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Camera Insurance
Camera Insurance
Written by
Tina Sendin
Edited by
Ellie Garran
Reviewed by
Adrian BennettCompare home and contents insurance the easy way
Save time and effort by comparing a range of home and contents insurance policies with iSelect
Long story short
Portable contents insurance keeps your camera safe on the go
Take your camera everywhere with you? Portable contents insurance means protection for your gear.
Extra coverage is available for your high-value items
Got a pricey DSLR? You can specify it in your portable contents policy (and pay a little extra to get a safety net that covers it).
If you’re a professional, you’ll generally need business or specialised photography insurance
Contents insurance has a few limitations that mean it’s usually not the best option for business use.
What is camera insurance?
You can insure cameras under lots of different types of insurance policies. Depending on how much you use and value your camera, you might choose to cover it under:
- portable contents cover (sometimes referred to as personal effects cover), either on top of your home insurance or as a standalone policy
- a standalone business or specialist photography insurance policy.
And if snapping pics is your bread and butter, you might want extra protection beyond just taking care of your tools of trade. It’s also worth thinking about getting financial protection in case you’re ever hit with legal dramas (what insurers call public or products liability).
Do I need insurance for my camera?
Cameras can be pricey. If you want to get the most out of yours without worrying about replacement costs if something were to happen, you’ll probably want to look into an insurance policy.
That said, the type of cover you might need depends on how you use your camera.
For enthusiasts
For those of us who dabble in photography, cameras can mean different things. Whether it’s a trusty sidekick or a fashion statement, we sometimes take it with us when we’re out and about.
But portable items – or things you typically take with you outside the house – aren’t generally covered by standard contents insurance. So getting an add-on portable contents (or personal effects) cover might be an option to help protect your gear while you’re on the go.
Just keep in mind, an exy piece – say a Contax – might need to be listed separately on your policy to cover its full value. Some insurers, for instance, require you to list an item if it’s more than $300.
It’s worth checking your policy for the maximum amount you’re covered for without listing your camera separately. Otherwise, you might run the risk of paying a large sum out of pocket to replace it.
And if you’re a frequent traveller, it’s a good idea to check whether your policy covers your camera away from home – both around Australia and overseas.
For professionals and businesses
Some contents insurance policies could cover your camera if it’s used as a ‘tool of trade’, but its restrictions and limits will mean this may not be a great option for most pros. For instance, the coverage limit is likely a fair bit lower than the cost of professional gear, and the policy would only apply to the gear when it’s not in use.
If you’re a pro behind the lens or running a photography gig, specialist camera or business insurance could be a good option. These types of policies could take care of your gear, as well as any work-related slip-ups. It could also help with costs if you accidentally damage someone’s property or they get hurt because of your work (what insurers call ‘legal liability’).
Some insurers even have policies made just for photographers and videographers, so it’s worth having a good look and making sure there aren’t any gaps in your cover.
For travellers
As we mentioned earlier, portable contents cover could take care of your beloved camera if you’re travelling. However, if your policy doesn’t quite satisfy your backpacking needs (say if it doesn’t include international travel or your trip goes for longer than stated in the policy), you could also look into travel insurance.
Some travel policies offer limits of around $3,000 to $6,000 per item for cameras. There can be some conditions and exclusions, though, like if the gear was stolen because it was left unattended in a public space.
Helpful tip
If your camera suddenly disappeared tomorrow, how soon could you afford to replace it? Insuring your camera ensures one less headache in an already stressful situation.
While cameras up to a certain value can be covered under portable contents insurance, it’s worth checking the product disclosure statement (PDS) to see exactly what it says about the coverage. Does it include all your camera equipment, gear, accessories, and even tech devices like laptops? Will getting portable contents cover protect you from loss or damage if you go overseas? What’s the maximum amount you can claim for your camera (or the ‘limit’, in insurance speak)?
If you’re still shopping around, make sure to compare the inclusions and exclusions for each policy. iSelect makes it easy to compare a range of policies side-by-side. You won’t have to do manual research and keep hundreds of tabs open!
Adrian Bennett
General Manager for General Insurance
What kind of insurance could cover my camera?
To cover your camera, you’ve got a few options. Standard contents insurance is a start if your camera usually stays on the shelf, but adding portable contents insurance – either on top of your home insurance or as a standalone policy – can protect your gear on the go, even potentially when you’re travelling overseas.
