5 Types of Insurance Every Photographer Needs
While success in photography depends on creativity, the business decisions you make are just as important. You already have a lot on your mind when it comes to setting up shoots, meeting your clients and taking photos. And it’s no secret to you that getting your job done comes with a lot of unpredictable factors.
Photographers insurance is a reliable way to not only protect you and your property, but also put your mind at ease. in fact, in your line of work, it’s a must!
Let’s look at 5 important types of insurance that every photographer should have.
the importance of insurance for photographers
Some of the risks involved with a photography business can be big, especially when it comes to the equipment you’re using. a photographer needs to have insurance to protect their assets. general liability insurance is needed in case they are sued for an injury, or some type of property damage and property insurance is needed for the very valuable equipment being used.
This brings us to the three most important reasons why a photographer needs to have the right insurance for their business:
Medical expenses. If there is an accident during a photo shoot and it turns out to be your fault, you may be responsible for medical expenses. for example, someone might trip over your bag or gear or get hurt by a light you’re using. even when you take every precaution you can think of; accidents still happen.
damage and loss of equipment. As a photographer, his equipment is a vital component of his business. If something were to happen to this expensive piece of equipment, it can be difficult to come up with the money to repair or replace it. equipment insurance is an affordable way to protect your equipment.
lawsuits. This is a common reason for a professional photographer to purchase insurance for their photography business. lawsuits between friends, for example, can put you out of business, even if you are not responsible and did not show negligence. As a photographer, you may run into a situation where you agree to photograph a wedding for a friend or family member and that friend or family member decides to sue you. A professional liability insurance policy can help.
For all these reasons and more that we will detail below, insurance for photographers is essential.
Please note that the following is for informational purposes only. For answers to specific questions or to find the best option for you, consult with an insurance agent and attorney.
#1 professional liability – errors and omissions
Professional liability insurance, also known as indemnity or errors and omissions insurance, protects your business if you’re sued because a customer isn’t satisfied. It also protects your business in the event a customer files a claim that you failed to deliver agreed services. this applies whether the error is real or perceived.
This coverage could benefit your business if you provide services or advice to customers on a regular basis. in some cases, a customer may even require you to have this coverage to fulfill a contract.
what does professional liability insurance cover?
A client may claim they did not complete services for any number of reasons, from forgetting a detail they specified prior to filming, to a wedding film fire destroying before they could develop it. unforeseen events can be costly when it comes to a lawsuit. And it’s not always possible to predict how a client will respond to her work, whether or not she made a legitimate mistake. Professional liability coverage can protect you in a situation like this, even helping you recover some of the income you lost in court fees.
#2 general liability insurance
In many cases, it’s not enough for a photographer to just have professional liability insurance. General liability insurance coverage can protect your business if another business or individual claims physical injuries, resulting in medical costs or property damage. Here are some examples of situations where this type of coverage would help:
The profession of photography involves setting up equipment quite often. this can increase the risk of trips and falls, and the chances that they can make a claim against you for it. General liability coverage could protect you against third-party claims for injuries and medical costs for these types of situations.
defamation, slander or slander:
Being a photographer can sometimes mean working with high-profile clients. If you have employees who will also be around such high-profile clients, gossip can arise, which can lead to celebrity lawsuits against your business. general liability insurance can help you with settlement and defense costs in this type of scenario.
costs of damage to the client’s property:
Installing equipment and working with employees can cause accidents. If you’re at a client’s home for a portrait session and something is damaged, general liability coverage can help cover the associated costs.
#3 business property insurance
many business owners think that general liability coverage is enough to cover both their own losses and the losses of their clients. But in most cases, general liability insurance policies do not protect you in terms of your property. A business owner’s policy is one way to make sure your property is protected.
company owner policy
This is a combination of commercial property insurance and general liability insurance. is an excellent choice for professional photographers who are concerned about protecting themselves and their business. A business owner’s policy can be used to cover small businesses that also need business equipment protection.
