Our industry was undoubtedly badly hit by covid, but things thankfully *touch wood* are gradually picking up again at last.
According to Format’s State of the Photography Industry Report 2022, 63.8% of photographers thought business was slower than expected in 2021, but 56.5% of photographers think business will get busier in 2022 – happy days.
Of those who were negatively affected during covid, many adapted their business, by:
- Using physical distancing measures
- Securing revenue online from print sales and downloads, either to clients or online shops and marketplaces
- Delivering photography courses and training
- Taking on new types of clients and/or shoots
We understand that your photography business may be very different from pre-pandemic life, and as such, it’s worth making sure any new activities and changes in circumstance are adequately covered. You may not be used to working in a studio, or with children or animals for example.
It’s also worth remembering that many photographers understandably put certain covers on hold while business was quiet, but if your shoots have resumed it’s worth revisiting this, and reinstating any relevant covers to protect you.
Lastly, given the supply issues, shortages and inflation we’ve all seen a marked increase in the cost of equipment. We advise you to revalue your kit and create a new schedule of equipment in order to avoid the risk of being under insured, should you need to make a claim.
Here’s your reminder of the basic covers to have in place:
Equipment insurance covers all your kit. If you restricted cover to premises-only during the pandemic, you should reinstate that cover when you are out shooting again.
Public liability insurance is required by studios and locations. It covers any clients or members of the public who claim they’re injured or whose property is damaged because of your business activities.
Employers liability insurance is a legal requirement for any assistants, models and volunteers you employ.
Professional indemnity covers the cost of legal fees when it’s alleged that a client has suffered a financial loss as a result of a contractor’s error, omission or negligence. Essentially it protects you when things go wrong. Not only for shooting, but also for teaching too. Claims can be made years after work has been completed, so it’s a cover you certainly need to maintain.
We hope this is useful information. Williamson Carson are experts in insurance and passionate about supporting the creative industries. Contact us now if you’d like discuss securing insurance for your business.