Jargon buster

Please note: the explanation of terms below is intended for guidance only; for contractual definitions, refer to the policy wordings.

Annual payment - a one-off payment in advance to cover a year’s insurance. This is the cheapest way of obtaining cover.

Annual policy - all Photoguard policies, even when paid by direct debit, are annual policies and cover you for a full 12 months unless cancelled by either party under our standard cancellation terms.

Associates - this is our term to describe other people you wish to include on your public liability/personal accident cover. These can be assistants or colleagues but they must be resident in the UK. You can only add associates if you take out our Photoguard Pro policy.

Certificate of insurance - the document that contains the terms and conditions under which your equipment is insured. See also policy wording.

Commencement date - the date that the policy starts.

Depreciation - due to the limited life expectancy of portable laptops we apply a deduction to any claim for wear, tear and depreciation on any laptop over 18 months old. The maximum age we can insure a laptop is up to 60 months or 5 years.

Equipment case - either

• a purpose designed hard case where the interior has been specially formed to fit the equipment or
• a purpose designed padded case bought from a recognised supplier of photographic equipment.

Evidence of ownership - to pay out for an insurance claim, we need to be certain that you were/are the owner of the insured items. Evidence can be shown by, for example, an original receipt clearly showing the item and date of purchase. Alternative evidence can include a bank or credit card statement, photographs, a copy receipt from the retailer, packaging or literature.

Excess - this is the amount of money that you contribute towards the cost of a claim. With Photoguard there is no excess as standard on your equipment insurance, but you can choose to pay a voluntary excess – and doing so will reduce your premium, typically by around 12.5 per cent.

There is a £500 excess for claims made for damage to a third persons property (this only applies if you have take the public liability option).

See also minimum claim.

Flexicover - a policy unique to Photoguard PRO. If you only take up to 50% of your equipment value away from your home or studio, your premium is reduced. All your equipment is insured but you only pay extra for what you use at shoots outside of your insured location. Hire cover and £1 million public liability/personal accident cover is included as standard.

Forcible and violent entry - entry to a property that clearly shows damage to the lock, building, room or vehicle, caused as a direct result of theft.

Hire of equipment - Photoguard’s version of a courtesy car! Photoguard cover ensures that you are able to continue your photography if your equipment is stolen or damaged. We will pay for the hire of alternative equipment (up to £1,000 or if you have chosen Photoguard Pro up to £2,000) whilst yours is awaiting repair or replacement (subject to an approved claim).

In vehicle - this covers your equipment whilst transported in a vehicle. This does not cover your equipment whilst in transit unless it is kept in a purpose designed equipment case. See also security requirements.

Insured location - this is a single, specified place where you store your equipment, typically your home or studio.

Laptop - means portable laptop computers, notebooks, and their accessories, including adaptors, cards, cases, data storage devices, networking accessories, docking stations, security devices and webcams.

Locked luggage compartment - this can be:

• A locked car boot
• A locked rear storage area of a hatch-back, four wheel drive, MPV, SUV or estate car, subject to a factory fitted cover being in place (where the cover isn't available, items must be kept out of sight)
• A locked rigid bodied van, mini bus or camper van providing the windows have been obscured and providing any items are in a compartment of the vehicle that is not accessible from the drivers area or, where the compartment is accessible, kept out of sight.
• A rigid body fully enclosed trailer attached to a vehicle by a shackle bolt.

Loyalty bonus - this is a system by which we reward you for continuing your insurance with us. This is how it works:

• After year one = 5% discount (minimum of £5)
• After year two = 7.5% discount (minimum of £5)
• Between year three and four = 10% discount (minimum of £10)
• Between year five and seven = 15% discount (minimum of £10)
• Between year seven and ten = 20% discount (minimum of £15)

Material facts - this is any piece of information that might affect our decision to provide you with insurance. Under UK law, you are obliged to advise us of any material facts, such as convictions for fraud, theft or dishonesty, prior claims or events, or any special terms or conditions that have been applied by previous insurers.This obligation applies at the time you arrange insurance and extends to any change in circumstances whilst you are insured with Photoguard

If facts come to light once your policy has started, we have the right to refuse payment for all or part of any claim you may make.

