Posted 08 June 2014 - 02:23 AM
I've owned my camera equipment rental company, Latitude 33 Motion Picture Services, LLC, for about 25 years now. In that time it has substantially grown with the amount of gear we own. I don't know what I pay for insurance annually, but I believe that it's important to pay for worldwide replacement cost. It's more expensive but if you lost everything at once you would most likely be out of the camera gear business. Without this feature, you will only receive the depreciation value of the affected gear. Thus it will cost you additionally to replace it after the insurance. Since I have gear spread out all over the place at any given time, this feature gives me additional peace of mind. Of course, the production insures the gear first and foremost before any of my company's insurance would kick in. They are required to provide a certificate of insurance made to L33 MPS prior to any gear being delivered. Hope this helps.