It might be a bucket-list holiday, a milestone birthday or simply your little one doing something cute – memorable moments caught on camera are like a gift to your future self. And if you’re a professional photographer, it might even pay the bills.
So, if you’re someone who loves photography enough to get a dedicated camera – apart from the one included in your smartphone – you might have some questions about camera insurance.
Are cameras covered by home insurance? And if you’re planning on taking yours away on holiday, are you still covered? And is business insurance for your camera your best bet if you take photos for a living?
Let’s explore these questions and more.
Could you replace your camera without insurance cover?
If you aren’t sure whether or not you need cover, such as Contents insurance, the federal government’s Moneysmart website suggests asking yourself if you could afford to replace personal items – such as your camera – if they became damaged or lost.1
While cameras vary greatly in price, even an entry-level model from a well-known manufacturer such as Canon can cost upwards of $1,049.2 On the other hand, a Canon camera designed for industry professionals can cost well over $10,000.3
And whether you’re a professional or a passionate amateur photographer, there may also be some extra camera-related costs to cover if loss or damage occurs – for example, camera bags or an additional camera lens or two.
How can you cover your camera for theft?
While the latest figures from the Australian Bureau of Statistics show a decrease in house break-ins over the last decade, 217,600 households in Australia experienced a break-in between July 2023 and June 2024.4
Youi Contents insurance offers cover for theft of belongings during a burglary at the insured premises as an insured event.5
Scenarios when having your camera covered by insurance might be helpful
As well as providing cover for your camera if it gets stolen while you’re on holiday, insuring your camera under contents cover can help to protect it in other ways too.
If you accidentally damage your camera
“At Youi, if you have Contents cover with us, and your camera is for personal use only, not business, you may have the option to add Contents Accidental Loss or Damage to your policy,” says Mervyn Hartley, Youi’s Head of Product for Home and Small Business.
Accidental damage may occur as a result of a number of different scenarios, including if you or someone else in your household accidentally drops and breaks your camera or spills a drink all over it and it no longer works.
“If you’ve added Contents Accidental Loss or Damage to your policy, it means your camera is covered for accidental damage that occurs away from home too – for example, if it falls out of your bag and smashes on the ground while you’re at the park with your kids,” says Hartley.
If you lose your camera while you’re overseas
“Our Contents Accidental Loss or Damage cover even extends worldwide,” says Hartley. “So, if you lose – or accidentally damage – your camera while you’re away on holiday in another country, for example, that’s also covered as an insured event if you have this optional cover.”5
If you experience a natural disaster
Youi Contents insurance also provides cover if your camera is lost or damaged in the event of a bushfire, flood, storm or an earthquake.5
How to insure a camera
If you’ve recently bought a camera that’s worth less than $15,000 for your personal use and you have Youi Contents insurance, Hartley suggests reviewing your sum insured, which is the amount it would cost to replace all your contents. This will ensure your camera is accounted for.5
“And when you’re working that out, keep in mind that with Youi your contents are covered on a new-for-old basis,” he says. “This means that in the event of an accepted claim, Youi will either replace or pay to replace an item with a brand-new equivalent. You may be surprised how quickly things add up at today’s prices, compared with what you originally paid for them.”
If you choose to, you can also add Youi’s Contents Accidental Loss or Damage to your Contents insurance policy, which will mean your belongings, including your camera, are covered against this type of loss or damage.5
What about insurance for photographers?
If you’re a professional photographer and you want to take out insurance for your camera and other equipment, you may need to look at your business insurance options.
Youi Small Business insurance has an optional cover you can add for loss or damage that occurs to portable business items anywhere in the world.6
“If the replacement value of any of your camera equipment is more than $2,500, you can select a specific amount to insure it for, and that equipment will then be covered and included on your policy schedule as a high-value business item,”5 says Hartley.
It can also be helpful to keep any tax invoices and receipts that relate to the camera equipment you’re insuring. “In the event of a claim, you may be asked to provide proof of the value and your ownership of your professional camera gear,” Hartley adds.
Whether you’re a professional photographer or someone who simply enjoys capturing life’s special moments, consider starting a quote to find out if Youi’s Contents insurance or Small Business insurance may suit your circumstances.
Note: Information in this article is relevant as of April 2025 and by its nature will change over time. Check relevant camera manufacturer websites for price and specification updates if this information is important to you.
1 Source: Moneysmart – Contents insurance
2 Source: Canon – EOS R100
3 Source: Canon – EOS R1
4 Source: Australian Bureau of Statistics – Crime Victimisation, Australia, March 2025
5 Exclusions, limits and additional fees may apply. See the Home & Contents PDS for full details.
6 Exclusions, limits and additional fees may apply. See the Small Business insurance PDS for full details.
