What insurance is required as a start-up photographer?March 30th, 2018
If you’re just beginning as a professional photographer then there is a lot to think about in terms of getting your business off to the right start. Many people assume that photography is the kind of business where there are so few risks that insurance isn’t necessary. However, that’s not the case – wherever you are interacting with the public or getting paid for goods or services it’s always important to ensure that you have some coverage. So, what photographer insurance is a good idea and why might you need it?
Professional photographer insurance options
As a photographer, your equipment will be the tools of your trade and without it you may struggle to make a living. Professional photographer equipment could be anything, from cameras and lenses through to the computer hardware and software that you use for editing. Business equipment insurance provides coverage in the event that your kit is lost, stolen or damaged and will enable you to buy replacements or pay for repairs so that your new business doesn’t stumble. Crucial to buying photographer equipment insurance is to calculate the exact value of the equipment that you want to have covered. If this isn’t correct then you could find yourself without enough coverage to make full repairs or replacements.
Professional indemnity insurance
If your clients believe that you’ve fallen short of their requirements – or if you struggle to fulfil any part of an agreement for your services – then professional indemnity insurance could come in very handy. For example, you might get complaints about the quality of photographs from a client or you may experience a problem, such as a memory card full of photos being stolen or corrupted. In the event that something like this happens and clients feel that you’ve provided an inadequate service then professional indemnity insurance will be an important safety net. It can be used to help cover legal costs if clients bring legal action against you, as well as any compensation that is required.
Additional photographer insurance options
As well as insuring equipment and protecting against issues with performance or deliverables, there are other situations that may require additional insurance, depending on the structure of your business. These could include:
Employers’ liability insurance
Start-up photographers without employees don’t need to consider this. However, it is usually a legal requirement for businesses with even a small number of employees and one that is essential in case anything happens to those employees in the course of working for you.
Legal expenses insurance
Any type of legal action can be expensive and could cripple a new business. Legal expenses insurance will protect you against taking a big financial hit as a result of legal action.
Business interruption cover
If you’re not able to carry out your business then business interruption cover could supplement the income until you’re back on your feet.
If you’d like to find out more about how to protect yourself with insurance as a professional photographer then contact a member of our team.