Camera Insurance-Part 2
An insurance company has to take great care when offering coverage for camera property. Key questions to ask include the following:
How is the equipment used? - Normal, personal use is expected; so, persons involved with pursuing dangerous photos (tornado chasers), persons seeking fame by being amateur newshounds or by securing footage of disasters could present a problem. A much more common concern is whether the use is professional, which represents a higher chance of loss than is handled by personal, camera coverage.
What is the type of equipment? - Again, equipment that is used for regular purpose is desired. Persons who own equipment that may represent unusual use would not qualify for coverage.
What is the value of the equipment? - Persons who own many thousands of dollars of equipment that is new and state-of-the-art may be a warning flag. It may indicate a professional photographer who needs to buy commercial insurance. A part-time or free-lance professional photographer should not be written under a personal camera floater policy.
What is the extent of the equipment - An unusually high amount of processing equipment and materials indicates a professional situation. Even you are an avid amateur an insurance company may shy away from or seek much more information before offering coverage. They may want to know if there is a separate darkroom. Where is it located? Are processing chemicals stored safely? Is the equipment operated safely?
Any loss information must be shared in detail with the insurance company. Another consideration is how a person handles their camera equipment. An insurance company will treat an owner who keeps much of his equipment in full display in his home and garage, and one who installs a central alarm system and keeps all of his equipment in a room dedicated to his hobby.
A Camera Floater policy may not be written to cover:
Television cameras and equipment,
Coin or token operated devices,
Cameras or related property for the benefit of dealers or manufacturers,
Aerial cameras or radar cameras.
The important thing is to go over your situation with an insurance professional.
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