To all our DPP members, I am proud to announce that Photographer's Insurance is right around the corner. We have been discussing this program with the largest non-life insurers in the Philippines, Malayan Insurance, for over eight months. While we were finalizing DPP mag, we were trying to convince Malayan to create an insurance product for photographers. These guys listened. It took some time because they needed to do their research. They also had to get approvals from the government insurance board to sell this product.

Well I'm sure everyone is going to have tons of questions, so let me introduce Andrew Steven Go. Andrew worked with us from the start to create this product for photographers so he is in a better position to answer questions than I am. All I can say is that this insurance is real and also very affordable. It also covers almost everything imaginable for photographers.

Andrew, you're up.

Hi Guys,

Thanks Nick for giving the floor to me. Since I am the new kid on the block, allow me first to introduce myself. I am Andrew Go, I work for Malayan Insurance as a Product Manager for almost five years now doing product development, business development, brand management and all the nitty gritty stuff that a marketing person basically does. Also, let me just give you a brief background of Malayan Insurance. Malayan Insurance is the number one non-life insurance company in the Philippines for 36 consecutive years now as certified by the Insurance Commission, the local government agency under the Department of Finance that oversees and enforces the provisions prescribed under the Insurance Code of the Philippines. Malayan offers its clients a wide array of insurance lines such as fire, motorcar, personal accident, marine & cargo, miscellaneous casualty and surety bonds.

Nick and I have been constantly in touch in order to create this product specifically for you. We haven't thought of the brand name that will put a face to the product, but basically this is something to look forward to especially to all you professional or amateur photographers out there who want to protect your invaluable cameras. To cut to the chase, the product will insure your camera, peripherals and equipment against fortuitous event that might happen to your camera such as accidental damage or loss due to theft or fire. The insurance package also provides you with other essential covers such as personal accident insurance for you and your assistant, overseas extension, vehicle extension, damage to portfolio, comprehensive general liability, personal liability inurance. I won't go into details as to what each cover specifically means, it will take me until tomorrow to detail each one of them here. But I do hope the gist will give you some sort of idea as to what each cover does to protect you and your unit.

I am open to answer any questions in case some of you guys are interested to know more about the insurance product. Thanks. Great site Nick!

Andrew,

Would you know what the starting coverage is? What are the premiums? Are there deductables? These are the basic questions that should first be answered. Thanks.

The coverages, as I 've mentioned in my previous posting are property insurance, accident insurance for the insured and assistant, hire of equipment, damage to portfolio, vehicle extension, overseas extension, comprehensive general liability and personal liability for a premium of P 4,000.00 for the first 100,000 value. The succeeding increments of 100,000 value are worth P 2,800. All in, tax inclusive. You can insure your equipment up to value, meaning commensurate to the price of your camera and equipment. There are deductibles here, similar to what happens in motorcar insurance claims.

Is there a web site where we can see the relevant term sheet? Then we could probably ask better questions. Thanks

Finally its here! Will you insure cameras / gear that are not brand new. For instance, I have a Leica M6 that I treasure and would like to make sure that I have a policy that covers my post treasured camera, Or does this only apply to digital cameras?

Give us more detail and let us know how to get started because I'm interested.

I think I can get what Andrew is saying...Malayan pays up for any equipment damage or loss but not actually replacing the unit(s).

Andrew, would the payment be net of depreciation or the actual amount/value of the equipment declared?

Hi, Andrew.

I just have some questions on the top of my head. First, how do have our equipment covered (is it as simple as auto insurance where we give our car make and model)? Also, what would be the procedures in claiming?

Hi Arnel,

When you say term sheet, do you mean quotation? Yes, we can provide you with a formal quotation based on the specifications and the value of the equipment that you intend to cover your equipment with. You can direct your questions to me, through this site, anytime.

Hi Caloy,

That's a very good question. payment for insurance claims is net of depreciation based on the current, prevailing market value of the camera. This concept is very similar to how a motorcar insurance claim works. In the event of a claim, you get compensated by the insurance company based on what the current price of your vehicle the market dictates, we have to consider depreciation in insurance all the time.

Hi Gabriel,

Yes, we insure all types of camera whether it's old or new, provided that it's in good condition prior to insuring your entire equipment. As I've said, we insure all types of camera and equipment whether digital, manual, single-lens reflex, twin lens cams with tripods, lights and so on and so forth. To enroll yourself in the insurance program, you need to fill out an application form writing important details that we need to know, then, we'll evaluate the risk and issue the policy once approved.

Hi Raffy,

That's correct, you just give us the details of your camera like the make, model through an application form that we're going to provide you. In the event of a claim, you need to submit to Malayan your policy, a police report / affidavit of loss in case of losses, cost estimate from an authorized service center in case of repairs, purchase invoice, proof of annual premium payment.

For more information on our company, you may visit www. malayan.com

Thank you for your interest and I look forward to hearing from you soon.

nice :Grin:

Hi Andrew,

I came from the Banking and Insurance Industry as well and from what I have heard from other people, it is difficult to get a claim from Malayan Insurance. Even it's pre-need sister company is having problems until now regarding the claims of scholars. I'm a marketing and sales person and it's easy to get accounts, the problem comes in when the company cannot service the clients, I think you should also discuss the exemptions of the insurance coverage like force mejeure or mishandling of photo equipment. Hope you won't get offended, nothing personal, just a shrewd and prudent businessman asking for an explanation of the rumours circulating the industry. Perhaps you can shed some light on these issues. Thanks.

Hi Andrew.

Do you have a contact number? Where is that form you mentioned? Please contact me through my mobile 0920.928.7624

Nick, Andrew, Malayan, and everyone else involved, just a quich thank you for considering our needs! I hope everything turns out well. Andrew, please contact me ASAP. Many thanks again.

