Re: Equipment Renter Insurance

    Quote Originally Posted by Guy Mancuso View Post
    I am with Hill and Usher . Might be worth a call, not sure but i think i do have rental insurance. 300 pages of documents that no one reads. LOL

    Thanks Guy - are they local? Do you have a phone number? I have equipment insurance with State Farm but as I do only landscape I don't really need any other business insurance. I keep telling folks that my real studio is where I happen to be when I took the image.

    don
    Don Libby
    Iron Creek Photography
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    Sr. Administrator Jack's Avatar
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    Re: Equipment Renter Insurance

    You're going to have a very difficult time finding temporary coverage. Most all insurance companies write policies for a one year period.
    Jack
    home: www.getdpi.com

    "Perfection is not attainable. But if we chase perfection, we can catch excellence."

  6. #6
    ericstaud
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    Re: Equipment Renter Insurance

    Quote Originally Posted by Iron Creek View Post
    I have the excellent opportunity to test some photographic gear on my trip next month to the North Rim; all I need is an insurance policy that will cover the stuff for 2 weeks. I went to my insurance agent (State Farm) and found they don’t offer anything; I also checked on line at PPA and didn’t see anything for rentals.

    Any ideas?



    don

    You need a policy catered to professional photographers. It looks to me like you are operating a business in photography. Your homeowners insurance would likely deny a claim for your cameras if they took one look at your web site.

    Photographers insurance will cover your cameras and rental gear anywhere in the world, as well as giving you liability and other coverage required under law to operate a business. Also, at the rental place you just leave a $500.00 deposit on your card for the deductible rather than for the total value of the equipment you rent.

    Office equipment like laptops and desktop computers are only covered on your premises (for a much lower rate), so you need to include any equipment you take with you to shoot (or teach workshops) with the camera gear.

    Here is one place to start:

    http://www.tcpinsurance.com/

    Make an Excel sheet with everything you own first. Separate the office equipment (that stays in the office) into its own category. The insurance is for the replacement value you choose. If you put $500 for that old lens, they will give you $500. If you put $1000, they give you a thousand, but you pay for insurance based on that overall value. If you are shooting commercial work on a tight schedule, then put down the new price of the item so you can walk into a store and replace it when it's stolen. It's a big hassle to have to go to Ebay to replace all that stuff you only had insured for half its replacement value.

    Some photo organizations negotiate special deals for their members like this...

    http://www.apanational.com/i4a/pages...fm?pageid=3501

    These policies are written understanding how photographers use and need insurance.

  7. #7
    Administrator, Instructor Guy Mancuso's Avatar
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    Re: Equipment Renter Insurance

    Don check this link. Photographers package

    http://packagechoice.com/
    Photography is all about experimentation and without it you will never learn art.

    www.guymancusophotography.com

  8. #8
    Administrator, Instructor Guy Mancuso's Avatar
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    Re: Equipment Renter Insurance

    Yes mine handles the whole bowl and wax. Gear , computers , liability and all that and really not that bad price wise
    Photography is all about experimentation and without it you will never learn art.

    www.guymancusophotography.com

  9. #9
    Administrator, Instructor Guy Mancuso's Avatar
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    Re: Equipment Renter Insurance

    Just a idea

    Package Choice Details

    Coverages Available in Package Choice

    When you complete our online form our licensed agents configure the right coverage to the size and needs of your photography or videography business. Don’t worry about paying too much premium for a policy. Our program includes starter policies for beginners as well as more comprehensive policies for photography veterans. Below, we have outlined the coverages most often appearing in our Package Choice policies.

    Cameras & Equipment

    Protects your cameras, lenses, flash and other valuable equipment while at your home, studio, or on location anywhere in the United States.
    Automatic coverage for theft and accidental breakage.
    Insurance carrier pays Replacement Cost—the cost of new equipment of like kind and quality—in the event of a claim.
    International Coverage is available in most areas.
    Studio Contents

    Covers studio contents up to the limit you specify and stated in the policy.
    Covers office furnishings, tenant improvements made to your rented studio, dark-room equipment, supplies, and telephone equipment.
    Computers and Media

    Covers computers, printers, scanning equipment, and other hardware against accidental loss.
    Software Coverage automatically included.
    Rented/Leased Gear

    Protects your rented, borrowed or leased equipment while in your care.
    Coverage is automatically included up to the limit shown in the policy, generally $10,000.
    Documentation of coverage may be provided to rental houses when requested.
    Commercial General Liability

    Protects your business operation from claims arising out of injuries to your customers or the general public, or from damage to the property of others.
    Protection extends up to your policy limits. Included is coverage for premises-operations, products-completed operations, personal injury and advertising liability.
    Limits of $1,000,000 per occurence/ $2,000,000 aggregate are standard; $2,000,000 per occurence / $4,000,000 aggregate is also available.
    Errors & Omissions Liability – A Package Choice Exclusive!

    Errors & Omissions protects the photographer or videographer from the financial consequences of a variety of human errors or omissions.

