Perhaps a bit of a dull post today... but a very important topic too!
Do you have Public Liability Insurance?
I’d love to be able to say I’m not an expert in this area but my other life; 14 years as a Corporate Insurance Broker, would suggest otherwise. As a photographer it was one of the first things I arranged once I had decided to start taking on fee paying customers.
What is Public Liability Insurance?
Public Liability insurance is a type of insurance which covers your Legal Liability to third parties* for accidental loss of or damage to property or for death, injury, illness of disease arising out of your business, including liability arising from goods/services sold or supplied. (* Remember - 1st & 2nd party are you and the insurance company, 3rd party is anyone else!)
• It usually covers you while you're on location or while in your own property/studio - basically it cover you while operating your business.
• You’d expect a “Limit of Indemnity” of around £1,000,000 – (limit of indemnity is simply the limit to the amount of cover being offered). This might seem like a lot but as you’ll see from the examples of claims, it’s not that much. If you’re working for councils and some larger companies you may be required to have a higher limit.
Important information
If you work in airports, in the air, underwater or on the ground by the side of rails or track side at motor events then let your insurance company know, as these locations are seen as more risky and will require higher limits of indemnity and premiums..
Why do I need it?
Imagine you go to a photo session at a customer’s house; you’re setting up your studio and manage to drop your backdrop straight into the customers TV, the TV breaks and you’re left with a bill for a few hundred pounds? This is fine if you don’t mind dipping into your savings...
Or perhaps you own a studio; you have a family session booked, and one of the children trips over some of your wires and bangs their head. It’s a horrible thought but image if the child is permanently injured, and needs ongoing treatment? The hospital bills will rack up, solicitors will take into account future possible costs, carers/parents earnings, to be honest the physical injury is the least of your worries, it’s the solicitors fees to defend the claims that will cost the most!
I could go on for hours telling you about all the horrible ways you could end up having to compensate people, but let’s just say that these examples are extremes, but for all the small claims, where someone perhaps damages a TV, there are those where an injury is caused. And everyone knows how to make a claim these days!
Is it a legal requirement?
No, not like Motor Insurance is, but if you damage or cause injury to a third party, you are legally liable to pay compensation to them if it’s your fault.
How much will it cost?
This is a tricky one, it depends on your experience, the type of photography you do and also how much money you’re making. So assume anywhere upwards of around £50 for a basic policy.
Does it cover me at Exhibitions?
Usually yes there will be cover for exhibitions but check your policy. If it isn’t included then ask your insurers to cover it, it will usually be cheaper to do this on an annual basis than pay for the cover offered by exhibitions as and when needed.
What it doesn’t cover
If you mess up the photos at a wedding or your equipment fails you wont have cover...its only where you cause damage or injury.
And finally...
There are also many other types of insurance which you should also think about; including property, profit, personal accident, travel & Professional Indemnity but in my opinion Public Liability is one of the most important and if I haven’t bored you too much I’ll cover those topics at a later date.
If you’re looking to get some cover you can’t go wrong with a Broker (who will approach a number of insurance companies for you), and as luck would have it Oval Insurance Brokers have a few policies they can arrange specifically for Photographers, and they will also advise you what other covers you should be getting.
If you want to get a quote contact Lesley Williams on 01924 433130 lesley.williams@theovalgroup.com but please remember to quote Photographers Boutique.
If you have any questions or comments I’d love to hear from you.
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