Whether you’re just starting out or have been in the game for years, protecting yourself from your industry’s risks with a comprehensive photography insurance package is vital. But we know how confusing it can be. So, we’re here to help you through the process.
Below, you’ll find out more about photography insurance in Canada and how you can use our dedicated team at LiabilityCover to get it.
Business Insurance for Photographers
Photography insurance is a comprehensive business insurance package created to protect photographers from industry-specific risks, like negligence and third-party property damage.
No matter how long you’ve been in the game, mistakes and unforeseen circumstances can happen. Thankfully, we can help you secure the insurance you need from the country’s leading licensed insurers.
What Does Photography Insurance Cover?
While all photography insurance packages are different, the most comprehensive ones typically include the following coverages:
Commercial General Liability (CGL) Insurance Coverage
Consider CGL as the foundation of your photography insurance policy package. It is vital for any business that welcomes customers and partners into their office or studio.
Sometimes called slip-and-fall insurance, it covers you from costly allegations of third-party bodily injuries and property damage resulting from unexpected accidents or negligence.
The amount of coverage you need depends on a variety of factors, including:
- The number of employees
- Your customers and target market
- Your photography studio’s location
- Your employees’ experience and qualifications
- Your ownership structure (i.e., sole trader, partnership, etc.)
As you can probably imagine, the more risk you have, the more commercial general liability insurance you need. Not to mention that as your business changes, you need to rethink your coverage.
The insurer we connect you with has industry-specific experience, allowing you to rest easy knowing your business is protected from all eventualities.
Professional Liability Insurance Coverage
Professional liability insurance, otherwise called errors and omissions insurance, financially protects you should your client hold you liable for your photography service. After all, you often only have one chance to get the photos right (weddings, for example), so if your clients aren’t satisfied, they sue.
The policy is highly customizable. The broker we assign you will consider which clauses you need. However, most professional liability insurance policies cover:
- Negligent acts
- Errors and omissions
- Failure to deliver a service as promised
- Product failures
- Physical injuries related to your products
- Libel, slander, or defamation
Usually, it won’t include coverage for:
- Incorrect estimates of profits or economic returns
- Dishonest, criminal, or fraudulent acts
- Patent infringement
- Theft of trade secrets
- Property damage
- Claims made outside of the coverage period
- False advertising
- Violation of securities acts
- Price estimates, quotes, or cost guarantees
- Employment-related claims (legal liability and worker’s compensation)
Equipment Insurance Coverage
Your gear is expensive, and paying out of pocket to replace everything should the unthinkable happen probably isn’t a viable option. Therefore, you should invest in a high-quality equipment insurance policy. It covers the costs involved with replacing or repairing your photography equipment due to an insured peril (for example, fire, theft, or vandalism).
Commercial Property Insurance Coverage
Commercial property insurance coverage protects you from the physical loss of or damage to your business property and its contents. If you own a photography studio, this policy is essential to ensuring you don’t need to pay out of pocket if disasters like thefts, fires, and vandalism occur.
Specifically, the policy covers:
- Your physical products and raw materials
- Immovable tenant improvements
- Business interruption
- Employees’ possessions
- Fixtures and furnishings
However, most commercial property insurance policies exclude:
- Acts of terrorism
- Power failures
- Government operations (i.e., military acts and nuclear hazards)
- Property loss or damage due to decay, dust, corrosion, or general wear and tear
- Water damage due to seepage, sewer backups, or flooding
- Smog or pollution
- Machinery or equipment damage due to standard wear and tear
- Cash, securities, and precious metals
- Unexplained item disappearances
Typically, there are three types of deductibles to choose from, which work to keep your premiums down. They are as follows:
- Percentage deductibles — Usually, this type is used in disastrous events to cover a fraction of your premises’ value.
- Waiting periods — With this deductible, you must wait a predetermined timeframe before the coverage kicks in.
- Flat deductibles — It’s the most popular type found in commercial property insurance coverage. It’s a predefined amount you must pay to trigger your insurance coverage.
Drone Liability Insurance Coverage
Drone liability insurance coverage offers financial protection to replace or repair any company-owned drones. It also protects you and any operators you employ from allegations of third-party property damage and bodily injury. Depending on your policy, you might be covered for stolen drones too.
Commercial Auto Insurance Coverage
Commercial auto insurance, otherwise known as business vehicle insurance, covers all automobiles used for work purposes, such as vans, cars, and trucks. Any vehicle transporting people, equipment, goods, materials, or equipment should have its own policy.
It’s similar to personal car insurance. However, the differences lie in the threat types, risk levels, and policy limits. Plus, insurers can tailor commercial policies to cater to multiple employees and hundreds of business types.
If you regularly drive to clients’ venues and events to take pictures, this policy is a must-have. It’ll protect not only your vehicle but extra features and equipment attached to it.
Specifically, the policy covers:
- Accident benefits — It covers your rehabilitation and medical bills if you’re injured in an accident, regardless of fault.
- DCPD — Direct compensation property damage covers the loss or damage of your vehicle and its attached contents if you’re not at fault for an accident. It allows you to deal with your insurer directly, instead of the other party’s provider.
- Uninsured auto — If the other party involved in an accident isn’t insured or you’re the victim of a hit and run, the policy pays for your vehicle’s damage.
- Third-party liability — If you’re at fault for an accident that killed or injured somebody or their property, this part of the policy financially covers the associated costs.
