Last Updated: August 17, 2022

What You Need To Know About Camera Equipment Insurance

TLTR: This article explores what camera insurance is and why you need to get camera equipment insurance for full coverage. Besides explaining what the policy covers, it also discusses the types of insurance that professional photographers should have to insure their business and to make sure that it is protected against any unforeseen circumstances.

As a photographer, you know that your camera and photography equipment aren’t cheap. Sometimes, the cost of repairing or replacing a cracked lens or a broken gimbal can cost as much (if not more) than the price of the entire camera.

If you’re a professional photographer or run a photography business, you understand how much of a problem a malfunctioning camera or broken equipment can be—not just for you, but also for your clients.

Even if you’re just a hobbyist, you’ll want to protect the financial investment you’ve put into your equipment. So, if you want to make sure you’ve got the coverage you need, getting camera insurance and adding camera equipment insurance is an absolute must.

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Contact a local agent online to help you with your insurance needs.

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What Is Camera Insurance Coverage?

New cameras typically come with at least a one-year warranty from the manufacturer. However, it only covers repairs if the camera breaks down due to a manufacturing defect.

Camera insurance further helps protect your camera (DSLR, SLR, or mirrorless), action cameras, or video cameras, if it is subject to accidental damage, electrical malfunction, mechanical breakdown, and theft or loss.

What Is Camera Equipment Insurance?

Camera equipment insurance is a form of coverage that you can choose as part of your camera insurance. it’s specifically designed to protect photographers and videographers from any financial loss resulting from damage, malfunction, or loss of their camera equipment.

It covers a wide range of camera equipment like tripods, flashguns, lens filters, gimbals, external microphones, remote shutter buttons, and other camera accessories.

Do You Need Insurance for Camera Equipment?

No matter how safe you think your camera is or how careful you think you are, accidents and mishaps can always occur. Even when you’re working in a controlled environment like in a studio, tripping over a stray cable or bumping into a table can result in you knocking over expensive cameras, lenses, flashguns, and tripods.

Cameras and equipment used in wildlife and landscape photoshoots are exposed to even more risks from the outdoors. If you were to damage your camera or equipment, or if it were stolen and you didn’t have camera insurance coverage, you would have no other option but to pay for its repairs or replacement out of your own pocket.

Having camera gear insurance in place would also eliminate the need to pay for replacing your camera.

Simply put, you need insurance for camera gear if:

  • You’ve purchased an expensive camera and equipment that you’d struggle to replace if anything were to happen to them.
  • You think that your camera and camera equipment might get damaged during a photoshoot.
  • You feel there’s any chance your camera might get stolen.
  • You would need an immediate replacement device if anything were to happen to your camera.

So, if you’re wary of the potential risks and feel like you might need a financial safety net, getting camera insurance coverage will give you peace of mind.

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What Factors Influence Camera Equipment Insurance?

When speaking with an insurance agent or camera insurance company, be specific regarding how and where you plan to use your camera. The agent or the company representative will generally ask for a detailed list of information for each listed item you want to insure.  

You will need to update and maintain the list every time you sell or acquire new equipment. Doing this will affect the amount that you’ll need to pay in premiums.  

For instance, if you work outdoors and shoot wildlife or landscapes or work as a wedding photographer, you may need to pay more in premiums. This is because you’re exposing your camera equipment to the elements. Furthermore, working outdoors also leaves your camera equipment vulnerable to theft and accidents.  

Your rates will be lower if you only use your camera and equipment inside a studio. Unlike the great outdoors, photography studios are generally much safer, more controlled environments.  

Some carriers may set the same amount for both indoors and outdoors. But it’s important to be specific and upfront with your broker from the very start to avoid any misunderstandings. 

Connect With The Best Insurance Agents Near You

Contact a local agent online to help you with your insurance needs.

What Does Camera Equipment Insurance Cover?

Camera equipment coverage is an add-on of camera insurance and needs to be added to your camera insurance to take effect. Once you add the policy into your camera insurance coverage, it provides the same range of protection to your photography equipment as it does to your camera.

Camera insurance can help protect your camera and equipment against:

Accidental Damage

If the lens element of your camera cracks or shatters or if your camera’s internal components are impaired due to liquid damage, your camera insurance can help pay for repairs or replacement. Similarly, if your tripod falls and one of its hinges come loose, this policy can pay to fix it.

Electrical or Mechanical Breakdown

Most new cameras come with a six-month-to-a-year warranty under which the company or the shop provides full repair and replacement service. But if your camera equipment experiences an electrical or mechanical breakdown after the warranty period has expired, this policy can help in covering the repair or replacement cost.

For example, if your camera lens’s focus ring gets stuck, or the remote shutter button stops working, your camera insurance will cover any repair fees.

Theft or Loss

If you lose your camera or camera equipment to theft, this policy will cover the cost of its replacement. However, there may be some exclusions if you’re found to have left your camera and camera equipment in a place that wasn’t secure or if it was left unattended.

