It could be argued that, when it comes to Photographer Insurance, nothing is as important as getting your gear covered with Photography Equipment Insurance.
As a professional photographer, you rely on your gear daily to help you deliver stunning images for your clients, and you’ve likely invested thousands—if not tens of thousands—of dollars to make sure you have the right gear for the job.
Can you imagine how you would feel if you woke up one day to find that your gear was broken beyond repair? Or, what if, while at a job, some particularly expensive gear was stolen, and you weren’t able to recover it?
With the amount of time and money you invest in your gear, it’s not just a smart decision to do something to protect it—it’s absolutely necessary. While many insurance providers include Photography Equipment Insurance as part of their Photographer Insurance plans, it’s often hard to know exactly how much coverage you need until it’s too late.
If you’re unfamiliar with the ins-and-outs of Photography Equipment Insurance, don’t worry. Full Frame is here to help you understand what it is, why it’s so important, and how to add it to your coverage plan if you don’t already have it.
Most importantly, we’re going to show you how you can make sure you’re getting a good deal from your insurance provider.
What Is Photography Equipment Insurance, Anyway?
Photography Equipment Insurance, when done right, is designed to protect professional photographers from the financial consequences of damaged or stolen gear. In other words, it keeps photographers like you from paying out of pocket should anything happen to your gear.
While there are many Photographer Insurance policies out there, good equipment insurance will cover your gear no matter where it’s located—at home, in your car, over seas, etc. It’s important because you never know where your next job will take you. Having comprehensive gear coverage makes sure your stuff is protected no matter where you are.
Generally speaking, Photography Equipment Insurance can be broken down into a couple different coverage policies, as follows:
Inland Marine – covers the gear you take with you when you go out on a job. It protects your equipment no matter where it is, whether it’s at your house, in your studio, in your car, or on-site. If you’re a photographer on the go, inland marine coverage is a must have to protect your gear.
Business Personal Property – covers your gear and other business equipment as it pertains to a certain area, like your photography studio or home office. If you keep a lot of gear in one place, or have a location where you do a lot of business, this equipment will make sure it’s covered no matter what may occur.
If this sounds a little complicated, you’re right—insurance jargon is totally a pain. Don’t worry too much about it, though. The important thing to know is that with good photographer insurance, you can have financial protection for just about anything that can happen to your gear no matter where your next job takes you.
But Do I Really Need Photographer Insurance?
The truth is it’s always a good idea to protect your photography business.
As a professional who works intimately with your clientele, you—and as a result, your photography business—face a unique set of risks every day even beyond what can happen to your gear. Photographer Insurance is designed to create a safety net that mitigates the financial burden of third-party insurance claims should you ever be held liable for an accident that occurred involving your business.
Let’s look at some examples:
Let’s say you’re in your studio taking photos for one of your clients when one of their children trips on a lighting cord and falls, splitting their head on the floor. Because the accident took place in your studio and involved your equipment, you could be held liable to cover the cost of medical bills if your client decided to sue. Without Photographer Insurance, you would have to pay those bills by yourself.
Or, let’s say you finished capturing a client’s wedding reception and, upon returning home, discovered that your memory card was corrupted and the photos of the event are lost. You may be able to pay someone to recover the lost photos, but if you can’t, you could be sued by your client for breach of contract. Without Photographer Insurance, you would be required to pay for the cost of data recovery, legal defense, and more all out of pocket. We offer professional liability as an add-on.
Unfortunately these are just a few examples of the many risks that professional photographers face on a day-to-day basis. Others risks photographers face may include:
- Third-party slip and fall accidents
- Third-party property damage
- Damage to photography equipment
- Equipment loss due to theft
- Equipment failure
- Breach of contract, or failure to deliver agreed upon services
Without any kind of insurance to protect your business, you may find yourself covering hefty costs on your own just to keep your business afloat.
For all these reasons and more, protecting your business with Photographer Insurance is the smart thing to do. Luckily, many providers include multiple coverage options—including general liability, professional liability, and cyber liability—in addition to their Photography Equipment Insurance policies so you can protect yourself from all the unique risks associated with running your photography business.
How Much Does It Cost to Get Covered?
The cost of insurance is going to vary by provider and the kind (and amount) of coverage they provide. Unfortunately, there’s no set rule for which policies constitute Photographer Insurance, so it’s important to take note of each plan and how much they charge for the coverage they provide.
Do you remember how we said we’d help you find a good deal on coverage? Well, here’s how you do it.
Because the cost and coverage of each provider’s Photographer Insurance varies, it’s important to look at the insurance policies each plan provides and the price you pay per policy. It’s also crucial to pay attention to just how much coverage each individual policy a plan provides in order to get the best bang for your buck.
As an example, let’s take a look at Full Frame’s Photographer and Photography Equipment Insurance plan.
For as low as $129 a year, Full Frame offers general liability insurance with up to $2 million dollars in coverage should your business face a third-party bodily injury or property damage claim. It also offers several Photography Equipment Insurance options, starting at just $55 a year for up to $5K in coverage should something happen to your gear.
For both of these policies, you may choose to increase your coverage for an additional cost as seen in the chart below:
- $1,000 per item/ $5,000 aggregate — $55
- $2,000 per item/ $20,000 aggregate — $130
- $5,000 per item/$30,000 aggregate — $142
- $10,000 per item/ $60,000 aggregate — $275
- $15,000 per item/ $75,000 aggregate — $349
At Full Frame, we try to keep our prices low and our coverage high so our clients can still have good coverage without breaking the bank, but no matter where you get your Photographer Insurance, you should always check to make sure you are getting the best bang for your buck.
Protect Your Gear Today With Full Frame Insurance
When it comes to getting your photography gear insured, there is nothing more important than getting good coverage that works for you. At Full Frame, we know how important your gear is to you. That’s why we provide multiple coverage options—so you never have to pay more than you need to get the best coverage for your needs.
If you’re looking for great Photography Equipment Insurance that doesn’t break the bank, we invite you to check out our program. With Full Frame, you can take a look at all our coverage options online and get an online quote in less than ten minutes.
Full Frame’s Photographer Insurance is a great way to cover your gear and your business with loads of policy options, so you can have the exact coverage your business needs when you need it the most.