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Scuba Forum / General / August 2007

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Camera Equipment Insurance

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Rick Simms - 30 Jul 2007 17:47 GMT
How many of the U/W camera buffs here carry insurance on their
equipment and which carrier(s) do you use?

Rick Simms
RayC - 30 Jul 2007 17:57 GMT
> How many of the U/W camera buffs here carry insurance on their
> equipment and which carrier(s) do you use?
>
> Rick Simms

My camera is covered under the home-owner's insurance.  Our agent knows
what we do and said that if our housing ever floods, that it needs to be
reported as "mysterious disappearance".

Of course, it is a $500 deductible, so I am out some moola any way I go.

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Ray Contreras
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JOF - 30 Jul 2007 18:09 GMT
>> How many of the U/W camera buffs here carry insurance on their
>> equipment and which carrier(s) do you use?
[quoted text clipped - 6 lines]
>
>Of course, it is a $500 deductible, so I am out some moola any way I go.

Did your agent recommend listing the camera and gear on a special
rider, like high end audio gear etc?

JF
RayC - 30 Jul 2007 18:34 GMT
> Did your agent recommend listing the camera and gear on a special
> rider, like high end audio gear etc?
>
> JF

No ... just normal household inventory.

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Ray Contreras
=-=-=-=-=-=-=-=-=-=-=-=-=-=-
Webmonkey for:
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http://www.bobs-garage.com
http://www.coltri-usa.com
http://www.rayzplace.com

Rick Simms - 30 Jul 2007 20:50 GMT
>> How many of the U/W camera buffs here carry insurance on their
>> equipment and which carrier(s) do you use?
[quoted text clipped - 6 lines]
>
>Of course, it is a $500 deductible, so I am out some moola any way I go.

My home owners is not an option at this point.

Rick Simms
Ron - 30 Jul 2007 21:39 GMT
>My camera is covered under the home-owner's insurance.  Our agent knows
>what we do and said that if our housing ever floods, that it needs to be
>reported as "mysterious disappearance".

 Yes, your homeowner's insurance will probably cover it.
However, you'd be crazy to file a claim.  If your camera gets
destroyed in a fire in your house, by all means include it in
your claim.  Filing a claim for something small will likely cost
you more than you get from your insurance company.  Home
insurance companies don't like people who file claims.  They tend
to respond by either dropping you entirely or by significantly
raising your premium.
 I've read numerous news articles on this, but can't quickly
find an online example.  Here's advice from Kiplingers, though.
http://vega.kiplinger.com/columns/ask/archive/2004/q0618.htm
 Bottom line: get specific coverage elsewhere.

Signature

Ron

icedragon - 30 Jul 2007 18:30 GMT
Your home insurance should cover it.

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icedragon
http://www.scubish.com

Art Greenberg - 30 Jul 2007 18:43 GMT
>  How many of the U/W camera buffs here carry insurance on their
>  equipment and which carrier(s) do you use?
>
>  Rick Simms

Until about 6 months ago (at the last renewal opportunity), I used DEPP
for a housed film SLR and my wife's housed MiniDV camera.

DEPP badly bungled the renewal "experience", which caused me to not
renew, and investigate options. Based on what I've been able to find on
line, in postings from others as well as other companies offering
coverages similar to DEPP, it seems that homeowner insurance and/or an
all-risk personal items policy may be superior in terms of cost and
coverage.

I have not yet decided what to do. Our UW camera gear only gets wet in
the tropics, and our next such trip is far enough in the future that I
can save some money while I ponder my options.

Signature

Art Greenberg
artg at eclipse dot net

Rick Simms - 30 Jul 2007 20:42 GMT
>>  How many of the U/W camera buffs here carry insurance on their
>>  equipment and which carrier(s) do you use?
[quoted text clipped - 14 lines]
>the tropics, and our next such trip is far enough in the future that I
>can save some money while I ponder my options.

Tks Art, I appreciate the comments. DEEP and Dan were the two, that
most people I've asked, have recommended.

Rick Simms
Art Greenberg - 31 Jul 2007 00:56 GMT
>  Tks Art, I appreciate the comments. DEEP and Dan were the two, that
>  most people I've asked, have recommended.
>
>  Rick Simms

I neglected to mention that I'd had DEPP for 7 years. All of the gear,
including camers, housings, lights, etc. cost a little over $700/year
for around $25,000 in equipment, of which about $12,000 was covered for
flood damage. I never had to file a claim. I was always worried about
what would happen if I had to, since they were consistently careless in
transcribing my equipment list (which always included serial numbers)
into their official database. Suffice it to say, each year I became a
little more dissatisfied with their customer service. Between the
relatively high annual cost, the fact that I was insuring obsolete gear
(Nikon F4, housing and accessories) and their complete screw-up with my
renewal, I thought it was a good time to reevaluate.

I think either DAN or DEPP (if you can deal with them) will be a
reasonable choice. Both have produced positive testimonials from
satisfied customers. Just be sure you understand what they do cover, how
they would treat a flood, and the deductibles. In my case, the SLR body,
data back, and sport finder would each have a deductible applied under
some policies (PADI? I don't remember now), since the SLR did not come
with the data back and sport finder.

