Am I Covered? "I sent my lens to the manufacturer for service and it was damaged in shipping.&q

There is no exclusion under a Business Owners Policy (BOP) or an Inland Marine for this scenario. However, with the BOP, the shipment would need to be within the coverage territory (U.S., Puerto Rico, and Canada)…not an overseas shipment. Also, in some BOP's there maybe language excluding property in the custody of the United States Postal Service. It is recommended that a private shipper like Fedex or UPS is used. Both BOP and Inland Marine will pay for a repair. If it is damaged beyond repair, the BOP will provide Replacement Cost Value (RCV) coverage the Inland Marine will provide Actual Cash Value (ACV). Lastly, the lens must belong to the named insured. In other words, if it’s someth

Why do I need business insurance to cover my gear? - My gear is insured on my renters (homeowners) p

I just spoke with a professional photographer who is a member of the American Society of Media Photographers. She asked the above questions. Answer below: I appreciate your belief that your renters (homeowners) insurance policy covers your equipment. Even though you scheduled your equipment it is most likely limited to $200 off premises. Because you use your camera equipment for your business, there are limitation and/or exclusions in your renters insurance policy. Regarding personal property (Coverage C), most renters (homeowners) policy's say: "limitations apply to the following groups of personal property...the total amount of coverage for each group in any one loss is as follows: Prope

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