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Author Topic: gear insurance for Canadians at home and abroad  (Read 3581 times)
Jim Gronau
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« on: March 06, 2011, 11:53:53 AM »
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Seems like it's been a while since this question has been raised here.  Previous discussion hasn't been very encouraging; hopefully the situation is better now?

I do landscape and landscapish photography in Toronto, where I live, and elsewhere around Ontario (sometimes in canoes), and am planning a trip to the Caribbean (on a small boat).  I'd be a lot more relaxed about all this if I had some insurance on my gear.  So:

Does anybody know of / have experience with insurance for Canadian photographers' gear, particularly landscape photographers?  Any info would be welcome - good experiences, bad experiences, rates, coverage, limitations, etc.

Thanks!
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AlexM
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« Reply #1 on: March 07, 2011, 12:01:08 AM »
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Hi Jim,
I did a research on this topic about a year ago and found a not well known company that does it but the minimum premium they ask was 1000+ a year. I couldn't find any feedback on them either. For this money I decided I will insure my gear myself... I don't really remember the company name, but if you need I might be able to find the contacts.

Alex
« Last Edit: March 07, 2011, 12:11:53 AM by Oleksiy » Logged

Jim Gronau
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« Reply #2 on: March 07, 2011, 08:32:05 AM »
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Thanks Alex!  Yes, several people have told me now that this is a costly proposition.  So is replacing a camera, though . . .

A couple of questions, if you don't mind:

1) was the company you found http://www.cgbgroup.com/ by any chance?  I was referred to this firm by pm.  I'm going to get in touch with them.  Meanwhile, if anybody has info about them, that would be much appreciated.

2) when you say you decided to insure your gear yourself, do you mean you decided to just take your chances and pay for any repair or replacement that needs to be done?

Many thanks!

Jim
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Jim Gronau
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« Reply #3 on: March 08, 2011, 04:03:19 PM »
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I just spoke with Louise Jones, of CG&B Group.  For an annual premium of $750 (plus tax), they cover up to $25,000 worth of your own gear that you carry around, plus up to $10,000 worth of rented gear, $2 million liability, $25,000 worth of stuff in your studio, and $25,000 worth of computer equipment.  World-wide is not a problem, unless you actually set up residence outside of Canada.  Deductible is $1,000, except if you leave your stuff unattended in a vehicle, in which case it's $2,500 (I think - I'm not sure I wrote that last number down right).
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AlexM
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« Reply #4 on: March 09, 2011, 12:52:03 PM »
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Hi Jim,
it was Cooks ISI Insurance and the premium was for 40K+ in equipment, the rest of the coverage is similar to what you've described plus they insure your annual income. They won't change the package, so it's everything or nothing.

Your numbers sound not bad. I will have a look into them when I upgrade my gear. I don't travel much right now and just relatively careful with the equipment Smiley
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buckshot
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« Reply #5 on: March 09, 2011, 01:48:02 PM »
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Hi Jim,
it was Cooks ISI Insurance and the premium was for 40K+ in equipment, the rest of the coverage is similar to what you've described plus they insure your annual income. They won't change the package, so it's everything or nothing.

Your numbers sound not bad. I will have a look into them when I upgrade my gear. I don't travel much right now and just relatively careful with the equipment Smiley

Aren't Cooks in Saskatchewan? Will they insure in Ontario - or any of the other Provinces?
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AlexM
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« Reply #6 on: March 10, 2011, 04:00:58 PM »
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Aren't Cooks in Saskatchewan? Will they insure in Ontario - or any of the other Provinces?

They are and they will.
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Luca Ragogna
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« Reply #7 on: May 30, 2011, 02:50:47 PM »
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I've got my business insurance through State Farm. They cover my gear and give me liability insurance. They will not however, cover errors and omissions, which is why they're so much cheaper than going through some of the other companies.
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Mr_Bunburry
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« Reply #8 on: June 11, 2011, 04:41:26 PM »
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I need insurance as well, and got a quote from my State Farm agent months ago. About $500 for $40K of gear that goes out and about and another $350 for personal liability, $1000 deductible if I remember correctly (that's in Alberta).

