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6 Things that Are More Expensive than Photography Business Insurance

A lot of photographers forgo insurance because they think it's too expensive or they don't need it. What they don't realize is that insurance can protect their business and their equipment for a pretty reasonable yearly cost. In fact, many photographers can get a Business Owner's Policy for around $500.

As a photographer, your equipment value alone can stretch into the tens of thousands of dollars. Replacing all of it on your own when it's damaged or stolen may be next to impossible. And unfortunately, photographers face lawsuits just like any other small business in America these days, which means liability insurance is a necessity.

But if you still need some convincing to invest in your photography business's future, let's put the cost of coverage into perspective. Without further ado, here are six things you might already spend money on that cost more than insurance.

1. Coffee

1. Coffee

Assuming you drink a $2 coffee every day before work (and let's be real, some of us have $4 or $5 preferences), you're spending more than $500 on caffeine a year. A lot of people like to count it as a business expense in itself — without that fix, their mornings would be shot. That's understandable. But it makes you think: shouldn't you value protecting your entire livelihood just as much as you value your morning cup of joe?

2. Food You Throw Out

2. Food You Throw Out

According to Business Insider New browser window icon., Americans throw out an estimated $165 billion worth of food each year, which comes out to $529 per person. Next time you clean out your fridge, remember that even the moldy fruit costs more than your coverage would. (Bonus: your photographer insurance doesn't rot!)

3. Camera Lenses

3. Camera Lenses

You probably already knew this, but camera lenses can get a little expensive. Thinking about getting a new fisheye to take some cool shots? Canon's EF 8-15mm New browser window icon. will set you back $1,349. In fact, nearly all of Canon's wide angles New browser window icon. are over $500. Want to get extreme? Nikon's latest 800mm telephoto lens New browser window icon. costs a whopping $17,899. That's enough to pay for 35 years of insurance!

4. An Apple iPhone 6

4. An Apple iPhone 6

Without a contract, you're looking at paying over $600 to pick up Apple's latest smartphone. And do you really need the upgrade anyway? Sure, the fingerprint scanner is cool, and it's got a nice display. But hasn't your iPhone 5 been good to you? And will an iPhone 6 be able to fund your legal expenses if you're sued over a professional mistake? Alas, it won't.

5. Cable

5. Cable

Keeping up with your favorite show or spending every Sunday at home with the NFL Ticket may cost you more than insurance would. Even a basic cable and Internet package starts at around $45 per month, and that's on the inexpensive side. Photographer insurance starts out at about $42 per month and doesn't keep you glued to your couch!

6. The International Space Station

6. The International Space Station

Coming in at $150 billion, the ISS is arguably the most expensive single item ever constructed. Just to keep things in focus, $150 billion would pay for 300 million years of insurance. If you started your policy 300 million years ago, you'd have been around when conifer trees began to evolve and Pangaea started to break up, and you'd just be running out of money now (not taking into account inflation, of course). You aren't paying that much in taxes for the space station, as it's funded by many nations, but now you have an idea about how little $500 a year really is in the scheme of things.

What Are You Waiting For? Get Covered Today!

Protecting your business can be as easy as waiting a little longer for a new smartphone or not drinking as much coffee. And the insurance you get will help you keep making money as a photographer for years to come. Fill out an online application today to get competitive quotes from top-rated carriers.

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