Media Equipment Insurance FAQ
Many media professionals & companies have invested heavily in high-quality cameras, lens and sound equipment. Any damage or loss of these valuable gear can be a heavy cost to bear.
An Equipment-All-Risk insurance policy can take care of the repair cost or get you a replacement set if the item is stolen or damaged beyond repair. Here's some information that may help you decide if such a policy is suitable for you.
Qn: Can I bring my gear overseas? An Equipment-All-Risk policy is underwritten to cover one of the following territorial limits:
Within your home country,
Within Asia or
Worldwide
If you are a frequent traveler, a Within Asia or Worldwide plan will be more suitable.
In the event that you are bringing your gear outside of the territorial limits of your policy, you can extend the coverage of your policy by getting an endorsement from the insurer of the policy. A small fee will be charged for each endorsement.
Qn: Should I get annual or short-term coverage? Short-term covers are meant for specific projects. Most equipment owners have multiple shoots throughout the year, and would make huge savings from getting an annual plan.
Qn: Do I need to buy insurance for rented equipment? Insurance for rental equipment is a tricky situation! It really depends on the terms stated in the written contract that you sign with the rental house.
If the contract states that you would be held responsible for any damage to the equipment, it will be wise for you to get short-term equipment insurance for the rented equipment or include rented equipment in your annual equipment insurance policy.
Contact Starlight for more information on how to handle this.
Qn: What if my equipment injures a passerby? Does the policy protect against injury or damage to 3rd parties? An Equipment-All-Risk policy is designed specifically for the protection of your equipment and does not insure against bodily injury or property damage to 3rd parties.
Here are some examples of insurance policies that are meant to protect against claims from 3rd parties: Public Liability, Film Production All Risk and Event All Risk.
Qn: What conditions are not covered by the policy? - Cost of replacing defective materials due to design fault
- Damage due to artificially generated electrical current
- Damage due to wear & tear, changes in temperature, inadequate operation
Qn: What should I do when my equipment is damaged? How can I file for an insurance claim?
Follow these steps:
Take a photo of the damaged equipment immediately
Email the photo to us to establish the date of damage
Fill up the policy Claim Form
Send the damaged equipment to a reputable repair center for assessment. Email us the assessment report & repair quote
You may proceed with the repair after the insurer has given their approval
For damages caused by airport handling, please make a report with the airport authorities, as the insurer will require a copy of it. For losses caused by theft, a police report is needed.
Tip: Keep the purchase receipts of all your insured items. Proof of purchase will be required during claims.
For more information, please go to our Equipment page.
About Starlight
We have been the trusted partner for many business owners & freelancers in the creative industry since 2011. We help
business owners acquire cost-effective insurance coverage such as Film-All-Risk, Public Liability, Equipment-All-Risk, E&O.
professionals & students power-up their careers through career exploration, resume & portfolio review, interview preparation & job matching.
To find out more, please visit our website www.starlightmediaconsultants.com or contact us directly.