Insurance -- the big discussion thread

Paul Moore · April 6th, 2004, 02:30 PM

Thank you. I also know the question marks dont get a faster reply. It shows the state of confusion im in with this subject.

oh by the way when u say u dont want to sound like something you normally do ;)

We are shooting in little towns in NJ which dont seem to have a clue about what we need. Most places are just requiring letters to the Police just so they know whats going on.

Bill Ball · April 6th, 2004, 03:02 PM

If you are taping in New Jersey you should check out the guidelines on the state film commission web site:

http://www.njfilm.org/

Which basically say that you should have a $1 million general liability policy to tape on state owned property and that small cities may not have any idea about this (which is obviously what you discovered on your own).

I found the best deal on a simple policy like that from my personal insurer (NJ Manufactirer's). So check with your insurance company.

By the way I received an abrupt refusal to do a simple handheld taping in Princeton Battlefield Park, which is the last thing I expected to get from a state park. But it was easier to find another state park that wasn't so overprotective than to complain. So you do get a wide variety of responses to even simple requests.

I am in the Trenton-Princeton area so if you are looking for locations around here e-mail me at ball@tcnj.edu and maybe I can help out.

Paul Moore · April 6th, 2004, 04:44 PM

Thanks Bill i found that site a little while ago. Thats strange that they wouldnt let u film there. I recall a few years ago when they were shooting IQ there in the park. I guess it had more to do with how much u could give them than anything.

Josh Bass · April 19th, 2004, 01:54 PM

Raaaha Rraaahaa! That's the sound of this thread being resurrected from the dead.

In another thread, someone mentioned a company called safeware (http://www.Safeware.com) that they used to insure their gear. I called them, and apparently how it works is, they specialize in insuring your COMPUTER, and the video gear counts as a peripheral (ha!). However, I am SOL as my computer was bought about 4 years ago, and they won't insure anything over 3 years old, and hence, they won't insure they video gear either.

I've checked with AAA, they won't do it. I've checked with the homeowner's policy (I am not the homeowner, I only reside with them--pathetic, huh?) they won't do it. I actually have quite a bit of gear, and what it's worth and what I paid for it could be disputed, since I bought a lot of it used, but I still have quite a bit.

Any other ideas on how to get some insurance for it, besides methods already discussed, and those mentioned in other threads? Is there a secret I don't know about?

Rob Wilson · April 19th, 2004, 01:59 PM

Josh,

I checked with State Farm (didn't have any other policies with them). They issued a policy that covers all my gear (Camera/Field, Editing and Computers) for replacement value. I had to provide a list of what I had and the current retail replacement cost. The policy covers 100% minus $500 deductable. $80K worth cost about $800/yr.

Josh Bass · April 19th, 2004, 03:08 PM

OK, thanks. . .that sounds ok, since I my stuff is worth significantly less than that. . .

Is that rate you mentioned a. . .constant? That is. . .It costs $100 to insure per $10,000 woth of equipment?

Do I need to do anything special if I contact them? You said you didn't have any other policies with them. They don't care if it's for business or personal use (technically, mine would go under both, though I haven't made too much money from it)?

Josh Bass · April 19th, 2004, 04:40 PM

Well, thank you VERY much! I just got off the phone with State farm, and yes, they do do exactly what you said--it's called a personal articles policy, and it's pretty well priced, covered against everything, everywhere, and you don't need a previously existing policy.

So maybe put this in a separate thread, or article, or something, so next time someone asks if they can get equipment insurance, bingo! You point them here. Thanks.

Dave Largent · April 19th, 2004, 07:47 PM

Josh, a few questions.
Did they inquire as to whether it was for business or
personal use? Do they need a list of everything?
Does it cover theft from your car, say, if you were
traveling away from home?

Rob Wilson · April 19th, 2004, 08:57 PM

Dave,

The agent I worked with said that it covers it no matter what! Lost, stolen, from home, car... Dropped over a cliff, you name it. Not usually a big fan of insurance but this policy really gives me piece of mind.

Josh Bass · April 20th, 2004, 12:26 AM

Yes, absolutely. The only thing that matters with the business/personal thing is the rate--I guess it's a little more for professional use. Yes, covered away from home, from all kinds of damage, disaster, theft, whatever. Can't believe I didn't know about this before! I can't stop using exclamation points!!!!!

Yes, they do need a list of all items you want insured, with their value. Here's where I got a little perplexed. I swear they said they wanted me to have it appraised? How? By whom? Maybe Rob can enlighten us. I've bought a lot of my gear off eBay, and I don't know if they want the eBay price, or the retail price for that item new. I still don't know how you'd get it appraised--it's not jewelery.

Rob Wilson · April 20th, 2004, 07:45 AM

I provided an excel spreadsheet that listed each item I wanted covered and it's current retail replacement value. Bottom line is, if your house burns down and you loose everything, the total dollar value you have a policy for should cover the actual retail replacement cost for anything you would want to replace. I too have made some great deals on Ebay but in the event of a catastrophic loss, I wouldn't be able to duplicate those buys and would be ordering all new gear from retail sources so make sure you're covered.