Hi,

I visited malayan.com. I couldn't fiind the particular insurance product for cameras and gear.

Also, can I now insure my lens that has been purchased abroad but I won't be getting it till November? It's with my sister-in-law for safekeeping. Thanks!

Paul

Hi Andrew,

It's a well known fact that most Canon lens barely depreciate in value over time. Will this be taken into consideration?


That's a very good question. payment for insurance claims is net of depreciation based on the current, prevailing market value of the camera. This concept is very similar to how a motorcar insurance claim works. In the event of a claim, you get compensated by the insurance company based on what the current price of your vehicle the market dictates, we have to consider depreciation in insurance all the time.

Malayan Insurance is Yuchengo group right?

Malayan Insurance is Yuchengo group right?

yes that's right...

hi andrew.
i would like to have an insurance for my equipment? how would we start?

I'll be contacting Andrew today to comment on these posts. He was on assignment the other day he informed me and could not get on line. Basically, they will be setting up a download page for the insurance form on their website for this. We also offered having a download page here which could also be possible.

I'll be contacting Andrew today to comment on these posts. He was on assignment the other day he informed me and could not get on line.
Thanks for the heads up Nick. I was beginning to think this is a preview of their customer service to come.

Hi Eric,

I understand where you are coming from. If I were to put my hard-earned money into something, I would also ask the same questions the same way as you did. Please allow me to state the facts for your consumption: Malayan Insurance has been in the non-life insurance industry for 76 years now, so we're not new to the insurance business so to speak. In terms of financial strength, Malayan has amassed a total of P 4.455 billion in gross revenues (or in insurance terms - gross premiums) written in 2005. Also last year, MICO's premiums earned, capitalization and total assets amounted to P 2.014 billion, P 750 million and P 10 billion respectively. Yes, the pre-need company you are referring to is our sister company, but to set the record straight, Malayan has separate accounting books, balance sheets, income statement and cash flows with that pre-need company. Having said that, Malayan is capable of paying promptly any just and valid claims. In fact, Malayan has already paid claims amounting to P 309.9 million in one of our biggest losses paid by far back in 2004. That amount was paid to a Korean manufacturer of stainless steet and cable (forgive me for not mentioning the name fo the manufacturer).
In the event of a claim, I don't see any reason why any valid claims would not be accepted granting that you have the complete set of documents we need (i.e. police report, affidavit, etc.) for verification purposes.
Losses due to willful negligence and force majeur (forces of nature or Acts of God, meaning atmospheric disturbances, earthquakes, etc.) are generally excluded in the insurance policy coverage.
I hope the above clarifies the points you raised. Thank you, we really appreciate feedbacks like this one, because it gives us a chance to explain our company and at same time allow us to gauge how others perceive us to be.

Hi Pocholo,

My sincere apologies for the delayed response, I shall contact you asap and discuss to you personally the product or any thing that you might want to know about the process. Many thanks for expressing your interest with our product.

Hi Paul,

The product description and application form is due for uploading within the month. We'll keep you posted! Thanks.

Hi Alvin,

As mentioned in my previous threads, depreciation is always considered in insurance.

Hi Hubert,

Yes, Malayan is a member of the Yuchengco Group.

Hi Caloy,

To start, you need to give us the full value of your entire gear, that's where we can assess the total premium to be paid. May I know you contact number so that I can get in touch with you? Thank you.


Thank you guys for taking time to ask questions. I'll more than glad to answer some more as they come.

Best regards to everyone.

Hi,

Isn't Malayan part of the Yuchengco Group of Companies?

Just wanted to clarify this. Pacific Plans victim here, you see.

Thanks.

Hi,

Isn't Malayan part of the Yuchengco Group of Companies?

Just wanted to clarify this. Pacific Plans victim here, you see.

Thanks.

Hi Belio, this has been answered by Andrew in the previous page.

Hello Andrew, how about here in Cebu?

i have a bout a mil worth of equipment (all canon). how much would be the premium and what would be the stipulations (the most important ones) under the policy?

thanks

Hi Andrew, I'm very much interested in looking through your policy, any branch in Iloilo?

Andrew, is there a difference on on the premiums for gear professionally/commercial used, as opposed to gear used for hobby, leisure, travel abroad? I'm more interested on travel insurance for my gear on a periodic basis.

Hi DC and Paul,

This product will be made available nationwide. We have branches in Cebu and Iloilo to serve your needs. But the insurance policy shall be issued here in Manila and course through the aforementioned branches before it reaches you for the meantime. And Paul, what' your e-mail? I'll send you personally the policy wordings for your information.

Hi Kriskent,

For a million worth of camera and equipment the total premium is P 29,200.00. (P4,000.00 x 1 plus P2,800.00 x 9) tax inclusive. The important things to remember are: Your camera and equipment are insured against accidental damage, loss due to theft or fire. Also your camera and equipment are also insured whilst you are on travel or riding in vehicle. Mysterious disappearances or losses due to gross negligence will bar you from insurance claims. I can send the entire policy wordings to you personally, what's your e-mail address?

Hi Derrick,

There's no difference on the premiums whether it's for professional or just for leisure. Your camera is also insured even when your abroad.

Thank you all.

Andrew

Hi Andrew, I appreciate this initiative and am very interested!

I'm in the telco industry and have read a cellphone coverage policy. would insurance
for camera equipment be similar?

the fine print on the "conditions" in making a claim is quite restrictive in terms of reporting time-lines, etc. in other words claiming by the policy's intention was made difficult if not impossible in my opinion.. i know it's for obvious reasons but if this becomes a hindrance for legitimate claims then what's the use?

would you care to share stipulations in your policy that relates to this?

thanks...

