Orquid "Phoenix"

Orquid "Phoenix"

by ceinmart

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I am thinking about renting a couple for expensive lenses ($900+) from Adorama. I'll be visiting NYC from Chicago. They state on their rental page.

We do not provide Insurance. We strongly encourage renters to obtain an insurance policy, especially if you rent frequently or when the replacement value of your orders is high.

Where can I obtain an insurance policy to cover these lenses? Will my (Chicago) home owners insurance cover it? It seems like a weird coverage because I don't technically own the lenses.

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Here in Minnesota, my insurance company(state farm) will not insure equipment rentals of any kind. They told me technically the state requires you to lease or own it to insure camera equipment. I use lensrentals.com and buy insurance from them instead. –  dpollitt Aug 15 '11 at 19:01
    
Turns our my insurance company (allstate) is in the same boat. No rental coverage at all. –  Thanh Aug 15 '11 at 22:01
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4 Answers

up vote 2 down vote accepted

Most homeowners policies have a limit to the amount of photography equipment and electronics are covered under the policy, a total of $1000 is common. Also you will take a 'hit' on your homeowner's policy if you do have any sort of claim.

Call your agent or find an agent with another firm and look into getting a rider for your homeowner's policy or an inland marine policy that will cover rented equipment.

Here is a good post that explains the differences http://photo.net/learn/insurance (The comments are great)

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Very interesting comments in that link. Thanks for that. –  Thanh Aug 15 '11 at 20:34
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Have you tried a place like borrowlenses.com or lensrentals.com that offer insured lens rentals? They have good reputations and can offer the insurance at the time of rental. In general, its an easier option to purchase and, if something happens, to deal with the consequences of.

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I have, but the shipping fees typically are double the cost of the rental for the time frame I am looking at. I am wondering if there are any other reputable lens renters in NYC that offer insurance. –  Thanh Aug 15 '11 at 18:25
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Be very careful and closely read everything stated on any companies web site, then closely read and make sure you fully understand the insurance provided by the rental company. It is very rare for a rental company to cover theft or loss. –  Dave Nelson Aug 15 '11 at 18:51
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Your homeowners or rental policy is the place to start.

Call your insurance agent and see if your policy will cover loss or damage to rented property, and specifically rented camera lenses (policies always have a lot of exceptions). Your policy probably likely already does to some extent.

If your existing policy doesn't cover you to what you think is a sufficient level, you can probably get additional coverage for the rented stuff for dates you'll have the lens.

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Note, this completely depends on your localities laws. This doesn't hold true in Minnesota(according to my State Farm agent). –  dpollitt Aug 15 '11 at 18:57
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Homeowners Insurance (AllState) does not cover rental equipment. Borrow lens requires additional coverage for the expensive lens and do not offer coverage for loss/theft and they require this additional proof of coverage. Rental insurance looks complicated and expensive where owning the gear and adding to home insurance is reasonable.

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Jake, don't understand your second sentence at all. "Borrow lens"? requires coverage and does not offer coverage and requires proof of coverage? Can you edit or clarify what you're saying? –  MikeW Sep 13 '13 at 0:35
    
I think what he means is that anything not your own isn't covered unless you can hand over proof that it was in your posession at time of loss. Essentially the same as many insurance policies not covering loss of visitors' posessions. –  jwenting Sep 13 '13 at 6:47
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