Renter's insurance with two twists
May 31, 2011 7:31 AM Subscribe
Renter's insurance and travel, special libelous snowflake edition: I live in New York City and want renter's insurance that (a) covers libel and (b) will cover my wife's nice (~$2k with lenses) camera *when she is travelling*. I can't get a straight answer out of any insurance companies on what their policies actually cover. Can anyone recommend a company?
The libel thing is because I am the sort of guy who speaks his mind, and I've been threatened with libel suits before. I never actually libel anyone (at least by US standards), but I would prefer not to pay to fight a lawsuit. Volokh says that some renters insurance policies cover this.
And the camera thing is because apparently travel insurance doesn't cover expensive things, but renter's insurance sometimes does (yes, I know this makes no sense).
The libel thing is because I am the sort of guy who speaks his mind, and I've been threatened with libel suits before. I never actually libel anyone (at least by US standards), but I would prefer not to pay to fight a lawsuit. Volokh says that some renters insurance policies cover this.
And the camera thing is because apparently travel insurance doesn't cover expensive things, but renter's insurance sometimes does (yes, I know this makes no sense).
Get a personal articles (sometimes called "inland marine") policy for the camera; it's cheap and will cover the equipment from accidents as well as theft. You can throw other mobile gadgetry, such as laptops and smartphones, on the same policy with very little incremental cost.
A renter's policy that covers libel is a new one on me, but many do cover liability in a similar way to homeowner's policies, so I guess it's possible. You may want to check the deductible, however. An umbrella liability policy may be worth investigating as well.
posted by kindall at 7:38 AM on May 31, 2011
A renter's policy that covers libel is a new one on me, but many do cover liability in a similar way to homeowner's policies, so I guess it's possible. You may want to check the deductible, however. An umbrella liability policy may be worth investigating as well.
posted by kindall at 7:38 AM on May 31, 2011
It's not "renter's" insurance you want for your wife's camera and lenses, it's "valuable personal property insurance". It's often a rider to a renter's insurance policy, but sometimes it's a rider to home owner's insurance. I have one for my piano and some jewelry. I had it when I rented and when I owned and when I was squatting at my parents' house--neither a renter nor an owner. Any home owners/renter's insurance issuer should be able to issue you a policy and it should cover the equipment for the usual: theft, mishandled luggage, fire damage. Just talk to the agent about inclusions and exclusions in the policy.
posted by crush-onastick at 7:38 AM on May 31, 2011
posted by crush-onastick at 7:38 AM on May 31, 2011
Last time I tried pricing insurance to cover a camera like that, I needed what was called an "Inland Marine" policy and it was prohibitively expensive.
posted by SpecialK at 7:39 AM on May 31, 2011
posted by SpecialK at 7:39 AM on May 31, 2011
I don't know specifically of any insurance compnanies that offer renter's insurance that includes libel coverage. I can imagine it is difficult to get a reliable answer on the libel coverage out of the reps who work the phones.
May I suggest asking for prospective insurers for copies of the actual contracts so you can review them yourself and see if there is language similar to the volokh.com example?
Regarding the camera, if it is not generally covered in a renter's insurance contract you should be able to get a "rider" added to the policy to specifically cover the camera/lenses etc. It will be an additional cost, but in my experience rider costs are reasonable.
posted by de void at 7:40 AM on May 31, 2011
May I suggest asking for prospective insurers for copies of the actual contracts so you can review them yourself and see if there is language similar to the volokh.com example?
Regarding the camera, if it is not generally covered in a renter's insurance contract you should be able to get a "rider" added to the policy to specifically cover the camera/lenses etc. It will be an additional cost, but in my experience rider costs are reasonable.
posted by de void at 7:40 AM on May 31, 2011
FWIW, I have been advised not to get a rider for your renter's/homeowner's policy but rather a separate policy for your valuables. Some insurers will cancel your policy after a couple of claims (even small ones) and you don't want that happening to your homeowner's, because it will then become much more expensive.
posted by kindall at 7:42 AM on May 31, 2011
posted by kindall at 7:42 AM on May 31, 2011
Response by poster: de void, I should have mentioned this, but last time I looked into this (three or four years ago, before I gave up in disgust), I couldn't get a copy without actually signing up. This struck me as insane, but that was the answer they all gave me. Maybe I should be talking to a different type of insurance person? I'm not really familiar with how the industry works.
posted by novalis_dt at 7:45 AM on May 31, 2011
posted by novalis_dt at 7:45 AM on May 31, 2011
Best answer: Reporters Committee for Freedom of the Press has an article on obtaining insurance that covers libel. In the article they mention both State Farm and Allstate as offering this insurance either via a personal injury endorsement to a homeowner's/renter's insurance policy or via a umbrella policy.
With regards to expensive items, my State Farm renter's insurance covers my property while I'm traveling and I've specifically added an endorsement to increase the coverage for computer equipment (since the value of my computer equipment exceeds the limit of State Farm's standard renter's insurance policy).
posted by RichardP at 7:47 AM on May 31, 2011
With regards to expensive items, my State Farm renter's insurance covers my property while I'm traveling and I've specifically added an endorsement to increase the coverage for computer equipment (since the value of my computer equipment exceeds the limit of State Farm's standard renter's insurance policy).
posted by RichardP at 7:47 AM on May 31, 2011
If you just walk into a State Farm office they should be able to answer all of your questions. I've not asked before getting a policy, but they have the little bookletts there, and you should be able to read them before signing up. My renters insurance has a few hundred thousand dollars of liability insurance and I have an umbrella policy on top of that good for two million. The PLUP is pretty cheap, so consider that too.
posted by jeffamaphone at 9:13 AM on May 31, 2011
posted by jeffamaphone at 9:13 AM on May 31, 2011
IF you are eligible to sign up with USAA (I think it's now any active or former service member or the child of a USAA member), then contact them. I have nothing but positive experiences with them.
They will be able to tell you what your options are.
posted by Mad_Carew at 10:11 AM on May 31, 2011
They will be able to tell you what your options are.
posted by Mad_Carew at 10:11 AM on May 31, 2011
Best answer: Be careful with "the little booklets". My roommates and I just got renter's insurance, and we were under the impression that valuable personal possessions (computers, cameras, bikes, phones, and the like) were covered even if they were stolen while off the premises. It turns out they're covered only up to 10% of the original purchase price. Getting reimbursed 10% for an item that cost hundreds of dollars isn't really "covered", in my book.
posted by Sara C. at 12:05 PM on May 31, 2011
posted by Sara C. at 12:05 PM on May 31, 2011
This thread is closed to new comments.
Also, many carriers will schedule the photographic equipment. You pay a bit extra but get coverage worldwide for theft and even "mysterious disappearance". If you schedule the items they will not be subject to a deductible.
posted by digiFramph at 7:37 AM on May 31, 2011