Josh Bass · April 20th, 2004, 08:39 AM

And State Farm is okay with and understands that?

Rob Wilson · April 20th, 2004, 09:24 AM

Yep, it's a "replacement value" policy.

Josh Bass · April 20th, 2004, 04:15 PM

Okay, here's one for you: what if what you bought can't be bought retail anymore?

Examples:

My sachtler DV4 tripod: now they only make the Sachtler DV4II--the upgraded model--not exaxtly the same thing

My monitor: A sony PVM 14M2U. Looked on B&H's site, and they don't seem to stock any new ones. I'm generally of the opinion that if B&H doesn't have it, no one does (especially with monitors). I know this is an older model, but that's not the point. I paid $400 for it used.

By the way, on my PC: This thing is technically four years old. Over that time, I've "updated" almost every component, save for the video and sound cards, keyboard, and monitor. I guess I have to research exactly how much each individual component costs? Fun!

Rob Wilson · April 20th, 2004, 04:24 PM

Josh,

While I'm not an insurance expert, my understanding (based on what the agent explained to me) is that they will pay to replace your equipment with the same OR currently available comperable gear. My specific question to him was, I have a DSR 500. No longer produced and replaced by the 570. If mine were to be "lost", they would replace it (up to the value I reported) with a 570. Thats why I listed full retail value (MSRP) for all my gear. In most cases, the newer gear is priced the same (or sometimes slightly less) but has a better feature set. If you do suffer a loss, you may well end up with better gear in the end!

April 19th, 2004, 01:54 PM	#154
Josh Bass Slash Rules! Join Date: Apr 2002 Location: Houston, Texas Posts: 5,472	Raaaha Rraaahaa! That's the sound of this thread being resurrected from the dead. In another thread, someone mentioned a company called safeware (http://www.Safeware.com) that they used to insure their gear. I called them, and apparently how it works is, they specialize in insuring your COMPUTER, and the video gear counts as a peripheral (ha!). However, I am SOL as my computer was bought about 4 years ago, and they won't insure anything over 3 years old, and hence, they won't insure they video gear either. I've checked with AAA, they won't do it. I've checked with the homeowner's policy (I am not the homeowner, I only reside with them--pathetic, huh?) they won't do it. I actually have quite a bit of gear, and what it's worth and what I paid for it could be disputed, since I bought a lot of it used, but I still have quite a bit. Any other ideas on how to get some insurance for it, besides methods already discussed, and those mentioned in other threads? Is there a secret I don't know about? __________________ The Bass' camerawork The Bass on IMDB

April 19th, 2004, 03:08 PM	#156
Josh Bass Slash Rules! Join Date: Apr 2002 Location: Houston, Texas Posts: 5,472	OK, thanks. . .that sounds ok, since I my stuff is worth significantly less than that. . . Is that rate you mentioned a. . .constant? That is. . .It costs $100 to insure per $10,000 woth of equipment? Do I need to do anything special if I contact them? You said you didn't have any other policies with them. They don't care if it's for business or personal use (technically, mine would go under both, though I haven't made too much money from it)? __________________ The Bass' camerawork The Bass on IMDB

April 19th, 2004, 04:40 PM	#157
Josh Bass Slash Rules! Join Date: Apr 2002 Location: Houston, Texas Posts: 5,472	Well, thank you VERY much! I just got off the phone with State farm, and yes, they do do exactly what you said--it's called a personal articles policy, and it's pretty well priced, covered against everything, everywhere, and you don't need a previously existing policy. So maybe put this in a separate thread, or article, or something, so next time someone asks if they can get equipment insurance, bingo! You point them here. Thanks. __________________ The Bass' camerawork The Bass on IMDB

April 20th, 2004, 12:26 AM	#160
Josh Bass Slash Rules! Join Date: Apr 2002 Location: Houston, Texas Posts: 5,472	Yes, absolutely. The only thing that matters with the business/personal thing is the rate--I guess it's a little more for professional use. Yes, covered away from home, from all kinds of damage, disaster, theft, whatever. Can't believe I didn't know about this before! I can't stop using exclamation points!!!!! Yes, they do need a list of all items you want insured, with their value. Here's where I got a little perplexed. I swear they said they wanted me to have it appraised? How? By whom? Maybe Rob can enlighten us. I've bought a lot of my gear off eBay, and I don't know if they want the eBay price, or the retail price for that item new. I still don't know how you'd get it appraised--it's not jewelery. __________________ The Bass' camerawork The Bass on IMDB

April 20th, 2004, 08:39 AM	#162
Josh Bass Slash Rules! Join Date: Apr 2002 Location: Houston, Texas Posts: 5,472	And State Farm is okay with and understands that? __________________ The Bass' camerawork The Bass on IMDB

April 6th, 2004, 02:30 PM	#151
Paul Moore Regular Crew Join Date: Jul 2003 Location: Morrisville, PA Posts: 30	Thank you. I also know the question marks dont get a faster reply. It shows the state of confusion im in with this subject. oh by the way when u say u dont want to sound like something you normally do ;) We are shooting in little towns in NJ which dont seem to have a clue about what we need. Most places are just requiring letters to the Police just so they know whats going on.

