Cameras and  Equipment are valued on a Replacement Cost basis -  this is the cost to repair or replace the property/equipment with the same or other similar property of comparable material and quality used for the same purpose without deduction for depreciation.
Because replacement costs can vary, we recommend that you round up the value you choose for your equipment limit (e.g. if you estimate the replacement cost of all your gear as $12,756 CAD, select $13,000 as your equipment limit).
Please note that mid-term changes to your policy limits are subject to a $25 change fee. If you know that you will be acquiring new equipment during your policy term, you may wish to include the value of this equipment in your limit total. Generally, the equipment limit represents the maximum amount that the insurance company will pay for any one claim. It limits the amount that you could receive from a paid claim. It should be adequate to cover the replacement costs of every item insured under the policy.
If you have any questions regarding how your equipment  will be valued, please contact our office.