John,

Good question and I would like to hear Andrew's answer here also. I know Malayan is one of the companies that has moblie phone insurance. I could wager a guess that getting a claim for photography would be much easier than a moblie phone for many obvious reasons. However, I woudn't doubt that there will be a few creeps who think that scamming the insurance company might be the easiest way for an upgrade in equipment. Im certain it will happen. Hopefully this industry is closely knit so that we find out who is honest or not.

i advertised this in our flickr group:

http://www.flickr.com/groups/flickrphilippines/discuss/72157594210193033/

Two more questions pls?

1) if my equipement is worth 150T how much would my premium be? what formula would be applicable more or less?

a. 4000 + 2800
b. 4000 + 1400

2) what would be your basis for depreciated/ market value?

Saw Andrew's contact numbers over at PiPho. Is the insurance already ready? I am ready to get one if it is.

Two more questions pls?

1) if my equipement is worth 150T how much would my premium be? what formula would be applicable more or less?

a. 4000 + 2800
b. 4000 + 1400

2) what would be your basis for depreciated/ market value?


I believe the answer to question #1 would be P 6,800. For question #2, I wouldn't know. Although I told Andrew that he should consider B&H Photo catalog as the barometer for pricing.

I hope meron din ito sa Cebu :) i know a lot of people are very interested in this!!

hi andrew,

nice to hear that at last there will be an insurance for working photographer on there equiptments

carlito

With the issue on the image of Pacific plans...how sure are we about Malayan? I have a brother who's a victim and sorry to inquire about this.

I rather have my equipment self insured than paying additional then later not getting anything.

John,

Good question and I would like to hear Andrew's answer here also. I know Malayan is one of the companies that has moblie phone insurance. I could wager a guess that getting a claim for photography would be much easier than a moblie phone for many obvious reasons. However, I woudn't doubt that there will be a few creeps who think that scamming the insurance company might be the easiest way for an upgrade in equipment. Im certain it will happen. Hopefully this industry is closely knit so that we find out who is honest or not.


I think its standard insurance offering the mobile insurance via e-standard. What malayan has is the text insure that didnt quite pick up despite the usage of mike enriquez to promote the product.

Andrew, i was hoping to get one before i leave the country.. any news sir?

Andrew!
since laptops are very much considered an essential part of a digital photographer's "equipment", would that also be covered?

ive talked with andrew some more and a couple of questions i asked him and the answers as follows:

1) what if i lose my gear abroad?

you need to get a police report form the said country or airline where the incident happened.

2) what if you buy second hand lenses with no receipts

as of today, the important thing is that you declare it with the serial number. I was asking how they will verify that you do actually have the lens before insuring and andrew said they will be talking about that today and would report soon.

Hello Andrew... Any in Baguio City I could inquire from?

email me policy too pls... martincpv@yahoo.com

thank you in advance. very much appreciated.

martin

Hi DC and Paul,

This product will be made available nationwide. We have branches in Cebu and Iloilo to serve your needs. But the insurance policy shall be issued here in Manila and course through the aforementioned branches before it reaches you for the meantime. And Paul, what' your e-mail? I'll send you personally the policy wordings for your information.

Hi Kriskent,

For a million worth of camera and equipment the total premium is P 29,200.00. (P4,000.00 x 1 plus P2,800.00 x 9) tax inclusive. The important things to remember are: Your camera and equipment are insured against accidental damage, loss due to theft or fire. Also your camera and equipment are also insured whilst you are on travel or riding in vehicle. Mysterious disappearances or losses due to gross negligence will bar you from insurance claims. I can send the entire policy wordings to you personally, what's your e-mail address?

X X X

Hi! This is very interesting! I lost my SLR camera and lots of accessories from fire and another camera from an accident. Now that I've got my new cam, I'd like to get an insurance.

Andrew, could you please send your email address so I can give the specs of my camera?

Thanks.

Andrew,

I've been waiting for your email for the past few days since I called your tru long distance.

now im curious about what constitutes mysterious and gross negligence.

that sounds a lot like "psychologically incapacity" where anything and everything can almost be defended within reasonable limits to be gross negligence.

now im curious about what constitutes mysterious and gross negligence.



scenario - leave your camera rig in your parked car, go shopping and come back, only to find your rig is gone. Obtain a police report and file your claim.

I wonder how they'll have a go with your claim with above circumstances.

Hi DC and Paul,



Hi Kriskent,

For a million worth of camera and equipment the total premium is P 29,200.00. (P4,000.00 x 1 plus P2,800.00 x 9) tax inclusive. The important things to remember are: Your camera and equipment are insured against accidental damage, loss due to theft or fire. Also your camera and equipment are also insured whilst you are on travel or riding in vehicle. Mysterious disappearances or losses due to gross negligence will bar you from insurance claims. I can send the entire policy wordings to you personally, what's your e-mail address?



Andrew

Too expensive....... $600 to insure a risk of $20,000 and I doubt they would cover use on an oil rig/supply ship etc..... which is where I really want the coverage.

How would I get a police report if the well blew out and the rig burn't down (along with my gear) or the baggage got dropped in the sea by a careless crane operator....

I'll pass on this one and keep looking for an international insurance company (heard too many bad thing's abut the Yuchengco group).

will it cost the same to renew coverage year after year?

Two more questions pls?

1) if my equipement is worth 150T how much would my premium be? what formula would be applicable more or less?

a. 4000 + 2800
b. 4000 + 1400

2) what would be your basis for depreciated/ market value?

1. Your formula is correct. P 1,400 for every insurance coverage worth 50,000.

2. Yes the basis of depreciation of the insured cameras and equipment would be their respective prevailing fair market values at the time of loss. In the absence of any reference for valuation, the standard depreciation clause stated in the insurance policy will apply.

With the issue on the image of Pacific plans...how sure are we about Malayan? I have a brother who's a victim and sorry to inquire about this.

I rather have my equipment self insured than paying additional then later not getting anything.


