Insurance. It's a word that can send shivers down your spine.
On the one hand, just about everyone has had a bad experience with an insurance company. High deductibles. Policies that are hard to understand. All that time required to chase down your insurance broker...it's just not a fun experience.
On the other hand, insurance can be expensive, too. And when you start your business, every dime in your pocket counts!
But buying insurance and getting yourself covered doesn't have to be a gut-wrenching experience any longer.
There are better choices - ones that are turning the photography insurance industry on its head.
Misconception #1: All Coverage is Equal
As you've no doubt discovered in your photography career, not all camera lenses are created equal.
Well, just like there's okay glass, good glass, and better glass, there's differences in the types of coverage you can get from different insurance companies.
Some photography companies limit your coverage in a way that puts you in a vulnerable position.
For example, if you have general liability coverage that only offers up to $100,000 of protection, that could spell disaster for your business if you're sued for damages that exceed that amount.
Likewise, some photography companies have impossibly high deductibles that might be difficult for you to cover in the event that something goes wrong.
But other photography insurance companies offer complete coverage that gives you peace of mind.
Next Insurance, an insurance-technology company in Silicon Valley, has a Pro Plus plan that includes $1 million of general liability coverage with a $0 deductible.
Also included is $25,000 of equipment protection coverage with a $500 deductible.
Let's break that down a little bit...
If your light stand falls on and injures your client, and they sue you for $100,000, you're covered.
If you accidentally damage property in the process of working, you're covered up to $25,000.
Heck, if you have a moment of clumsiness and drop and break your $5,000 camera on the ground, you're covered!
Next Insurance will even give you the actual cash value of damaged or destroyed gear, that way you can quickly replace what you need to continue working.
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Misconception #2: I Probably Don't Need Insurance for My Particular Business
Maybe you work out of your home. Perhaps you have a mobile photography business. Or you might not even have an "official" business yet.
Whatever the case, thinking that you probably don't need insurance is a line of thinking that can only lead to disaster.
Equipment gets lost, stolen or damaged. Clients accidentally get injured. You make a mistake and cause damage to someone else's property...
It's events like these that happen all the time. And it's also events like these that can lead to disaster for your business if you don't have the proper coverage.
If you're working with other people, on other people's property, or even use the images you take of other people to promote your business, you need to be covered by a comprehensive insurance policy.
You never know when something might go wrong. Don't let unexpected events derail your photography dreams. Instead, be prepared and get your business insured today.
Misconception #3: You Have to Buy Insurance Through an Agent
Plain and simple, if you need photography insurance, you do not have to buy it through an agent.
In fact, you don't even have to leave your home or office to get the coverage you need.
Next Insurance was established by a small group of friends that found it extremely difficult to get the insurance they needed for their company.
That awful experience compelled them to start Next Insurance and begin a revolution in the insurance industry at the same time.
Not only is there no broker - which means you can avoid the middleman and avoid paying fees as well - but you can get a quote and your policy quickly and easily online.
In a matter of a few minutes, you can peruse different policies and coverages that you can get with Next Insurance, sign up for the type of coverage you need for your specific business, and do it in a way that saves you money at the same time.
In fact, they have policies that start at just $21/month, so you can rest assured you won't be breaking the bank to get the insurance policies you need. You can even choose to pay for your coverage on a month-by-month basis!
And when you need proof of insurance, just hop on their website and print one off for free. It's really that easy!
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Misconception #4: All Insurance Companies Stink
As I've noted throughout this article, not all insurance companies are big, scary organizations that try to screw you out of your hard-earned money.
Instead, companies like Next Insurance, which is a small business itself, are built on the idea that giving customers a high-quality product doesn't have to be difficult or expensive.
The folks at Next Insurance understand that building a successful business takes a ton of time and effort. And that means that you can't spend hours and hours trying to track down your insurance agent to get answers to your questions.
Instead, Next Insurance has simplified the process, cut out the middleman, and offers you personalized service with products and coverage that are unique to your needs.
In short, don't let common misconceptions about insurance get in the way of having the proper insurance coverage.
Instead, work with Next Insurance, get the coverage you need, the customer service you demand, and do so at a price you can afford.