I was shooting content in the VIP tent at Coachella. I set my Pelican case down to get a drink. Three minutes later, it was gone. Inside was a RED Komodo, two G-Master lenses, and my laptop. Total value: $18,500. My renters insurance offered me $1,500 and closed the ticket.
Key Takeaways
- Inland Marine is Essential: This is the insurance term for “equipment that moves.” Renters/Homeowners insurance has low caps (usually $1,500) for “Business Property” away from the home.
- “Unattended Vehicle” Exclusion: If the gear was stolen from a car, and there were no signs of forced entry (unlocked doors), 90% of policies deny the claim.
- Replacement Cost vs. ACV: You want Replacement Cost Value (RCV). If you have Actual Cash Value (ACV), they will pay you the eBay price of a 5-year-old camera, not the price of a new one.
- Mysterious Disappearance: Did you lose it, or was it stolen? “I put it down and it vanished” is sometimes denied as “Mysterious Disappearance.” You need a police report stating “Theft.”
The “Why” (The Trap): The Business Property Sub-Limit
Homeowners insurance covers your couch. It hates your camera.
The Trap: “Special Limits of Liability.”
Most policies state: “$1,500 limit for property used for business purposes while away from the residence premises.”
To cover $18k in gear, you need a dedicated Commercial Equipment Floater (Inland Marine policy).
[IMAGE: Screenshot of a claim denial letter citing “Business Property Sub-Limit: $1,500”]
The Investigation: I Called Them
I quoted coverage for $20k of camera gear.
1. Athos Insurance
- The Verdict: Specialized for filmmakers.
- The Coverage: Worldwide coverage, theft, accidental damage (dropping it).
- The Cost: ~$350/year.
- The Process: They require a detailed gear list (serial numbers) upfront.
2. TCP (Tom C. Pickard)
- The Verdict: Industry standard for pros. They cover rental gear too (if you rent a lens and break it). Essential for production houses.
3. Lemonade (Renters)
- The Verdict: I tried to add a “Camera” endorsement. They capped it at $5,000 total. Not enough for a pro rig.
Comparison Table
| Feature | Renters Insurance | Athos / TCP (Inland Marine) |
| Limit | ~$1,500 (Business) | Full Value ($20k+) |
| Theft from Car | Often Excluded | Covered (Locked) |
| Accidental Drop | No | Yes |
| Deductible | $500 – $1,000 | $250 – $500 |
Step-by-Step Action Plan
- File Police Report: Do it at the festival police tent. You cannot file a claim without a police report number.
- List Serial Numbers: If you don’t have them, call the store where you bought the gear. They keep records.
- Check “Find My”: If there was an AirTag, screenshot the location. Do not chase the thief (danger!). Give data to police.
- Rentals: If you rented the gear, did you buy the damage waiver? If not, you owe the rental house the full value immediately.
FAQ
Does it cover data recovery?
Some policies cover the cost to attempt data recovery from stolen/damaged hard drives, but they can’t replace the footage itself.
What if I dropped it in the mud?
“Accidental Damage” is standard in Inland Marine. Renters insurance usually only covers “Named Perils” (Fire/Theft), not drops.
Is it covered internationally?
Athos/TCP usually offer “Worldwide” coverage, but you must check excluded countries (e.g., Russia, North Korea).