Although Pacific Plans and Malayan are under the umbrella Yuchengco Group, we are in no way connected with each other from the financial standpoint. As what I have mentioned in my previous replies, Malayan has totally separate accounting books, income statements, balance sheets, etc with Pacific Plans. Our gross revenues and capitalization are proof that Malayan is financially stable and is capable of paying claims. In fact, most of the top 100 corporations cited by the SEC in our country today are insured with us. So there's nothing to worry about Edwin.

It's up to you if you want to have your gears insured with us or not. Everyone is entitled to his own volition. Of course we respect your views and opinions. Thanks for your two cents worth.

Hi! This is very interesting! I lost my SLR camera and lots of accessories from fire and another camera from an accident. Now that I've got my new cam, I'd like to get an insurance.

Andrew, could you please send your email address so I can give the specs of my camera?

Thanks.

My email address is ago@malayan.com. Thanks.

scenario - leave your camera rig in your parked car, go shopping and come back, only to find your rig is gone. Obtain a police report and file your claim.

I wonder how they'll have a go with your claim with above circumstances.

That's a very good point you raised Mr. Caloy. Your example constitutes gross negligence on the insured's part. In insurance per se, there's such a thing as "done with utmost good faith." So we trust our clients will declare what is true or what actually took place at point of loss. Integrity and honesty are important virtues in this business. But of course, we can't avoid circumstances such as the scenario you described, nor can we avoid unscrupulous people who's out to gain something in the expense of others. There's only so much we can control anyway. Bottom line is, if the documents are factual, authentic, obtained from a good and reliable souce; if the event is proven to have actually taken place, then our recourse as a reputable company is to honor the claim.

I think its standard insurance offering the mobile insurance via e-standard. What malayan has is the text insure that didnt quite pick up despite the usage of mike enriquez to promote the product.

Actually we have a product by the name Cell Protect, which was formally launched last March of 2005. Unlike our competitor's product which is open to all phone owners, Malayan's product is only for post-paid subscribers of Globe.

will it cost the same to renew coverage year after year?

It depends on the present fair market value of your camera at point of claim.

Andrew, do you insure cameras/camera housings/strobes used in an underwater environment? sort of flood insurance?

Hi, Andrew.

Another question, if you don't mind.

How are sold items handled (i.e. if we sold an item that is insured)? Is it still insured even after the transfer? Will there be any adjustments in the policy?

Andrew, do you insure cameras/camera housings/strobes used in an underwater environment? sort of flood insurance?

We regret to inform you that damages to underwater equipment as a result of water ingress or caused by water permeation are excluded in the insurance coverage.

Hi, Andrew.

Another question, if you don't mind.

How are sold items handled (i.e. if we sold an item that is insured)? Is it still insured even after the transfer? Will there be any adjustments in the policy?
The insurance policy becomes null and void when the gears are sold to a third party mainly because the third party, who becomes the current owner in the process, has no insurable interest. In insurance, there's such a thing as insurable interest, by definition, it simply means that any interest a person has in property that is the subject of insurance, so that damage to the property would cause the insured a financial loss or other tangible deprivation. Generally, an insurable interest must be demonstrated when a policy is issued and must exist at the time of a loss. Since the third party / current owner of the gears has no insurable interest, ergo, he or she is not covered. The previous owner must advise the insurance company of the transfer of ownership immediately prior to selling of the gears. At the end of the day, it is the insurance underwriter's discretion whether or not to accept the risk or to allow the continuance of the insurance cover initiated by the previous owner.

Thanks, Andrew.

P.S. You might want to edit your post. The part where you quoted something is not displaying right with the black background. :)

Regards.

scenario - leave your camera rig in your parked car, go shopping and come back, only to find your rig is gone. Obtain a police report and file your claim.

I wonder how they'll have a go with your claim with above circumstances.

There should be "visible forced entry". Like a broken window on your car. If it's stolen in plain site, then your claim is not valid unless there are witnesses and a police report.

this "Photographer's Insurance" is a mix of several insurance cover already available. So if you have some policies in hand you can read the print there.

Maybe we can ask Andrew to bring in a claims adjuster to the forums to explain further any claims questions others might have.

Andrew, can you list down the rates you're offering?

Maybe we can ask Andrew to bring in a claims adjuster to the forums to explain further any claims questions others might have.

Andrew, can you list down the rates you're offering?

I'm glad to see that there is plenty of interest on this thread. Andrew called me yesterday to say that he has been barraged by an overwhelming amount of calls and inquries. Amiel's question has been answered in the first few posts which makes reading not easy. I suggest that a new thread be started if you have other questions so as to make it easier for our other readers to catch on.

In response to your question, the answer is P4,000 for the first P100,000 coverage and and P2,800 for each succeeding P100,000. The higher your protection the lower the rate goes.

May I ask if this would work like car insurance where the policy holder has to pay a participation fee when a claim is made. Is there a depreciation clause as well? Thanks!

wait, the whole insurance policy is void if we sell a part of our gear???

tama ba yung intindi ko?

wait, the whole insurance policy is void if we sell a part of our gear???

tama ba yung intindi ko?


Chris,

I'm not an insurance expert but I haven't heard your insurance policy being passed on to the person who purchases the gear from you. Does it work that way with cars? Sell your car to someone and that person gets the benefit of the insurance?

Or are you trying to say that if you sell your insured camera to someone and then purchase a new model, will that new model then be insured? I can't answer that question. Andrew Go of Malayan will have to. But then again, have you heard of your old car insurance policy being applied to your new car?

Lets wait for Andrew's answer.

wait, the whole insurance policy is void if we sell a part of our gear???

tama ba yung intindi ko?

...the item that was sold is no longer covered by the policy, partly because the new owner is not the policy holder.

Similar to cars, if you sell your car, its not automatic that the insurance comes with it. The policy has to be transferred as well (that's what I know, if I'm wrong please correct me. :Grin: )

In that case, the question may be rephrase as "Is the policy transferable?"

