After much omming and aarrring and cajoling from myself, we bit the bullet and brought insurance. Bad Rabbit Studio’s gear has expanded over the last two years from one fairly inexpensive camera, to a kit worth thousands of dollars in of photography, videography and editing equipment. Insurance therefore, could no longer be avoided.
Insurance can be a rather complicated field to navigate. What do I actually need? How much should I insure for? We’ve teamed up with our insurers, IS Insurance Services, to give you the low down.
– Ensure that you list each specific item down on your ‘all risks cover’. This will safeguard each item with cover for accidental loss or damage.
– Clarify on the list which items are new or old.
– If you have equipment that is less than 2 years old, note it down as ‘new for old’.
– If an item is more than 2 years old insure it at it’s resale value, or ask your insurers if they can give ‘new for old’ cover for that particular item.
– Definitely do note each individual serial number for each item and store it somewhere safe (separate from your equipment). You will need the serial numbers should you wish to make a claim.
– Just because you have insurance does not necessarily mean you are in the all clear. Take all ‘reasonable precautions’ with your equipment at all times and don’t leave it to chance.
– Don’t leave your equipment unattended or in an unattended vehicle – even if it is in the boot. This is not seen as having taken all ‘reasonable precautions’ and you will not be covered should your kit be stolen.
– Don’t assume your household cover extends to cover your equipment when it is out of the house. Get insurance for the equipment itself.
So there you have it. A big thanks to Angela, Kevin and Pat for their insider tips on a subject that can so often trip a photographer up.
Remember kids, keep it locked up.