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12-05-2016, 07:04 PM   #1
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Insuring photography equipment in Australia

I was walking home from a shoot the other night, and my thoughts turned to the replacement cost of just the equipment I had with me (K-1, DFA 15-30, 28-105, 70-200) and my knees buckled. It was over $9k, with plenty of other equipment at home.

That raises the question of whether I should insure it, and if so with whom. What do other Australian Pentaxians do? Is your equipment insured? And if so, is it as part of your general household insurance, or is it a special policy just for your photo gear?

Any tips/thoughts appreciated.

12-05-2016, 07:15 PM   #2
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Paul just me, but I have Insurance for all the big things in my life such as House/ Car and Caravan, but my Camera equipment is not insured when out and about. It is obviously insured against theft when at home.

I have seen cover is available for Pro photographers through AON.
12-05-2016, 07:26 PM   #3
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QuoteOriginally posted by kev.pride Quote
Paul just me, but I have Insurance for all the big things in my life such as House/ Car and Caravan, but my Camera equipment is not insured when out and about. It is obviously insured against theft when at home.
Is it "obvious". Read the fine print of your home contents insurance. It may place a limit on any one item, or on collections of related items.
12-05-2016, 08:02 PM   #4
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I just insured all my gear here in the U.S. with a PAP policy, Personal Articles Policy. For $10,000 of coverage it cost me $107 for a year.

It was really a no brainer to do, if I was ever robbed or dropped my K-1 and DA-560 and broke them it's nice to know I will be able to replace them.

12-05-2016, 08:05 PM   #5
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QuoteOriginally posted by Paul the Sunman Quote
What do other Australian Pentaxians do? Is your equipment insured? And if so, is it as part of your general household insurance, or is it a special policy just for your photo gear?
Hi Paul,

I have my kit covered under my house and contents insurance through CGU. Indeed, when my home was broken into back in 2012 they replaced all my kit when it was stolen from my home. This prompted me to investigate what will be covered if it's not in my home at the time and apparently my kit will be covered. However, this is not covered under the standard premium so there is an additional cost, though it's dollars per month so I prefer to accept the extra cost than gamble that my kit will be safe.

With my insurance there is a limitation on the total cost of an individual item that they will funded which is $2500, however you can nominate specific items by name/serial number and cost and these will also be covered. Again, it will push the premium up a few bucks, but 2.5k won't replace my K-1, 70-200 or 150-450.

The best thing to do is call your current insurer and see what cover they provide as it's likely to be similar to my situation. I would also look at your car insurance as there may/may not be some coverage there to consider when you're making the financial desicions if coverage is extra.

Tas
12-05-2016, 08:20 PM   #6
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I have "Portable Contents cover" on my home contents insurance which is for any valuable item, no need to nominate the items. But I only have it set at $1000. So that will cover 'most' of my K-3 and a lens.
12-05-2016, 08:21 PM   #7
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Here is US, I added an equipment rider to my Business Owners Liability Policy. The important part is the liability coverage which some venues require. Added Business Personal Property which includes gear, on and off premises. Basic Deductible is 1,000, had my agent write for 10K of equipment. Good for renting gear too.

12-05-2016, 09:40 PM   #8
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I insured my K-1 out-and-about as an addition to my RACV home and contents coverage.
12-06-2016, 12:16 AM   #9
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as per Clackers for me... but I'm showing my age "APIA insurance company" covers DFA 150-450 ($150 per annum for $2,900 cover...."specified Valuables" .... $100 excess) .... I regularly go out onto the water with .... maybe $10-12k or so of stuff in a quite tippy canoe.... just added "floaties" to the canoe... different form of insurance (must take a picture of it now). Hoping to chase Whales in the southern ocean in it next year when they come back this way.

Anyway.... best not to write down how much all your gear adds up to.... in case partner sees it.

"This message will self destruct in 20 seconds......"

Last edited by noelpolar; 12-06-2016 at 12:24 AM.
12-06-2016, 01:02 AM   #10
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I am with the RACV and have my gear covered as an addon to my Home Contents insuance under Portable Valuables. This covers them outside the home if they are lost, stolen or unintentionally damaged.
12-06-2016, 01:09 AM   #11
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Your Insurance Co is only as good as CLAIM TIME! They don't like these things!....I'm testing my company now, a bushfire wiped out some fences sheds and other outside stuff.


The house contents section of your policy usually covers cameras but some companies do have a limit on item value( read the fine print)...In your Duty Of Disclosure you may be asked for items exceeding a certain $ figure.If you don't dislose these facts they can deny any claim.


APIA is a marketing exercise,just a front for one of the main companies....don't believe their TV spiel.
12-07-2016, 04:55 AM   #12
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QuoteOriginally posted by Paul the Sunman Quote
Is it "obvious". Read the fine print of your home contents insurance. It may place a limit on any one item, or on collections of related items.
For me it is Paul, but your correct you need to check the cover your company gives you via their PDS forms which are usually readily available online. Most have $ limits on items unless specified which is easy to do if you remember if items increase in value or you change them.

---------- Post added 12-07-16 at 10:34 PM ----------

QuoteOriginally posted by surfar Quote
APIA is a marketing exercise,just a front for one of the main companies....don't believe their TV spiel.
Actually it is now a fully owned Subsidiary of Suncorp. Even from its inception 30 odd years ago it was run as a Subsidiary of another company which has now been purchased by Suncorp tailoring its Policies for the over 50's market.
12-07-2016, 11:01 AM   #13
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QuoteOriginally posted by kev.pride Quote
tailoring its Policies for the over 50's market.
An under 50 and an over 50 policy, tell me the difference?
12-07-2016, 07:18 PM   #14
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QuoteOriginally posted by surfar Quote
An under 50 and an over 50 policy, tell me the difference?
If you really want to know why not compare all the companies policies that are issued to clients through other sales streams and those of Apia. I don't have the time or interest to do so.

I actually work for a competitor who issue policies through many different sales streams and whilst many of the covers and wordings are identical, at the same time many areas are different, to target and to have a point of difference either in price or coverage.
12-07-2016, 07:22 PM   #15
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So how do the policies differ from the previous owners to Suncorps?
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