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Steve F

Camera insurance with a twist - Brit in Europe

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Hey everyone, I've just spent (what for me is) a small fortune on a new camera and lenses. I thought it would be prudent to insure them because I've, ahem, kind of thrown a camera across a football pitch in the past! And this is where the fun begins.

 

I'm mostly living in Austria these days and insurance companies here just generally don't want to know. They're not really into speciality insurance - small market and all that. I did get one quote for €470 per year for an insured value of €6,000. Includes theft, accidental damage and replacement with the new cost, not used. It seems somewhat extortionate to me, but then I've never bought camera insurance before. I don't think I can use UK insurance companies because I'm not resident there.

 

So.... Is this expensive? Is anyone in the same boat. How many people insure and how many risk it? Cheers, Steve

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For your sum insured I can get a quote of about £150/year.

So yes, it is extortionate, but we have a very competitive market here.

FWIW I don't insure but my equipment is only worth a few hundred pounds. The €470 a year question is can you afford to replace your kit if you lose it.

Edited by spacecadet
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3 hours ago, spacecadet said:

For your sum insured I can get a quote of about £150/year.

So yes, it is extortionate, but we have a very competitive market here.

FWIW I don't insure but my equipment is only worth a few hundred pounds. The €470 a year question is can you afford to replace your kit if you lose it.

 

Thanks, I was pretty sure the UK would be considerably cheaper. Hmmmm... No I can't afford to replace it all and my wife would kill me! :)

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1 hour ago, Steve F said:

 

Thanks, I was pretty sure the UK would be considerably cheaper. Hmmmm... No I can't afford to replace it all and my wife would kill me! :)

 

I insure nearly £20k worth of kit (includes computers) with some non-standard provisions/extras, £5million of third-party liability cover (needed for some accreditation, and wise anyway) for less than your quote. My base area being the whole of the EU. I live in the UK but with UK as my home area it only gave limited travel and I usually spend 3+ months in Europe most years so went for wider cover which allows me to spend all year outside UK and in EU if I wish. I just have the limited travel cover of 60 or 90 days and no more than 30 days per trip for travel outside EU.

 

It might be worth asking non-Austrian providers if they can quote, I use Hiscox in the UK.

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I have all my gear covered on my household policy under personal possessions, new for old  up to £5000 around £250 p/a 

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14 hours ago, Steve F said:

 

Thanks, I was pretty sure the UK would be considerably cheaper. Hmmmm... No I can't afford to replace it all and my wife would kill me! :)

The single market doesn't yet cover insurance, so as I understand it insurers don't have to quote outside your country of residence.

http://europa.eu/rapid/press-release_MEMO-90-9_en.htm

but they're working on it.

12 hours ago, Martin P Wilson said:

 

I insure nearly £20k worth of kit (includes computers) with some non-standard provisions/extras, £5million of third-party liability cover (needed for some accreditation, and wise anyway) for less than your quote. My base area being the whole of the EU. I live in the UK but with UK as my home area it only gave limited travel and I usually spend 3+ months in Europe most years so went for wider cover which allows me to spend all year outside UK and in EU if I wish. I just have the limited travel cover of 60 or 90 days and no more than 30 days per trip for travel outside EU.

 

It might be worth asking non-Austrian providers if they can quote, I use Hiscox in the UK.

...and if the UK  becomes a third country you will need to check that your insurance is even valid.

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Just now, spacecadet said:

The single market doesn't yet cover insurance, so as I understand it insurers don't have to quote outside your country of residence.

http://europa.eu/rapid/press-release_MEMO-90-9_en.htm

but they're working on it.

...and if the UK  becomes a third country you will need to check that your insurance is even valid.

They may not HAVE to quote but might they be willing to provide cover?

 

Indeed and at that point I may need to see if they will change my base region to EU/EEA and UK!

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1 hour ago, Nick Hatton said:

I have all my gear covered on my household policy under personal possessions, new for old  up to £5000 around £250 p/a 

 

This has come up again and again: make sure you're allowed to make money with your gear (like contributing to Alamy). Usually this is excluded.

 

wim

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1 hour ago, wiskerke said:

 

This has come up again and again: make sure you're allowed to make money with your gear (like contributing to Alamy). Usually this is excluded.

 

wim

Indeed nor is public liability and indemnity cover usually included - but can be bought as separate cover.    

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5 minutes ago, digi2ap said:

Indeed nor is public liability and indemnity cover usually included - but can be bought as separate cover.    

 

Yes, maybe I should have been clearer:

Usually this is excluded.  Meaning: they will not pay.

Not even after a regular break-in.

 

btw 5000,- is really low. It will not buy you a body if it's a 1dx.

 

wim

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If I am using my gear  for any professional purpose I would not be without public liability insurance. Also if you want to get accredited to events or for other access you will often be asked for proof of public liability insurance;  it is actually a good way of weeding out wannabes from professionals.

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Hi everyone, thanks for the useful replies. I will try and get quotes from UK companies.

 

@wiskerke: good tip about making sure they let you make money from photography. Re. cost of equipment - I just got the new Sony A7iii. It's a full frame mirrorless with 2 memory card slots and £2000. So yes, significantly cheaper than full frame offerings from Nikon and Canon. Sony lenses do tend to be a bit more expensive though. It's a great camera; apparently a lot of people are switching over from the other brands and using their lenses with adapters. Indeed, Nikon and Canon have just announced that they're bringing out their own full frame mirrorless cameras. They're a number of years behind Sony in mirrorless terms though so I'm curious how they'll compare.

 

@spacecadetRe. UK being a third country. I'm a Brit living in Austria married to an Austrian, I'm trying really hard not to think about Brexit!! And the possible complications about potentially moving back to the UK in the future....

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1 hour ago, Steve F said:

 

 

@spacecadetRe. UK being a third country. I'm a Brit living in Austria married to an Austrian, I'm trying really hard not to think about Brexit!! And the possible complications about potentially moving back to the UK in the future....

You'll be fine, she may not be.

I see dual nationality isn't an option...unless you have an Irish grandparent?

 

Edited by spacecadet

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On 21/07/2018 at 20:53, Martin P Wilson said:

If I am using my gear  for any professional purpose I would not be without public liability insurance. Also if you want to get accredited to events or for other access you will often be asked for proof of public liability insurance;  it is actually a good way of weeding out wannabes from professionals.

 

I agree with you. Public Liability Insurance isn't expensive considering the cover, which reminds me I need to upgrade mine fro £2M to £5M.

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