🟡 Is Your Camera Equipment Insured? | Best Photography Insurance? UK / Wedding / Leica / Aaduki

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This is a dry subject but really interesting and coverage on the topic is really lacking from lots of web searching (for UK insurance reviews – and negative reviews will always stand out).

As an amateur it feels like a game of what you can afford to lose (either through theft / loss / accident) for your hobby vs paying out in insurance where there don't seem to be many good news statements on successful claims.

As Ken Monahan points out in one of the other comments, the averaging the insurance companies can apply in the event of a claim. This is something I haven't looked into with some specific insurers who insure per item (someone like Photoguard) rather than a blanket amount (someone like Eversure, which feels like it would be more at risk of underinsuring).

In the end… I'll probably have to pick which gear I want to protect the most, insure it as an individual item using specialist insurance (rather than home insurance which would possibly have an impact on my entire home insurance policy – if anyone knows if I'm mistaken in this please let me know!).

A spreadsheet inventory is a great way to remind yourself the value of what you are carrying.

Thank you for 17:03. You were losing me for a sec 😀

I have only a specialized Photo-Equipment-Insurance for my Leica equipment. But I only do photography as a pure hobby. I still have some other cameras but I do not use them very often these days and they are older and not that valuable anymore.

Yes of course

I had as hobbyist photo gear insurance for a couple of years, and I wasted too much money for it – photo gear insurances have become very expensive no matter on the conditions. The money I spent for it would have given me a brand new expensive lenses. I avoid going alone in dodgy areas and don't do night shooting either. It depends as you said how and where you use your gear to justify an insurance. I saved thousands of dollars by not having it. I never do extended warranty insurances either, never would have needed any. For professionals on the other hand such insurance is a must-have. But good that you summarized all of this – it has become an important topic.

Hi Matt, good video a couple of little Wobblies but basically very helpful. Now for my sins I am an insurance broker by day (aircraft but the insurance all works the same way) but have a quite a bit of camera kit., which I insure and have also claimed for a small damage issue to a G9 on holiday. I would like to add some general advice if you are thinking of buying separate camera insurance only the property part. 1) shop around there are quite a few specialist about it’s good to have a broker especially if you have more than about £20k of kit so Aaduki would be a better option. As they are a broker. If you doing it yourself 1) make an inventory of your kit in excel with purchase price, photo of receipt, serial number and a pic of the serial number and item especially for the more expensive items. 2) make sure you have proof of purchase as claiming for any second hand equipment could be disputed. 3) make sure you supply the inventory to the insurer because if you have items that total more than the amount you insure they will likely apply “average”. Example you have 20k of kit you only insure for 10k you claim 2k for a stolen camera, they will only pay 1k because you have underinsured by 50%. But if you supply an inventory to back it up that no arguments as long as the said camera is on the list! 4) If you change your kit and the sum insured changes and you have to change your policy most insurers charge a fee for any changes, this can be a very expensive issue if you change a lot of high value kit as usually you have to “name” items over 2k or so. Main thing is to be honest, and remember there is always an excess to pay on any claim. Yes it’s a dry subject but bad news if all your kit is stolen on holiday and you don’t have proper cover so be careful before you buy do the boring spreadsheet and know what you have before you pay for a policy. Lastly once you claim even for a few hundred quid expect to find your insurance will go up by more than the claim the next year from all insurers. It’s on really worth claiming for a proper amount of loss like 3k or so before it does not make a substantial difference because at that point most insurers will walk away and not offer you renewal. Sad fact. Hope that helps.

Sadly, the only way you find out how good or bad an insurer is, is when you have to make a claim. I had a flood in my house several years ago and the insurer you mention wasn't great. It took weeks to get replacement kit and the whole episode was very stressful.

Interesting topic Matt. My Leica gear is not insured because we’ve decided in general that if we take out the insurance and extended warranties on everything we buy then we’ll spend more on that than the occasional replacement. However, unlike a couple of hundred quid of umble drier or push bike the Leica gear being so expensive might be worth an exception.