What Is Camera Insurance?

Whether you enjoy photography as a hobby or it is your livelihood, camera insurance can protect your equipment from everything from theft to accidental drops. Perhaps you go out on a limb for the perfect photo and want to know you’ll be covered no matter what happens while you’re there. Or, you might photograph intense scenes like athletic competitions where your equipment is at risk. 

Regardless of the action and landscapes you capture, ensure you have adequate protection with camera insurance. If you have homeowners or renters insurance, your camera is covered for named perils. But adding coverage can protect it from additional scenarios, such as loss or accidental damage you cause. Here’s what you need to know.

Understanding Camera Insurance

Camera insurance is often a policy that sits under your renters or homeowners policy to offer additional coverage for your belongings. It extends standard homeowners insurance beyond theft, vandalism, fire and other named perils to include coverage for accidents, loss and more.

It works kind of like jewelry coverage where it is a rider on your homeowners policy that covers additional scenarios when you take valuable goods from your home. Perhaps you’re at a coffee shop meeting with a client and place your equipment on a table. You accidentally spill your coffee and damage your equipment. That would not be covered under your homeowners policy. But camera insurance would protect your valuable investment.

When filing a claim on your homeowners policy, you’ll face your normal deductible, often more than $1,000. Some homeowners deductibles are significantly higher at $5,000. If you must pay that, it may not be worth it to claim your damaged photography equipment on your homeowners insurance. That’s where camera insurance comes in and offers a low- or no-deductible plan to help get you new equipment fast.

Who Needs Camera Insurance?

Anyone with valuable camera equipment can benefit from camera insurance. Professional photographers are the most likely to seek this coverage. However, hobbyists might also find the coverage valuable if they have equipment valued at more than a few hundred dollars.

If photography is your livelihood, replacing your equipment fast is crucial, and covering the expense of a new camera might not be something you can just put on a credit card and pay off later. You want to know your equipment is covered no matter what you face. Some examples of professionals who should carry insurance for their photography equipment include:

• Portrait photographers
• Wedding photographers
• Nature photographers
• Landscape photographers

What Does Camera Insurance Cover?

Camera insurance covers your photography equipment, including:

• Camera batteries
• Camera body
• External flashes
• LCD screen
• Lenses
• Shutter mechanisms

It protects these valuables at home, in your studio and elsewhere from the following:

• Accidents (drops are the most common)
• Power surges when charging or plugged in anywhere
• Theft
• Vandalism
• Water damage

Even with the best straps, bags and safety equipment, photographers experience the devastation of dropping their cameras. Because that is accidental damage, it won’t qualify under your homeowners policy. You’ll have to replace the camera completely out of pocket. The same is true if you’re flying with your equipment and it gets damaged in transit despite all the right equipment to protect it.

Does Homeowner or Renter Insurance Cover Cameras?

Yes, homeowners and renters insurance cover your cameras and equipment automatically when you are at home. It will protect you in case someone breaks into your home and steals your valuable equipment or if a house fire consumes your belongings. Homeowners insurance only protects your equipment for named perils and it won’t protect against accidents, like dropping the camera or spilling liquid on it that damages the mechanisms.

Plus, if you misplace the camera, leave it behind at a shoot or it gets lost in baggage claim while traveling, your homeowners insurance likely won’t cover the equipment. That’s why you need additional personal property coverage.

So for those who don’t take expensive equipment on the go, their homeowners insurance might be sufficient.

How Much Is Camera Insurance?

Camera insurance is not very expensive compared to the price of your equipment. Most policies range from $2 to $10 per month, depending on the value of your equipment. The monthly cost is mostly influenced by what you’re covering and how much it would cost to replace it. Goods with a higher value will encounter higher policy premiums.

Is a Separate Camera Insurance Worth It?

For most photographers, a separate camera insurance policy is worth it. If you consider the average cost of the insurance not exceeding $120 per year but camera equipment that is worth several thousand dollars, the minimal cost is worth the coverage.

Knowing that you can afford to replace equipment quickly to avoid disruptions with your clients is valuable so you can keep your business going no matter what. If you file one claim every decade, the policy more than pays for itself.

Some of the advantages of having the insurance include: 

• Freedom to go the extra mile to get the perfect photo despite the risk to your equipment
• Greater confidence from your clients who know you operate your business with care and attention to detail to protect them in case of any surprises along the way
• Peace of mind knowing your valuables are protected no matter what you might encounter

The only disadvantage to the coverage is that you have another insurance premium to pay. But the cost is minimal and you can build it into the prices you charge clients or the price you sell your photographs for to cover the insurance.

How to Insure Camera Equipment

Insuring your camera equipment is fairly simple and won’t take much of your time. Here’s a look at what you can expect when purchasing coverage:

• Select an insurance company. Consider asking your agent whether your homeowners insurance policy has a rider or add-on coverage for your photography equipment. Or ask your photography association, such as American Photographic Artists, about recommendations for a good policy based on your needs.
• Document the camera and gear you want to cover. Take a photo of the equipment ideally documenting the age and models of everything so their value is easy to monitor over time.
• Upload receipts and equipment photos to your insurance company with a full listing of the equipment you plan to cover.
• Await the insurance company’s underwriting decisions to get a full policy quote.
• Sign any policy documentation and pay your first premiums to secure coverage.

You can do this as part of your annual insurance renewal for your home and auto or business insurance if you have it. Or you can do it separately mid-year when you purchase equipment or discover that you’ll benefit from coverage.

Compare the Best Camera Insurance from Benzinga’s Top Providers

Ready to cover your valuable photography equipment so you can capture the perfect photo without worrying about loss or damage? Here are the top insurers that specialize in this coverage.

Less Worry, More Creativity

Enjoy the freedom to take your camera equipment where you please and go the extra mile to capture the perfect shot without concerns over what that might mean for your equipment. Know that if anything happens to your equipment, you can replace it with a small deductible instead of the thousands of dollars your homeowners deductible entails. Release your creativity with peace of mind.

Frequently Asked Questions