Stallion Insurance Group • Jan 24, 2024
I was out taking photos the other day when I set up my camera on top of my car. For some reason, little tripod on top of the car has been my go-to these days. And, as I was doing this, I had this moment of realization comparing the car’s value to the camera. I have an older Olympus OMD, some nice gear and I’m by no means a professional photographer. Everything is pretty average across the board. But my camera and extensive gear collection together are worth more than some cars that I drive by on my way to work everyday. People are often well protected against the loss of assets with a full coverage auto policy but how well protected is their camera gear?

To answer that, I took a look at the special loss limits on three home insurance policies without any special endorsements. How many people have their camera gear protected through an endorsement? Very, very little.

What does it look like? Well, we found three very different situations in the event of a total loss at home.

An insured with Company A may hit a $2,500 loss limit on their gear and an insured with Company C may take a bigger hit with a $1,500 limit for portable electronics. However, an insured placed with Company B is likely in better shape with regards to their photography equipment due to them not having an applicable special limit here.

The point of this is not to say that everyone needs to sign up for Company B. It’s to help educate the consumer on these very important differences that exist between policies. Despite what may be commonly thought, all things are not held the same between companies and the minor details matter. If you have items of serious value, you’re going to be better off including them in the insurance discussion. As agents, we work to find solutions that work for you and fit your situation. If Company C is right for other reasons, maybe we need to endorse that policy for your camera gear! Maybe it needs to be scheduled. We have plenty of options to offer.

While I may not have enough camera gear to get a separate policy, the difference between these limits would certainly matter to me! Would it make a difference to you?

Disclaimer: None of this is a discussion of a reader’s specific policy and should not be considered insurance advise about your coverages, it is for educational purposes only.