If you have gear that costs more than the policy’s standard limits, you may want to specifically list the items and their value to ensure you have adequate cover. Note, however, that it could also mean higher premiums.
You might also want to look into portable contents insurance, especially if you like to take your gear with you a lot. However, policies could differ in terms of the places it could cover. For instance, some give protection within Australia or New Zealand only, while others could insure your camera overseas. If your portable contents insurance policy doesn’t quite cut it, say, if you’ll be jetting off around the world for longer than your policy allows, then travel insurance could be another option.
And if you’re a professional using your camera for work, you’ll probably need specialist photography or business insurance to get suitable cover.
Again, be sure to check your PDS to see what’s actually covered!
What does insurance for my camera typically cover?
The answer to this question depends on whether you have portable contents cover, business insurance, specialist photography insurance, or travel insurance. And while it could vary between insurers, here are some ways insurance could cover your beloved gear.
What factors affect the cost of insuring my camera?
Your premium’s worked out based on a few things, like:
- the type of cover you pick
- any claims you’ve made before
- how much excess you choose
- any discounts you’re eligible for
- whether you pay in instalments or up-front for the year.
Frequently asked questions
Does insurance cover lost cameras?
Yes, but it depends on your policy. It’s always a good idea to check your product disclosure statement (PDS) to make sure that’s the case.
Can I insure a second-hand camera?
You can include your second-hand camera in your contents insurance. Depending on the price, you might have to list its value – especially if it costs more than the limit (or maximum amount you can claim for per item) specified in your policy. If you want it insured outside the house, you’ll need to consider potable effects cover, either as an add-on to your standard contents insurance or as its own policy.
Does renters insurance cover my camera?
Renters insurance is basically contents insurance for – surprise, surprise – renters. So if you have contents insurance (and an extra portable contents cover), then you’ve got a safety net for your camera.
Does travel insurance cover stolen cameras?
Some travel policies cover cameras if they get stolen. However, there are usually conditions and exclusions. For example, if your gear gets nicked because you left it unattended, you might not be covered.
Does home insurance cover cameras?
Many people think of ‘home insurance’ as one simple product, but we use it as an umbrella term for different types of coverage for your home, the contents inside, or a combination of both. So it includes building insurance (which only covers the – surprise, surprise – building), contents insurance (which protects your belongings), or a combined home and contents policy.
In this case, if we’re talking about contents insurance, then yes, it can protect your camera against unfortunate situations like damage, theft, or loss at home.
Contents insurance, as a type of home insurance, is up for grabs whether you’re a homeowner or renting. You can get it on its own or bundled with building insurance as a combined home and contents policy (building insurance alone won’t insure your camera as it only covers the property’s structure).
Plus, if you want to cover your camera and all the bits and bobs that go with it when you’re out and about, you can add portable contents cover too.
Is insuring my camera worth it?
Insurance can be worth it, but it depends on your situation. If you’ve invested in expensive gear or rely on your camera as your primary tool of trade, insurance can save you a lot of stress (and money) if something goes wrong. Here’s when it might be worth it:
- You’ve got pricey equipment: Replacing a high-end camera, lenses, and accessories can cost thousands. Insuring your flashy (literally and figuratively) camera can help cover theft, damage, or loss.
- You travel a lot: Whether it’s for work or fun, portable contents can protect your gear on the go.
- You’re accident-prone: If you’re the type to drop your camera or spill coffee on your gear, accidental damage cover could be a lifesaver.
- You use it professionally: If your camera is your livelihood, insurance can help you get back to work quickly after an incident.
That said, it’s also important to weigh the cost of the insurance against the value of your gear alongside the likelihood of needing to make a claim (and the excess amount you’ll pay if you do).
Comparing your options is a smart first step
Protecting your camera and gear doesn’t have to be complicated or costly. Whether it’s covered under contents insurance, portable contents insurance, or a mix of both, finding a suitable policy can make all the difference when accidents or surprises happen.
Not sure where to start? With the iSelect comparison tool, you can easily compare a range of policies and weigh up contents insurance options to find a policy that suits your budget. Don’t wait until it’s too late – check out your options today and get peace of mind for your precious gear.
Get started on comparing home and contents today!
Save time and effort by comparing a range of home and contents insurance policies with iSelect
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