How much do camera policies cover photography equipment for?
The maximum amount of coverage that any insurance policy affords is generally stipulated by its limit(s). For camera policies, there’s usually a scheduled equipment limit and an unscheduled equipment limit.
The scheduled equipment limit typically applies to more expensive gear, such as individual equipment valued at $2,000 or more. This equipment normally must be documented, including each item’s make, model, serial number and replacement cost.
Items that are on the scheduled list typically get covered for the replacement cost that’s noted, or a value approximately similar. Each of these can have its own individual limit.
The unscheduled equipment limit typically applies to less expensive gear, such as more affordable cameras and accessories. This equipment is normally covered on an individual basis for up to the schedule requirements (e.g. perhaps $2,000), or the equipment’s value/replacement cost. There’s also a total unscheduled limit that applies to all gear not specifically listed on the policy’s schedule.
What’s required to be scheduled and what the limits are varies from policy to policy. An insurance agent who specializes in these policies can help photographers select limits that provide full protection for their gear, and make sure any gear that needs to be listed is noted on the policy’s schedule.