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Photography is gaining attention worldwide, with 70% of commercial firms investing in visual content marketing for their businesses. Whether you’re a freelance or full-time photographer, you need an insurance cover to avoid hurting your business due to issues like potential lawsuits.
For example, during a photoshoot, property allegations can cause you to compensate the complainants, straining you financially. You can avoid such unfortunate occurrences by having the right insurance cover for your business. Here are types of insurance photographers need:
Equipment Insurance
Equipment insurance covers damage or loss that may occur due to various reasons. Particular coverage policies define the causes of the loss and the type of equipment. For example, if you’re a photographer, you may want an insurance policy covering business interruption, computers, lenses, and cameras, among others.
Equipment insurance can also include losses you may incur due to theft. For instance your camera might get stolen while taking photos of a couple that hired you to take memorable photos of them walking to their favorite restaurant for dinner. Also, your equipment might experience severe weather impacts. If you rent a studio, do not assume the property owner’s insurance coverage consists of the renter’s equipment loss because many policies may not offer this provision.
Property Insurance
Do you rent or own a studio? Protecting it, including your items with an insurance cover, is vital. You may also consider protecting your earnings. Sometimes an event may occur, leading to the damage of the photoshoot location.
That may cause you to incur losses, but an insurance cover may help you recover. While some property covers may include equipment, you should read and understand the policy or consult with photographer insurer experts like Aaduki.
Public liability
If the public, including those who visit your premises and your clients, claim your business, a public liability cover can protect you and your enterprise. Potential lawsuits from the public due to incidents related to your business may demand you pay for:
Damage or loss of property
Personal injuries
Death
For example, public liability lawsuit against photographers may include:
Someone else getting injured after tripping over your equipment
A customer tripping over a cable during a photoshoot and sustaining injuries
Your tripod scratching a venue’s expensive floor, requiring you to settle repair costs
Many customers and venues need a photographer to have an insurance cover for public liability before they can hire you.
Life Insurance
All small business owners need a life insurance policy. Life insurance offers you and your family peace of mind because it can cover you if death occurs. While savings can help during such unfortunate events, life insurance covers can ensure you don’t incur debts that can lead to your business’s closure.
Do You Need an Insurance Cover?
According to the 2010 data from the Bureau of Labor Statistics, self-employed photographers accounted for 63% of all American photographers. If you’re in this field, it’s crucial to understand the risks involved.
Operating without an insurance cover as a photographer can ruin your business. Some clients may want to see your insurance proof. That means it enables you to stand out and achieve a competitive advantage against your competitors.
Photography can be a rewarding career for many people, but you need to have an insurance cover to operate without issues. If you’re running this kind of business and don’t have insurance, do not wait to run into trouble. Consult with experienced photographer insurers and find policies that suit your needs.
