Quote Originally Posted by David Lyga View Post

I have about 800 cameras and about 1000 lenses.

Oh yes, let me tell you about the 6000 classical music 33 rpm LPs that co-exist with the cameras. Those should also get a handsome reward if stolen! -David Lyga
Can I come to your estates sale?

The best is to speak honestly with your insurance agent about the actual value of the items and if they are worth insuring - I know some of mine cameras are not worth the minimum premium they are asking. Where you get in trouble is when you assume that you spent $1000 of a camera that the insurance will pay you $1000 for a replacement - a replacement for that exact one is probably $300-400. Where you really get in trouble is when you over-insure an item (say it is worth $1000 when it is worth $50 at the time of the insurance policy purchase) since the insurance company calls fraud, denies the claim and does not return any premiums - plus you are forever in the database as a cheat and no other insurance will take you on (happened to a co-worker).

Also, when I worked at the camera store, people would come in with a claim for a Nikon D200 and be looking for a quote for a D60 - the insurance company said the D60 had more megapixels and thus would be a more realistic replacement than a D300 - they don't understand one is an amateur and one is a semi-professional.