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What my insurance agent told me...

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Kimberly85208

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I called my homeowner's insurance agent this morning and asked if my camera was covered in case of fire or if it got stolen. He told me yes, up to $5000. This was nice to hear, eased my mind a little considering all the money I'm putting into it. I also asked if it would be covered if it was stolen out of my car, and he said yes to that too. He told me that he had someone who took his camera skiing, dropped it from the ski lift and lost it. He said that the insurance company covered that too. He did ask if I used my camera for work, but I don't. I guess they wouldn't cover it if I did.

On another note, he told me that since I have a digital camera (no discrimination here!), that I should go around the house and take pictures of EVERYTHING. He said that in case of a serious fire, this not only shows proof, but helps you remember what you had since nobody can remember everything.

Just thought some of you might be interested in this, you might want to call your homeowner's insurance to verify that yours covers it too.

--
--Kimberly--
I was raised by a pack of wild corn dogs...
My gallery: http://www.pbase.com/kimberlybrummitt
 
Great advice! I did this too. On an another note, don't ferget to upload yer pictures of yer property to pbase or similar photo album site. Except for those of you that sleep with your computer ;-)

Hey don't laugh, laptops make GREAT flashlights...
Kimberly said:
On another note, he told me that since I have a digital camera (no
discrimination here!), that I should go around the house and take
pictures of EVERYTHING. He said that in case of a serious fire,
this not only shows proof, but helps you remember what you had
since nobody can remember everything.
--Kimberly--
I was raised by a pack of wild corn dogs...
My gallery: http://www.pbase.com/kimberlybrummitt
Click to expand...
--
David

My galleries
http://www.imagestation.com/album/?id=4292111925
http://www.imagestation.com/album/?id=4292056545
 
Good info. Thanks. I've been told by my insurance agent to use a video camera instead of a still camera to document belongings, sice it captures everything in it's path and not just what you deliberately took photos of.

Erik
 
dave lines said:
wish my ins. agent told me the same thing,,, he said that mine was
covered if it was at home,,, not off the property, checked on my
car ins. not covered there either,, can't even add it to either of
them,, looking for new ins. now,
DAve
--
Look,, you might see something worth shooting:
http://www.pbase.com/daveor/oregon&browse=Y
http://members2.clubphoto.com/dave193058
Click to expand...
--

Im a police officer and was told my camera and laptop used at work is NOT covered. but for 7 bucks a year... they would? thats VERY cheap so i got it
 
You should ask if your insurance company can add a personal articles floater to your homeowner's policy. This would cover the camera no matter where it is, with very few exclusions such as war, civil war and insurrection, nuclear incident and so on. Plus they will pay the value declared on the policy (usually your purchase price or appraised value). Often normal homeowner's policies will depreciate the value or will only pay the cost to replace it for like kind and quality, which in a year may be far less than you paid for it.

I have most of my valuable personal property covered this way, and my insuror has paid in full for some unusual losses. such as when I tripped and fell and ruined the lens on my S75, when a carpet was washed improperly by a Turkish company, paintings damaged in transit, and a ring stolen by a moving company employee.

I think everyone who owns cameras as nice as ours should be covered this way; we really have a lot of money invested in our equipment.

Helen
dave lines said:
wish my ins. agent told me the same thing,,, he said that mine was
covered if it was at home,,, not off the property, checked on my
car ins. not covered there either,, can't even add it to either of
them,, looking for new ins. now,
DAve
--
Look,, you might see something worth shooting:
http://www.pbase.com/daveor/oregon&browse=Y
http://members2.clubphoto.com/dave193058
Click to expand...
--
Helen
---
http://community.webshots.com/user/helenpb_
http://pbase.com/helenpb
http://www.photosig.com/userphotos.php?id=2456
 
Kimberly said:
I called my homeowner's insurance agent this morning and asked if my camera was covered.
Click to expand...
What he should have said is that you get all perils coverage (including dropping off a boat) for your camera if it is scheduled on a personal articles floater. ThisI highly recommend for all cameras. Otherwise your coverage is quite limited. I happen to be an insurance professor and new 707 owner. Joseph
Kimberly85208 said:
--
--Kimberly--
I was raised by a pack of wild corn dogs...
My gallery: http://www.pbase.com/kimberlybrummitt
Click to expand...
--
Joe Launie
 
What about your deductible? Is it still covered if you have say, $1,000 deductible on your policy and that is the only thing that is stolen?

Just something to think about.

