Camera insurance
Expert tips for insuring your camera
Our home and contents insurance expert, Adrian Taylor, has some tips for photographers and videographers looking to insure their tools of the trade.
Adrian Taylor
Executive General Manager – General Insurance
Know the value of your equipment
It’s important that your chosen insurance policy will cover the full replacement value of your camera and photography equipment. To ensure you’re adequately insured, do a thorough stocktaking of all your equipment and how much it would all cost to replace, and then nominate an appropriate insured amount based on that total value.
Take out the right level of cover
Some business insurance products labelled as ‘photography insurance’ or ‘photographers’ insurance’ will only provide cover for legal liability in the event that you harm someone or damage property while photographing in a professional capacity. If you’re looking to insure your equipment against damage, you’ll need either a portable contents insurance policy (for amateurs) or a photography policy that includes cover for your equipment (for professionals).
Compare your options!
If you’re looking for a contents insurance policy that covers your camera gear against damage or theft, start your search by comparing! Our contents insurance comparison service is free and easy to use – and if you find a policy you like, we can help you switch to it too.
Camera insurance options for amateurs and professionals
To appropriately insure your camera equipment, you’ll need to pick an option that suits what you’re using it for. Professional photographers using their camera equipment for business purposes will generally have to take out a different type of insurance to those looking to insure personal camera equipment being used privately.
Always check the Product Disclosure Statement (PDS) of any insurance product you’re looking at for a concrete understanding of what it does and doesn’t cover.
Camera insurance for professional photographers and businesses
Photographer insurance, also called photography insurance by some insurers, is a type of business insurance designed for professional photographers and videographers. It provides legal liability cover for damage or harm you might accidentally cause to others or their property while conducting your business and can also cover your camera/gear.
For example, someone could trip over your equipment and hurt themselves, or you might accidentally damage someone’s home or belongings while on the clock. If someone has to make an insurance claim for damage or harm you caused while working, a photography insurance policy could help you to foot the bill.
Photography insurance can also provide cover for your camera and equipment. Depending on the policy and provider, a photography insurance policy may include this cover as standard, or it may be an optional cover you can add for an additional premium.
Specialist insurance providers
Some specialist insurance companies and insurance brokers provide insurance products specifically tailored for professional photographers and those with pricy cameras and camera equipment. These insurers may specifically cater to photographers and videographers, or they may simply offer contents insurance policies suitable for expensive items like cameras.
If you’re looking at taking out an insurance policy with a specialist insurer, be sure to read the PDS and policy wording carefully to make sure you’re getting the cover you want and need for your camera(s).
Camera insurance for individuals and amateur photographers
When it comes to insuring your camera and gear as a non-professional, a contents insurance policy could be a suitable option for you. However, depending on the individual values of your camera(s) and camera-related items, you may find that a standard content insurance policy’s basic per-item limits are too low to cover the full replacement value of some or all of your camera gear.
In this case, you may be able to pay an additional premium to list specific items as insured under your contents insurance policy, and be covered for their full replacement costs if they’re damaged, stolen or lost.
Additionally, you’ll want to decide whether you want your camera equipment insurance to be portable or not. Portable contents cover could be a useful option if you regularly leave the house with your camera and photography equipment.
In addition to providing cover for your camera, a contents insurance policy may provide cover for, or could potentially be customised to provide cover for, camera- and photography-related items such as:
- Hard drives
- Camera lenses
- Camera bags
- Laptops
Read the PDS of any contents insurance policy you’re looking at taking out, in order to know exactly what you would and wouldn’t be covered for under that policy.
Camera insurance for international travel
If you’re looking specifically to insure your camera and/or camera gear against damage, loss or theft for the duration of an upcoming domestic or overseas trip, a travel insurance policy could be an option worth exploring.
While a comprehensive travel insurance policy may typically provide between $1,000 and $4,000 in per-item cover for cameras, laptops and video recording devices, you may be able to pay an additional premium to increase these limits if needed.
Note that exclusions may apply; travel insurance typically won’t cover equipment being used in a professional capacity, or gear that wasn’t properly secured/stored. If you’re a professional photographer looking to take out international travel insurance covering your camera equipment, you’ll typically need to take out a business or ‘corporate’ travel insurance policy.
Meet our home and contents expert, Adrian Taylor
As the Executive General Manager of General Insurance at Compare the Market, Adrian Taylor works to make it easier for homeowners, renters and landlords to protect their home and contents. He believes it’s important for all residents (whether they rent, own or lease) to have adequate financial cover for their property and belongings in case the worse should happen.