You have the equipment, the software and the clients to start your photography business. Now, all you need to do is to pull together the right business insurance so you can safely open your doors. A photographer, even one working as a solo provider, needs to have ample business insurance to protect against many of the risks that can occur. Even in a business like this, you need financial protection to keep your business operating the way it should.
Business insurance for photographers should protect assets and minimize risks. These are some key recommendations.
- Business Property Insurance: This type of insurance covers your assets including the camera and lenses you use, studio furnishings or other hard assets related to your business. If these items are damaged or stolen, they could put you out of business. With the right level of business property insurance, items can be replaced or repaired up to the policy limits.
- General Liability Insurance: Every small business needs liability insurance. What if your lighting equipment fell over and hurt a client? In situations like this, you need comprehensive liability coverage to pay for the medical bills or other losses your customers and clients suffer that you could be considered at fault for creating.
- Business Interruption Insurance: In situations where the business is significantly damaged, such as by a fire at a studio, you'll appreciate having this coverage. It can help you by replacing your business income when a major loss occurs that effects your revenue.
In addition to these coverages, your photography business may also need coverage for the physical property you own and operate in, professional liability coverage to pay for professional mistakes you make and cyber liability coverage to protect private customer data risks. In addition, if you have employees, you may need employee practice liability coverage and workers compensation.
The right balance of business insurance can help you keep your organization running efficiently no matter what you are facing. Take the time to focus on how business insurance can safeguard the business you've worked hard to create and build. It may be less expensive than you believe to have quality business insurance for these risks.
Learn about your coverage options today. Call Insurance Agent2000 at (925) 827-0510 for more information on Pleasant Hill business insurance.