Chapter 2: Special Insurance Considerations for Photography and Videography Professionals
Part 1: What Are the Most Important Insurance Policies for Photographers and Videographers?
Cyber Liability Insurance for Photographers and Videographers
As a freelance photographer or videographer, you may want to consider looking into Cyber Liability Insurance. This type of coverage was designed to protect your business assets in the event that your digital property is lost, stolen, or destroyed.
Most photographers these days use digital photography, which means there are more ways than ever to accidently lose a client's data. Think of how easily the following data storage tools could go missing:
- Computers and laptops.
- CDs and DVDs.
- USB drives.
- Memory cards.
- Hard drives.
A camera could be stolen from your home. A computer could crash. A tiny memory card could be misplaced. A fire could destroy your records. And while a Property Insurance policy may be able to help you replace your camera, computer, and other physical property, it can't help you out where your digital property is concerned.
That's because most standard Property Insurance policies excluded coverage for digital assets. That's where Cyber Liability Insurance comes in.
Since you likely can't recover digital files back after they're gone, Cyber Liability Insurance is designed to help control the damage and restore your business's credibility. It helps pay for things like…
- Legal fees. If you lose a client's data and they sue, this coverage will help you pay for legal defense costs, judgments, and settlements.
- Credit monitoring services. If your business computer is hacked and your client's personal information is stolen, this coverage will help you help them monitor their accounts for fraudulent activity.
- Public Relations. Data loss often damages a photographer's or videographer's reputation. This insurance helps you pay for advertising and marketing campaigns that help you restore your image.
To learn more about this coverage, read our blog posts on Cyber Liability Insurance.
Additionally, there are steps you can take to mitigate your Cyber Liability risk. We outline some of those tips in the "Keeping Insurance Rates Low: Risk Management for Freelance Photographers and Videographers" section below.
Next: Certificates of Liability Insurance for Freelance Photographers and Videographers