Understanding Camera Insurance

What is camera insurance?

Camera insurance is a type of insurance policy specifically designed to protect your camera equipment. It is a way to financially safeguard against unexpected events, such as accidental damage or theft, which are not typically covered by a manufacturer's warranty. There are many advantages to having camera insurance, including peace of mind and the ability to significantly reduce out-of-pocket expenses in the event of an accident.

What cameras can I cover with insurance?

Insurance coverage is available for all camera types, including compact, action, mirrorless, SLR, DSLR, and camcorder cameras. We also cover action cameras, such as all the GoPro Hero models (e.g. GoPro Hero 11) and GoPro Max.

Do homeowners or renters insurance cover cameras?

Homeowners or renters policies typically have limitations for cameras as to how they are covered, where they are covered, and how much they are covered for.

Firstly, many homeowner and renter policies do not offer any protection for on-the-go electronic devices. Those that do, typically have very low limits (e.g. $500) and often exclude important coverages such as theft or liquid submersions. There is normally no protection for devices used for business and deductibles are often prohibitively high as they often match the homeowner deductible. Should you need to file a claim against your policy, there is also a risk that your homeowner insurance rates increase.

Oyster has plans built specifically for personal electronics, with unlimited claim submission and the ability to purchase coverage anytime. Plus, coverage through Oyster means your homeowners or renters insurance rates won’t increase if you need to file a claim.

What does camera insurance cover?

Camera insurance offers protection for not only the camera body, but also all of the crucial parts of your device, such as the LCD screen, lenses, shutter mechanism, and external flashes. With this type of insurance, you can have peace of mind knowing that you are covering all aspects of your camera and its accessories, not just the main body of the device.

Oyster policies offer protection for all camera models, regardless of whether they are new, used, or refurbished. This insurance covers a range of losses, including:

  • Accidental damage: If you accidentally damage your camera through drops, cracks, or other accidents, you will be covered.
  • Theft: If your camera is stolen or vandalized, Oyster policies can provide protection. Cameras are often targeted by thieves and can be easily damaged in acts of vandalism, making it important to have insurance coverage in case these types of incidents occur.
  • Spills and liquid submersion: If your camera suffers liquid damage from spills or being dropped in water, Oyster policies will provide protection.
  • Fire, flood, and natural disasters: In the event that your camera is damaged in a fire, flood, or natural disaster, Oyster policies will provide coverage.
  • Power surge by lightning: Lightning can cause serious damage to electronics, including cameras. Oyster policies offer protection against this type of damage.

What doesn't camera insurance cover?

Oyster insurance plan offers comprehensive coverage for your camera, but there are a few exceptions to what it covers, including exclusions for intentional damage, cosmetic damage, and general wear and tear. See the policy details for more information on any exclusions.

Should I insure my camera?

When it comes to protecting your camera, having insurance can be a smart investment. One of the major benefits of camera insurance is that it helps you reduce the cost of out-of-pocket expenses when accidents or other unexpected events occur. Whether you're dealing with damage to your camera or it has been stolen, the cost of repairs or replacement can be significant.

If you're considering whether or not you need insurance for your camera, it's worth thinking about whether you would be able to afford the cost of repairing or replacing your device if anything happened to it. Accidents and other unforeseen events can happen at any time, and having insurance can give you peace of mind and help you protect your investment in your camera.

Do I need camera insurance if I have warranty protection?

Camera equipment insurance offers protection that goes beyond what a warranty typically covers. While a warranty is a form of limited protection that comes with the purchase of equipment and covers issues such as manufacturer's defects, it does not typically cover theft or accidental damage. 

Additionally, warranties are often only valid for a limited period of time, ranging from a few months to a couple of years, whereas insurance policies typically allow you to continue receiving coverage as long as you pay the premiums. This means that you can have ongoing protection for your camera gear, rather than the limited coverage provided by a warranty.

How much does camera insurance cost?

There is no real "average" policy as many factors affect the price of insurance e.g. item type, price of the item, etc. That being said, insurance is a small price to pay to make sure you are protected should the unthinkable happen and you damage your camera, or it’s stolen whilst you're out and about. Oyster camera insurance plans are very affordable, starting at just $30 per year.

How do I get camera insurance?

The best way to find out exactly how much insurance will cost you is to get a quote. It takes less than 2 minutes to get a quote for a policy with Oyster.

How do I insure my camera for travel?

Oyster camera insurance provides coverage for your device no matter where a covered incident occurs. This means that your camera is protected whether it is at home, outdoors, or even when you are abroad. This can give you peace of mind knowing that you have financial protection in case of any unexpected events involving your camera.

Less hassle, better protection

Join Oyster today to learn how you can be properly protected from the unexpected things in life.

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