DeeDee G.
Kimberly said:
I called my homeowner's insurance agent this morning and asked if
my camera was covered in case of fire or if it got stolen. He told
me yes, up to $5000. This was nice to hear, eased my mind a little
considering all the money I'm putting into it. I also asked if it
would be covered if it was stolen out of my car, and he said yes to
that too. He told me that he had someone who took his camera
skiing, dropped it from the ski lift and lost it. He said that the
insurance company covered that too. He did ask if I used my camera
for work, but I don't. I guess they wouldn't cover it if I did.

On another note, he told me that since I have a digital camera (no
discrimination here!), that I should go around the house and take
pictures of EVERYTHING. He said that in case of a serious fire,
this not only shows proof, but helps you remember what you had
since nobody can remember everything.

Just thought some of you might be interested in this, you might
want to call your homeowner's insurance to verify that yours covers
it too.

--
--Kimberly--
I was raised by a pack of wild corn dogs...
My gallery: http://www.pbase.com/kimberlybrummitt
Click to expand...
--
DeeDee G.
http://www.pbase.com/deedee_g/root
 
DeeDee G. said:
The personal articles floater is usually unaffected by the deductible on the rest of the policy (another reason to get one)
Kimberly said:
I called my homeowner's insurance agent this morning and asked if
my camera was covered in case of fire or if it got stolen. He told
me yes, up to $5000. This was nice to hear, eased my mind a little
considering all the money I'm putting into it. I also asked if it
would be covered if it was stolen out of my car, and he said yes to
that too. He told me that he had someone who took his camera
skiing, dropped it from the ski lift and lost it. He said that the
insurance company covered that too. He did ask if I used my camera
for work, but I don't. I guess they wouldn't cover it if I did.

On another note, he told me that since I have a digital camera (no
discrimination here!), that I should go around the house and take
pictures of EVERYTHING. He said that in case of a serious fire,
this not only shows proof, but helps you remember what you had
since nobody can remember everything.

Just thought some of you might be interested in this, you might
want to call your homeowner's insurance to verify that yours covers
it too.

--
--Kimberly--
I was raised by a pack of wild corn dogs...
My gallery: http://www.pbase.com/kimberlybrummitt
Click to expand...
--
DeeDee G.
http://www.pbase.com/deedee_g/root
Click to expand...
--
Joe Launie
 
Hi Joe,

I was interested to see that we both recommended the same thing on this thread. Where are you an insurance professor? I was in insurance for about 18 years in a previous life (multi-line U/W, intl. manager, then broker for MM subsidiary, CPCU etc.). I've left that behind, thankfully, but it's always nice to hear from someone in the industry.

Helen
Joe Launie said:
Kimberly said:
I called my homeowner's insurance agent this morning and asked if my camera was covered.
Click to expand...
What he should have said is that you get all perils coverage
(including dropping off a boat) for your camera if it is scheduled
on a personal articles floater. ThisI highly recommend for all
cameras. Otherwise your coverage is quite limited. I happen to be
an insurance professor and new 707 owner. Joseph
Joe Launie said:
--
--Kimberly--
I was raised by a pack of wild corn dogs...
My gallery: http://www.pbase.com/kimberlybrummitt
Click to expand...
--
Joe Launie
Click to expand...
--
Helen
---
http://community.webshots.com/user/helenpb_
http://pbase.com/helenpb
http://www.photosig.com/userphotos.php?id=2456
 
Joes writes, "The personal articles floater is usually unaffected by the deductible on the rest of the policy (another reason to get one)"

Thanks Joe! That's good to know.

D.
Joe Launie said:
DeeDee G. said:
The personal articles floater is usually unaffected by the deductible on the rest of the policy (another reason to get one)
Kimberly said:
I called my homeowner's insurance agent this morning and asked if
my camera was covered in case of fire or if it got stolen. He told
me yes, up to $5000. This was nice to hear, eased my mind a little
considering all the money I'm putting into it. I also asked if it
would be covered if it was stolen out of my car, and he said yes to
that too. He told me that he had someone who took his camera
skiing, dropped it from the ski lift and lost it. He said that the
insurance company covered that too. He did ask if I used my camera
for work, but I don't. I guess they wouldn't cover it if I did.

On another note, he told me that since I have a digital camera (no
discrimination here!), that I should go around the house and take
pictures of EVERYTHING. He said that in case of a serious fire,
this not only shows proof, but helps you remember what you had
since nobody can remember everything.