Travel Coverage

If something happens to your camera or camera equipment when you’ve taken it abroad, this policy will provide coverage for them. The coverage tends to be for a specific number of days per trip or a specific number of trips per year.

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What Does Camera Equipment Insurance Not Cover?

Damage Due to Wear and Tear

As they get older, cameras tend to stop working. Camera insurance will not cover malfunctions and damages that have occurred as a result of age and long-term use.

Second-hand Cameras

The camera and equipment you’re trying to insure must have been purchased directly from an authorized distributor, retail store, or manufacturer. Insurers need to be provided proof of genuine purchase for the policy to pass.

Older Cameras

Most carriers won’t cover cameras that are more than three years old. Some may even lower the number to 12 months.

Superficial/Aesthetic Damage

Cosmetic damage such as dents and scratches to your camera body that don’t affect the functionality of the camera will not be covered.

Cameras Used for Commercial Use

Cameras and camcorders that are used for commercial use are not covered by camera insurance. You may need to take out a business owners policy if you want to cover them.

Connect With The Best Insurance Agents Near You

Contact a local agent online to help you with your insurance needs.

What Types of Insurance Do Professional Photographers Need?

According to IBISWorld, there are 234,222 professional photography businesses operating in the U.S. in 2021. Given the sheer volume of different customer needs and projects, there’s always a chance that you could face several third-party claims and lawsuits. Some of the policies that can help you stay prepared are:

Business Owners Policy

A business owners policy (BOP) can help protect photography businesses from any claims and lawsuits, property damage, and equipment breakdowns.

They can also help you stay financially afloat if your business needs to suddenly close shop. For example, you slip and break your primary camera while shooting a wedding. Your BOP will cover both your lost income and the repair costs that resulted from the accident.

Commercial Property Insurance

If you’re working as a professional photographer, commercial property insurance is one of the most important coverages that you need to have in place. It can protect everything from your cameras and camera equipment to lighting gears and laptops that you use to process your client’s photos.

Proper commercial property insurance can cover you against any forms of theft, vandalism, wind, and fire damage.

General Liability Insurance

Every serious photographer will have a lot of equipment with them. Wedding photographers will have everything from multiple light reflectors and tripods, to multiple prime and telephoto lenses. While this can be beneficial for the photographer, it can put their clients and guests in danger.

For example, a child could trip over a tripod stand and injure themselves. In such instances, your general liability insurance can help pay for their medical fees.

Errors and Omissions Insurance

Errors and Omissions Insurance or E&O insurance is another important coverage that professional photographers need to have in place. It covers different claims and lawsuits that third parties could file as a response to your errors, incompetence, and delay in services.

For example, some organizers hire you hired to shoot a local folk concert. But they weren’t happy with the video or sound quality and decided to sue you. This policy can help pay for your defense costs.

Let us help you find the right camera equipment insurance to keep your photography hobby or profession afloat. Find a local insurance agent today!

In Conclusion

Working as a professional photographer can be a dangerous profession. So finding the right insurance should be a priority. Proper photography liability insurance and camera equipment insurance can provide you with a financial safety net that you can fall back on if the need arises.

Our team of expert insurance agents can help you find the perfect insurance by assessing your needs and your budget. Find an agent near you today!

Frequently Asked Questions (FAQs)

Does Renters And Homeowners Insurance Cover My Camera?

The straight answer is, yes, it will! If you want to cover your camera against theft, vandalism, and other covered perils, your homeowners insurance policy will automatically provide the necessary coverage.

However, the majority of home content insurance is limited to cover your belongings only if it’s inside your home. As most photographers prefer taking their cameras outside, the coverage that homeowners insurance provides can be limiting. So, you’ll need camera insurance to ensure that your camera is financially covered to the full extent; even when you’re taking them outdoors or to your studio.

Does Renters And Homeowners Insurance Cover My Camera Equipment?

Yes, it will! Your homeowners insurance will cover any photography equipment that you own such as tripods, lenses, external flash, gimbals, or external shutter remotes from perils such as fire, theft, and vandalism.

But you’ll first need to get camera insurance, and then add camera equipment insurance if you want to provide extra coverage. Note that you’ll first need to have your camera body insured before you can insure your camera equipment.

If you want to also insure your camera equipment against accidental damage like cracked lenses and mysterious disappearances, you’ll need to buy a camera insurance policy.

Does Camera Insurance Cover Lost Photos?

Most camera insurance policies don’t cover lost data. Most modern digital cameras can connect to the internet. If you don’t lose your precious photos, make sure that you upload it to the cloud and also store them in a backup file frequently.

Connect With The Best Insurance Agents Near You

Contact a local agent online to help you with your insurance needs.

Multiple Coverage Options at Your Fingertips

Choose from various options and select the policy that best suits your requirements.

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