Photography Forums

The type of policy you need depends on how you use your equipment. If you do not make any money through the use of your equipment, a standard homeowners or renters policy should cover against theft and fire, even when your equipment is outside your home. Typically, standard homeowners and renters policies cover you against named perils only. They also typically have deductibles. If your equipment is accidentally damaged, for example, you drop it, chances are it will not be covered under a standard homeowners or renters policy.

If you use your equipment for non-commercial purposes, another alternative is buying an "all-risk" floater. This attachment to your homeowners or renters policy includes a schedule of covered items. An all risk floater generally covers the scheduled equipment against everything except specifically excluded perils stated in the policy (e.g., acts of war). So if you're walking down a street and you accidentally drop your camera and a car drives by and runs it over, smashing it into pieces, it's covered unless that situation is specifically excluded in your policy.

If you use your equipment primarily for business purposes, you should be insured by a commercial inland marine policy. A commercial policy offers all-risk coverage for equipment, eliminates the potential of exclusions if equipment is used professionally, and offers a variety of optional floaters designed to insure against the liabilities faced by a professional