Photography is no longer the domain of only the professional photographer. As cameras and equipments have become more affordable – and perhaps more importantly – the ability increased to edit photos, many more people have seen themselves as having an eye for the perfect picture.
Many of these amateur photographers might not yet have the skill, expertise or experience to create a professional portfolio – but they do have the money to buy expensive equipment and talk the talk.
Do we know much about insuring photographic equipment?
I decided to enquire about the insurance of cameras and photographic equipment and decided it is best to approach the professionals. I have discovered that there are companies specializing in the insurance of photographic materials and would like to share some information from one of these insurers
Artinsure has pioneered a new specialised product for the photographic market – Artinsure Photographer. Until the introduction of Artinsure Photographer, there has been no comprehensive insurance product for professional and enthusiast photographers, as well as videographers.
Many photographers are not aware that most policies are not comprehensive and do not offer full coverage due to the specialist nature of their equipment.
In fact an ordinary ‘all risk’ policy will not cover the normal risks that photographers encounter and could leave them exposed and out of pocket.
True to their core value added offerings, Artinsure Photographer offers expert advice and knowledge of the photography market, specialist repairs and replacement, as well as a tailored offering to meet the unique needs of the market.
What are the questions most asked by photographers about insuring their equipment?
1. Why does photographic and electronic equipment need to be separately insured?
We provide comprehensive cover against physical loss or damage to the equipment on a worldwide basis. Standard policies are not comprehensive and do not offer full coverage due to the specialist nature of photographic equipment. An ordinary ‘all risk’ policy will not cover all the risks that photographers encounter and could leave them exposed and out of pocket.
2. Why doesn’t the domestic or commercial policy cater for the client’s needs?
Photographers have found great difficulty in securing appropriate cover as the extension to domestic policies lead to lack of cover in view of business use, unattended vehicle cover and worldwide exposure. There is a high degree of dissatisfaction with the insurance industry in this sector in view of the poor response to claims.
3. What is the process to get a quote?
We work closely with brokers and their clients to ensure delivery of the best solution. Please e-mail us the values, risk address, security and relevant claims record and we will provide a same day quotation.
4. What do we do if our client has a claim?
Our claims process is our expertise. Let us know as soon as possible (the earlier the better to minimise loss) and we will take over the process with the key aim of making this a smooth process that returns your client to the same financial position they were in prior to the claim.
5. What happens if an insured item is damaged or stolen?
It will be sent to South Africa’s leading photographic equipment provider Orms (www.orms.co.za) to manage the repair process. If it is not repairable, a total loss is declared and Orms will supply a replacement of the same brand and specification. If equipment is stolen, Orms will supply a replacement of the same brand and specification.
6. Is there a policy excess?
Yes, we have standard policy excesses which are detailed in the policy.
7. Can you insure all types of equipment?
Yes, all equipment used by the photographer in pursuit of photography can be covered. This includes camera, video, computer equipment, lighting, props, portfolios, image capture media and electronic equipment.
8. How expensive is it?
Most photographers take care of their property and usually employ higher than average levels of security. Our unrivalled expertise in this area, allows us to offer extremely competitive pricing.
9. Is there a minimum sum insured?
No, there is not but we do apply minimum premiums of R298 monthly.
10. What commission do you pay and do you charge policy, administration or debit order fees
All premiums quoted contain a 20% commission payable to the broker. We do not charge additional fees. Brokers with whom we deal may charge additional declarable fees.
Artinsure serves a wide range of clients from the enthusiast to top professionals, through brokers. Specialist skills offered by trained experts have ensured that Artinsure is the preferred insurance provider for photographic equipment and is endorsed by leading associations, camera clubs and equipment suppliers.
If you’d like to know more about Artinsure, visit our website at www.artinsure.co.za.
Or Call 086 1111 096
086 1111 096
[Authorised Financial Services Provider FSB License Number 36954, Underwritten by Hollard Insurance]
What are the the insurable interest or photographic materials to be insured?
The key coverage areas are:
1. Theft of the property insured (when not from a vehicle)
2. Theft of the property insured when from a vehicle
3. Accidental damage to the property insured
4. Hire of equipment
5. Accidental damage to or theft of your portfolio
6. Accidental damage to or theft of your film stock
7. Deterioration of film stock
8. X – ray scanning
9. Processing loss
10. Accidental damage resulting in reshoot costs*
11. Accidental damage to or theft of property at exhibitions*
12. Unwitting handling of stolen photographic equipment
13. Public liability*
* Only apply to Professional Photographers
[We will continue to discuss camera insurance in depth on this Blog]