Insurance - any recommendations

[andrmash]

Never really thought too much about it but a few reasons to reevaluate:

>what I've bought has been a slow process - mostly online classifieds, replacing the same way would be painful
>Never flown with what I have but will be going to JHB soon
>would like to feel comfortable going to less than safe areas and not worry too much about getting mugged.

this is personal gear not 'owned' by a business or anything

How do you insure your gear? put it on the homeowners policy, specialised policy, etc

Thoughts suggestions welcome, thanks

 

[DylanS]

Hey andrmash, you will insure it under the allrisks section of your policy ( Outsurance have it as out and about), basically it covers your equipment for theft, loss and damage.

 

[andrmash]

OK thanks for the advice, got a quote from insurers - specified items under allrisk - not as high as I thought..

 

[fvdbergh]

Just take care with "all risks" insurance. For example, if your camera equipment was locked in the boot of your car, and someone forcibly broke into your car (broken locks, etc), then you will be covered.

If, on the other hand, you had your camera bag stowed at your feet while having a coffee at a coffee shop, and someone swiped the bag without you noticing immediately, then you may be in for a surprise. Of course, this depends on what exactly your insurance policy says about this matter.

My point is just that even though they say you are covered against theft, you have to be able to prove that it was not due to your own negligence. Not exactly what most people would think "all risks" meant. Also note that "all risks" usually only covers South Africa.

I would actually like to hear what other options are available specifically for camera gear, both locally and when traveling abroad.

 

[Sinbad]

All risks means just that- all risks.
I dropped my camera into the sea... New camera.

 

[DylanS]

Ya all risks includes you losing your equipment, the trick to getting the most out your insurance is reading the policy wording...I work in insurance haha

 

[fvdbergh]

All risks means just that- all risks.
I dropped my camera into the sea... New camera.

Yes --- but "all risks" actually means "all risks except those explicitly excluded in the policy". For example, my policy covers accidental damage (like your underwater camera experiment), but it specifically excludes theft from vehicles unless there is proof of forced entry.

They even specify that theft is not covered from my house (even on specified all risk items!) unless my specified security measures (i.e., alarm) are activated. Not sure what they do if my camera is stolen from some else's house, though.

It is all rather bizarre if you ask me. I can "accidentally" destroy my camera, and claim successfully, but if the camera is stolen (and the alarm was off), then I cannot claim.

Maybe my insurer is not the best one for camera equipment, which is why I would be interested to hear what insurance other people are using. But my warning remains valid: your insurer may have some exclusions listed in the long version of your policy documentation, so check first ...

 

[andrmash]

the specific wording is as follows - also mentions theft from boot - and not covered on my premisies unless forcible entry can be proved?, what looks to be the important part is that they are under specified items:

• If the Camera & Accessories are not specified and stolen from your Home with no visible/ forceful break-in there will be no cover under Section Home Contents.
• If the Camera & Accessories are specified and stolen, damaged or lost in whichever area then you will have cover for Accidental damage as well.
• If the Camera & Accessories are not specified and stolen from your car (specifically out of your boot) then a “boot closet” apply which means that only a certain amount will be payable and not the whole amount. i.e. Camera worth R50 000 but only R10 000 will be payable due to the ‘boot closet’ condition
• If the Camera & Accessories are specified and stolen from your car then the claim will be considered according to the merits i.e. you left the camera under the seat or in the boot or just on the seat in the back…
• If the Camera & Accessories is specified and stolen from yourself or <name> then it will be covered – if not specified then No Cover.
• Accidental Damage on Home Contents only include Mirror’s (such as a wall-unit), Glasses, TV’s

so R122 from cover of about R50k sound reasonable? (A&G) ? guess you only ever really know when you have to claim...

 

[fvdbergh]

• If the Camera & Accessories are specified and stolen, damaged or lost in whichever area then you will have cover for Accidental damage as well.

The above clause sounds good, I just wonder how they prioritize these exclusions, i.e., does "stolen from back seat of car" override "stolen, damaged or lost in whichever area" ?

You seem to be getting a good price --- R409 cover per R per month, I only get R267 cover per R per month.

But at I have had prior claims with my insurer, and they were excellent (and I have no excess).

 

[Hemi300c]

If you earn any money from the items PLEASE be aware that this needs to be declaired to the insurer as they might then exclude cover on a Personal policy and insist that this be covered under a business policy. You'll pay premiums for no cover in other words.

Also make sure you are very clear on the items and serial numbers you want insured.

All risks is the correct section (personal or business)

 

[pjjdp]

I changed from Santam to MF and during the notice month our digital camera got stolen on the beach. Santam paid, no questions asked under all risks. Used the cash and added a bit extra and bought a DSLR.

So yes, it's very good to have.