We have heard some horror stories from photographers, who shall remain nameless, about not having business insurance. We see the question asked all the time – “do I really need business insurance for my photography business?”. The answer is a resounding YES. And here’s why:
- If you have a professional camera… well DUH. Our photography gear is expensive – and at times extremely expensive. If your camera or lens is damaged, or stolen, you are going to be thanking your lucky stars for your business insurance. Coverage of equipment isn’t typically too pricey – and it’s much less than a new camera body or lens.
- If you have a studio, you need coverage for any damages to your furnishings and/or the building itself. Make sure you have business insurance that covers your studio/place of business. It’s a must if you rent or own a studio space.
- General Liability Insurance – if you use lighting equipment for example, and it falls on your client and requires stitches, general liability insurance could cover the expenses associated with any medical costs and/or legal expenses. Or if you break something at the church when your tripod and camera fall on top of it – you liability insurance can help cover it.
The bottom line is, no matter what type of photography you specialize in, business insurance is necessary. So don’t drag your feet any longer, or you might regret it later.