Some surprises can bring unexpected joy and positivity into our lives. However, one surprise no photographer ever wants to deal with is a lawsuit or the accident that destroys your most valuable camera. That’s where photographers insurance comes into play.
What is Photography/Videographer Insurance?
Photographers insurance protects your investment by minimizing financial risks associated with unexpected events such as a lawsuit, accidental damage to someone’s property, or your equipment.
Photographers Insurance is a broad name for different coverages available to the business owner to protect against losses and to insure the continuing operation of the business.
Major Types of Business Insurance
General Liability Insurance
- Whether it’s part of your photography insurance, videography insurance, or film production insurance, general liability insurance protects against common business risks. It can pay for medical bills if a customer is injured at your studio, or if you accidentally damage a client’s property while on a video shoot. If you decide to rent a studio, most landlords will require you to carry this policy in order to sign a commercial lease.
Commercial Auto Insurance
- Covers cars, trucks, motorcycles, and other road vehicles owned by or operated within a business. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise therefrom. Commercial auto insurance may also offer financial protection against theft of the vehicle and possibly damage to the vehicle, sustained from events other than traffic collisions.
Commercial Property Insurance
- Covers risk of loss to an organization’s buildings or personal property. Usually includes buildings, personal property of the insured business or business owner, personal property of others on site and in the insured’s possession. Coverage can be provided on an all risk or specific perils basis.
Commercial Umbrella Insurance
- Commercial Umbrella insurance is liability coverage that is in excess of specified other commercial insurance policies and also potentially primary insurance for losses not covered by the other policies. When an insured business is liable to someone, the insured’s primary insurance policies pay up to their limits and any additional amount is paid by the umbrella policy (up to the coverage limit of the umbrella policy).
Professional Liability Insurance
If you deliver wedding photos that fail to meet a client’s expectations or lose the footage from a conference panel you were hired to shoot, professional liability insurance can help cover the cost of a lawsuit. Legal expenses can add up quickly, and any dissatisfied client can file a lawsuit. That’s why it’s a good idea to purchase professional liability insurance – also called E&O insurance – to protect against accusations of professional negligence.
Business Owner’s Package
- A Business Owner’s Package (often called a BOP) is an insurance policy that combines protection from all major property and liability risks in one package. It typically combines all the basic coverages required by a business owner into one bundle. It is usually sold at a premium that is less than the total cost of the individual coverages. Business Owners Policies usually target small and medium-sized businesses and typically contain business interruption insurance, which provides reimbursement for up to a year of lost revenue resulting from an insured property loss.
Contact us to learn more about the right business insurance for you