subject: Checking Out Photographers Insurance Policies [print this page] The cost of buying cameras, lens and lights are major investments for a professional photographer. It may be time to investigate photographers insurance to protect that investment. These tools are essential for a photographer to capture the images that are the core of the business and might require specific coverage. Some places, such as convention centers and hotels, ask that all contractors provide proof of coverage before working on their premises. Therefore, it may be a good idea to look into the options for photographers insurance.
Insurance typically covers your equipment from damage, theft or loss. This is often essential protection for expensive equipment. If you are not taking commercial photos or footage, you may be able to add a rider to your homeowners or renters insurance policy, the same policy that covers your other personal possessions. Often, however, these policies specifically do not cover equipment used for business purposes. Business equipment, such as cameras, computers and editing software, may be specifically excluded.
You might be able to combine insurance for your equipment with business liability coverage. General business insurance can have a special endorsement added for photographers. This is something to check with an experienced agent. Many venues require that all contractors carry certain levels of coverage in order to work on their property and your business insurance can provide you with proof of coverage.
A deductible, in insurance terms, is the amount you pay out of your own funds to settle damages before your policy kicks in. A larger deductible means you will pay a higher amount before filing a claim. One advantage is that you may qualify for lower monthly payments. But other policies may offer a higher premium and a lower deductible.
Often, carrying a higher deductible is a recommended approach. This means that you will cover small losses without filing a claim. One advantage of this approach is that you are not making multiple claims against your policy, which could create a high risk profile for your business. This might cause your next policy to be quoted at a higher rate.
It is worth getting good coverage before you need it or lose jobs because you do not have it. An agent can advise you if one comprehensive business policy may be a good option for the type of work that you do.
Due to the number of lawsuits that are filed these days, good insurance provides protection for your equipment and your business. Photographers insurance can provide peace of mind. Find an agent with whom you are comfortable and work with him or her to determine the coverage right for you.
by: Roddy S Cooper
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