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Insurance Requirements in the Photography Industry

By: J.A.J Aaronson - Updated: 14 Oct 2012 | comments*Discuss
Business Insurance Photographer

When setting up in business, there are a number of potentially unforeseen costs that can crop up. These will obviously vary depending on the nature of the business involved and the work that will be undertaken.

However, if you are setting up a photography business you will almost certainly need some sort of business insurance.

Photographer Insurance

Business insurance comes in many different forms; again, the most suitable type for you will depend on your individual business model. However, when running a photography business there are a number of elements that should be considered from the outset.

In the first instance, basic photographer’s insurance is a must. You will need to at least insure your equipment; if this is lost, stolen or damaged, not only will you lose the value of the equipment itself, but your business will no longer be able to function. As such, equipment insurance is something that you must be prepared to pay for.

There are a number of companies offering specialist photographer insurance; reputable commercial insurers will either provide standard packages that will be suitable, or they will be able to tailor insurance to suit you.

You should remember that there will be limits on the value of equipment that they will insure; a standard sum is around £15,000. If you require insurance of a higher value you must be prepared to pay higher premiums. You should also note that some companies will not insure photographers that perform more dangerous disciplines such as underwater photography.

Public Liability Insurance

Aside from insuring your equipment, you may also require more specialised business insurance. If your business has any sort of public-facing element, you will require public liability insurance. This type of business insurance protects you from claims made by third parties. These parties might include customers, other members of the public, sub-contractors and so on.

A good policy will cover you against claims made by these parties for injury or damage to their property. There are a number of companies offering public liability insurance tailored specifically to photography businesses, many of which will cover you for claims made against you up to a value of £5 million.

Depending on the nature of your photography business, there may be a minimum sum for which you must be insured; this will depend on your individual circumstances.

Professional Indemnity Insurance

Photography businesses should also consider professional indemnity insurance. This type of policy will cover you against claims made against your business as a result of a professional dispute. Instances in which professional indemnity insurance might be useful include a portrait session, after which you accidentally erase the images from your storage.

Any compensation claim made against you, or the costs of additional studio time, should be covered by your professional indemnity business insurance. It is important to note, however, that this type of insurance normally comes with a number of significant exclusions; you will not, for example, be covered against loss or corruption of data unless this has occurred as a result of your negligence.

As has been mentioned, the types of insurance required by your photography business will depend on your individual business model. You may wish to seek advice from insurers, and you should certainly shop around to make sure that you are getting the best deal.

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