Photography Insurance

Coverage For The Creative

What is Photography Insurance?

While photography is fun, it is by no means a risk-free endeavor. The risks associated with professional photography can come in the form of your camera and other equipment getting damaged to theft. Thanks to photography insurance as it covers future uncertainties.  

As of 2020, there are 232,936 photography employees in the US according to IBIS World. Photography insurance helps protect you and your business from third-party claims such as property damage or bodily injury and lawsuits filed against photographers for different reasons. Wedding photographers especially face lawsuits on grounds of not taking quality picture or failing to capture the perfect moment.  

If you or your business uses an image or video without proper permission, you could face expensive lawsuits for copyright infringement. The owners of the images/videos are entitled to statutory damages which can easily calculate up to tens or hundreds of thousands of dollars. 

Since copyright infringement is a serious and expensive lawsuit, many business insurance carriers provide coverage for such situations. While photography insurance may not directly assist in claims of copyright infringement, policies such as commercial general liability and errors & omissions do provide coverage. These policies can cover ‘advertisement injury’ claims, which can include copyright infringement if you use images/videos in your advertisements. 

In this article

Who Needs Photography Insurance? 

Photography insurance covers individuals and businesses that generate income from photography and videography services. Some examples are: 

  • Professional photographers
  • Professional videographers
  • Photo studios
  • Photo journalists

What Policies Fall Under It?

Business Owners Policy (BOP)

Business owners policy is a suitable insurance policy for small to medium scaled businesses. It is a bundle insurance policy that includes commercial property and business income insurance. If you own a photo studio, you will need a BOP since it covers your business’s claims and damages.  

Commercial Property Insurance

Commercial property insurance covers the losses that arise from property damages. This policy covers dangers such as fire, theft, and vandalism. Generally, the policy also comes with BOP. If you done have BOP, you will need commercial property insurance for your photography business. 

Business Interruption Insurance (BII)

Business interruption insurance policy safeguards you from loss of income due to temporary closure of a business. For example, if your studio caught fire, you would have to shut down until the studio is able to resume work. A BII policy will cover the loss of income faced due to the fire damage. 

how much is photography insurance

Commercial Auto Insurance

Commercial auto insurance is a must-have if you own and use vehicles for business purposes such as transporting equipment, and travelling to outdoor work locations. The policy provides coverages against losses caused by vehicle-related accident damages, injuries, theft, and vandalism. 

Professional Liability Insurance  

professional liability insurance policy protects professionals from losses that arise due to negligence or inaccurate advice. It is specifically necessary for photojournalists or photography institutes to protect them against malpractice. 

Errors and Omissions Insurance (E&O)

Errors and omission insurance is generally added to professional liability coverage. E&O protects you from losses that stem from mistakes in official documents. Photographers who frequently work on a contract basis will need this policy. E&O insurance can protect them from potential lawsuits due to errors and omissions. Furthermore, if clients find your service inadequate, or not up to their standards, they are well within their right to sue you. In such cases, E&O insurance will protect you and your business. 

If you’d like a personalized photography insurance quote for your business, get in touch with us!

Cyber Liability Insurance

Cyber liability insurance protects you and your business from losses due to digital threats arising from cyber-attacks and information hacks. This insurance is a part of photography insurance that protects your digital assets such as image files, video footage, and related documents in case of a data breach or loss. Moreover, majority of photography and videography businesses store their work data on their computers, cloud storages, and servers. Thus, in order to protect this important data, having a cyber liability insurance is necessary. 

Inland Marine Insurance

Professional photography and videography setup require expensive equipment such as camera, lights, stands, harnesses, and more. Inland marine insurance covers these assets while they are being transported from one location to another.  

For example, if your camera equipment gets damaged in a car accident, this policy will pay to repair or replace it. In most cases, a specialized version of inland marine insurance, known as camera equipment insurance, is used for the photography industry.

how much does photography insurance cost

Standard Exclusions You Need to Consider

Photography insurance has a few common exclusions to take note of. Hence, it is important to consider and add them to your policy as needed. The exclusions are as follows: 

  • Hazardous location exclusions: If you provide your services in dangerous locations and scenarios, such as wilderness and war-torn states, your standard insurance might not provide enough coverage. Therefore, you need to have more coverage for such scenarios. 
  • Third-party property exclusions: Third-party equipment that you have rented or taken in for repairs is not covered by photography insurance. In these cases, you will need to get the appropriate third-party coverages. 
  • Wear-and tear exclusions: Your photography insurance policy will cover the damages to your equipment. However, it might not provide coverage for standard wear-and-tear of equipment due to prolonged use. Such damages are covered by personal expenses or via product warranty.

How Much Does It Cost?

There is no standard rate for photography insurance. Every policy is dependent upon specific factors, cases, and businesses. Some of the factors are as follows: 

  • The equipment you operate 
  • The number of business employees 
  • The business model 

Interested? Get a personalized quote for your photography insurance right HERE!

If you’d like a personalized photography insurance quote for your business, get in touch with us!

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