Minimum claim - we don’t handle claims for less than £100 – any claim over this amount is for the full amount and no excess is deducted (unless you have chosen to take a voluntary excess).

Period of insurance - the length of time for which you are covered, all Photoguard policies run for a period of 12 months even when being paid by monthly direct debit.

Personal accident - if you have an accident whilst using your equipment, this provides cover up to £5,000 for death & permanent total disablement and £2,500 for loss of limb or eye.

If you have taken our PRO cover, the cover limits are extended to: up to £10,000 for death & permanent total disablement and £5,000 for loss of limb or eye.

Personal liability - this is the same as public liability.

Photographer - our collective term to describe people that use film, digital or video cameras (camcorders), binoculars, telescopes and other related audio visual equipment.

Photographic equipment - our term to collectively describe:

• photographic equipment (film, digital and related accessories)
• sound and lighting equipment
• camcorders and video equipment (film, digital and related accessories)
• binoculars and telescopes
• and other audio visual equipment.

Policy summary - this is a brief outline of the terms and conditions including any significant exclusions or conditions of an insurance policy. We are required by the Financial Services Authority to provide you with important keyfacts regarding your policy. The summary is not a substitute for reading the full policy wording.

Policy wording - this sets out in full the terms and conditions of your insurance cover. It is essential that you read the wording and comply with any terms and conditions it sets out. We have made it as straightforward as possible to read and understand.

Much of the information provided on this site is for guidance – only the relevant policy wording can be taken as a binding contract.

Premium - the amount you pay (either a single amount in advance or by credit agreement with PIN Finance Ltd) to provide annual insurance cover for your photographic equipment.

Professional indemnity - this provides cover so that in the event that you find yourself in a dispute with a client, your professional indemnity cover will pay the cost of defending any allegations or claims made against you for negligence or breach of duty of care (for instance loss or destruction of film or digital storage media).

Professional Indemnity insurance can be purchased from our sister site Indemnityguard and offers photographers a range of levels of essential professional indemnity cover.

Property - when we refer to property we don’t only mean buildings but also personal items, such as a laptop, a table or car… basically anything!

Public liability - this provides cover against damage to persons or property caused by your proven negligence. Photoguard Select offers £1 million cover as an option unless you have chosen Photoguard PRO which includes £1 million cover as standard with every policy (you can choose to upgrade this to £2 million or £5 million).

With Photoguard PRO you can also extend this to cover colleagues and assistants.

Replacement value - this is the price an item would normally cost new in a store including VAT rather than a specially discounted or sale price.

For vintage and rare equipment you should obtain a specific valuation. The valuation should be from a reputable source and not more than 12 months before your commencement date. It is advisable to obtain a new valuation at least every three years, to take into account any market changes in value during the period.

Serial number - the unique code that identifies that item of equipment. It is essential that we have the serial number for any item valued over £250 which increases to £750 if you have chosen Photoguard PRO. You do not need to have the number in order to apply for cover, but the serial number (and proof that it relates to the item insured) will be required in the event of a claim.

Specified items - we need you to identify any individual items over £100 in value. These are your specified items, all other items are added as an overall value under unspecified items.

Sum insured - this is the total value of your equipment.

Terms of business - the basis on which you do business with us. Click for more information.

Third-party liability - this is the same as public liability.

Unattended - whilst the equipment is not being held or used by you or a responsible adult, the items must be kept in a locked room or cupboard on in a locked luggage compartment.

Unspecified items - to save you time, we don’t need to know every little item in your gadget bag, so we only ask that you give us a total amount to cover these items.

Items must be over £30 and under £100 in value.

Voluntary excess - an excess is the amount you contribute towards the cost of a claim. Paying a voluntary excess will reduce your premium BUT in the event of a claim, this is the amount that will be deducted from your claim.