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3 Reasons Why Photography Business Insurance Is Important

According to Quartz.com, experts predict that nearly 40% of America’s workforce will be independent freelance workers by 2020. This is no surprise to photographers who have long been primarily independent freelance workers. Nearly 46.6% of all photographers are self-employed.

Freelance photographers enjoy a high level of flexibility, but along with the perks of having a creatively fulfilling job comes cold, hard economic reality. Self-employed photographers struggle with surviving in this economy and accessing affordable photography business insurance.

This is where Full Frame Insurance comes into play. Full Frame is designed specifically for the self-employed photographer who needs robust coverage to protect their financial assets. Surprised? If you’re like a lot of freelance photographers, you might be thinking, “I’m small potatoes, why do I need insurance? Who’s going to come after me?”

Regardless of income level, all freelance photographers should carry general liability insurance. Without it, the financial implications could be disastrous. Here are three major reasons why Full Frame Insurance is important for any photographer to have.

1. Lawsuits

The most common reason we see photographers decide against buying photography insurance is that they don’t think a lawsuit could happen to them. Freelance photographers might agree to photograph the wedding of a friend or family member, for example. And there’s no way their BFF would ever sue them, right?

Wrong. Unfortunately, lawsuits between friends and family members happen all the time. If you do get sued, the cost just to defend yourself in court is enough to put you out of business, even if you aren’t found liable. Photographers who agree to cover any event, regardless of their connection to the party hiring them, should get coverage. For photographers covering a single event, Full Frame Insurance offers event insurance.

Liability insurance will typically cover most expenses in a liability case (up to your limits, at least), including your court costs.

2. Medical Costs

People are awkward, clumsy creatures. Accidents happen. Unfortunately, hospital bills also happen. You could be on the hook for medical expenses if that accident is your fault. Somebody could trip over your camera bag or equipment, hurt themselves during your shoot, or cut themselves on your light.

You may take every precaution in the book, but crazy things are known to occur. Having insurance is a smart move in a klutzy world.

3. Equipment Loss or Damage

Your equipment is essential to your business, and it’s very expensive. If something were to happen to your valuable cameras, lenses, or other gear, you should ask yourself if you could afford to replace it. If not, you need equipment insurance. Insurance coverage for your equipment is inexpensive compared to the sticker shock you’ll receive when it comes time to buy all new gear.

Without your equipment, you wouldn’t be able to continue making money through your photography business. No equipment = no business = no money. Once you do the math, the choice is obvious. Always have equipment insurance.

Full Frame Photography Business Insurance

Photography business insurance may have been the last thing on your radar when you started your freelance photography business, but it’s the most crucial. Without it, you run enormous risk as you face a myriad of exposures on the job. Full Frame can help you find a policy that fits your photography business.

Purchase Full Frame

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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.