You have always had a knack for being able to take amazing images. Now, you are ready to take your hobby to the next level and open a photography business and perhaps studio.
Congratulations on becoming an entrepreneur and chasing your dreams! But before you start creating a logo or filling your calendar with assignments, you should talk to a local insurance agent about business insurance.
What Is Business Insurance, and Why Do Photographers Need Insurance?
Business insurance protects your photography business when accidents happen. The good news is that the right amount of coverage can take away the stress of doing business. It can also cost very little to set up a photographer-specific policy.
Included in most business insurance for photographers are the following types of coverage:
- Property coverage. Your property including cameras, lights, lenses, laptops and software are an important part of your trade. Without them, you might not be able to fulfill your assignments as promised. Plus, they can cost tens of thousands of dollars to replace. Property coverage can help you repair or replace your equipment and even items in your studio if they get damaged by a covered event.
- General liability coverage. You have several models in your studio for a big photo shoot. Suddenly, a large piece of equipment falls and injures one of the models. Now, you are being asked to pay for medical treatment and other damages. Not only are you facing a major loss of income, but you might have to close your business if the expenses get too high. However, if you have a good business insurance policy designed for photographers, you can enjoy liability coverage that will cover bodily damages up to the limits set in the policy.
- Business interruption coverage. It happened: A fire swept through the offices where you rent space for your photography studio. Luckily, no one was hurt. Still, you lost property that will take weeks to replace. In other words, you have a small income stream despite having to still pay your bills. This is a major hiccup in your operations. Yet when you have special business insurance that includes business interruption coverage, you can weather the storm without breaking stride. Your business interruption coverage may even cover relocation costs so you can set up another studio site.
Of course, business insurance may include other add-ons specifically relevant for photographers, such as:
- Professional liability coverage. What happens if you are sued due to an error in your work, such as not taking enough images or losing a batch of wedding pictures? Professional liability coverage has your back.
- Data compromise coverage. Data breaches can and do happen. If customers’ information is stolen from your computer, your legal costs could be covered by this specialized coverage.
How to Get a Quote for Photographer Insurance
You can easily start your quote for photographer business insurance in Central PA by contacting your local Strock Insurance agent. Our team will help you determine what kind of business policy is right for your startup needs.
Our goal is for you to protect your company. Find peace of mind with business insurance designed for photographers.
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