With all the excitement of preserving memories these days, photographers are in high demand. Whether it’s a wedding, child’s birthday or holiday party, running a business is, well…serious business. With all the money spent on things like lenses, new props and classes, there are a few areas small business owners may overlook. If you are not interested in playing the lottery with your livelihood, then safeguarding your business through insurance policies should be a priority.
So, WHY DO photographers need insurance you ask?
There are a number of scenarios that could result in a professional liability claim being made against a photographer. Not only will the proper insurance protect your clients in these instances, but the right policy could provide coverage for attorney fees and other legal expenses. Just to list a few:
- The photographer arriving at the wrong venue with no time to correct the error.
- Personal injury to clients or models in the photographer’s studio or on location.
- Losing or damaging memory cards or film after completing a job.
- Lost images or images released to the incorrect party.
Another common claim that photographers make is for reshoot expenses arising from unexpected events such as scheduling errors or lost or damaged film.
If there is any investment to make, it is in your financial and business security before buying that next new prop or lens.