My family has used State Farm for home and auto insurance for decades and in those areas they are a fantastic when it comes time to make a claim.  Which is a serious consideration.
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Michael
Harold Clark
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« Reply #9 on: June 13, 2011, 04:53:49 PM »
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I need insurance as well, and got a quote from my State Farm agent months ago. About $500 for $40K of gear that goes out and about and another $350 for personal liability, $1000 deductible if I remember correctly (that's in Alberta).

My family has used State Farm for home and auto insurance for decades and in those areas they are a fantastic when it comes time to make a claim.  Which is a serious consideration.


Our family has been with State Farm for decades re house & car insurance, I remember as a kid my uncle ( our agent ) discussing life insurance coverage with my Dad, and that if he or "the wife" got "bumped off" there would be a payout. 

Every time renewal rolls around for camera insurance the story has always been that they don't provide replacement value insurance, instead depreciated value only. Do you know whether this quote was for replacement value?

State Farm have some quirks, they don't insure houses in NFLD for instance, I don't know whether they have Provincial restrictions on bumped off insurance either.
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Mr_Bunburry
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« Reply #10 on: June 13, 2011, 06:24:49 PM »
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Hmm good question. I was asked to provide a list of equipment and "replacement" cost for each item when he was getting my quote.  Certainly something to double check. Thanks!
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Michael
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« Reply #11 on: June 14, 2011, 11:47:58 AM »
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Good thread and good information.  Cooks looks like a viable option.  I've been looking for something more reasonable cost-wise for a while.

For non-professionals, you can get a rider on your homeowner's or renter's policy that will cover camera gear.  The cost isn't much at all. 
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Mr_Bunburry
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« Reply #12 on: July 13, 2011, 10:07:27 PM »
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Still searching for insurance but got an update from my State Farm rep. Insurance from State Farm for camera gear is full replacement value. They want full description, serial number,  date of purchase and price paid. Computers and the like can be covered without all the documentation. The cost of insurance is $1.65/$100 coverage.

Personal liability insurance of 2mil, is $323/year.
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Michael
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« Reply #13 on: July 13, 2011, 10:22:43 PM »
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Is that cover for commercial use of your equipment? Do they cover gear stolen from an unattended vehicle?
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Mr_Bunburry
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« Reply #14 on: July 13, 2011, 11:13:40 PM »
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It is for commercial use, and there is no mention of not covering it in an unattended vehicle.
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Michael
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« Reply #15 on: July 14, 2011, 08:45:12 AM »
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Thanks. Worth checking out the unattended vehicle coverage - I've been caught out before by that. Also, check if they restrictions as to the sort of vehicle it is. I had a policy for a few years that stated unattended vehicle coverage was included (up to a maximum limit) but only of the car had a fully enclosed and lockable trunk - so no hatchbacks, station wagons, SUVs etc. I guess they assume we all drive around in Cadillacs.
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Harold Clark
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« Reply #16 on: July 14, 2011, 10:26:22 AM »
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Thanks. Worth checking out the unattended vehicle coverage - I've been caught out before by that. Also, check if they restrictions as to the sort of vehicle it is. I had a policy for a few years that stated unattended vehicle coverage was included (up to a maximum limit) but only of the car had a fully enclosed and lockable trunk - so no hatchbacks, station wagons, SUVs etc. I guess they assume we all drive around in Cadillacs.

Also check on clauses relating to visible signs of forced entry. If a window is smashed you are covered, but if the thief uses a slim jim or electronic device to open the door you may be out of luck.  Incidentally I just got a quote from my State Farm agent, despite policies for my house, two cars and a commercial property with them they were still 25% higher than my current independent provider.
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