Gathered here are links to discussions and reviews on insuring your cameras, lenses and other digital photography equipment, and whether it’s necessary to purchase extended warranties.
Greg Henry’s suggestion on floater policies and warranties (added September 20th, 2008)
Many insurance companies have “floater policies” for equipment that run separately from the main policy.
Example: I use State Farm for renter’s insurance. I have a main policy with a $500 deduct for general belongings if they’re damaged or stolen, but I have floater policies for a couple of my camera — no deduct on those, and it covers everything from my dropping it, to theft, or even if the dog pees on it. The only thing it doesn’t cover is a general failure due to manufacturer’s defect (so a store warranty would be needed for that). They’re cheap — I pay maybe $5 a month for coverage on two cameras + lenses.
Also note that if you buy a camera with an American Express card (and some other major cards), that they’ll automatically give you a 1 year warranty extended, where they will reimburse you for camera repair charges if you ever need it during that time (ask your card company for details on if they offer it). No extra charge.