Insurance

[jpd300]

I am going to take out camera insurance looking at aaduki and imaging insurance at the moment.

My question is what price do you value your equipment at, do you put down the price you paid for it new or the cost of the equipment now, things are more expensive now.

And I bought some of my equipment second hand do I put down the price what I paid for it or a rough second hand value of replacing it.

Thanks

 

[jon ryan]

First question is: Does your existing household insurance cover you? Many policies will give enough cover - even on holiday - for many people. You may have to tell them if you have, say, individual lenses or bodies worth £1,500 or above, but many policies will give per-item cover up to around this figure (less an excess). If you go in for caving or yachting or similar excitements they will want to know in advance.

New-for-old is quite common, and worth getting. I know someone who had a 5D killed when they were caught by a wave. As the 5D was by then no longer in production, it was replaced with a 5D mkII - nice result!

Actual value will be determined by current market value unless it is vintage kit, when you will probably have to agree a figure with them.

 

[neil_g]

for photoguard i put down the cost to replace the kit, i.e. to replace my 20D i have the cost of a 40D, the 1Dmk3 has the cost of a good 2nd hand one etc.

 

[AboveFunction]

I'm covered under home insurance if anything should happen to it, the excess is pretty cheap on this as well.

It's worth checking (or changing your home insurance, i think I'm with tesco)

 

[neil_g]

although if you do any paid work your home insurance will not cover you (plus normally you wont have liability cover etc).

 

[jpd300]

I do some paid work and need liability so house insurance wont do.

Thanks all

 

[neil_g]

I do some paid work and need liability so house insurance wont do.

Thanks all

in that case i find photoguard pretty good.

 

[alastairb]

for photoguard i put down the cost to replace the kit, i.e. to replace my 20D i have the cost of a 40D, the 1Dmk3 has the cost of a good 2nd hand one etc.

FYI i dont think that would cover you, from my experience claiming they only let you buy new, so your 20D should be valued as a 60D and your 1d3 as a 1d4

 

[neil_g]

FYI i dont think that would cover you, from my experience claiming they only let you buy new, so your 20D should be valued as a 60D and your 1d3 as a 1d4

hmm you might have a point regarding the 1D, but im reading it as the cost that item would normally cost new.

so i think they mean 20D RRP etc?

 

[alastairb]

it should be valued as what it would cost to replace with a similar item, as you cant buy a 20d new anymore this would be a 60d

 

[Craikeybaby]

I asked Aaduki this question earlier on, with them you can either choose to cover your kit for the cost of the new equivalent or if you are covering it at second hand value you need to tell them that is what you are doing, but if you do make a claim it could take longer as they will have to find a secondhand replacement that both parties agree on.