A Costly Lesson: Protecting Your Gear with Proper Insurance Coverage
On a scorching July 4th in 2005, our family gathered around the pool, enjoying the summer heat. Eager to capture the joyful moments with the kids, I reached for my trusty camera, a Canon EOS 1DMKll, my prized possession. It was my very first digital camera investment. Little did I know that this day would teach me a valuable lesson about the importance of insurance coverage for my photography gear.
The Unexpected Plunge: As the day drew to a close and everyone prepared to leave, we gathered our belongings and made our way back to the house. Strapped over my shoulder, my camera dangled from its strap, while my hands were busy collecting towels and toys. Suddenly, the youngest grandkid, just a mere two years old at the time, took an impromptu detour toward the water and accidentally stumbled into the pool. Without hesitation, I dropped everything, rushed into the pool, and swiftly rescued her. It was then that I realized my camera had taken an unexpected plunge along with us. The camera, lens, and flash were completely submerged, leaving me sick to my stomach at the loss of my newest investment in this equipment.
A Race Against Time: After the initial shock wore off, I had to quickly devise a plan. At the time, I was working full-time from home and had a wedding assignment fast approaching. Determined to salvage the situation, I vowed to contact my insurance provider once the holiday was over. However, I also faced the looming challenge of attending East Coast School the following week, unsure of how I would manage without my essential gear. The clock was ticking, and I had only a week to find a solution.
An Insurance Letdown: With hope in my heart, I made the call to my insurance company, only to receive a devastating response. Despite my extra insurance coverage for my home-based business, they rejected my claim. The disappointment was profound, leaving me in a state of desperation. It was during this trying time that I decided to take matters into my own hands.
A Costly Investment: While attending East Coast School and surrounded by industry experts and vendors, I faced the grim reality of having to purchase an entirely new camera setup. The news from my insurance company forced me to make this costly investment to sustain my business needs. Although the lens survived the accident, the body and flash were deemed irreparable by Canon Pro Service.
The Crucial Lesson: This experience taught me a crucial lesson that I feel compelled to share. Understanding the scope of your insurance coverage is paramount. In my case, I believed I had taken all the necessary steps to protect my gear as a home-based business owner. However, the denial of my claim exposed the gaps in my coverage. It was a harsh wake-up call.
Protecting Your Investment: Following this ordeal, I took proactive steps to ensure the safety of my equipment. I added a marina policy that covered my gear not only at home but also on location. While I can't provide specific details regarding insurance terms, I implore you to reach out to your agent and inquire about your coverage. Are you protected if someone breaks into your car? Does your policy account for gear and personal injury during location shoots? These are questions we often overlook until it's too late, discovering that our coverage falls short.
The Final Blow: Ironically, had the camera belonged to a guest at my pool that day, the insurance company would have covered it. The unfairness of this revelation made my blood boil, highlighting the need for comprehensive coverage that aligns with our specific circumstances.
Conclusion: The incident with my camera taught me an invaluable lesson about the importance of understanding insurance coverage. Don't wait until it's too late to find out that your gear isn't adequately protected. Take the necessary steps to ensure your investments are safeguarded, whether it be through additional policies, extended coverage, or seeking advice from insurance professionals. Learn from my experience and spare yourself the anguish of an unexpected loss.
By Lisa H. Carter, M.,Cr.Photog.,CPP, FP,SP
Photography by Lisa, Inc.