Cyber Liability Insurance Coverage
As a photographer, you know more than most that we live in a highly digital world. You likely share files and communicate with your clients electronically, making a cyber liability insurance policy essential to your business’s long-term survival.
The coverage protects your customers’ personal data, the photos you take, and their financial information. If your computer systems or networks are hacked, your cyber liability policy covers the costs of:
- notifying your customers,
- repairing your computer systems,
- any losses you experience due to system outages,
- legal advice,
- and providing your customers with credit monitoring.
Do You Need Insurance As a Photographer in Canada?
All photographers should think about acquiring the right insurance coverage to protect themselves from business-related lawsuits.
As every professional is unique, your coverage requirements vary wildly. But luckily, we’re well-versed in connecting you to insurers with experience covering all kinds of photographers and videographers.
We’ve helped thousands of professionals find the coverage they need, including:
- Freelance photographers and videographers
- Commercial photographers
- Drone photographers
- Wedding and event photographers
How Much Does Photography Insurance Coverage Cost?
You should anticipate spending around $650 per year for a policy package containing commercial general liability insurance and professional liability insurance with a combined limit of $1.5 million.
With that said, the exact cost of your premium depends on a multitude of factors, including the below:
- Your training and experience — The more experience you have in your industry, the less likely you’ll make mistakes. Therefore, insurers award you with lower premiums as the chances of experiencing a lawsuit are reduced.
- Your services — Different services carry different risks. For example, photographing clients in your studio is less risky than using a drone on a location shoot. Thus, your premiums increase or decrease depending on your risk exposures.
- The number of employees — The more people you employ, the more you’re exposed to risks. Therefore, you should expect to pay more expensive insurance premiums as you grow your business.
- Your annual and projected revenue — If your business makes a lot of money or is expected to make a high profit, you’ll pay more for insurance. Third parties are likely to request more in damages from highly profitable companies as they know your revenue can withstand the hit.
- The cost of your equipment — You need to consider how much your equipment is worth before acquiring insurance as it drastically affects the price. Consider whether you’d prefer your policy to cover the actual cash value or the stated value of your kit. The differences are as follows:
- Actual cash value — It’s the depreciated value of your equipment. With this option, it might be hard to but replacements.
- Stated value — It’s the amount you initially paid to purchase your equipment. Going this route will come with more expensive premiums; however, it’s more likely to actually cover the costs of replacing your items.
Why Choose LiabilityCover?
Acquiring business insurance on your own is difficult. There are so many options at a variety of price points and coverage limits.
So, to make your life easier, choose LiabilityCover.
After completing our simple secure online request form, we connect you seamlessly with Canada’s best insurance providers. We analyze your requirements to ensure we connect you with those experienced in offering comprehensive photography insurance.
By letting us do the hard work, you’ll never have to struggle through convoluted, confusing insurance processes ever again!
Frequently Asked Questions
What Are Common Photography Insurance Claims Scenarios?
To help illustrate the usefulness of photography insurance, have a look at some of the real-world claims scenarios below:
Example One: Error Claim
A couple hired you to shoot a wedding. The event goes off without a hitch, and you send the pictures to your developer. Unfortunately, your developer mishandles the files and damages the entire album.
As expected, the newlyweds sue you. Thankfully, your professional liability insurance covers you for the lawsuit arising from failure to deliver your service, totalling $20,000.
Example Two: Slip and Fall Claim
A client comes into your photography studio to acquire updated professional headshots. Unfortunately, while they walk into the lights, they trip on the stand and hurt their knee.
They sue you for the injury. Fortunately, your commercial general liability insurance covers your client’s medical bills equalling $35,000.
Example Three: Equipment Damage Claim
You’re driving to your client’s office with your photography equipment in the car. Sadly, you get into an accident before reaching the office, damaging your camera gear.
Thankfully, your equipment insurance coverage pays to replace your damaged kit, totalling $10,000.
Example Four: Delivery Loss Claim
You use a courier service to deliver the final photographers from your client’s major shoot. However, the courier loses the pictures and delivers incorrect shots.
Your client sues you, but thankfully your comprehensive business insurance coverage pays for the costs of reprinting the photographs.
How Important Is Professional Liability Insurance For Photographers?
It’s incredibly important! Consider professional liability as your malpractice insurance.
If your memory card fails, your camera breaks or the shots don’t turn out very well during a once-in-a-lifetime event, your client can sue you. In this situation, you need professional liability coverage to protect yourself from the allegations.
How Do You Get Photography Insurance in Canada?
Acquiring photography insurance is easy with LiabilityCover; just follow these steps:
- Complete our simple inquiry form.
- We analyze your insurance requirements.
- Our team assigns you a broker or agent with years of experience providing insurance to other photographers and videographers in the country.
- Your designated broker or agent contacts you to guide you through the policy acquisition process.
Do You Need Photography Insurance If You’re Not a Professional Photographer?
As an amateur photographer, you should have insurance to protect yourself from third-party liability lawsuits and equipment. You can be held liable if people are injured while you’re taking pictures of them.
Does Photographer Insurance Include Videography Equipment Coverage?
Typically, you’ll need to customize your policy to insure your film equipment like boom microphones and video cameras. The broker we assign has experience providing tailored policies to photographers and videographers, so they’ll guide you in this department.