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For passionate photographers, their camera is more than just a technical device: It captures special moments and preserves memories. In addition, a camera often represents a considerable investment. However, if the device is damaged or lost, household contents insurance only applies to a limited extent – namely in the event of incidents in your own home, such as a break-in. You should therefore protect yourself against unexpected damage caused by external influences and loss.
Camera insurance is an optional module that extends your household contents insurance with AXA. This means that risks outside your home will also be covered in the future. You can also insure any type of camera – from professional SLR cameras and practical compact cameras to modern action cameras such as GoPros – as well as equipment for your camera, such as lenses, tripods, and memory cards. In addition to a photo camera, it is also possible to insure a video camera. The brand or model does not matter. But for which risks exactly does camera insurance offer protection?
Having your camera insured doesn’t just have advantages for you: Your entire household benefits from AXA’s protection. This includes family members, partners, and roommates in a shared apartment. This means that in addition to your own camera and equipment, the devices of other household members are also insured. Particularly practical: If you or someone from the relevant group of people buys a new device, the insurance cover also automatically applies to this new purchase.
The price of a new camera plus equipment can quickly reach four or even five figures. Photographic equipment therefore has a considerable value and if it is broken or lost, this can be a major financial burden. If you insure your camera, camera equipment, and associated objects with AXA, you will receive comprehensive support in the event of a claim: The sum insured covers the financial value of the insured camera and associated equipment, up to the replacement value depending on the policy. The insurance therefore covers either the repair costs or the amount required to replace the device with a new, equivalent model.
You take your new camera with you on a canoe trip. When you lean a little too far over the railing while taking photos, you lose your balance and fall into the water along with the expensive device. The photos can be saved, but the camera is unusable.
The annual premium for camera insurance varies depending on the scope of the insurance, the deductible, and the value of the insured items. With AXA, you can easily add modules to your existing household contents insurance and adapt the insurance to protect your camera. It’s best to get personal advice and receive the best individual offer for you.
Whether it makes sense to insure a camera depends on the value of the camera and your personal risk tolerance. For example, it is almost always worth insuring cameras in the higher price segment. With devices in this price range, repairs or a complete replacement can cause considerable costs in the event of damage. In such cases, unforeseen damage or loss without insurance could lead to a considerable financial burden. Finally, your usage also plays a role: If you frequently use your camera on the road, when traveling, or in high-risk environments, this increases the risk of damage or loss.
Camera insurance also applies to older cameras, regardless of when you bought the camera. The decisive factor is that the camera is still fully functional at the time the insurance is taken out and that you state its current value correctly. In the case of older cameras, the current value usually counts as the amount that the camera is still worth due to its age and condition. This means that in the event of damage, you will not be reimbursed the replacement value, but the current value of the camera.
If you accidentally drop someone else’s camera or damage it in any other way, this can be expensive. However, your camera insurance does not cover damage that you cause to other people’s equipment. It only covers damage caused to your own camera or your own equipment. Instead, you need liability insurance in such cases.
