Heads Up Photographers: 6 Reasons you Need Insurance
Are you a photographer? If you’re a seasoned pro or just got your first paid photoshoot, it’s time to get started on the right foot with the proper insurance coverage. If you’re on the job and get asked for a Certificate of Insurance to prove you got coverage, your homeowner’s policy will not cut it.
When things go wrong, you’ll want the right insurance package to protect you while also allowing your photography business to grow. It would help if you didn’t worry about paying for damages to your equipment from your pocket or costly liability lawsuits. Your photography is unique to you, and so is your business. So let’s discuss why photography insurance is vital to help you grow your business venture.
Consider these six scenarios below and ask yourself, “What is my plan if this happens to me?”
Equipment, Equipment, Equipment.
You are using your photography equipment while on safari, and your camera falls off the tripod and is damaged. Your gear can be equipment you own but also rent, depending on your type of policy. Does the image of your camera falling make you uncomfortable? Yeah, me too.
Slip & Trip
Suppose a client trips in your office or during a photo shoot; they have the right to sue you. Damages can include but are not limited to medical expenses, loss of income, and resulting pain and suffering.
Proof of Insurance
What do you do when you want to photograph in the National parks, a shopping centre or another private venue, and they require that you provide them with a copy of your certificate of insurance? Ultimately, the venue is asking to ensure you have 3rd party Liability to pay for incidents that may happen during a photoshoot. Be ready for the next photoshoot, and have your insurance prepared if someone asks for it.
Err & Reshoots
Imagine the memory card from your last wedding booking was damaged and lost all the data. This coverage is a must these days. Tech issues can come out of nowhere, and if that destroys the files after you finish a job, your client will expect you to pay for the reshooting expenses.
What if the studio you leased burned to the ground – and you were found liable for the damages? This coverage can pay for the cost of injuries to the property resulting from the tenant’s actions. Repair costs can add up quickly for commercial properties when you start adding the debris removal, labour, and material costs, so don’t be left paying for it out of pocket.
When your clients believe you made a mistake or didn’t live up to your side of the contract, they can sue you if they suffer a financial loss. Lawsuits are expensive, especially if you’re a freelancer photographer. Professional liability will cover costs to represent and defend you and pay any damages awarded for costly errors and omissions.
Insurance cannot cover all causes of losses to you and your photography business. Protecting every cause of failure would require insurance to be unreasonably expensive; however, many of these losses are common, and some can be financially devastating to your business.
Before you start your business venture, reach out to your agent or broker to learn more about your coverage options. Already a seasoned photographer? Excellent! Discuss risk management strategies with our team of experts to help you protect what matters most.
To figure out how much a photographer’s insurance policy would cost, try out our online quoting tool!