Insuring your camera
Insuring your camera
Here’s a question for you: will your home contents or personal possessions insurance cover the cost of your camera if you lose it? And if your camera were to get lost or stolen, could you afford to replace it?
If I lose my camera, won’t my home contents insurance cover it?
That very much depends on your policy. Nearly all contents insurance policies will be able to cover your camera against loss or damage – you just need to check you’ve bought the right cover to get the protection you want.
Everyone’s policy will differ, of course, but most have a single-item limit – that is, a cap on how much you can claim for one item. At Compare the Market, we ask for any items worth more than £1,500 to be specified on your quote – but this limit does vary among providers. So, if you have a camera worth £2,000, you’ll need to add it to the quote to make sure it’s covered. You’ll also be able to say if you want cover for taking your camera outside.
For cameras worth less than £1,500 that you want to take out and about with you, look to add Personal Possessions cover to your quote. Personal Possessions covers general items you take out and about with you against loss or damage.
There’s no doubt we love our photography – experts have estimated that some 1.2 trillion photographs were taken in 2017 alone. And over 95 million photos and videos are shared on Instagram per day.
So, if you’re one of the country’s keen photographers, there are some questions you might want to ask of your existing policy:
- is your equipment covered for accidental damage?
- is your camera covered if it’s stolen?
- is your camera covered if it’s lost?
Should I get camera insurance?
Most insurance providers have options for covering personal possessions outside the home. Having personal possessions insurance for your camera could mean that you're covered for:
- loss or theft outside the home
- damage outside the home
There may be some restrictions on cover, for example theft from a car may require the item to have been stored out of sight for cover to be in force. Make sure you're familiar with the personal possessions exclusions in the policy booklet.
How much would insuring my camera cost?
How much you end up paying will depend on the policy options you choose.
It’s worth compiling a list of all the photography equipment you own. Don’t forget to include any props and accessories – the total value could add up to more than you think.
When you have a good idea of what your camera equipment and the rest of your household contents are worth, you can complete a quote and perhaps be one of the 50% of customers who save up to £103.**
**Based on Online independent research by Consumer Intelligence during May 2020 50% of customers could save up to £103.62 on their home insurance premium.