Insurance for camera worth it?

Started Apr 25, 2012 | Discussions thread
kb2zuz
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Re: Yep, personal items policy
In reply to iwannabesedated, Apr 28, 2012

Usually a typical home owners policy will not by default cover repair/maintenance issues that were not caused by accidents or theft. However, it is best to speak to your insurance company, they may offer an additional rider that would provide such coverage and if they do that would likely be much cheaper than the extended warrantee most stores offer. It depends on what ends up being replaced too. Many repairs might only be $300 or so, in which case it might cost slightly less than a $350 3 year warrantee (and there's only a chance you'd need repairs so you might save the entire $350). Now there are some repairs that cost a bit more, a shutter might cost $500 or $600. Shutters are often "rated" for a certain number of exposures (often 150,000-300,000) while that number is not a guarantee, if your shutter goes after the warrantee has expired but you have only shot around 50,000 shots on it, they may offer significantly discounted (and I've even heard of one or two people getting free) repair service. Now if you know you shoot over 2,500 shots a week, every week, then the extended warentee might make sense because the likelihood of you breaking the shutter is more likely (again I'd first see if your personal or business insurance policy could add a rider as it would be cheaper.) It's all risk assessment and what you need is different that what I need. Also worth noting, some credit cards will automatically extend the warranty of such purchases.

Finally I'll point out that most cases of repairs needed coincide with some type of damage. Even if the shutter goes it could be argued that it was put down a little too hard the time before. I've heard stories of people who have had accidental damage and theft insurance on electronic devices and if they went bad, just happened to drop it on the floor while trying to get it to work again, at which point it was the insurance company's problem. (I have not done this myself, just sayin')
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~K

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