April 6th, 2004, 03:02 PM	#152
Bill Ball Major Player Join Date: Jan 2004 Location: NEW JERSEY Posts: 216	If you are taping in New Jersey you should check out the guidelines on the state film commission web site: http://www.njfilm.org/ Which basically say that you should have a $1 million general liability policy to tape on state owned property and that small cities may not have any idea about this (which is obviously what you discovered on your own). I found the best deal on a simple policy like that from my personal insurer (NJ Manufactirer's). So check with your insurance company. By the way I received an abrupt refusal to do a simple handheld taping in Princeton Battlefield Park, which is the last thing I expected to get from a state park. But it was easier to find another state park that wasn't so overprotective than to complain. So you do get a wide variety of responses to even simple requests. I am in the Trenton-Princeton area so if you are looking for locations around here e-mail me at ball@tcnj.edu and maybe I can help out.

April 6th, 2004, 04:44 PM	#153
Paul Moore Regular Crew Join Date: Jul 2003 Location: Morrisville, PA Posts: 30	Thanks Bill i found that site a little while ago. Thats strange that they wouldnt let u film there. I recall a few years ago when they were shooting IQ there in the park. I guess it had more to do with how much u could give them than anything.

April 19th, 2004, 01:59 PM	#155
Rob Wilson Major Player Join Date: Dec 2002 Location: Flagstaff, AZ Posts: 473	Josh, I checked with State Farm (didn't have any other policies with them). They issued a policy that covers all my gear (Camera/Field, Editing and Computers) for replacement value. I had to provide a list of what I had and the current retail replacement cost. The policy covers 100% minus $500 deductable. $80K worth cost about $800/yr.

April 19th, 2004, 07:47 PM	#158
Dave Largent Trustee Join Date: Aug 2003 Posts: 1,483	Josh, a few questions. Did they inquire as to whether it was for business or personal use? Do they need a list of everything? Does it cover theft from your car, say, if you were traveling away from home?

April 19th, 2004, 08:57 PM	#159
Rob Wilson Major Player Join Date: Dec 2002 Location: Flagstaff, AZ Posts: 473	Dave, The agent I worked with said that it covers it no matter what! Lost, stolen, from home, car... Dropped over a cliff, you name it. Not usually a big fan of insurance but this policy really gives me piece of mind.

April 20th, 2004, 07:45 AM	#161
Rob Wilson Major Player Join Date: Dec 2002 Location: Flagstaff, AZ Posts: 473	I provided an excel spreadsheet that listed each item I wanted covered and it's current retail replacement value. Bottom line is, if your house burns down and you loose everything, the total dollar value you have a policy for should cover the actual retail replacement cost for anything you would want to replace. I too have made some great deals on Ebay but in the event of a catastrophic loss, I wouldn't be able to duplicate those buys and would be ordering all new gear from retail sources so make sure you're covered.

April 20th, 2004, 09:24 AM	#163
Rob Wilson Major Player Join Date: Dec 2002 Location: Flagstaff, AZ Posts: 473	Yep, it's a "replacement value" policy.

April 20th, 2004, 04:15 PM	#164
Josh Bass Slash Rules! Join Date: Apr 2002 Location: Houston, Texas Posts: 5,472	Okay, here's one for you: what if what you bought can't be bought retail anymore? Examples: My sachtler DV4 tripod: now they only make the Sachtler DV4II--the upgraded model--not exaxtly the same thing My monitor: A sony PVM 14M2U. Looked on B&H's site, and they don't seem to stock any new ones. I'm generally of the opinion that if B&H doesn't have it, no one does (especially with monitors). I know this is an older model, but that's not the point. I paid $400 for it used. By the way, on my PC: This thing is technically four years old. Over that time, I've "updated" almost every component, save for the video and sound cards, keyboard, and monitor. I guess I have to research exactly how much each individual component costs? Fun! __________________ The Bass' camerawork The Bass on IMDB

April 20th, 2004, 04:24 PM	#165
Rob Wilson Major Player Join Date: Dec 2002 Location: Flagstaff, AZ Posts: 473	Josh, While I'm not an insurance expert, my understanding (based on what the agent explained to me) is that they will pay to replace your equipment with the same OR currently available comperable gear. My specific question to him was, I have a DSR 500. No longer produced and replaced by the 570. If mine were to be "lost", they would replace it (up to the value I reported) with a 570. Thats why I listed full retail value (MSRP) for all my gear. In most cases, the newer gear is priced the same (or sometimes slightly less) but has a better feature set. If you do suffer a loss, you may well end up with better gear in the end!