    When Errors & Omissions might apply:

    If you forget or misplace film or a media drive, release it to the incorrect party, or fail to show up for an event.
    If a customer challenges the quality of your work or your overall professional performance.
    If you hire staff members or assistants who make an error while on a shoot. Competitor programs do not automatically cover the work of assistants or independent contractors.
    Other benefits of Errors & Omissions through Package Choice:

    No deductible applies in the event of a claim.
    Lawyers, expert witnesses, court fees, and outside investigators included in the coverage payments.
    Funds to pay for a reshoot may be provided by the policy.
    Now available in all states except Hawaii.
    Transit Coverage

    An available option providing coverage for your covered film and property while shipped using an approved common carrier, excluding the United States Postal Service.
    Business Income Interruption & Extra Expense

    In the event of a covered property loss, this coverage will reimburse the policyholder for actual loss of earnings up to 12 months, as well as cover additional expenses necessary to conduct normal business operations.
    Available Coverage Extensions

    Minimal Limits for the below listed coverages are included in Package Choice and may be adjusted if necessary:

    Accounts Receivable

    Back up of sewers & drains

    Employee and ERISA Employee Dishonesty

    Money & Securities

    Newly Acquired Business Personal Property

    Personal Effects

    Contents off premises

    Valuable Papers & Records / Film Coverage

    Building (optional)

    Pays to repair or replace your owned building and any improvements up to your policy limits.
    Covers most risks of direct physical loss.
    Photography is all about experimentation and without it you will never learn art.

    www.guymancusophotography.com

  10. #10
    Sr. Administrator Jack's Avatar
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    Re: Equipment Renter Insurance

    Guys, those packages are great, but they still are not offered for a temporary duration like Don is asking for. Finding a 2-week policy is going to be tough.

    If he wants a normal package policy, he can get a full-blown business policy from his State Farm agent...
    Jack
    home: www.getdpi.com

    "Perfection is not attainable. But if we chase perfection, we can catch excellence."

  11. #11
    Super Duper
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    Re: Equipment Renter Insurance

    Update

    I went on Hill & Usher's website and requested a quote. It appears from filling out the request that they do offer renters insurance just don't know as yet the terms, will keep you posted.

    don
    Don Libby
    Iron Creek Photography
    Blog
    Tucson AZ

  12. #12
    Subscriber robsteve's Avatar
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    Re: Equipment Renter Insurance

    If you read Guy's post above, it looked like rental was only covered to $10,000. You might want to make sure you are covered for the value of what you are renting.

  13. #13
    Super Duper
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    Re: Equipment Renter Insurance

    Quote Originally Posted by robsteve View Post
    If you read Guy's post above, it looked like rental was only covered to $10,000. You might want to make sure you are covered for the value of what you are renting.
    The quote request asks what the "normal" rental amount is. Will not jump until I have everything lined up the way I want/need it to be.

    Thanks

    don
    Don Libby
    Iron Creek Photography
    Blog
    Tucson AZ

  14. #14
    ericstaud
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    Re: Equipment Renter Insurance

    Quote Originally Posted by robsteve View Post
    If you read Guy's post above, it looked like rental was only covered to $10,000. You might want to make sure you are covered for the value of what you are renting.
    It's my impression that 10,000 is the baseline for rentals covered in most of these policies. Fashion shooters renting 6 Pro-7a's, a P30+, and everything else have to increase that to 100,000 or more. It's very easy to change this amount at any time with a phone call to the agent.

    It'll be interesting to see if they come up with something short term for Don's need.

  15. #15
    Administrator, Instructor Guy Mancuso's Avatar
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    Re: Equipment Renter Insurance

    Yea you can increase certain things in those quotes given
    Photography is all about experimentation and without it you will never learn art.

    www.guymancusophotography.com

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    Re: Equipment Renter Insurance

    I would call The Hartford commercial insurance, great company has professional, camera insurance and the lowest deductible out there 250 . I had 2 claims totaling 4300 bucks in 3 years paid fast and no raise in rates. Has the computer floater and covers a ton of stuff. David

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    Senior Member kdphotography's Avatar
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    Re: Equipment Renter Insurance

    Quote Originally Posted by dseelig View Post
    I would call The Hartford commercial insurance, great company has professional, camera insurance and the lowest deductible out there 250 . I had 2 claims totaling 4300 bucks in 3 years paid fast and no raise in rates. Has the computer floater and covers a ton of stuff. David

    Hartford is good with customer service, but the BAD part is that they audit you EVERY year and your insurance premiums are based soley on your gross receipts. In other words, it is a TAX on your gross income, which may have little to do with your actual exposure or risk.

    When I brought that up to their attention, the normally very friendly customer service quickly turned snide and quite curt. I've started shopping elsewhere....

    PPA offers "discounted" insurance through Marsh, which seems to offer a better deal. They do audit your gross, but not annually! (I asked).

  18. #18
    carbonmetrictree
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    Re: Equipment Renter Insurance

    Sorry for digging up an old thread, but I'd love to hear what insurance companies you guys are currently using for personal property and liability coverage.

    Thanks,

    Andrew

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    Senior Member stephengilbert's Avatar
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    Re: Equipment Renter Insurance

    Andrew,

    One thing that's changed is that consumers have to look at thier insurance companies a little closer than in the past. (Hartford, for example, has seen its stock price fall 92% as of last Wednesday. http://money.cnn.com/news/newsfeeds/...6f49946f51.htm)

    Although the chances are small, you wouldn't want your camera to go missing and then your insurer to do the same.

    Steve

  20. #20
    carbonmetrictree
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    Re: Equipment Renter Insurance

    Thanks for the information, good to know.

  21. #21
    Sr. Administrator Jack's Avatar
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    Re: Equipment Renter Insurance

    Don:

    You can buy a commercial business policy from State Farm too, and that will cover non-owned equipment. Just cannot get it for a short duration period, will be a one year policy...
    Jack
    home: www.getdpi.com

    "Perfection is not attainable. But if we chase perfection, we can catch excellence."

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