For many Kiwis, working as a photographer is a dream come true. Many photographers are sole traders or may even own their own businesses, meaning that they have the freedom to plan their day however they choose. Photographers have so much choice and there is a niche for every interest and talent. You could specialise in fashion, sports, advertising, medical or even food photography. Like most photographers, you’ve probably put long hours and a large financial investment into your business. That’s why it makes sense to protect your photography business with the appropriate insurance. This can be especially true if you are a sole trader – should the worst happen, the financial responsibility will fall on you, potentially bankrupting you and your business, forcing you to shutter your doors forever.
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Did you Know?
Portable Electronic Equipment covers you for loss of or damage to laptops and mobile phones anywhere in the world.
Why do Photographers need to consider it?
Whether you are working in a studio or shooting on location, there’s inherent risk to you and your photography business when you’re personally interacting with clients, contractors or members of the public. An act of negligence could cause injury or property damage and could cost you dearly.
Another large cost that could potentially crop up and bring your business to a grinding halt is damage to your expensive gear. Safeguarding your business and expensive photographic equipment with the appropriate business insurance package provides peace of mind and protection, allowing you to do what you do best – snap gorgeous photographs.
Advantages of Business Insurance:
Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance package can also cover your portable equipment, glass and for loss of revenue due to business interruption in specified circumstances.
Every Kiwi photography business has different needs and that’s why a Business Insurance package is so great. It lets you pick and choose the right insurance coverage for your business. Taking out a business insurance package is a great way to get customised cover for your business, offering you protection where you need it, and saving you money in areas where you might not.
Keep reading to learn about some of the more popular insurance products for photographers.
Insurance for Photographers
Options include:
Public Liability insurance*
Accidents can and do happen, no matter how may precautions you take to prevent against them. What would you do if a member of the public were to trip over your extension cable and break their wrist, requiring weeks off work and pricey rehabilitation? Or you were to accidently spill your morning cappuccino all over a client’s laptop?
Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public brings a claim against you due to their being injured or sustaining property damage as a result of your negligent business activities. Note that in the case of injury, only aspects of the claim not picked up by the ACC will be covered.
Public Liability insurance may also pick up legal costs that you may incur while defending yourself from a covered claim.
Portable Equipment cover*
Better equipment can help you take better photos, and nail that perfect shot. From high-powered laptops, specialised lenses, portable screens, backdrops, reflectors and the camera itself, photography equipment is not cheap. If you work at different locations, taking your equipment with you to every shoot means there is a potential for loss or damage to occur. Loss or damage to even one of your essential items of equipment could prevent you from working until it is replaced.
Portable Equipment insurance (also known as General Property insurance) covers you for loss and damage to items of portable equipment associated with your business. These can include tools of trade and items of stock.
Things to consider
- Does your business rely on portable property (such as tools)?
- Would having to replace or repair of the equipment put your business under financial stress?
- Is your portable equipment stored in the open air or is it secured? Your policy wording is likely to explain how your portable property is required to be securely stored for it to be covered by your insurance.
- Your policy wording is likely to explain how your portable property is required to be securely stored for it to be covered by your insurance.
* As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.
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