Have a Photography Business? This is Why You Need Insurance
If you own your own business, you understand the sheer amount of work, effort, and time it takes to make it into a successful venture.
You also understand the need to rely on others - from an assistant to a bookkeeper to your family and friends - to get the things done that need to get done.
It's a lot of work, to be sure, but the rewards of self-employment can be awesome.
To make the most out of those rewards, you have to protect yourself, your gear, and your business from harm.
One way to do that is to have the right insurance policies so you're protected in case something goes awry.
Yet, many self-employed photographers overlook this all-important step, putting their livelihood in grave danger.
Here's a quick review of a few reasons why photography insurance is a must.
You Need to Protect Your Business
Liability insurance is an absolute must-have, because if disaster strikes - a client injuring themselves on your property, for example - you need an insurance policy to protect you.
Even if their injury is minor, the expenses of being sued (not to mention the time it would take away from working) can add up very quickly.
A general liability policy helps protect you in such situations. In fact, some companies offer policies up to $2 million per occurrence ($4 million aggregate). That means you have the peace of mind that inviting clients to your property to do a consult or a photo shoot won't end up with you in court if they somehow get injured.
You Need to Protect Yourself
As good of a photographer that you are, that doesn't make you infallible.
Errors or accidents by your hand will occur at some point, and when that point comes, having the right insurance protection could mean the difference between your business continuing to thrive and your doors being closed for good.
Whether it's a professional error that leads to poor quality photos that the client refuses, an act of negligence on your part that results in injury to someone while on location or omitting shots the client wanted from their shot list, you need professional liability insurance.
What's more, some venues may require that you have proof of insurance before they even let you on the grounds, as they should. As a business themselves, the venues where you might be working need to ensure that the people providing services on their premises are properly covered so they don't end up in legal hot water should something go wrong.
You Need to Protect Your Gear
Second only to protecting yourself and your business is protecting your gear.
The notion that some photographers work without insurance policies to cover their expensive cameras, lenses, and other photography equipment is just plain crazy.
Yet, some photographers roll the dice in the hopes of not having to spend a few dollars on proper insurance coverage.
I don't have to tell you that's a bad plan!
Accidents happen. Some due to your actions and others due to the actions of others. You never know when you might trip and fall, damaging your primary camera body or when you might accidentally drop your lens, breaking the front element.
What's more, if you travel from one location to the next, being on the road with other drivers means that at any moment you might be involved in an accident that, in turn, damages the gear you need for your livelihood.
There's just too much risk not to have that gear protected!
By investing in a photographic off-premises insurance policy, you've got the coverage you need to account for eventualities like those described above. With coverage up to $5,000 per item and $25,000 per occurrence, you can rest easy knowing that when an accident occurs that you can replace damaged gear in a timely fashion without having to bail yourself out with out-of-pocket expenses.
You Need to Protect Your Income
I know you might be wondering what I mean by protecting your income...
It's simple: Let's assume that your office or studio space is damaged in some way and that the damage is serious enough that you won't be able to work in that space for several months.
Then what?
You can't afford to shut your business down during that time, which is why you need a business income and personal expense policy.
This kind of policy is offered such that you can continue to work in the event of a covered loss, like fire or flood damage.
If such an event occurs, your business income and personal expense policy kicks in, giving you up to 12 months of coverage for fixed expenses and lost income due to the loss.
Additionally, this kind of policy will cover expenses related to setting up shop in a temporary location while your studio or office is being repaired.
That's not bad peace of mind!
Get Coverage From a Trustworthy Company
You might think that all insurance companies are alike and that what one offers you in terms of coverage is what the next one will offer as well.
Though many insurance providers have a lot in common, something to look for is an insurance provider that specializes in working with photographers.
For my money, no one knows the needs of small business owners and photographers like National Photographer's Insurance.
Here's the thing: photography businesses are a unique animal. During the off-season, you might just have one or two employees. During peak season, that might balloon to 5, 10, or even more.
National Photographer's Insurance understands that because, as their name implies, they work exclusively with photographers to devise coverage that works for your specific (and changing) situation.
Better still, National Photographer's Insurance is a small business, just like yours, so their agents know exactly what obstacles you face and what policies you need to protect your investment and your future.
They've been in the business for over 80 years, giving peace of mind to photographers across the country. Don't waste another minute without having proper coverage. Contact National Photographer's Insurance to get protected today.
