In a word, YES. You need photography business insurance.
Last month when I was doing my taxes, TurboTax went through its audit check and I got a notice saying that having insurance is a possible flag for audit because most photography businesses don’t have insurance.
I was floored.
I guess it’s not a huge surprise, since I see a lot of photography businesses being run from the fly-by-the-seat-of-my-pants school of business. But here’s why you need it, even if you’re just a small, one-person business.
equipment insurance
Can you afford to replace all your equipment if it gets stolen? The mistake most people make is that they assume if something gets stolen it will be covered by your homeowners/renters insurance or your auto insurance. In most cases, though, home insurance won’t cover business equipment, especially if the loss happens away from home or your car. More than once I’ve seen someone leave photography in their gear overnight (DON’T do that!!) and have a total loss when their car gets broken into.
A few scenarios where I’ve seen photographers need to replace equipment. All but one of these have happened to me in my 20 years of shooting:
- A lens gets dropped or falls from an insecure attachment to the strap
- Gear gets stolen out of your bag during an event
- You accidentally set equipment down and forget where you put it, leaving it behind
- You leave equipment in the car and it gets broken into
If you’re guessing which one hasn’t happened to me, it’s the last one. I’ve had flashes and lenses fall and break. I’ve had things stolen out of my bag (twice!). I’ve accidentally left things behind, including a light stand, a flash, and a battery charger. I am very particular about not leaving equipment in my car unattended so that last one hasn’t happened to me personally, but I’ve seen way too many stories from others, including one case when a person was followed by someone after an event. The cardinal rule is this: do not leave equipment unattended in your car, especially overnight.
In cases of break-ins. To ensure you’re covered for gear you travel with for weddings & events, you may need a policy called Inland Marine. Your insurance company may require a list of your equipment and serial numbers to estimate the total value of the policy.
liability insurance
This covers you in case there is a loss or injury to a person caused by you or your staff, like if a piece of equipment falls over and hits someone or if your equipment overheats and starts a fire. It also covers you in case you’re unable to provide services you’ve contracted to complete.
Liability insurance is something most photographers put off because they figure this stuff is pretty unlikely. But you still should have it, especially because some venues require it and you may not know which ones they are until the last minute.
It’s not uncommon for venues to require proof of liability insurance. Most of the time when I get a request for proof of insurance, it’s within about 48 hours of an event. If I didn’t have liability insurance, they may not allow me on site, which would result in my clients not getting the service they contracted (and an even bigger potential liability!) And if you don’t have insurance already in place, you probably won’t be able to get it on short notice in time for an event. So get it in place before you think you need it.
Where to get photography business insurance
You might be able to save money through the company that provides your auto and/or homeowners insurance. I was able to bundle everything to get discounts (yay!) with State Farm.
This is an area where it pays to be a PPA (Professional Photographers of America) member. PPA offers insurance solutions for equipment, liability, and even data loss. Join through PPA.com/MyFriend and put in my name to get $35 off your first year of membership. Besides the insurance, you’ll get a ton of other benefits, like education, discounts, resources, and more.
