Tuesday, May 4

Works For Me Wednesday-Digital SLR Camera Replacement

My husband used to work in insurance, so he knows a lot about--wait for it............insurance! 

We just bought a new digital SLR camera.  Although it was purchased through many a gift card given to us for birthdays and other occasions, should something happen to the camera, whether it was stolen or damaged in some way, it would be very costly to replace--AKA it would take a really long time to save to replace it. 

He mentions to me the other day that I need to call our insurance agent and request to add our new camera to our personal articles policy.  Of course the camera would be covered under our standard homeowners policy, but that has a large enough deductible that it would not be worth it to file a claim. 

So basically, you can add a high ticket item and pay it's own premium and that item is completely separate should something happen to it.  Our premium for our new camera is about $14 a year.  A year.  So heaven forbid the camera gets dropped or the Peanut spills milk on it or it gets stolen, or whatever, we simply have to pay our small deductible of $100 and the camera will be replaced!  I had no idea we could do this, and I am guessing a lot of others don't know this either!

Insuring your digital SLR camera definitely Works For Me


Melissa said...

I did not know this! Wonder if my husband would want to add our computers..or rather his laptop. Or expensive phone. I'm mentioning this to him now. Thank you!

Kathleen@so much to say, so little time said...

What camera did you buy, just out of curiosity?

The Halbert Home said...

I am glad to have this info. Something to keep in mind is the depreciation of your camera. I purchased a Nikon D100 in 2004 and when it broke in 2008 it was worth 1/3 of what I initially paid and cost more to fix than it was worth. Do they give you the value of the camera when it was insured or when it breaks?

Melinda said...

Just found your blog today and really enjoyed browing. On the camera, double check that they would pay you the replacement value, not the value of the camera itself. This is a great idea, I am going to check into it for my digi SLR.

Jackie said...

Melinda/The Halbert Home-

It is replacement value...you insure it for the amount you purchased it for.


We purchased the Nikon D5000. It does video too, so we are excited. :)


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