In that case, the question may be rephrase as "Is the policy transferable?"

it shouldn't be.

If the terms and conditions are already finalized maybe they can post it here, so most of the questions might be answered already. I think most questions/apprehensions are directed towards the fine print that comes with most insurance policies.

If the terms and conditions are already finalized maybe they can post it here, so most of the questions might be answered already. I think most questions/apprehensions are directed towards the fine print that comes with most insurance policies.

we'll inform andrew to do so.

For car insurance the insurance isnt trasfered but you can get a refund for the unused portion. I suppose its the same for this, or at least i hope it is. :)

well the wording surprised me. i saw policy and what came into mind is the whole policy meaning everything is not covered anymore.

ex.

i insure a 30d, a 24-105L, an 85 1.2L. (wala ako nyan example lang :D ) hehe.

i sell the 24-105l. ok, i get the point that the 24-105L is not covered anymore.

my question. would the 30d and the 85 1.2L cease to be insured?

i know dapat hinde but im not sure. legalities, technicalities, etc etc. sometimes these details screw us up.

hi guys. i read the wordings for the insurance policy...been busy so wasnt able to do it earlier. but items that im concerned about / want clarifications on.

part of the exclusions :

"Loss or damage caused by breakage during installation repairing or dismantling, nor breakage during transportation unless caused by fire, lightning, collision, derailment or overturning of vehicle; (part a)

Loss or damage caused by the neglect of the Insured or its authorized user to use all reasonable means to safekeep and preserve the property; (part b)

Loss or damage caused by dampness or atmosphere or extremes of temperature, corrosion, rust, shrinkage, evaporation, contamination, change in color or finish, dust, chemical action or reaction; (part c)

Accidental Damage due to Marring, scratching, denting (part d)"


so if im putting up my equipment on a tripod and somebody accidentally trips on the tripod would insurance cover it? part a and part b may say i did not secure it. And if we say the drop dented the camera even part d may say it is excluded.

if someone spills coke on the camera accidentally lets say you were shooting a kiddie party then part c may exclude it. what if during a shoot someone pushes you and you fall into a puddle of mud or water....excluded din?



now this...

"Earthquake, volcanic eruption or other convulsions of nature.

Typhoon, hurricane, tornado, cyclone or other atmospheric disturbances."

what if naulanan yung camera mo?


eto pa:

"Loss of or Theft due to mysterious disappearance. Mysterious Disappearance shall mean unexplained loss of the Property Insured by any reason of disappearance wherein the cause of the loss is unknown or could not be established."

ano ibig sabihin nyan? if its mysterious disappearance then how can it be theft?


eto pa:

"When Accidental Damage is sustained in transit to Removable Items, when handed to a recognized transport provider, unless securely packed in a purpose designed Equipment Case
Removable Items of Photographic equipment and fragile electronic items in an vehicle accompanied by the Insured or the Insured’s representative, unless in a purpose designed Equipment Case."


so if i dont put my camera in a bag and it gets damaged in transit for whatever reason its excluded? what if im sitting inside the car and the camera is supported by a strap around my neck? and then we get into a car crash but it did not topple the car but my cam hits the sides of the car and gets damaged?


and then the wordings say that we have to shoulder a minimum 5000 or 10% deductible AND THEN a participation fee....so if you insured 100,000 equipment you will only get 85,000..... I thought they said they will replace the items at market price?

and what about this...

"
LIMITS OF LIABILITY

The Liability of the Company for all compensation under this Policy as a result of any one occurrence shall not exceed the Limits of Liability Specified as follows:

PP 100,000.00 - Combined Single Limit (Bodily Injury/Property Damaged) Annual Aggregate.
Sub-limit for Bodily Injury of: PP 1,000.00 per person
PP 10,000.00 per event/ annual aggregate
Deductible :

The Insured shall bear the first amount of any loss as follows:
10 % Of the amount of loss subject to a minimum of PP 1,000.00 per event. "


I thought they will cover the price of the items? why does it state a limited liability?




Andrew, please answer before i leave which can be as early as sept 15. thanks

Mr, Andrew, Ive been waiting for you to answer my earlier post in this discussion regarding claim restrictions.

Perhaps a simple approach to aswer these concerns would be to compare your offering/ plan with comparable but "popular" insurance plans with another company not necessarily based here.

I'm still interested. it beats worrying about your gear when you're out there..

Christopher, thanks, 'appreciate the info. :)

Too expensive....... $600 to insure a risk of $20,000 and I doubt they would cover use on an oil rig/supply ship etc..... which is where I really want the coverage.

How would I get a police report if the well blew out and the rig burn't down (along with my gear) or the baggage got dropped in the sea by a careless crane operator....

I'll pass on this one and keep looking for an international insurance company (heard too many bad thing's abut the Yuchengco group).

My sentiments exctly...post na lang if you find one.. salamat.

Mr, Andrew, Ive been waiting for you to answer my earlier post in this discussion regarding claim restrictions.

Perhaps a simple approach to aswer these concerns would be to compare your offering/ plan with comparable but "popular" insurance plans with another company not necessarily based here.

I'm still interested. it beats worrying about your gear when you're out there..

Being in the insurance industry myself, I can tell you that going to another company will only give you the same policy. As this is a standard electronics equipment policy.

just curious if some folks already insured their gears with Malayan... also if there is already an instance of a claim being made.

@Andrew

When you say that it also covers portfolio, does it include soft files of the images? So, say the hard drive crashed and images were all erased, is this covered?

thanks!

hi guys, so who has availed of The insurance?

I believe several people already have. I doubt any claims have been made because the insurance has only been available for the last month.

I am not an insurance guy but in answering Allan's Florendo's question above, insurance covers your memory cards but not the content inside.

