Insurance for your gear?

[kongg]

It would be prudent to give yr agent/broker the SPECIFIC DETAILS of yr camera model and lenses(Age and receipts if possible). If not, the insurance company may just give a generic coverage for yr gear. Sometimes, the cover amount may not event cover the entire risk adequately.

EXAMPLE Your gear Nikon D1x S$4000 (2nd hand)
17-35 AFS S$3000 (New)
70-200 AFS VR S$3100 (New)
Total S$10,100.00

Generic coverage(all risk blanket cover) with premium at S$200 for coverage up to a max of S$5,000.00

In the event of a total loss claim (Everything lost), the insurance company is entitled to pay u up to a max of 5K!!!!

A prudent broker/agent will examine the items to be covered and will propose a policy to adequately cover yr gear properly taking into account allowance for far wear and tear (depreciation)

I know of some professional brokers who may be able to help. Pls feel free to PM me for further details.

 

[Antohalim]

Since AXA, Aviva and NTUC coverage come under home insurance, can I buy the insurance just for my camera gear? I do not own any property at the moment, so home insurance is not an option.

Thx,
Johan

 

[Terence]

Even with the home coverage, the annual premium would come up to about $300 for $15000 coverage on the gear. I think that is quite an affordable amount and would cover most setups. I'm referring to what I paid when I signed up with AXA.

If you don't own a home, you should check with the individual agencies to see if you are able to be covered.

 

[ST1100]

Hi Terence. Just a quick question: does the $300 for $15k coverage scale linearly? Eg $600 for $30k, $1200 for $60k? Thanx.

 

[Terence]

It's not absolutely linear. Probably best to give the agent a call to get the exact numbers. I'll email you a contact.

 

[Del_CtrlnoAlt]

just wondering...

the insurance cover theft, lost... does it cover damages/repairs? also its by single part or overall? like lense 1 insurance, body 1 insurance... etc...

also in some situation, does it cover 3rd party, i dunno insurance terms, but something like, if your camera equipment accidentally hurt somebody physically... den can the person claim damages? (think tis 1 quite hard 2 justify also, just a thought only... like if u aim some pics den u swing your lense & hit somebody.)

 

[pcwe68]

Using home insurance to cover photo equipment, is only good when all the accident/theft happens at home right? If you loose or damage your equipment outside the house, I don't think it will be covered.

(In fact, for some home insurance if not all, theft or break in may require you to prove that there is forced entry)

For travels, travel insurance would usually cover lost, damage to equipment, but again must make police report etc.

I believe you should be able to approach insurance company to work out a insurance just for your camera equipment but it will probably be expensive. Perhaps, Clubsnap or a group of us should approach some of the insurance companies work out a camera specific insurance (but you must be able to convince them that there is volume, remember singtel offered insurance coverage for lost handphones......)

 

[dkw]

Using home insurance to cover photo equipment, is only good when all the accident/theft happens at home right? If you loose or damage your equipment outside the house, I don't think it will be covered.

(In fact, for some home insurance if not all, theft or break in may require you to prove that there is forced entry)

For travels, travel insurance would usually cover lost, damage to equipment, but again must make police report etc.

I believe you should be able to approach insurance company to work out a insurance just for your camera equipment but it will probably be expensive. Perhaps, Clubsnap or a group of us should approach some of the insurance companies work out a camera specific insurance (but you must be able to convince them that there is volume, remember singtel offered insurance coverage for lost handphones......)

The AXA one that Terence has got and the AIG one my agent passed to me appears to cover theft whilst travelling. They also do not require proof of forced entry for home theft. I'll probably takre one up soon, YMMV.

Cheers,

 

[pcwe68]

The AXA one that Terence has got and the AIG one my agent passed to me appears to cover theft whilst travelling. They also do not require proof of forced entry for home theft. I'll probably takre one up soon, YMMV.

Cheers,

That's good, but what if you lost it within Singapore? Did it specifically say do not require proof of forced entry or it is not mentioned - if it is the latter than better to check with insurance company (not just the insurance agent)


((So can we say that we lost it at home, the thief only stole the camera and lens..... :bsmilie: ))

 

[dkw]

That's good, but what if you lost it within Singapore? Did it specifically say do not require proof of forced entry or it is not mentioned - if it is the latter than better to check with insurance company (not just the insurance agent)


((So can we say that we lost it at home, the thief only stole the camera and lens..... :bsmilie: ))

Yes stated specifically that no proof of forced entry is required. As with all these kinds of insurance, a police report is mandatory, so........

 

[Terence]

Some other info about the AXA cover.

Receipts for the stolen/damaged gear is not required up to $1500. Anything beyond that needs to be pre-stated when you sign for the cover and receipt must be produced if any claims arise. This is useful especially since second hand gear and older gear do not come with receipts.

The cover is good worldwide. And it's not just your camera equipment. If you should lose or damage your watch or laptop, those would be covered up to $1500 too.

AXA should be paying me a commision for pushing their product.

 

[loupgarou]

does any cover theft/loss while in the hands of a third party (eg: if you rent lenses out)

8)

 

[Terence]

Been getting too many inquiries. I think it's best to let the agent handle the inquiries. She gave me permission to advertise her contact details. Make her work for her commision! Ask for the SmartHome Policy or just tell her you're one of the camera nuts, she'll understand.

Patricia Yeo
AXA Insurance
HP: 97969206
Email: yeopat@singnet.com.sg

 

[dkw]

My agent has sent me the brochure for AIA homecare insurance which has cover for personal valuables lost whilst travelling. Please don't ask me for details, but if you are interested in having a look please send me an e-mail at <dkws1_at_yahoo.com.sg> (replace _at_ with @).

Cheers,

 

[zekai]

My agent has sent me the brochure for AIA homecare insurance which has cover for personal valuables lost whilst travelling. Please don't ask me for details, but if you are interested in having a look please send me an e-mail at <dkws1_at_yahoo.com.sg> (replace _at_ with @).

Cheers,

while i am not sure of axa coverage... aia homecare plan dun really work.

(i am VERY familiar with AIA plan)

 

[dkw]

while i am not sure of axa coverage... aia homecare plan dun really work.

(i am VERY familiar with AIA plan)

Zekai,
what was your experience, if you don't mind sharing?

Thanks!