Photographic equipment, in particular, requires special care and protection because, as you and all other photographers well know, it doesn’t come cheap. Here are a couple of scenarios where a business owner’s policy could help cover the costs of:
Photography equipment may be damaged. if you accidentally dropped your computer bag, damaging your portable hard drive in the process, you wouldn’t be able to get your photos. In such a case, your business owner’s policy may help cover the cost of recovering this latter data. It could also help you pay to repair any other damage you may have sustained from dropping the bag.
damage to commercial equipment
videos and images require proper cameras and other professional items. You wouldn’t photograph a wedding without top-notch equipment, right? With business owner coverage, you’ll get general liability protection and photographic equipment. Let’s say you’re in the studio and one of your lights falls off and breaks. A business owner’s policy may help cover the costs of this damage.
#4 electronic data loss insurance
In our modern age, your electronic data is crucial to the success of your business. Electrical data loss protection coverage helps protect your business in the event that important business information is lost. this covers lost or damaged electronic data and information, e-commerce coverage, and computer outages.
It’s impossible to know when your important data might be lost because computers and related devices can be unpredictable. There are also unfortunate events like fire or flood that can cause electrical damage and data loss. this is why protection is absolutely necessary for any professional entrepreneur.
for example, while the standard hiscox business owner’s policy described above covers up to $10,000 for some restoration or replacement costs, it may not be enough.
upgrading to electronic data loss protection increases your loss limit to $25,000. however, this update does not cover the actions of employees, their personal errors, or their responsibility for data loss.
#5 business auto insurance
If you’re a small business owner and frequently use vehicles at work, you need business auto insurance. This protects your business from the everyday risks associated with driving. Even if you are one of the many photographers who rely on your personal vehicle for work, your personal insurance coverage will only apply to your travel to and from work.
Many business owners mistakenly assume that commercial auto insurance coverage isn’t necessary and that only people with company trucks need it. but if you have employees who drive to attend to commercial matters with their own cards, during business hours, commercial insurance is necessary. If any of your employees are driving other workers or materials to a job site, a commercial insurance policy is necessary.
Without protection designed specifically for commercial vehicle use, your business is at risk every day. don’t leave this to chance; Give yourself the peace of mind of a commercial auto insurance policy from hiscox.
responsibility for leased/non-owned automobiles
hiscox offers liability insurance for leased/non-owned automobiles. This optional upgrade will protect your business in the event you are held liable for damages caused by an employee with a personal or rented vehicle. to apply, the damage must have occurred when the employee used the vehicle for a business-related task. Please note that this is protection for your business, not necessarily those who work for or with you.
this update covers:
-liability claims -employee actions -defense costs.
does not cover:
-transport of goods -physical damage
learn more about hiscox photography business insurance.
this pixpa resource also has great information on the different types of photography insurance coverage.
what about cyber liability insurance?
Cyber liability insurance is something many photographers and videographers consider because it offers them protection against data breaches and hacking incidents. it is an insurance policy that pays the costs of recovery. some policies also cover customer notifications, credit monitoring, legal fees, and any fines that may apply.
If you’re a photographer who accepts credit cards, stores client information digitally, or conducts any of your business online or in the cloud, then cyber liability insurance is definitely something you’ll want to consider.
can commercial insurance help with copyright infringement?
Companies have the right to protect their copyrights and trademarks. however, errors can occur. If you are facing an infringement lawsuit, it is critical that you act. if you have commercial insurance, you should tell your agent right away.
Some commercial insurance policies will help with copyright infringement. if the claim is small, your insurance company may pay the settlement for the material. however, you should make sure you have the right type of insurance policy for this type of coverage. A basic general liability insurance plan may help only a little, but it may not help at all.
where can i get coverage?
histcox offers insurance policies tailored to the needs of small businesses, like your photography business.
With the scenarios mentioned above and the benefits hiscox offers, it’s clear why they are the best choice for professional photographers. Policies are easy to configure, leaving you with more time to focus on your creative work. Here are some common benefits of choosing Hiscox for your business insurance coverage:
you can buy directly
You can immediately obtain insurance coverage with hiscox. just go online and buy it and you’ll be covered.
competitive and affordable rates
In some states, business insurance with hiscox can cost less than $25 per month.
read more about hiscox photography business insurance.
Photography insurance not only protects you, it can also protect your clients and help you pay for unexpected legal expenses or attorney fees. items were getting lost or damaged all the time and working with people can be very unpredictable. You’ve worked hard to build your business, so don’t let these unexpected events put you at financial risk.
Contact an insurance company today for an insurance quote to start protecting yourself and your photography business.