How do you insure your gear?

[Chrissay 0]

I would like to insure my skydiving gear and camera equipment in case it gets stolen, etc. I spoke to my State Farm insurance agent and she said because I use it for business purposes -- even if it is only like 5% of the time, my homeowners won't cover it.
And a general insurance policy won't cover it either since it has to do with skydiving ...
I know people out there insure their gear ... so how do you do it?

[velocityphoto 0]

I been fighting with these guys for quite sometime now and have had no luck yet. I have 4 rigs and an assortment of camera equipment and computers ,studio lighting, etc etc etc the list is endless. Even if i got a policy it would only cover it while it was at my home and never leave home .Then they have the nerve to tell me they will only cover things for what they think it is worth ,not replacement cost . If you find someone to do it i'm game ?
Good luck

A friend will bail you out of jail , a REAL friend will be sitting next to you in the cell slapping your hand saying "DUDE THAT WAS AWSUM " ................

[Zee 0]

Quote

I would like to insure my skydiving gear and camera equipment in case it gets stolen, etc. I spoke to my State Farm insurance agent and she said because I use it for business purposes -- even if it is only like 5% of the time, my homeowners won't cover it.
And a general insurance policy won't cover it either since it has to do with skydiving ...
I know people out there insure their gear ... so how do you do it?

I asked my State Farm agent if they'd cover it if it my gear was stolen or even if it just came off my head in freefall and she said yes......I never mentioned that I use it for business purposes though....

Action©Sports

[DSE 3]

If you're using it for business purposes, you need a business policy. Gotta make a decision; is it a hobby, or is it a business? My camera gear is covered under my business, but my rigs are covered under homeowners.

[base_nz 0]

I will be traveling at the end of the year (finally) and have to start thinking about insurance,

Is there a standard policy most of you get when traveling? Probably watch laptop and camera it wont be a problem but what about a rig?

And when they find out i have a rig are they going to hike the charges when they find out im jumping?

Im pritty clueless about the whole thing
Thanks

.....And you thought Kiwis couldn't fly!!!!

[mrwrong 0]

Here is my 2 cents.

The different policies in different countries probably make it virtually impossible for anyone to publish a general answer that will apply for all / or most / of us.

I live in Sweden and over here in our small pond there is only 1 (!) insurance company that will cover sky dive equipment in the 'home insurance', but even this 'generous' term is limited. They only cover a fraction of what the gear is worth. But of course they are more than happy to sell an 'upgrade'

“The sum of intelligence on the planet is a constant; the population is growing.” - George Bernard Shaw
He who dies with the most toys, wins.....
dudeist skydiver # 19515
Buy quality and cry once!

[Zee 0]

Quote

Here is my 2 cents.

The different policies in different countries probably make it virtually impossible for anyone to publish a general answer that will apply for all / or most / of us.

I live in Sweden and over here in our small pond there is only 1 (!) insurance company that will cover sky dive equipment in the 'home insurance', but even this 'generous' term is limited. They only cover a fraction of what the gear is worth. But of course they are more than happy to sell an 'upgrade'

Trygg Hansa?

Action©Sports

[mrwrong 0]

Nope, Länsförsäkringar.

The last time I checked they were the only one covering sky dive gear. They do exclude hang gliders etc

“The sum of intelligence on the planet is a constant; the population is growing.” - George Bernard Shaw
He who dies with the most toys, wins.....
dudeist skydiver # 19515
Buy quality and cry once!

[BMFin 0]

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Here is my 2 cents.

The different policies in different countries probably make it virtually impossible for anyone to publish a general answer that will apply for all / or most / of us.

This is very true, but it will definetly not only vary among countries but also within countries among different insurance companies.

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I live in Sweden and over here in our small pond there is only 1 (!) insurance company that will cover sky dive equipment in the 'home insurance',

In finland theres a lot of insurance companies that will cover skydiving equipment. Im sure there are lots of them also in sweden, also. Are you sure you have checked each insurance companys policies individually ?

Even so, there are also a lot of differences to what kind of incidents does the insurance cover. For example my home owner insurance will cover theft unless it happens due to my negligence. ( for example leaving my rig or camera gear unattended inside a locked vehicle is not covered) Then again any damage to sport equipment (wich a sport parachute system clearly is) that happens while the equipment is used on its purpose is not covered on my insurance, but if the incident happens while the equipment is not being used in skydiving my insurance will cover unless there are other factors inhibiting the indemnity.

Camera gear on the other hand is not sport equipment and therefore the indemnity is not limited in the same way, but it might be hard to prove the insurance company that you were not neglecting responsibility while jumping out of an aircraft with the gear attached to your head.

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but even this 'generous' term is limited. They only cover a fraction of what the gear is worth. But of course they are more than happy to sell an 'upgrade'

In my home insurance there is a "calculation sheet" how much they will discount from the original value based on how many years since the equipment was taken in use, and these percentages vary based on what kind of equipment is in question. (electronics, Sport equipment, art work etc etc..)

Because of this "caluculation sheet" I wouldnt get what my gear is really worth in real life, but when im under my travel insurance I actually have "multi-insured" my gear with two insurancies. (home owner and travel insurance) and I am therefore entitled to claim the rest of the remaining value from the other insurance. (according to finnish insurance laws you are not entitled to claim more indemnity in a multi-insurance situation than the insured object is worth in real life)

Sorry for the bad english..

[flydog 0]

When I looked into it before you could get an Inland Marine policy. Here in MI it is available through Hastings Mutual. It will cover all your gear for anything except mysterious disappearance. I even asked about a lost main on a cutaway. They said it was covered if you talked with the police and had a report of what happened.

[tetra316 0]

I have Farmers Insurance, rental insurance at the place I live. It will cover my rig if anyting happens to it at the house and if it's stolen from my car. Don't think it will cover anything out side those two places though.

[PhreeZone 15]

Renters/home owners insurance usually only covers it if it is not being used ina "for profit" activity. If you lose the gear on a tandem video and you claimed you are a freefall instructor on your taxes they may not pay out or they may take you to court later for insurance fraud if they catch it.

Talk to your agent and get it in writing.

For Photo gear search some of the larger photo websites, there are lots of companies that will sell coverage specifically for your cameras.

Yesterday is history
And tomorrow is a mystery

Parachutemanuals.com

[velocityphoto 0]

If you use it for business and don't let them know? It is my understanding that they have no way of finding out from your taxes ? According to what i'm told no one can order an audit other than the I R S Is this true ?

A friend will bail you out of jail , a REAL friend will be sitting next to you in the cell slapping your hand saying "DUDE THAT WAS AWSUM " ................

[DSE 3]

Any party in any lawsuit can subpoena tax returns.
If the insuring party has any inkling that you've been working and not claiming it, or working and only claiming on your tax returns...you bet they can get their hands on your tax returns.

[velocityphoto 0]

I figure i'm just fucked all the way around anyways! I can't afford what they have quoted me anyways ,2200.00 a year for coverage that won't cover nothing anyways . So why buy insurance ? They will only cover what they think it is worth at the time of loss (not replacement cost). If i could afford the insurance then i could afford to by a new rig or what ever i loss anyways .

A friend will bail you out of jail , a REAL friend will be sitting next to you in the cell slapping your hand saying "DUDE THAT WAS AWSUM " ................

[Chrissay 0]

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When I looked into it before you could get an Inland Marine policy. Here in MI it is available through Hastings Mutual. It will cover all your gear for anything except mysterious disappearance. I even asked about a lost main on a cutaway. They said it was covered if you talked with the police and had a report of what happened.

Very cool, I will have to look into them! Thanks for the info.
Thank you everyone for the feedback