Too expensive....... $600 to insure a risk of $20,000 and I doubt they would cover use on an oil rig/supply ship etc..... which is where I really want the coverage.

How would I get a police report if the well blew out and the rig burn't down (along with my gear) or the baggage got dropped in the sea by a careless crane operator....

I'll pass on this one and keep looking for an international insurance company (heard too many bad thing's abut the Yuchengco group).


Agree. Hearing not so good things about this group. No thanks. But I guess my money is not safe there. I will never, ever insure my point and shoot camera with them.

Hi I will travel for a week in Zamboanga for my thesis.

I would just like to ask if you guys know any trushtworthy insurance for cameras?

I hope you could give me contacts because I will be leaving for Zamboanga this friday.

Thanks!:Grin:

Try Malayan insurance, they offer camera insurance

you tried that before?

hi, I'm from zambo. Hanggang kailang ka dito? maybe I can assist you. Any itinerary? zambo lang ba or kasama basilan, jolo and bongao?

no need to insure your gear. basta insured kalang :) joke lang

you tried that before?


Not yet but i know people who have

Ok, thanks.. :)

Di kasi sa akin ung camera, sa tatay ko kaya para mapalagay sha ipapainsure na lang namin . :)

Di kasi sa akin ung camera, sa tatay ko kaya para mapalagay sha ipapainsure na lang namin . :)


Mithi,

In that case, no amount of insurance will ever cover it...

Think about this: Can one really insure your dad's memories, love of the gear, love to do more things with that cam.... Try to dig that.

Given your time constraint, go for the disposable u/w cams.

For all I know, your dad may want to use that same cam for your wedding day. That's what I wish for my toddler daughter today -- to capture those precious moments with my eyes, with an old (by then) cam... parang Kodak moments.

My 2 centavo's worth....

i'm sorry but this is for my thesis, i can't just use any disposable cameras considering that I will be making a coffee table book about the Badjaos.

I think you're just giving your opinion but it offended me.

A professional photographer referred me this site to ask for help and my dad is the one who wanted me to ask about the insurance stuff.

Hi. I used to work sa Insurance Before .... but not Malayan .. hehehe

Remember, in case of total loss or damage, your equipment will not be fully be "paid off"

There will be some depreciation and deductibles that will be "deducted" from the amount insured. But at least you get something back. (How old is your cam and What is its market value now?)

Be sure to keep receipts, bec. upon claim, they will ask for that.

But I'd highly suggest to insure ... esp if you have spent substantially for it. Whats Php 4t to 10T insurance premium for 100T to 200T worth of equipment. Right.

Hope i didnt go to much with this.... hope it helps.

Hi. I used to work sa Insurance Before .... but not Malayan .. hehehe

Remember, in case of total loss or damage, your equipment will not be fully be "paid off"

There will be some depreciation and deductibles that will be "deducted" from the amount insured. But at least you get something back. (How old is your cam and What is its market value now?)

Be sure to keep receipts, bec. upon claim, they will ask for that.

But I'd highly suggest to insure ... esp if you have spent substantially for it. Whats Php 4t to 10T insurance premium for 100T to 200T worth of equipment. Right.

Hope i didnt go to much with this.... hope it helps.

Thank you for the information :)

The only insurance company I know that covers camera insurance is Malayan. If you really want and need an insurance for the camera . I guess you can get Malayan. I know they even offer insurance for your badminton equipment. :)

i'm sorry but this is for my thesis, i can't just use any disposable cameras considering that I will be making a coffee table book about the Badjaos.

I think you're just giving your opinion but it offended me.

please don't get offended, it's just that its already too soon for you to settle for an insurance, you said you will be leaving on Friday right? I'm not sure if everything can be processed before that day. or the best way, would be is just buy a used Dslr instead. there's a lot of people selling decent Dslr out there.:)

Mithi,

If you're leaving tomorrow, and you need to get insurance, better get one today.

In the Philippines, I believe that Malayan insurance is the only one offering camera insurance (or at least one of them). My overall experience with Malayan Insurance is quite satisfactory.

I suggest you call them, and ask about the inssurance so they can personally discuss with you the product features. Their number is 2428888. You may also check out their website. Here's the link: http://www.malayan.com/photorx.html

I experienced that they can process your insurance request in a day... just tell them of the urgency.

please don't get offended, it's just that its already too soon for you to settle for an insurance, you said you will be leaving on Friday right? I'm not sure if everything can be processed before that day. or the best way, would be is just buy a used Dslr instead. there's a lot of people selling decent Dslr out there.:)

Oh I got offended when that person said that I should use a disposable camera.

Oh I got offended when that person said that I should use a disposable camera.

Mithi,

If you're leaving tomorrow, and you need to get insurance, better get one today.

In the Philippines, I believe that Malayan insurance is the only one offering camera insurance (or at least one of them). My overall experience with Malayan Insurance is quite satisfactory.

I suggest you call them, and ask about the inssurance so they can personally discuss with you the product features. Their number is 2428888. You may also check out their website. Here's the link: http://www.malayan.com/photorx.html

I experienced that they can process your insurance request in a day... just tell them of the urgency.

Thanks a lot! :)

Hurry get that insurance now. Never mind other people's opinion they are entitled to it. Just think of your thesis and use your dad's cam carefully. Share your photo after your trip.

Good luck on your trip and shots. Even if you go by tom. I am sure your policy can be written very easily. Car insurance (I work for Standard Insurance) can be written w/in a few hours.

My dad (Tausug) is from Jolo, Sulu and lived in Zamboanga City for a long time. I hope you did some research as there are a couple of coffee table books about Zamboanga as to give you an idea where to shoot. You are gonna love all the colors there.

Take care and happy shooting.

Hurry get that insurance now. Never mind other people's opinion they are entitled to it. Just think of your thesis and use your dad's cam carefully. Share your photo after your trip.

