Wednesday, 12 October 2011

Insurance again

From my quickie last weekend, one of the comments raised was about insurance and what happens when your bit of kit is replaced in the manufacturers line up with something significantly more expensive. In this case, I was rambling on about the Canon 500 lens and how the version that I have is no longer available, and the replacement for it is massively more expensive. Well I have yet to follow up with my insurance company, but it was a timely reminder that for the better camera insurances that you insure for a new replacement sum. Check out Dave's thoughts from a while back and mine here.

So it is worth constantly tracking prices as firstly you don't want to be paying much, and the only way that is going to happen is if you have relatively cheap lenses and lots of brand new bodies.

If like me you have a number of lenses that cost you a significant amount of money (I say that as a relative thing for me - significant is whatever your financial pain threshold is) that you got sometime ago, it is likely that the replacement cost is significantly greater. I got a hell of a shock about two years back after the round of massive price hikes in early 2009 filtered their way through.

It seems like we are back in the same place, what with plunging exchange rates, 20% VAT now and manufacturers whacking up their prices.

So check your gear replacement prices out, and here is as good as anywhere, and make sure that you have the right level of cover for your precious gear.

Neil - thanks for your comment on Saturdays blog - the points you raised, are of course, quite valid, but I still believe that even on a like for like basis, and considering the other variables that you allude to that Canon have taken a conscious decision to whack up their prices and grab margin

OK grump over

Martin

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