As a business owner you want to do what is best for your business. From researching the latest trends to creating strong connections with your clients, you are trying to make smart decisions for your business. But what about insurance? Is your business insured?
In addition to making sure your business is functioning smoothly, it’s important to make sure your business is protected. So that raises the question, how much does photography insurance cost? To shine a little light on the subject, we have put together a guide that breaks down the costs and benefits.
What is Photography Insurance?
Before we can begin, it is important to know what photography insurance is.
It can protect business owners from claims that may arise from running a business or interacting with customers. With a specialization in small business, Full Frame offers individualized insurance for your needs. This includes general liability, camera and equipment coverage, damage to rented premises, Professional liability, and Cyber Liability.
Who We Insure
Full Frame insures Commercial, Freelance, Special Event, Portrait, Real Estate, Travel, and Wedding photographers. Follow the link below to see all types of photographers we cover.
How Much Does Photography Insurance Cost?
Now that we learned what it is, let’s move on to how much it costs.
Our photography insurance is broken down into three categories: Event, Annual Plus, and Annual.
Event
$59 / 3 days
Coverage limits:
- Up to $2M coverage,
- $1M in personal and advertising injury,
- Each occurrence limit of $1M
- Damage to premises rented by you – $300K
- Medical Expense Limit – $5K
Annual Plus – called annual plus because it has general liability insurance plus camera equipment coverage
$184 / Year
Coverage limits:
- General Aggregate limit – $2M
- Products – Included
- Personal & Advertising injury limit – $1M
- Each occurrence limit – $1M
- Damage to premises rented by you – $300K
- Medical Expense limit – $5K
Annual
$129 / Year
- General Aggregate Limit – $2,000,000
- Products – Completed Operations Aggregate Limit – Included
- Personal and Advertising Injury Limit – $1,000,000
- Each Occurrence Limit – $1,000,000
- Damage to Premises Rented to You Limit (Any One Premises) – $300,000
- Medical Expense Limit (Any One Person) – $5,000
Pricing
- $0 – $100,000 in Annual Sales – $129
- $101,000 – $200,000 in Annual Sales – $209
Camera Equipment Coverage
*Not available with event coverage
Coverage limits:
- $1,000 per item/$5,000 aggregate – $55
- $2,000 per item/$20,000 aggregate – $130
- $5,000 per item/$30,000 aggregate – $142
- $10,000 per item/$60,000 aggregate – $275
- $15,000 per item/$75,000 aggregate – $349
Included in both annual and annual plus policies is rented spaces coverage. Do you rent out studio space? What about event booths? If so, this coverage is for you. Protect your business from cost of claims that arise from damages done to rented spaces.
Additional Coverage Options
In addition to these insurance plans, business owners can add additional coverages based on their individual business needs. Additional coverage includes damage to rented premises and Cyber Liability.
Camera and Equipment Coverage
Your camera is an incredibly important part of your business and you’ve spent a lot of money on your equipment, so why leave it up to luck to keep your camera and equipment safe? From simply dropping your camera, to your equipment getting stolen, why take that risk? Camera and Equipment coverage is a great idea to keep your business safe.
General liability coverage can protect your business from the cost of third-party bodily injury and property damage claims. It also protects against the cost of copyright infringement claims. In addition, it protects against the cost of personal and advertising injury claims.
This type of coverage can protect you from the cost of having to replace damaged or stolen. It also protects against claims that occur on a job or at home.
Cyber Liability
If you store information online, on a tablet, or on a mobile device, that information is susceptible to malware and hackers. Protect your business from the cost of first and third party claims that arise from a breach in cyber security.
Cover Your Business Today
You know how the saying goes, “Knowledge is power”. Now that you know the cost of photography insurance, you can feel confident in deciding what would work best for your business. Don’t wait any longer to cover your business and get the coverage you need today.
