Our Owned Equipment policy is designed to cover your owned production equipment gear. It will also cover financed/leased equipment, and rented equipment.
About the Owned Equipment Policy
- The policy is available for a 6 Month or Annual term
- The policy will cover up to $750,000 worth of gear. If you require limits above that amount, reach out to us.
- Optional coverages include
- Rented Equipment
- Rental House Loss Of Use Coverage
- Rental Reimbursement
- Water Use coverage
- False Pretense coverage
- Theft from Unlocked Vehicle Coverage
- The policy offers world-wide coverage while the equipment is in use, storage or transit
What This Policy Covers
- Cameras, camera equipment, sound, lighting and grip equipment, communications equipment, portable electric equipment, editing and projection equipment, office personal property, generators, mechanical effects equipment, props, sets, wardrobes, dance equipment and similar personal property and related production equipment.
Covered Causes of Loss
- Theft, Fire, Earthquake, Flood, Acts of Terrorism, Smoke, Water Damage, Falling Objects, Equipment in Transit, Lightning, Explosion, Windstorm, Hail, Accidental Damages (scratches, dropping, etc.), and more
Policy Exclusions to Note
- Acts or decisions, Consequential Loss, Dampness, Dryness, or Extremes of Temperature, Dishonesty, False Pretense (voluntary parting), Governmental Action, Hidden or Latent Defect, Mechanical Breakdown, Insects, Vermin, Negligent Work, Nuclear Hazard, Pollutants, Rust, Oxidation, Corrosion or Discoloration, Unauthorized Transfer, War or Military Action, Wear and Tear.
- Theft from an unlocked vehicle is excluded, unless you add 'Theft From an Unlocked Vehicle' coverage (an unlocked vehicle is considered to be a vehicle where equipment was taken with no signs of forcible entry)
- Equipment coverage while afloat, submerged or underwater is excluded, unless you add the 'Water Use' endorsement
- There is a max per claim limit of $25,000 while in Mexico, unless you increase the Mexico Limit
- There is a max limit of $100,000 for equipment while in a vehicle
- Standard Domestic Deductible is determined by your policy limit (between $500 and $2,500)
- International Deductible is determined by the policyholder (between $1,000 and $5,000)
- Theft from any Vehicle Deductible is determined by the policyholder (between $1,000 and $5,000)
Scheduled Equipment Vs. Unscheduled Equipment
- Your Equipment limit is separated into two sub-limits: your Scheduled Equipment (everything you own valued above $2,000) and your Unscheduled Equipment (your blanket limit covering all equipment valued below $2,000).
- You will add all items valued above $2,000 to your scheduled equipment list with the make, model, serial number and replacement cost.
- If you acquire a new item valued above $2,000, you have up to 90 days to add it to your policy or coverage will not apply
Worldwide coverage applies in countries that are not currently being sanctioned by the US OFAC.
- Equipment must originate within the United States and be brought abroad for coverage to apply
- Unfortunately we cannot insure individuals living outside of the United States for a majority of the calendar year
Payments and Price
- 6 Month policy prices start at $320. Annual policy prices start at $470. You can view a quote immediately after completing your application with no requirement to commit to a policy. Complete payment using your major US credit card. No payment plans are offered.
Claims and Valuation
- Submit a claim at any time from your online dashboard at InsureMyEquipment.com.
- In the event of a covered claim, the insurance carrier will either pay the replacement cost value of the lost or damaged equipment; Or, pay the cost to repairing the lost or damaged equipment