Small Business Insurance
for Photographers, Videographers & Video Production Companies
Photo and video professionals know that it takes more than sheer creative talent to run a successful photography or videography business – it requires some serious business savvy and hard work, too. And that's where insurance comes in: the appropriate polices make sure a single catastrophe doesn't tear down all that you've worked to build. Whether it's broken equipment, employee injury, or a lawsuit from an upset client, business insurance can cover unexpected costs and spare you the financial struggle and worry.
Small Business Insurance for Photographers, Videographers, and Studio Owners
Your insurance needs depend on the specifics of your business, which is why it's always a good idea to work with an informed agent when finding an insurance plan. But to give you an idea about your options, let's take a look at how photographers and videographers can benefit from the following kinds of business insurance:
General Liability Insurance
This is an insurance policy that benefits nearly every type of business. Sometimes called "slip-and-fall insurance," this policy protects you when a third party (someone other than an employee or business partner) sues your business over bodily injuries that happen on your premises, property damage your business caused, or advertising injuries you allegedly committed. If your studio is open to the public or there's a chance you could damage someone's property while on location, this policy is crucial. Plus, many landlords require commercial tenants to have a GL policy in place when signing a lease.
Commercial Property Insurance protects your business-owned property from damage by theft, fire, and some weather events. It can cover a physical space like a studio or an office (whether you own or rent). It can also cover commercial equipment, furniture, supplies, and gear in that space.
Business Owner's Policy
Small businesses with low risk profiles may be eligible to purchase a BOP, which bundles General Liability and Property Insurance together at a reduced rate. It's a more convenient and less expensive way to get fundamental protection for your photography business. Ask your agent if you qualify for a BOP.
Professional Liability Insurance
Professional Liability Insurance addresses third-party lawsuits over the quality of your work. If a client alleges you made a professional oversight that caused them to lose money, they may sue to recoup those losses. When that happens, your Professional Liability Insurance can help pay for your legal expenses, such as attorney fees and settlements or judgments.
Inland Marine Insurance
Though the name can be confusing, Inland Marine Insurance is essential for covering property and photography equipment on the move. Originating as coverage for shipping cargo, Inland Marine Insurance is now used to cover equipment (like cameras) that moves from location to location for your work.
Workers' Compensation Insurance
If you have employees, chances are your state requires you to carry Workers' Compensation Insurance. This policy can pay for medical expenses and replacement wages when your workers are injured on the job.
Cyber Liability Insurance
In the age of data breaches, no business is safe. Cyber Liability Insurance can pay for recovery expenses when sensitive data is stolen from your business. For example, it can help cover the cost of notifying affected parties, offering credit-monitoring services, and repairing the security flaw.
This policy is an inexpensive way to supplement certain types of liability coverage. For example, if your General Liability policy has reached its limits but you still need more coverage, you can draw on your Umbrella policy to kick in the extra. Umbrella coverage is available in $1 million increments, which can substantially boost your protection.
Personal auto policies usually don't cover accidents that happen when you use your vehicle for work purposes – that's what Commercial Auto Insurance is for. You need this policy to cover any business-owned vehicle, too. Hired & Non-Owned Insurance offers liability protection for rented and borrowed vehicles that your business uses.
Finding Insurance for Your Photo-Video Business
To figure out how to protect your business from losses and lawsuits, get in touch with an insureon agent at 800-688-1984. You can also fill out an online application to get competitive insurance quotes sent right to your inbox.