Two co workers at a studio

How Photography Insurance Protects Your Studio

Congratulations! You have a booming photography business and you just bought your very own studio! Business is good and you are thriving in your element! You have everything checked off your list… except for photography insurance.

Your studio is a place of art and you want to protect it. Because of your profession, your studio is full of expensive equipment, customer records, business records, and much more. Because of that, it is susceptible to a slew of liabilities. From trip and fall injury claims to stolen equipment it is important to protect your studio from the hazards of everyday business management.

Keep reading to learn more about how you can protect your studio.

What Is Photography Insurance?

Photography insurance provides photographers with a financial safety net from claims as they run their photography business. Common risks can include trip and fall injury claims, property damage, loss of photography equipment, and more.

Policies include general liability, professional liability (or errors and omissions insurance), camera equipment coverage, and cyber liability insurance.

How Can Photography Insurance Protect Your Studio

Like anything in life, it’s important to protect what’s important to you. Full Frame’s photography insurance protects your studio through general and professional liability, camera equipment coverage, and cyber liability.

General Liability – $1M per Claim / $2M Total Coverage per Year

Anyone who comes into your studio is a liability risk. Photography studios generally have a plethora of equipment, including lighting props, backdrops, extra cameras and lenses, and electrical cords. General liability coverage protects your business from the cost of third-party bodily injury and property damage. With trip and fall injuries as one of the most common claims a business owner can face, it is important that your business is protected.

Professional Liability – $100K per Claim / $200K Total Coverage per Year

Professional liability coverage can protect your business from the cost of negligence claims or if you have a faulty memory card. This is great coverage to have if you teach classes or run demonstrations out of your studio.

Inland Marine/Equipment Coverage – $1K per Claim / $5K Total Coverage per Year

Protect your studio equipment with camera equipment insurance. Your studio is full of expensive equipment, ranging from lighting stands, backgrounds and green screens, camera lenses, and power cords. In the event that your studio is burgled and your equipment is stolen or damaged, you could be facing tens of thousands of dollars or more in out-of-pocket expenses. Equipment coverage can protect you from that cost.

In addition to a burglary, if your studio is damaged in an accident, like a fire, camera equipment insurance can help mitigate or eliminate costs of replacing or repairing damaged equipment.

Cyber Liability – $100K per Claim / $100K Total Coverage per Year

Do you store information online? On a Computer? Tablet? Then you are susceptible to a cyber security breach. With cyber crime on the rise it is important to protect your studio and business with cyber liability coverage. Cyber liability covers both first- and third-party liability claims.

Own vs Rent

When considering photography insurance for your studio, it is important to take into account whether you own or rent your studio. If you rent your studio it would be wise to include Damage to Rented Premises coverage to your insurance policy. This coverage can protect your business from the cost of claims stemming from damages done to the rented space. This coverage not only includes the rented studio but also things like booths at an event.

When renting a studio or booth, it is common practice for the studio owner or event organizer to require photographers to list them as additional insureds on the policy. For just $30, you can add unlimited additional insureds to your policy.

What Are You Waiting For?

With so many uncertainties in running your business it is important to protect your studio with photography insurance. In the long run —and short run— it can protect you from the financial burden of paying for claims out of pocket. You never know when you’ll need to use your insurance and running a business can be unpredictable, so take a little stress off your shoulders and protect your studio today.

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Cyber Liability

Cyber liability insurance protects your business from the cost of first- and third-party claims that arise from a cyber security breach within your business. Cyber crime has become a common threat for businesses both big and small. If you collect or store business information online on a computer, tablet, or mobile device, we highly suggest including this additional protection to your policy.

Professional Liability

Professional liability insurance can protect your business from the cost negligence claims that arise from professional errors and omissions, like giving bad instruction or failing to provide necessary information on a subject. If you teach classes or run demonstrations as part of your business, we strongly recommend this additional coverage option.

Additional Insureds

When you add a person, event, or organization to your policy as an additional insured, they receive protection if they are named in a suit due to a covered business-related loss/claim because of your actions or operations.

Additional insured status cannot be granted to a friend or co-worker as an extension of your policy. Each individual must purchase their own policy to obtain liability coverage.

A written contract, such as a venue, studio rental, or employment contract is required to add another party as additional insured.

General Liability

General liability insurance can protect your business from the cost of third-party bodily injury and property damage claims, like if a client trips on your business equipment and injures themselves. It also protects against the cost of copyright infringement claims, personal and advertising injury claims, and more.

Damage To Rented Premises

This coverage can protect your business from the cost of claims arising from damages done to rented spaces, like a studio or event booth. It’s common for property owners and event organizers to require businesses to list them as additional insureds on a policy before renting a space. Full Frame provides unlimited additional insureds for just $30.

Camera Equipment Coverage

Also known as inland marine insurance, camera equipment coverage can protect your business from the cost of repairing or replacing damaged or stolen business equipment—including camera bodies, lenses, lighting equipment, and more. Our policy can protect against claims that occur at home, on a job and anywhere in between. Full Frame offers multiple coverage options for equipment insurance based on your business needs.