Newly Acquired Camera Equipment Insurance Coverage

Posted by David Hamilton on Sep 25, 2018 11:27:46 AM

Camera insurance Canada, gearWhen photography equipment is damaged or stolen what do you do? Ultimately your camera equipment insurance policy should provide the necessary coverage to replace your equipment; however it can take weeks, to get insurance claims paid out. So what do you do in the meantime?

If you intend to continue your business, you need to resume operations as quickly as possible, and that work requires new equipment.  Newly acquired equipment coverage provides reimbursement for any costs that you incur to replace gear that has been stolen or damaged. Newly acquired equipment coverage is not automatically included on a photographer insurance policy. Make sure your photography equipment insurance policy includes extra expense newly acquired equipment coverage.

Does your current policy provide this coverage?

Front Row now offers on line camera insurance: https://photographer.frontrowinsurance.com

Insure your gear for as low as $10 (plus a fee). Get a quote in 1 minute. A policy in 5 minutes. Worldwide coverage. Protect your gear against: theft, breakage, fire and more. Liability is also available.

Click now for a free, no obligation online quote:  https://photographer.frontrowinsurance.com

Topics: Camera Equipment Insurance, Photography Equipment Insurance, camera equipment insurance policy, Photographer Insurance Policy, Photography Equipment Insurance Policy

PHOTOGRAPHERS: YOU MAY NOT BE COVERED BY YOUR HOMEOWNERS POLICY!

Posted by David Hamilton on Aug 23, 2016 2:00:22 PM

PHOTOGRAPHERS: YOU MAY NOT BE COVERED BY YOUR HOMEOWNERS POLICY!


You arrive back at your apartment to find your door pried open and your photography gear missing. You take out your phone and call your insurance broker to report the claim under the homeowners policy that you purchased. An adjuster is assigned. The claims adjuster does a web search and sees that you have credits for various wedding shoots. Because you were hired and paid, your gear is now considered “commercial” equipment and as such, not covered by your homeowners policy, which is intended to cover “personal” photography gear that is not used for commercial purposes.

You tell the adjuster that you only worked  twice in the last 12 months for two weddings and made less than $300. The adjuster shrugs, "It doesn’t matter, even if you shoot a birthday party for 60 minutes for $50, you are a professional and your gear is  considered commercial and is no longer covered under a homeowners policy."

This is a difficult, pricey lesson that is better learned before there is a loss. Our experience tells us that many professionals assume they are covered by their homeowners insurance policy when in fact they are not.

If you use your gear to make money, check your insurance policy and make sure your coverage is appropriate. At Front Row we have created a 5 minute online insurance solution...

Available at: https://photographer.frontrowinsurance.com/

The policy term is for 12 months and coverage is available worldwide on a limited basis, or Canada/USA only.

All equipment is covered for replacement cost for:  theft, damage, fire and loss of use. Rental coverage is also available.

The online link ensures industry-low prices.

"We wanted to make the insurance process easier, faster and cheaper for photographers,” said David Hamilton, President of Front Row. “Given that there is no need to speak to a broker and an insurance company underwriter is not involved, the cost to process an online photography equipment policy is much less  and we have passed the savings onto the gear owner. Although the policy is online, we are still available to answer questions by email or over the phone if required.”

Topics: Camera Equipment Insurance, photography equipment, Photography Equipment Insurance, Online Photography Equipment Insurance, Photographer Insurance Policy

4 Questions to Consider when Buying Photography Business Insurance

Posted by David Hamilton on Mar 14, 2016 5:14:08 PM

Regardless of whether you are renewing or purchasing photography business insurance for the first time, you should consider the following to ensure the best price and protection:

1. What are the limits for your gear and liability?

Limits that are too high cost you unnecessary premium dollars. Have you updated your inventory of gear and determined a current replacement cost value? If your replacement cost value is higher than the limit on your policy, you are under-insured and should purchase a higher limit of coverage.

The minimum general liability coverage you should purchase is $1,000,000. The general liability will protect you from lawsuits that result from property damage or bodily injury that you, or your employees cause while shooting. The liability policy will pay the legal costs for your lawyer and the judgement costs up to the liability limit that you purchased.

Will your current liability policy provide enough protection if you end up in court defending a lawsuit from  camera insurancewell-paid programmer’s husband after you permanently disabled her when your pelican lens case was knocked off your rooftop shooting location onto the sidewalk below? A programmer that is 40 years old making $200,000 a year could sue for 20 lost years of future earnings – or $4,000,000.  Additional limits of  liability coverage typically go down in cost for each million over 1 million that you purchase. For instance, The Front Row Insurance online photographers program prices general liability for photographers as follows: $160 for 1mil, $215 for 2mil, $370 for 5mil.

2. Is the process to buy the coverage you need fast and simple to understand?

Is there an online option that asks for only necessary information in a clickable format? Are the drop down boxes that explain the coverage clear and comprehensive?  There should be no need to scan paper applications back and forth.

At Front Row we have created an 5 minute on line insurance solution.

Available to Canadian photographers Learn more

The policy term is for 12 months and coverage is available in most countries worldwide except those subject to trade restrictions. Or, for a lower premium, you can choose Canada/USA only coverage.

Rental equipment coverage is also available. All equipment is covered for replacement cost for:  theft, damage, fire and loss of use. 

3. Does my gear policy include any enhancements such as office contents coverage or Portfolio coverage?

 

Front Row

Other Programs

Optional Worldwide Equipment Coverage Territory

Yes

Yes

Automatic $10,000 Office Contents Coverage + $5,000 in Laptop Coverage

Yes

Extra Charge

$15,000 of Money & Securities

Yes

No

$10,000 of coverage for newly acquired equipment for up to 30-days

Yes

Yes

Coverage for Earthquake & Flood included up to your full Equipment Values

Yes

No

$7,500 of Library Stock ("Portfolio") Coverage

Yes

No


4. What do I have to do to make a claim?

You have the coverage and now all your equipment has been stolen. Should you call the broker or the insurance company when you first hear about a claim? Call the broker.

Claims Reporting Procedures

  • All claims should report the following: Date of Loss, Description of Loss, Names and phone numbers of persons to be contacted.
  • All incidences should be reported promptly. If you are not sure there is coverage, call your broker.

Is it possible to take immediate action to make repairs if further damage to the property is likely?

As long as the claim is covered, the reasonable cost of temporary repairs made to prevent further damage is money well-spent and, therefore, reimbursable, subject to all policy terms and conditions. Documentation in the form of bills, receipts and photographs should be retained in order to verify damages and repair costs.

About: Front Row Insurance Brokers Inc. is an independent  insurance broker that works on behalf of the Canadian arts and entertainment industry to provide insurance for the lowest possible cost. Should a claim occur, Front Row ensures that clients receive the money they are owed per the insurance policy, as quickly as possible. Front Row has offices in Vancouver, Toronto, Montreal, Nashville and Los Angeles.

Topics: Photography Equipment Insurance, photography insurance, Photographer Insurance Policy, Photography Equipment Insurance Policy