Just thought some of you might be interested in this, you might
want to call your homeowner's insurance to verify that yours covers
it too.

--
--Kimberly--
I was raised by a pack of wild corn dogs...
My gallery: http://www.pbase.com/kimberlybrummitt
Click to expand...
--
DeeDee G.
http://www.pbase.com/deedee_g/root
Click to expand...
--
Joe Launie
Click to expand...
--
DeeDee G.
http://www.pbase.com/deedee_g/root
 
I recently got exactly what Joe said. I insured it for $1000 and it was an additional $17 per year on my policy. No deductible if you have to make a claim. The only downside I could see is that I get a 10% on my homeowners because I have never had a claim. Should I have one, including a claim on my 707 I lose the 10% discount for the next three years.
Joe Launie said:
Kimberly said:
I called my homeowner's insurance agent this morning and asked if my camera was covered.
Click to expand...
What he should have said is that you get all perils coverage
(including dropping off a boat) for your camera if it is scheduled
on a personal articles floater. ThisI highly recommend for all
cameras. Otherwise your coverage is quite limited. I happen to be
an insurance professor and new 707 owner. Joseph
Joe Launie said:
--
--Kimberly--
I was raised by a pack of wild corn dogs...
My gallery: http://www.pbase.com/kimberlybrummitt
Click to expand...
--
Joe Launie
Click to expand...
 
Marsha,

Do you know what was added to your policy or what it was called for the additional $1000 in coverage?

Thanks...Ron
Marsha W. said:
Joe Launie said:
Kimberly said:
I called my homeowner's insurance agent this morning and asked if my camera was covered.
Click to expand...
What he should have said is that you get all perils coverage
(including dropping off a boat) for your camera if it is scheduled
on a personal articles floater. ThisI highly recommend for all
cameras. Otherwise your coverage is quite limited. I happen to be
an insurance professor and new 707 owner. Joseph
fotogirl said:
--
--Kimberly--
I was raised by a pack of wild corn dogs...
My gallery: http://www.pbase.com/kimberlybrummitt
Click to expand...
--
Joe Launie
Click to expand...
Click to expand...
 
Ron,

Quoting Joe's earlier thread:

What he should have said is that you get all perils coverage (including dropping off a boat) for your camera if it is scheduled on a personal articles floater. ThisI highly recommend for all cameras. Otherwise your coverage is quite limited. I happen to be an insurance professor and new 707 owner. Joseph

I think that is what my agent called it --- all perils coverage. It has to be scheduled - which for me meant sending them a copy of the receipt, serial # and I sent copies of a couple of store's adds, Sears and Circuit City, showing the cost of the camera to actually be $999.99 even though I paid considerably less at Sears. I insured it for $1000.

Hope this helps.

Marsha
Ronald Millstein said:
Do you know what was added to your policy or what it was called for
the additional $1000 in coverage?

Thanks...Ron
Marsha W. said:
Joe Launie said:
Kimberly said:
I called my homeowner's insurance agent this morning and asked if my camera was covered.
Click to expand...
What he should have said is that you get all perils coverage
(including dropping off a boat) for your camera if it is scheduled
on a personal articles floater. ThisI highly recommend for all
cameras. Otherwise your coverage is quite limited. I happen to be
an insurance professor and new 707 owner. Joseph
Ronone6 said:
--
--Kimberly--
I was raised by a pack of wild corn dogs...
My gallery: http://www.pbase.com/kimberlybrummitt
Click to expand...
--
Joe Launie
Click to expand...
Click to expand...
Click to expand...
 
Helen Betts said:
Hi Joe,

I was interested to see that we both recommended the same thing on
this thread. Where are you an insurance professor? I was in
insurance for about 18 years in a previous life (multi-line U/W,
intl. manager, then broker for MM subsidiary, CPCU etc.). I've left
that behind, thankfully, but it's always nice to hear from someone
in the industry.

