Do I Need Insurance for my Photography Business?
Well, the short answer is yes. Inevitably, you will need photography insurance, especially when working as a professional real estate photographer. I’ve had a number of different real estate firms and clients ask for my liability insurance before they would sign off on hiring me for a job.
When I first asked myself the question “Do I need insurance for my photography business?” the only thing I thought I might need it for was to cover the cost of my gear. As my business grew, I realized I was wrong about that.
If you already know why you need photography insurance and you’re trying to figure out which is the best for you, check out our article on the Best Business Insurance for Photographers.
Table of Contents
Do I need insurance for my photography business
4 Reasons to Have Photography Insurance
It Protects More Than Just Your Gear
Obviously, photography insurance protects your gear incase it gets lost or stolen. Although that’s probably the largest reason for a professional photographer to have a photography insurance policy, it’s not the only one.
It also protects you when you accidentally break that absurdly expensive vase on the mantel, or when you’re putting yourself in an awkward position to get the best shot, roll your ankle badly, and need to go see a doctor.
Photography Gear is Expensive
I know you don’t need to be told this, but photography gear is expensive. The average professional photographer has well over $10,000 worth of gear. In real estate photography gear costs can add up quick.
There’s always a better lens, better flash, better drone, and so on. Having a $4000 piece of gear break could ruin you financially if it happens at the wrong time. Don’t risk it. Take out a photography insurance policy for a few hundred dollars a year and sleep easy.
Large Clients Will Require Photography Business Insurance
Not all your clients will require you to have a photography insurance policy, but many of your largest clients will. Especially any large firms or property management companies.
For example, say a company is hiring you to photograph a full apartment complex that’s being built. You’re going to be on-site with a lot of other people and there’s likely to be construction taking place. The company would be doing themselves and you a disservice if they did not require you to have an insurance policy.
Likewise, if you’re going to photographing dozens or even hundreds of homes for a company all over your area, insurance will be necessary for both you and the holding company.
It's Simply Good Business Practice
Simply put, it’s just a good business practice. Having the mindset of “it will never happen to me” is risky at best and ignorant at worst.
If you want to make it in real estate photography as a profession, you’re going to need to run a proper business. That means getting photography insurance tailored to meet your businesses needs.
If you’re convinced and ready to insure your photography business, then start by getting a FREE Quote from Hiscox Insurance. They have a plan tailored perfectly for photographers.
If you want to learn more, check out this article: Best Business Insurance for Photographers in 2022
Frequently Asked Questions
Why do photographers need business insurance?
To protect the cost of their gear and to protect themselves against lawsuits while on jobs, amongst other things.
Do freelance photographers need insurance?
No, freelancer photographers don’t NEED insurance, however it’s a very good idea to protect yourself and your gear by taking out a general insurance plan.
Do photographers have liability insurance?
Yes, nearly all professional photographers have and need liability insurance coverage.