Patrons Insurance Agency, Inc. Blog

Are you a shutterbug? Do you take photos of absolutely everything your family does and all the places you go? Have you invested lots of money into your DSLR and equipment to go with it? Our camera's are very important to us and losing one due to damage would be awful, especially if it's part of your livelihood.

Photography is among one of most popular hobbies. Coverage for such a hobby can be problematic for a couple of reasons. Typically a person who owns a significant amount of photography equipment may depend upon their Homeowners policy to provide protection. However, this is a poor alternative. Unless the coverage has been modified, an HO policy only provides a modest amount of coverage (around $1,000) and no protection applies if the equipment is used for a business reason. The best coverage option may be a camera floater policy.

The Camera Floater insures photography equipment against loss or destruction. Camera Floater insurance indemnifies the insured for loss or damage to scheduled property for all risk of physical loss. The policy applies to property of the insured or property of others in the custody or control of the insured while that property is located anywhere in the world.

Coverage extends to cameras, projection machines and accessories, lighting equipment, carrying/storage cases, motion picture equipment, sound, recording and playback accessories, home video cameras, playback recorders, and similar property (binoculars, telescopes, microscopes) etc.

The policy may not be used to cover: television cameras and equipment; coin or token operated devices; cameras or other camera property for the benefit of dealers or manufacturers; aerial cameras or radar cameras. The Camera Floater does not insure against loss or damage caused by wear and tear, gradual deterioration, insects, vermin, and inherent vice.

As is the case with other types of insurance policies, a loss creates obligations for both the insurer and the insured. The property owner must quickly report claims involving scheduled cameras. When a loss is reported and substantiated, the insurance company then has a given amount of time to reimburse the loss.

While floater coverage is a good way to protect such property, there are still many instances that don’t qualify for coverage such as business activity involving the following: