Researching insurance

divamum

Trying to figure out the best way to go with this and getting horribly confused.

I don't have an agent, so am doing it on my own.

My homeowner's and vehicle are separate policies, so not sure any benefit going that route.

I'm waiting for a quote from H&U, but from what I gather those are $500+.

I'm considering the PPA membership since my gear totals well under $10k and would thus be covered by the blanket policy. HOWEVER. I need liability, and I can't find any indications of what that would cost through them. If it's reasonable, I think that could be the way to go at least in the short term (and it would give me a year to research and learn more); I realise it's not necessarily the "best", but if it covers my needs and is relatively simple, it might be a decent place to start. Thoughts?

Other places I should look, or thoughts on how to proceed? I don't need errors and omissions. I don't need to cover employees. I don't need to cover squillions in gear. I just want to be sure if my gear gets stolen I can replace it (replace as new preferred, but I could live with depreciation value if necessary - I buy most of my gear used so it would be manageable), and if somebody trips on something during a shoot, I have my own behind covered and don't get slammed wtih a lawsuit.



Thanks in advance!

Art Scott

THE EASIEST THING TO DO IS LOOK IN THE PHONE BOOK FOR BUSINESS INSURANCE...sorry for the locked caps lock....any way...liabilty is usually pretty cheap...the last time I sent someone to Lloyd's of London for a few million of liability it was around $200 for a production week (load in to strike) , yes that seems high for us but that was for a full blown Opera type production and orchestra in Pit.

Also the reason I say to check with companies in local phone book...some Ins. Cos. found on internet may not be licensed to actually do business in your area.

Good Luck.

edit - link to PPA liability Insurance - http://ppa.locktonaffinity.com/businessliability.htm or just contact them ask what the premium will be.

divamum

Thanks Art. Don't internet companies have to disclose when they're not valid in a particular state?

Art Scott

I think so...but as with TV it can cause a lot of wasted time...even companies I have received snail mail spam from a lot of times don't openly say we can't sell in ks..the Insurance Commissioner and I have communicated a lot over the years...

divamum

I did call my homeowners insurer - apparently I can insure my gear as stated items despite occasional professional use (because it's valued at less than 10K and revenue still falls well within "hobby income"), but any liability insurance will require me to take out a commercial policy.

The more I look at it, the more I'm thinking PPA may be the way to go; I still need to get a liability quote from them to make sure I can afford it (and, as you say, is valid here), but the convenience - and the fact that even if it isn't perfect, any insurance will be better than the none I currently have - is attractive. As I learn more about this, I can perhaps find better solutions over the longer term...

Nikolai

IIRC, the insurance through PPA (i.e. through a PPA-recommended company with a PPA discout) is about $300/year and gives you $1M liability.

divamum

Tx Nik. Would those that know consider that a reasonable/fair price and benefits? Thanks!!

Icebear

Yes. That's reasonable. My wife (interior designer) pays $500 annually for similar coverage.
I'm pretty fortunate. My HO carrier offers a "Home Based Business" endorsement that extends the limits of my personal property and liability coverage to my "home based business." Pretty sweet.

divamum

Uh, and that would be what company?! ~flutters eyes~ ~digs toe in ground~ ~begs~

Icebear

divamum wrote: »

Uh, and that would be what company?! ~flutters eyes~ ~digs toe in ground~ ~begs~

You're getting warmer . . .

divamum

Nikolai

Well, in the interest of full disclosure, if you add PPA fees you'll get to $500 in a snap. However, PPA also offers other services (legal team and such), so you may consider it as an added benefit.
OTOH, PPA is one of the big proponents of SOPA/PIPA, so take it at a face value.

adbsgicom

Doing same exercise. PPA's company, since it isn't registered in NC has an extra filing fee that jacks the price up another $110 for each of the liability and equipment policies....

divamum

For once, I took the lowest-effort route and just went with PPA which totalled about $600 for membership+gear+liability. Hill & Usher was a flat $500 for my scenario, but it didn't cover gear outside the US and was more complicated to set up because they wanted itemised listings and I simply didn't have time to sit down and do that (it's been a crazy couple of weeks). Plus the other PPA benefits are of interest.

I'm sure I can do better if I shop around, but I was really pushed for time and just needed SOMETHING before the string of shoots I had a couple of weeks ago; I really wanted to be covered for those, so speed and ease in setting up were the prioritiese. I'll use this year to research more thoroughly and reassess options when it's time for renewal.

ilbcnu

I don't mean to hijack divamum but question for anyone using ipads. Have you been able to add it to your gear on your insurance? My agent just emailed me he can't add ipads. Thanks!

eoren1

Thanks for starting this thread Divamum. With the 5d coming in the next few days and me now making money from my photography it was time to reevaluate. Called Amica which holds my home owners and car insurance and where I had gotten a personal article for gear before. Forgot what I had so rechecked:
Personal article floater. Coverage holds for "pro" but only covers gear (fine for me). Full replacement value. Worldwide coverage. No deductible. Cost $30/year!!! For $4500 of gear.
Will add new gear to push that to $7000 and will carefully review updated paperwork but that looks like an awesome deal.
The have also been great to work with when we had a car accident and really garnered my trust during that incident.

SamirD

I added declared value insurance to my homeowner's policy for my gear. I dropped that when the value of my gear fell below what they normally include in the policy.

For liability, my agent said it is covered via the personal liability on homeowners and auto. It might be that way because I've got the liability jacked up almost as high as it can go.

Kinkajou

SamirD wrote: »

I added declared value insurance to my homeowner's policy for my gear. I dropped that when the value of my gear fell below what they normally include in the policy.

For liability, my agent said it is covered via the personal liability on homeowners and auto. It might be that way because I've got the liability jacked up almost as high as it can go.

I'm not sure you can put business gear on a homeowner's or renter's policy. If you're a hobbyist, there's no issue. I could be wrong, but that's just my understanding.

SamirD

I'm sure the gear can be insured by whomever since it's next to impossible to determine if gear is being used for business or personal use (from an insurance perspective).

wildviper

I would offer a word of caution against using the home policies for these needs. Sometimes, it is worth paying the piper...and in this case, it certainly is.

As we all know, insurance companies will take any avenue open to them to deny your claim when you actually need it. More importantly...what exactly do you want covered? Your gear or the liability that you may have? I would say liability is more an exposure than your gear that you need account for.

I went on a "free" baby photo shoot when i started and the baby fell and bumped her nose and had cuts on the face. This was not my mistake, but, you can imagine my heart stopping...not only cause of the baby but also thinking.."Oh shit!".

Do you really want to trust your "agent" that your home owner's policy with special coverage will be there for you? I highly doubt it. There is a reason why there are special policies created for special needs...this time, don't cheap out. And they are not expensive..I am paying $900 a year for full coverage that is very specific to my photography needs. They know that i do this part time and they know the risk with kids photography and wedding photography. I had mine reviewed by a risk management specialist whose job is to understand the lingo...he told me to stay far far away from home policies.

As they say, trying to save 10 cents may actually end up costing you 100!

AlliOOP

wildviper wrote: »

I would offer a word of caution against using the home policies for these needs. Sometimes, it is worth paying the piper...and in this case, it certainly is.

As we all know, insurance companies will take any avenue open to them to deny your claim when you actually need it. More importantly...what exactly do you want covered? Your gear or the liability that you may have? I would say liability is more an exposure than your gear that you need account for.

I went on a "free" baby photo shoot when i started and the baby fell and bumped her nose and had cuts on the face. This was not my mistake, but, you can imagine my heart stopping...not only cause of the baby but also thinking.."Oh shit!".

Do you really want to trust your "agent" that your home owner's policy with special coverage will be there for you? I highly doubt it. There is a reason why there are special policies created for special needs...this time, don't cheap out. And they are not expensive..I am paying $900 a year for full coverage that is very specific to my photography needs. They know that i do this part time and they know the risk with kids photography and wedding photography. I had mine reviewed by a risk management specialist whose job is to understand the lingo...he told me to stay far far away from home policies.

As they say, trying to save 10 cents may actually end up costing you 100!

SamirD

wildviper wrote: »

I would offer a word of caution against using the home policies for these needs. Sometimes, it is worth paying the piper...and in this case, it certainly is.

As we all know, insurance companies will take any avenue open to them to deny your claim when you actually need it. More importantly...what exactly do you want covered? Your gear or the liability that you may have? I would say liability is more an exposure than your gear that you need account for.

I went on a "free" baby photo shoot when i started and the baby fell and bumped her nose and had cuts on the face. This was not my mistake, but, you can imagine my heart stopping...not only cause of the baby but also thinking.."Oh shit!".

Do you really want to trust your "agent" that your home owner's policy with special coverage will be there for you? I highly doubt it. There is a reason why there are special policies created for special needs...this time, don't cheap out. And they are not expensive..I am paying $900 a year for full coverage that is very specific to my photography needs. They know that i do this part time and they know the risk with kids photography and wedding photography. I had mine reviewed by a risk management specialist whose job is to understand the lingo...he told me to stay far far away from home policies.

As they say, trying to save 10 cents may actually end up costing you 100!

Good advice. I searched for a while for what's known as 'personal liability insurance' that basically covers anything you do above and beyond what your other policies do. But I couldn't find anything at the time. I also looked for 'web publishing' and most agents look at me as if I was from outer space. The best thing I've discovered is to just stay away from anything that induces risk. Know your exposure and just stay away from it. A good policy helps for sure, but it's never a substitute for just being prudently cautious.

I do need to re-visit the insurance realm again. I'm sure I can find a policy that fits everything now.

jonrider

State Farm Business Policy
I looked into a business policy with State Farm and have chosen to go with them. Their business policy is $41 per month for $1 million liability coverage and $10,000 in equipment coverage which should be fine for me at this point in the game.