2015Legal / Business Practices forum
Equipment insurance coverage limitations for freelance camera operators, particularly regarding rental and unaccompanied gear
What the thread found
- Hybrid life insurance policies with long-term care components may be available at lower cost than standalone long-term care insurance
- Traditional long-term care insurance typically covers a maximum of four years with a fixed benefit amount
- Qualifying for long-term care or life insurance requires approval before a health crisis occurs
- Equipment rental coverage under steadicam group policies has significant limitations, with only $5,000 in contingent coverage available when renting gear to others
- Rented or unaccompanied equipment is not covered under steadicam group policies unless the loss is from a covered cause and there is a written rental agreement
- Voluntary parting with equipment, such as failing to recover loaned or rented items, is not covered under equipment policies
- Equipment policies typically cover gear you rent from others up to a certain percentage of your scheduled equipment limit, allowing you to obtain certificates of insurance for equipment rentals
- Newly acquired equipment may be covered for 180 days at a limit of 30% of total scheduled equipment value or $25,000, whichever is less
- Insurance policy language can be dense and exclusions may not be apparent without careful review or direct questioning of agents
- Dishonest acts and fraudulent schemes are explicitly excluded from equipment insurance coverage
Depends on
- Discussion concerns primarily steadicam-specific equipment policies and may not apply to other insurance types
- Some details about coverage limits and percentages were stated as beliefs rather than confirmed facts
- The specific insurance provider details are from 2015 and policies may have changed
- One anecdote about fraud exclusion was second-hand and details were unknown