Insurance for your Camera Equipment
A professional photographer should strongly consider taking out a photography insurance policy. If you are earning a living off your camera, we recommend at least getting an insurance quote. Besides professional photographers, if you own a high-end camera and you want to protect it, get a quote to find out if it fits into your budget. Taking out an insurance policy on your camera equipment is not for everyone. We don’t generally recommend it for freelancers, amateurs unless they have a significant amount of money tied up in that equipment.
Photographic equipment insurance is similar to television insurance; generally, it’s advised to not insure your television. Technology is rapidly changing, and the life expectancy of both are rising because of advances. Technology is raising both the life expectancy, size, weight, and quality of our electronics. If something were to happen to your camera, having an insurance policy to protect your equipment gives you financial protection. In this article, we are going into more depth about who should consider photography insurance.
Who should consider a photographic equipment policy?
Anyone who uses their camera equipment heavily every year should at least consider a policy. We generally use the 10,000+ pictures per year as a rule of thumb for photographers to start shopping insurance quotes. We don’t recommend shopping for an insurance policy for your camera equipment if you don’t have a minimum of a thousand dollars invested in your equipment because it’s not worth it to the photographer. A camera is a tool, anyone can take a photograph, but not everyone can tell a story through their work. Your camera body is your base, but most professionals understand that the lens you attach to your base is where the magic begins as a storyteller.
A Canon EOS 5D Mark IV, a top of the line camera, captures incredible HD 4K video motion, used in professional movies and magazine shoots. The Canon EOS 5D Mark IV starts at around $3,000. That’s just the camera base, you add in a lens to your Mark IV, that’s easily another $2,000. Photographic equipment insurance becomes essential when you are filming with more cinematographic equipment like a DSM2, Scarlet-W, Raven where just the camera alone is $8,000-$40,000. Adding upgrades, accessories, and multiple cameras can add up to hundreds of thousands of dollars in camera equipment. By protecting yourself with insurance from a reputable company, the policyholder can rest assure their investment can be replaced.
Why shop for insurance with VA Car Insurance?
Having a significant amount of money tied up in camera equipment gives the photographer relief that if their equipment, is stolen or broken they have financial protection. Unfortunately, crime happens, and camera equipment theft is hard to track down. If you don’t have an insurance policy you are responsible for contacting police, connecting with pawn shops, forums, facebook groups, and other websites to find your equipment. Having financial protection if this happens to you is crucial for people who recognize the threat they face having a significant amount of money tied up in equipment.
Photography insurance is not the same for every insurance company, and we commend shopping quotes from multiple different companies to find the range of premiums. Fortunately, with VA Car Insurance, an independent insurance agent, can shop multiple quotes for you all in one place. You talk to one agent who shops for policy quotes from multiple carriers and returns each of their premiums to you. Independent agents work for you, not to an agency, they can find you the best deal, and you only have to talk to one person.