Also check if the policy you're considering covers total loss while
aboard a dive boat or diving - e.g., the camera overboard situation, or
some underwater emergency that causes you to drop the camera. Some
policies expressly exclude coverage for this. I guess that's to
discourage fraud.  You have to decide if that's important to you.

Good luck.

Signature

Art Greenberg
artg at eclipse dot net

Greg Mossman - 30 Jul 2007 18:55 GMT
> How many of the U/W camera buffs here carry insurance on their
> equipment and which carrier(s) do you use?

I just dumped a small fortune on the new housing, so I got a policy
before I went to GC.  I've done it in the past when I've bought new
gear, usually over fear of flooding.  This time I was more worried
about theft (airline, hotel, or otherwise).  Sure, I could hit up my
homeowner's insurance if I needed to, but I'd rather keep them out of
it in case I ever need to shop a new policy.

I got the latest policy via DAN's website.  The agency is Senn Dunn
Marsh & Roland, underwritten by Fireman's Fund.  I've read testimonies
that claim they provide decent service in case of loss, so I believe
it's money well spent if something happens.

The policy was $348, for insurance on a replacement cost of $11,574.
$100 deductible ($250 in case of flooding).  I put everything on there
that I'd need to replace if my u/w case were stolen (housing, ports,
strobes, arms), plus the camera and lenses in case of a flood.  If I
average the cost over several trips and additional local diving, it's
a small price to pay for that much protection (and the associated
peace of mind that goes along with being protected).
JOF - 30 Jul 2007 19:33 GMT
>> How many of the U/W camera buffs here carry insurance on their
>> equipment and which carrier(s) do you use?
[quoted text clipped - 18 lines]
>a small price to pay for that much protection (and the associated
>peace of mind that goes along with being protected).

Probably wise to keep it separate from the Homeowner's. My brother had
a bunch of music and recording gear stolen from his house and the
Homeowner's carrier denied coverage quoting a bunch of obscure fine
print in the policy, the stuff we never bother to read. The gist of
what he learned was that whenever one has specialized/unique equipment
that can be classified as at all exotic or better than average one is
best to go with specific coverage, or at least a policy rider
itemizing the items and pay the extra premium.

That being said I hear stories all the time of folks getting
individual losses covered under the Homeowner's. For me it always seem
to come down to the fine print.

JF
Rick Simms - 30 Jul 2007 20:48 GMT
>> How many of the U/W camera buffs here carry insurance on their
>> equipment and which carrier(s) do you use?
[quoted text clipped - 18 lines]
>a small price to pay for that much protection (and the associated
>peace of mind that goes along with being protected).

Tks Gregg. I knew that you had just dropped a significant amount on
new gear and was wondering if and who you had covered with. Looks like
you and Art had or have gone with the same people that have been
recommended. I'll look at DAN.

Rick Simms
Sheldon - 30 Jul 2007 21:17 GMT
> How many of the U/W camera buffs here carry insurance on their
> equipment and which carrier(s) do you use?
>
> Rick Simms

Lot's of times it depends on the value and whether you do it professionally.
Normally you would get these things covered under your homeowners policy,
and even that's sticky.  While I have personal property insurance, I had to
get my watch put on another policy.  Go figure.

Also, the price is usually cheaper when added to a regular policy.  In other
words, if you try and get the equipment insured by itself you will not get
as good a price as if you get it insured under your homeowner's policy.

If you are concerned about dropping the thing down to Davy Jones' Locker,
you're getting into the same category as my watch.  It will be another
policy under your homeowners policy and hopefully covered for loss and
accidental damage.
Dan Bracuk - 30 Jul 2007 22:29 GMT
Rick Simms <rick_simms@bellsouth.net> pounded away at his keyboard
resulting in:

:How many of the U/W camera buffs here carry insurance on their
:equipment and which carrier(s) do you use?

Not me.

Dan Bracuk
Never use a big word when a diminutive one will do.
Jeanne - 31 Jul 2007 01:50 GMT
> How many of the U/W camera buffs here carry insurance on their
> equipment and which carrier(s) do you use?
>
> Rick Simms

I've been using DEPP for years and am very pleased with them.  I've had
several claims which they handle with no fuss or bother.

Jeanne
Dillon Pyron - 06 Aug 2007 04:40 GMT
>How many of the U/W camera buffs here carry insurance on their
>equipment and which carrier(s) do you use?
>
>Rick Simms

No.  It's too damned expensive.  My whole kit is worth about $1500.
The camera itself is about $500.  Insurance for it through V&B (who
offer an "all events" coverage) is about $150 a year.  There's no
deductible on it.

I just figure if it floods it floods.  I bought the camera originally
in 1992 and replaced the body in 2004.  At the time the camera shop
said they were surprised it lasted that long.  Most MX10s only survive
about 5 years before something wears out.  But they also said mine was
pretty much shot.
Signature

dillon

Opinions are like farts.  
Everybody has them, but mine don't stink

 
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