Thank's a lot! :)

yes, everyone's entitled for their own opinion that's why I'm vocal about getting offended :)

And you live by your motto. You are tough! Don't forget to share your shots and let us know if someday you published your coffee table book.

Good luck on your trip and shots. Even if you go by tom. I am sure your policy can be written very easily. Car insurance (I work for Standard Insurance) can be written w/in a few hours.

My dad (Tausug) is from Jolo, Sulu and lived in Zamboanga City for a long time. I hope you did some research as there are a couple of coffee table books about Zamboanga as to give you an idea where to shoot. You are gonna love all the colors there.

Take care and happy shooting.


Oh I'm pretty excited, I've seen footages and videos documented by my mom last 2 years ago. I've reseached a lot, even interviewed people and gatheres surveys.

I will be accompanied by a professional photographer when I arrive there. Hope I wouldn't be much of a hassle to him.

And you live by your motto. You are tough! Don't forget to share your shots and let us know if someday you published your coffee table book.

Im glad that you guys do not belittle me, I appreciate it a lot, thank you! :)

I'm just sending my prayers that I will be safe on my trip. :)

If it's possible, bring a back-up digital camera, spare CF card and batteries so that you'll be sure that you'll be able to take all the shot you need and lots of plastic in case it rains so that your gear won't get wet.

i'm sorry but this is for my thesis, i can't just use any disposable cameras considering that I will be making a coffee table book about the Badjaos.

I think you're just giving your opinion but it offended me.


I appreciate your candor...

No offense meant...

So, my apologies...

I appreciate your candor...

No offense meant...

So, my apologies...

apologies accepected :)

I called the Malayan Insurance, too bad they do not have that kind of service any longer because of frauds.

Don't worry too much Mithi, it's safe here. :)

I called the Malayan Insurance, too bad they do not have that kind of service any longer because of frauds.

So they don't have the Photo Rx anymore? weird..

I called the Malayan Insurance, too bad they do not have that kind of service any longer because of frauds.

is this the same as Photo Rx... the one that has been diligently advertising their insurance for photographers?

Can anyone else give an update on this?

Thanks!

BTW have a safe trip :)

Any update on this? What is the alternative to Malayan Insurance?

I called the Malayan Insurance, too bad they do not have that kind of service any longer because of frauds.


You are mistaken. Call and ask for Photo RX because its a product that is available and very reasonable. If you like I can forward you a number of the person in charge of that product who can answer all your questions. Or vice versa, send me your mobile phone through PM and I will have them call you.

You are mistaken. Call and ask for Photo RX because its a product that is available and very reasonable. If you like I can forward you a number of the person in charge of that product who can answer all your questions. Or vice versa, send me your mobile phone through PM and I will have them call you.
'Just saw their website and happen to read this at the bottom...
"After accomplishing the application form, please fax to Mr. Nick Tuason at 8124612."
- at http://www.malayan.com/photorx.html

I find this interesting, I'd like to have my gear insured too. How often do you need to have your gears insured - is this also annual?

I also want to know how this goes. I want to insure my gear as well. As I can see on the website Php 4, 000 is the premium. I tried calling them but nobody answered.

Sir Nick maybe you can enlighten us?

Maybe some of you guys know how? Please share. :D. Thanks!

I don't know the exact terms and conditions for the Photo RX but these are the exclusions in Malayan's Cell Protect and if they are the same, I wouldn't waste my time and money on it.

• Your cellphone is left unattended in a public place
• Your cellphone is lost from an unattended vehicle, unless the vehicle itself was securely locked and there was a sign of violent and forcible entry

Looking at these two exclusions, it would mean that if you cannot prove that your cellphone, in this case, camera, was forcibly taken from you, you are not covered.

So before anything, ask for the terms and conditions plus read the fine print.

anyone with the unfortunate experience of actually losing equipment and making a claim? I just want to know how well malayan handles camare equipment claims.

sorry to revive an old thread... was scouring through the threads to find an update on Photo RX... but this is the latest thread about it (1.5years ago)

anybody able to claim anything? was it easy? how about the reimbursed about? sufficient?

as of now I have a small collection but eventually this will grow and I want to insure it if I can as much as possible.

or have anybody of you tried a some sort of property damage policy that includes some sort of coverage when you bring your equipments out on the field or overseas?

please share your insurance setup :)

thanks in advance.

I availed of the PhotoRx insurance coverage last march for peace of mind since I'll be traveling a lot this year. I can only be thankful that I don't have any chance to claim it. But when that happens, I hope it will be easy to claim what is due mine. The contract is fairly straightforward, rather long, but if you're interested you may want to ask first on what's being covered and not covered.

I availed of the PhotoRx insurance coverage last march for peace of mind since I'll be traveling a lot this year. I can only be thankful that I don't have any chance to claim it. But when that happens, I hope it will be easy to claim what is due mine. The contract is fairly straightforward, rather long, but if you're interested you may want to ask first on what's being covered and not covered.

I have been asking my friends and relatives if they any malayan insurance agent..so far no luck though. I want an agent that I can trust to make claims (if ever) easier to arrange.:Grin: but if the feedback on claims is good then I would worry about it. so far though...I haven't heard any claim feedbacks

Best thing about insurance for photo gear is I can take my mind off damaging or losing the equipement, and anctually take photographs.

Peace of mind really.

