Insurance for Camera/skydiving Gear

[JGarcia 0]

Like many of us, I've ammassed quite a bit of gear throughout my skydiving and cameraflying career--very expensive gear. So for obvious reasons I really need to think about insuring all of this stuff. I'll admit that I don't have the first clue as to the best kind of insurance/insurance options.
Sure, I could just call State Farm Insurance and ask them, but I figured a little research through my peers would better educate and prepare me before I make this call. So, any ideas, advice, thougths, or just telling me the kind of equipment insurance you currently have would be greatly appreciated.
I am currently looking to insure: 2 complete rigs, RW & Freefly helmets, complete camera setup (helmet, still, video, lenses, etc), all suits (RW comp, freefly, Bird-Man, Camera), and computer & editing equipment.
Thanks!
--Jairo

Low Profile, snag free helmet mount for your Sony X3000 action cam!

[PhreeZone 15]

Some of the stuff computers, camera's and such can be covered under your renters/homeowners insurance. I made a claim when my camera was "backed over by a car" after it" Fell off the bumper of my car". The insurance agent told me that was the best story to use and if i could provide parts from my broken camera, they would accept it. I did look it up and my coverage covers a lot of my gear if its stolen or lost, but I have to file police reports for the claims to come back or provide parts if its broken.

Yesterday is history
And tomorrow is a mystery

Parachutemanuals.com

[mattb 0]

I talked to State Farm as well and was told that all of my skydiving gear was covered by my renters policy as long as I was not using it to earn income. I would have to take out an additional policy if I wanted the equipment covered while I was earning money.

[Spy38W 0]

Quote

covered by my renters policy as long as I was not using it to earn income.

Just for clarification, did they mean while you were using it for income (making a tandem jump with your tandem rig,) or equipment that is used to make income (Tandem rig sitting in the gear room of your apartment)

--
Hook high, flare on time

[StevePhelps 0]

State Farm replaced my digital Rebel that was whacked on a tandem jump Saturday. I'll have my new Rebel today (Thursday) GREAT service.

FYI: It was a separate rider on my home owner's policy - $3000 worth of equipment for $40 a year -- $0 deductable!

[lewmonst 0]

Quote

State Farm replaced my digital Rebel that was whacked on a tandem jump Saturday. I'll have my new Rebel today (Thursday) GREAT service.

FYI: It was a separate rider on my home owner's policy - $3000 worth of equipment for $40 a year -- $0 deductable!

Do they know you were using it getting paid to film a tandem?
I went through all this with State Farm last year... but I was up front about using the equipment to earn money. They could not add it to a renter's policy and said I had to get a business policy on it, all of it, including my computer... Then they wouldn't even write me a business policy because they viewed anything related to skydiving as "too risky", which blew me away. Even after I argued about how I don't jump with the computer, they still wouldn't cover the computer. The big difference was the fact that I was earning income. If I was only using the equipment recreationally, they would have covered it. There are other threads on this topic, do a search.
I'm afraid if you make a claim as recreational equipment then they find out you earned money using it, that will void the claim.
For my camera gear, I get ESP's from ritz.
peace
lew

http://www.exitshot.com

[StevePhelps 0]

I was very upfront in what I was doing.

[cbennettjr 0]

I'm a commercial photographer by trade and all my equipment is insured through Tom Pickard & Co.. They specialize in Photo gear and know what things are worth and what it means when gear goes down or is lost.
(and no, I don't get kickbacks)

As for my rigs, they get covered by my home owner's policy.

Hope this helps.
chuck
Canis meus id comedit.

[lewmonst 0]

Quote

I was very upfront in what I was doing.

Then why'd you delete your post?

peace
lew

http://www.exitshot.com

[StevePhelps 0]

I was trying to edit, it but deleted instead -- funny, but sometimes others want to screw ya because they didn't get what you got. Not referring to your post -- just people in general.

I suppose someone could read this and look into it and determine my claim was wrong. That would be a bummer as I told the agent EXACTLY what I do and how it coud potentially go down. ie. cut away, hit, dropped, etc.

[JGarcia 0]

Wow, I posted the original posting over 2 years ago! Thanks Steve, Chuck, and Lew for reviving the thread!
Cheers!

--Jairo

Low Profile, snag free helmet mount for your Sony X3000 action cam!

[pepe 0]

The type of policy that is best for those of us who are paid for our services is called an "Inland Marine" policy. I have one on all of my gear which is itemized. It covers loss, theft, damage no matter where you are or what you are doing. I believe the deductible is around $500, but it is extremely liberal and commerically oriented. For $250/yr I get around $15,000 in coverage. It sounds like a lot, but 3 years ago when I lost a fully loaded helmet... it made me rethink things. Oh yeah, and of course it's a deduction on your taxes.

[VisionAir 0]

Quote

I made a claim when my camera was "backed over by a car" after it" Fell off the bumper of my car".

I tried this for my FTP that went in at WFFC and my conscience got the better of me..I called them back immeadiatley and cancelled it. Damn conscience cost me 3k

Huh?!? What cloud?!? Oh that!!! That's just Industrial Haze
Alex M.

[chix 0]

Business insurance may be your best bet. Cost would be in proportion to income, which derived from a fairly liquid source usually is not much,BUT electronics de-values so quickly you will never get enough to replace it as you know it's worth. 50% after year 1- Your rig should be well covered, replacement value less depreciation- but replacement value (priced a new container lately? Or Cypress?)is so high. But your'e right, anything missing, broken, burned requires corresponding documents from police or fire department, and anything else supporting the claim (written testimonial from landlord/girlfriend/business owner where you lost your stuff.) Always file a police report on any stolen gear, even your blank dvd's One more thing about getting a business policy, you may need a business license and may be asked to pay personal property taxes, no big deal. I'm supposed to list every wrench my husband owns, even the smoke alarms in my rentals.The good part of that is , in the event of theft, All of the contents are bonafide claims---list every nasal spray, pair of sunglasses, tape for repairs. Keep all receipts,. Jewelry does not depreciate at all (buy an expensive watch), nor hardly do shoes and clothes, books do not depreciate significantly, This incidentall stuff adds up to thousands of dollars (key chains, cell phone used for business) if you lose it. When they tax it, it's pennies. I am a firm believer in insuring your costly possessions. Take a video of your video stuff. If you get hurt the insurance for "loss of income" may apply, you would be surprised how many insurance companies allow skydiving.
Don't you know any skydiver in the insurance or banking industry? My gear is covered up to !0,000 as part of my homeowners policy, even though it isn't in my house. I wouldn't look too hard for my canopy if I had a cut away, that's for sure!
Don't go to State Farm anyway. Go to an agent, any little guy will do just fine. They put you in a very large pool and you're picked up by a big company, rates are less expensive and they're far out of town and don't know that you really don't have a fire proof, secure 3 combo lock office at the dz for your property. They may rate you on the area you live in too, is it low income? low crime? Don't mention any animals you may have.

The police are worthless retrieving stolen gear, and they don't recognize it for what it is when they do get it. The dzo bought a nice rig from a friends good friend, found out it was stolen, the guy told him to blow him when he wanted his $ back, and the police asked him not to call back, to settle it between themselves, sue him in small claims.*** Tell them you had a gun stolen in the same gear bag and they'll move mountains to find out who dunit . Take a description of a gun off a gun store bulletin board. And no it is not your gun, it is your dead friends uncles gun he left last year enough out of me!!

Quote

• Quote