Running a photography business can be extremely rewarding. Not only do you get to visit new destinations and meet interesting people, but it gives you the chance to unleash your creativity.
While it might seem this career choice wouldn’t run into many problems, it can, especially if you’re working with others. This is why obtaining liability insurance is a must. Below you’ll discover more about why it’s essential and how it can protect you.
Why Should Photographers Get Liability Insurance?
There are countless reasons why photographers should seriously consider investing in liability insurance. One is that it covers you should there be job errors. For instance, if you propose a certain location and photoshoot idea, but it ends up not working out, liability insurance will help cover this should there be a dispute.
This insurance also safeguards your equipment. You never know what might happen on the job. For example, if your cameras or lights get damaged, liability insurance can cover the costs for repairs. It can also help you purchase new ones should they be stolen. It can even pay for medical expenses if you’re injured on the job. If the injury is severe enough, you might also be approved to receive workers’ compensation.
But apart from covering your clients and yourself, liability insurance is often legally necessary, particularly if you plan to hire employees. Some clients might not even work with you unless you can prove you’re insured.
How Photography Liability Insurance Works
Getting liability insurance probably sounds like a daunting task, but it’s much easier than you might think.
To better understand your needs and the right photographer liability insurance cost, your insurance agent will require you to answer a few questions. These might include:
- What is your photography specialization?
- Do you have employees?
- How often do you travel for your work?
- What type of vehicle do you drive for the job?
They’ll then take this information and design a package around it. This will range from basic coverage to pro options. Then, after receiving your official Certificate of Insurance (COI), you can confidently get to work!
If you ever need to file a claim, contact your insurance provider immediately and notify them of the situation. They’ll then submit your request. You should hear back within a few days of whether it was approved or not.
Keep in mind, though, that while insurance covers most claims, not everything is covered. This will depend on how drastic the problem is. If you file a claim for a minor issue (like an unsightly camera scratch), insurance won’t typically cover this. If you continue to make these types of claims, you risk your premium rising. To prevent this, make sure that the issue is substantial enough to be filed.
Can I Use Other Insurance Options for My Photography Business?
If you have homeowner’s insurance, you might think you’re already covered. While this could be true in some cases (especially regarding equipment), it doesn’t fully protect your photography business. Because of this, it’s better to be safe than sorry and invest in insurance created specifically for this industry. If you’re not sure whether you can afford it, don’t worry. You can ask for a quote that will give you a general idea of what you’ll need to pay.
3 Tips for Finding the Best Liability Insurance Provider
1. Understand Their History
One of the best methods to determine if an insurance agency is right is to research its history. With this, you’ll get a backstory of their origins, their leadership, where they’re located, and their specializations. This will help you determine whether you should move on with them.
2. Check Their Reviews
Another way to tell whether a provider is ideal is to read their reviews. This will give you a good idea of their current and previous customers’ perception of their service. You could also ask around to see if anyone you know has used them and what their opinion of them is.
3. Compare Rates
Insurance costs vary depending on the company. Some might be very high and others extremely low. It’s important to pay close attention to this. Just because there’s a high rate doesn’t mean that you’ll get vast coverage. Conversely, shockingly low insurance rates can also be questionable as they usually don’t protect you very well.
To understand the differences, jot down the providers you’re interested in and their rates. You could also find an online rate comparison guide. This will give you a better understanding of what provider works well around your budget and needs.
Liability insurance is vital for photographers who want to protect their business from lawsuits and expensive damages. By keeping this information in mind, you can determine whether this insurance works for you and how to find the perfect insurance agency.