Details are everything with insurance! We care about getting the right cover for you, so today we’ll explain what ‘All risks’ photography insurance actually means.
Simply put, an All risks policy provides broad cover – for any loss, damage or destruction, unless specifically excluded.
The alternative to All risks policy is the more traditional ‘specified perils’ policy, where your equipment is only covered for those perils listed – such as fire or theft etc. In those situations, your claim would need to fall in those specified perils to be covered by the policy.
What are the benefits of All risk policy?
You have the peace of mind should instances of accidental loss, or damage such as water damage occur, you would be covered. There is a very small number of exclusions such as vermin damage or wear and tear which are not included in All risks.
Very importantly with an All risk policy, your equipment is covered at home, in your studio but also anywhere in the world (unless otherwise stated in your policy). Theft and damage often occurs when you’re out and about, and so this detail can prove extremely important – and valuable for photographers.
How to check if yours is an All risks policy?
The magic words you’re looking for are ‘covering all loss or damage’ – that would suggest it’s an All risks policy.
Look for whether specific perils are listed, if they are, it’s not an All risk policy.
All risk policies should ideally cover worldwide, or at least anywhere in the UK.
Check whether your policy states ‘business premises only’ – if so, it’s not what we would call an All risks policy.
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We hope this is useful information. Williamson Carson are experts in insurance and passionate about supporting the creative industries. Contact us now to discuss how we can help protect your business from risk. Read more insights and interviews by Williamson Carson.
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