Helen
Click to expand...
I put in many years at Calif State U, Northridge, have done a bit of writing including for the CPCU. Now consultiing in underwriting and learning to use my new f707. As a sailboat racer there are great images out there if only I can capture them. Joe
Member said:
Joe Launie said:
Member said:
My gallery: http://www.pbase.com/kimberlybrummitt
Click to expand...
--
Joe Launie
Click to expand...
--
Helen
---
http://community.webshots.com/user/helenpb_
http://pbase.com/helenpb
http://www.photosig.com/userphotos.php?id=2456
Click to expand...
--
Joe Launie
 
Marsha,

Thanks for the information. The reason why I asked about what coverage you purchased is because I didn't realize your insurance company had this type of coverage. I know you can schedule personal property like you did, but I was under the impression that if there was a loss, you will only be paid based on actual cash value. Which is the replacement value minus depreciation. So, if someone stole your camera, the most you will be paid is the cost of buying a new one minus how old it is. If your agent told you otherwise, then forgive my ignorance. If I could make one suggestion, have the agent show you where on the schedule personal property endorsement exactly how the claim is to be settled.

I too am in the insurance profession and have been for 18 years. Joe's comments are accurate regarding the "All Risk" coverage under a rider or schedule personal property (SPP), which is what you have. Your regular homeowner policy covers contents on a Name Peril basis. The policy names what type of perils (losses) it will cover. Theft is one of them. Loss settlement is normally on a replacement cost basis, which is the best you can get. I don't have a rider nor SPP because my company only offers them on an actual cash value basis. But, I don't see getting one at this time.

I hope I didn't confuse you. I am very interested in hearing what your agent has to say. I hope I am all wrong. There are still many things to learn about insurance even after 18 years.

Thanks...Ron
Marsha W. said:
Quoting Joe's earlier thread:

What he should have said is that you get all perils coverage
(including dropping off a boat) for your camera if it is scheduled
on a personal articles floater. ThisI highly recommend for all
cameras. Otherwise your coverage is quite limited. I happen to be
an insurance professor and new 707 owner. Joseph

I think that is what my agent called it --- all perils coverage.
It has to be scheduled - which for me meant sending them a copy of
the receipt, serial # and I sent copies of a couple of store's
adds, Sears and Circuit City, showing the cost of the camera to
actually be $999.99 even though I paid considerably less at Sears.
I insured it for $1000.

Hope this helps.

Marsha
Ronald Millstein said:
Do you know what was added to your policy or what it was called for
the additional $1000 in coverage?

Thanks...Ron
Marsha W. said:
Joe Launie said:
Kimberly said:
I called my homeowner's insurance agent this morning and asked if my camera was covered.
Click to expand...
What he should have said is that you get all perils coverage
(including dropping off a boat) for your camera if it is scheduled
on a personal articles floater. ThisI highly recommend for all
cameras. Otherwise your coverage is quite limited. I happen to be
an insurance professor and new 707 owner. Joseph
fotogirl said:
--
--Kimberly--
I was raised by a pack of wild corn dogs...
My gallery: http://www.pbase.com/kimberlybrummitt
Click to expand...
--
Joe Launie
Click to expand...
Click to expand...
Click to expand...
Click to expand...
 
Hi Joe,

I am also in the insurance professon for 18 years (personal lines Undewriting/Product Mangement) and want to add a comment regarding the information you have passed along. I agreed with everything you have said about the attractiveness of adding a rider, floater or scheduling to provide additional protection for a camera. One point I want to add is that the loss settlement is either on a replacement cost or actual cash value (ACV). It all depends on the type of form a company uses. This is one thing the property owner must check with their insurance agent or company. Have the agent point out on the contract how they are going to pay you in case of a loss. As you know, this can disadvantage someone who didn't realize that after owning a camera for 3 years, it gets stolen and the insurance company doesn't give you what you paid for it, $1,000 but only $500 because they deducted for the obsolecence of the camera (ACV).

Just my $.02 worth....

Ron
Joe Launie said:
Helen Betts said:
Hi Joe,

I was interested to see that we both recommended the same thing on
this thread. Where are you an insurance professor? I was in
insurance for about 18 years in a previous life (multi-line U/W,
intl. manager, then broker for MM subsidiary, CPCU etc.). I've left
that behind, thankfully, but it's always nice to hear from someone
in the industry.

Helen
Click to expand...
I put in many years at Calif State U, Northridge, have done a bit
of writing including for the CPCU. Now consultiing in underwriting
and learning to use my new f707. As a sailboat racer there are
great images out there if only I can capture them. Joe
Joe Launie said:
Joe Launie said:
Joe Launie said:
My gallery: http://www.pbase.com/kimberlybrummitt
Click to expand...
--
Joe Launie
Click to expand...
--
Helen
---
http://community.webshots.com/user/helenpb_
http://pbase.com/helenpb
http://www.photosig.com/userphotos.php?id=2456
Click to expand...
--
Joe Launie
Click to expand...
 
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