PhotoRX is definitely worth it.

when i bought my canon 1000d last year it includes 1 yr free insurance from Malayan, love the freebies but if you scrutinized the terms and conditions, there were some definition that needs clarification esp. while covering the unit outside the insured's premises . Maybe if you have a business to protect with then it is better to have one as some of the conditions stated that the photographer business location must be specified in the application form but what if I travel a lot. I don't think somebody will insure the camera if he/she keeps it in a vault but in this case, we always carry it along and that's where the risk started and i don't know if Malayan is also willing to take the risk in public places. But in brochure, the camera is well protected wherever or whatever happens 24/7, luckily i still have my camera(knock 3x) that's why i don't know the experience in claiming for loss or damage. I never had the master policy until expiry but i asked for a photocopy just to be sure and i saw my gear was covered minus 10%-15% of the total cost which i agreed because it's considered used once it left the store. The figure for loss is the day the unit was stolen, appraised value at the time of loss applies, same in determining car loss/carnap, and for damage unit, it must be return to its original state regardless of current/old price because 1 yr is not enough to determine how much depreciation can be applied unless depreciation schedule is stipulated in the policy w/c i did not see any. JMHO

Going to avail of this unique service but hoping that I would never comeback in this thread to share how quick, satisfactory and smooth my loss claim was taken care of, ever!! :Grin:

@Shahin - True true!!! Insurance, an expenditure none of us want to use EVER :D

@Shahin - True true!!! Insurance, an expenditure none of us want to use EVER :D

That reminds me sometime ago during a corporate briefing regarding an ongoing CBA negotiation between the union and management. A very young supervisor expressed his disgust when the union refused what to him is a very generous death benefit. He unwittingly said, "Don't the union realize that they should be enjoying this benefit now instead of bargaining for more?". Of course everybody in the conference room was red in the face trying to restrain themselves from laughing and embarassing the young man.

THINGS YOU OUGHT TO KNOW!

Guys, there are few basic things that you should be wary about, or be aware of before procuring insurance plans.

1. INSURANCE COMPANIES ARE NOT YOUR FRIENDS
Insurance agreements are what we lawyers call "contracts of adhesion". If you noticed, insurance contracts are pre-printed/pre-made when they are brought to you. Should you be worried about it? Oh YES, as this basically means that the insurance company has full and exclusive control of its terms, and usually insurers draft insurance contracts in such a way that it will "exclusively" benefit them - defeat your claim and make money out of the premium you are paying.

So the key rule in insurance contracts that you should always remember is: for the insurance companies it's business/profit first, customer second. This is a fact, that most people don't realize, and many insurance agents would refuse to acknowledge.

2. How do insurance company make money?

a.) when nothing happens to you within the the period covered by the insurance;

b.) when something happens to your camera but they will pay you at the lowest possible amount - how? by "limitation clauses" which set the maximum liability of the insurer... which is usually way beyond the actual procurement cost.

c.) when something happens to your camera but they can legally refuse to pay you - how? through the "exclusions" and "exemptions" provision in the insurance contract. Many people neglect reading these provisions as customarily they are written in microscopic font sizes - hence the insurance lingo - "fine prints". Thus, before signing an insurance contracts READ all the provisions carefully, as after all what's the point in getting an insurance when by the terms of it you will not be paid after all?

NOTE also that insurance agents will not voluntarily show you the terms of the contract, until the time that you sign them. So DEMAND that you be given a copy in advance, so you can carefully scrutinize the terms of the contract.

3. Now, what are the terms that you should watch out for?

First, ask yourself - what are the common causes of loss/damage of cameras?

- theft/robbery
- accidents
-damage through weather and other calamities

NOW - almost all insurance contracts (especially property insurance contracts) EXCLUDES:

- losses/damages brought about by "caso fortuito" (also called in other contracts "fortuitous event", "acts of God" etc);
- loss and damage cause by your own negligence;

Note that per our Supreme Court rulings theft, robbery, weather and other calamities, among others, are ALL "caso fortuito", "fortuitous event" and "acts of God". In other words, YOU WILL NEVER BE PAID FOR IT!

As for accidents, same case - YOU WILL NEVER BE PAID FOR IT!

So what's the point? It's basically useless. If the agent will not agree on this... then ask him in return - "So what are the specific causes of loss/damage where I will be paid?" I'll be curious of his answer (IF he'll be honest with you).

UNLESS, of course, you can negotiate with the insurance company to have these provisions removed, but of course at a MUCH HIGHER premium. (Many would ask...Can I negotiate? Yes of course you can, it's a contract after all - both parties must come in a common agreement).

Apart from Malayan, do other companies offer the same agreement? Oh YES! All insurance companies offer property insurances - they belong to the same category as house, cars etc. Malayan, however, came out of this ingenious and clever marketing scheme of naming it "Photo RX" to make it appear special.

So what's the lesson?

BE AWARE OF EVERY DOCUMENT THAT YOU AFFIX YOUR SIGNATURE ON.

ALWAYS NEGOTIATE FOR BETTER TERMS.

IF THEY REFUSE WALK AWAY!

Hello everyone... I recently got a Canon EOS 7D, and friends of mine advise me that with that caliber of gear, maybe it would be worthwhile to insure it, to save money, should something happen to it.

I found an old thread (http://www.digitalphotographer.com.ph/forum/showthread.php?t=9307) that talked about it, 2007. I was wondering if there was anything new. Where is it best to get camera insurance? Is it worth it? Is it actually possible to make claims or will you be weasled out of it? How has your experience been?


I plan to be using my camera a lot for general photography, including travel, events, mountain climbing, and maybe underwater photography. (There is a special concern with the latter two conditions.)

Any advice would be much appreciated. Thank you.

There's an ancient joke (since the Middle Ages) that the Jews invented insurance and interest because they were not allowed to own property in any country that they were in.

Very old thread, I see. But I wondered... How do we insure our cameras and lenses in the Philippines?

hi sir andrew,

is this only applicable to brand new gears or even the 2nd hand gears can benefit to this insurance? 2nd hand, I mean, if the gear were released a couple of years ago.. I hope you can enlighten me here..

happy new year sir!

cheers!

Hi Andrew, im interested. Call me at 09175963004.

THanks!

Ryan