Whether you are a professional photographer or just like taking photos with a high-quality camera, you know how expensive such equipment is. Generally, cameras cost thousands of dollars, not including the cost of memory cards, full frames, lenses, tripods, and other accessories you may want to enhance your experience. Thus, it is crucial to consider getting camera equipment insurance.
Often, we consider taking out different types of insurance on any valuable or expensive items we own. This ranges from cars to homes to jewelry to electronics and even mobile devices, like tablets, laptops, and smartphones. Such insurance aids in paying for repairs or replacing these items if they experience any issues or get stolen.
When it comes to professional photographers and videographers, camera equipment serves as the primary source of income. But what if the equipment is stolen, damaged accidentally, and lost? This is where camera insurance comes into play. You will be happy to know that not only is camera insurance affordable, but it is also easily accessible to everyone.
Is It Worth Getting Insurance for a Camera?
As a professional or amateur photographer, you may wonder if getting insurance for your camera equipment is worth it. Before making a decision, there are several factors to consider. Some of them include:
- Do you live in an area with a high-crime rate or frequently photograph in such areas?
- Is your camera equipment expensive? Can you easily replace this equipment effortlessly?
- Are you a professional photographer or videographer?
- Is your home at risk of experiencing fire or floods, or do you frequently shoot in such areas?
- Do you travel a lot?
- Is your camera prone to getting storm damage?
If you are a professional photographer or videographer, you must get photographer’s insurance from a reliable and trustworthy provider. Such insurance will protect your business from intentional or accidental damage, theft, or loss. It is similar to when business owners take out general liability insurance to protect their business property.
Can I Insure My Photography Equipment?
Yes, you can insure your photography equipment whether you take photos professionally or as a hobby. Although your homeowner’s insurance policy may cover your photography equipment, if you own a home, you can take out individual camera insurance for your equipment. Depending on your preferred insurance provider, such coverage may include:
- Theft of photography equipment
- Mechanical or electrical failure of the equipment
- Accidental damage, may consist of broken lenses, dropping of the camera, or submerging the equipment in water
It is worth noting that even while the world’s best photographers insurance policy will save you money, time, and a lot of frustration in the long haul, it is still crucial to follow certain safety procedures to prevent loss, theft and unintentional damage to your expensive camera gear.
For example, you may install a home security system, ensure you lock your car and house windows every time you leave your equipment there, and limit the number of people who have access to your photography studio or space. You can also opt to memorize or note down the serial number of your equipment, which can be very helpful when you file a claim for loss or theft. Knowing the serial number aids in speeding up the process of replacing or paying out for your gadget.
How much does it cost to insure photography equipment?
Although most equipment coverage options are expensive, camera protection does not have to be pricey. Instead of taking out camera protection alone, you can combine it with other equipment protection to get your money’s worth. For instance, if you combine your camera equipment with your home, smartphone, or personal property protection, you do not have to spend extra when paying for camera equipment protection.
It is vital to note that camera equipment protection depends on the type of coverage you get, items covered, their price, and how many items you insure. Another critical factor to note is that if you want to insure the accessories of your camera equipment, you have to take out extra coverage for them.
For instance, AKKO’s Protection Plan provides customizable protection to its users. Its most successful product is its phone protection plan which covers one phone and up to 25 other devices, including camera equipment, tablet, smartwatch, desktop computer, and other electronic gadgets, for as little as $15 per month. Unlike insurance providers like Applecare, Verizon, SquareTrade, Geek Squad, and T-mobile, AKKO offers its users an unlimited number of claims. It also has low deductibles and offers more coverage options than its competitors.
Does Homeowners Insurance Cover Camera Equipment?
Yes, some homeowners insurance policies cover camera equipment. But, this policy is more suitable for amateur photographers or those that do it as a hobby. They also cover the most common damages that can potentially occur to your equipment. However, it all depends on the type of insurance you have. For instance, some policies may cover theft or losses but not the regular ‘wear-and-tear.’ As a result, this is not a suitable insurance policy for a professional photographer or videographer.
However, you can opt for Extra Coverage under your home insurance policy to get more coverage for your photography equipment. However, your policy must include the appropriate coverage options for adequate protection.
In today’s digital age, many people view electronics as some of their most prized possessions. Thus, it only makes sense to insure such products since their loss, theft, vandalism, or damage can significantly disrupt your daily habits and even livelihood.
AKKO can assist in offering you the peace of mind needed, thanks to its comprehensive and cost-efficient device protection plan. Whether photography is a hobby or a career, you cannot let such pricey equipment go uninsured.
Our phone protection plan and family plans provide our customers with complete security for up to 25 devices, including photography equipment, laptops, tablets, TVs, ps5, audio equipment, and many more. For more information on our coverage options, contact us immediately.