As a photographer, your attention to detail and creativity serve you well when it comes to delivering beautiful photographs to your clients. While you’re no doubt kept very busy in your day to day work, it’s important that you take the time to protect yourself financially with the right insurance.
It’s easy for photographers to assume that they don’t need to worry too much about insurance – after all, what could go wrong? Unfortunately, your work leaves you open to just as much risk as other occupations and insurance will provide ongoing peace of mind. Let’s take a look at what you need to know about photographers insurance.
What are my risk exposures?
Although photography can seem like a pretty safe profession from a risk perspective, there are times when the unexpected can happen. For example, the fact that you often deal with a range of different people on a daily basis leaves you open to liability claims. All it takes is for a client to trip over equipment or cords for you to be on the receiving of a claim. Damage to client property could also potentially occur when you’re visiting client homes. In many cases, there’s nothing you could have done to prevent a liability claim – accidents happen!
You’re also exposed to a number of additional risks around your professional obligations as a photographer. Some of the exposures you potentially face include:
Failure to keep photos secure which results in the loss or damage of memory cards;
Damage or theft of photos due to negligent practices;
Scheduling conflict which results in a last minute cancellation on the client;
Photos being released on the internet without consent;
Failure to take certain important shots at an event;
Not delivering photos by the appointed deadline.
For the many photographers who are self-employed, there are also additional risks associated with your income if you’re unable to work for a period of time. If this happened, would you be able to keep up with expenses? Every situation will be unique in relation to your specific risks but it’s essential that you consider your areas of risk so you can be protected by the right insurance.
What insurance cover do I need?
As a photographer, there are a number of forms of insurance cover you need to consider. The main ones include:
General property insurance
General property cover will offer financial protection if your transportable items are lost, damaged or stolen. As a photographer, you rely on your photography equipment and are often required to transport it between different locations. That’s a lot of expensive equipment that you’re carrying with you! With general property insurance, you can be confident that you’re covered if something happens to your equipment.
Public liability insurance
Public liability insurance means that you’ll be protected financially if you cause damage to property or injury to a person as a result of your actions at work. It also covers legal bills if you need to hire a lawyer during the claims process. For photographers, this cover is essential as accidents can happen all too easily on the job.
Professional Indemnity Insurance offers protection to contractors with claims against them for damages to a third party. The damages or loss may have occurred as a result of an act, omission, negligence, or breach of professional duty. As a photographer, you offer a professional service and are therefore exposed to a number of risks.
Personal accident and illness insurance
Personal accident and illness insurance means that you’ll continue to be paid a portion of your income if you’re unable to work due to a sudden injury of illness. As a self-employed photographer, this means that you’ll continue to receive an income while you recover so you can keep up with daily living expenses.
Tax audit insurance
This form of cover is often overlooked but actually comes in very handy. As a self-employed photographer, you’re liable to be audited just like any other business and this can prove to be a very time consuming process. With tax audit insurance, you’ll be reimbursed for the cost of hiring a professional to complete the audit on your behalf.
Life insurance needs to be a consideration for every professional as it provides financial relief for your loved ones in the form of a lump sum payment in the event of your death. Your nominated beneficiaries can use this life insurance and save the money as they see fit.
How much will my insurance cost?
The cost of your insurance will depend on your specific situation – the higher your risk exposures then the higher your premiums. Insurance premiums depend on factors such as the type of photography work you do, how many people are on your team, the cost of your equipment, your claims history, your business revenue and the location of your work. For example, if you own your own studio and have a number of employees then you can expect to pay more for your insurance compared to someone who works for themselves from a small home studio.
Is insurance compulsory for photographer?
There is no legal requirement for photographers to have insurance in place. However, many clients will want proof of at least public liability and professional indemnity insurance before you proceed with a job. Remember, insurance doesn’t just provide financial cover for you – it also offers peace of mind to the client that they’ll be covered if things go wrong. Insurance is designed to protect your assets and ensure that you won’t be financially crippled following an unexpected event.
Here at Contractor Cover, we can assist with insurance for photographers to ensure you’re protected financially. We’re a one stop shop for photographers across Australia and combined all of the most commonly used policies for contractors into one convenient package. With us, you don’t need to worry about messing around with multiple policies – with our easy approach to insurance, you’ll save both time and money.
For insurance for photographers Australia, contact Contractor Cover today on 1300 438 268 or fill in our easy online enquiry form.