4 Questions to Consider when Buying Photography Business Insurance

Posted by David Hamilton on Mar 14, 2016 5:14:08 PM

Regardless of whether you are renewing or purchasing photography  business insurance for the first time you should consider the following to ensure the best price and protection:

1. What are the limits for your gear and liability?

Limits that are too high costs you unnecessary premium dollars. Have you updated your inventory of gear and determined a current replacement cost value? If your replacement cost value is higher than the limit on your policy, you are underinsured and should purchase a higher limit of coverage.

The minimum general liability coverage you should purchase is $1,000,000. The general liability will protect you from lawsuits that result from property damage or bodily injury that you, or your employees cause while shooting. The liability policy will pay the legal costs for your lawyer and the judgement costs up to the liability limit that you purchased.

Will your current liability policy provide enough protection if you end up in court defending a lawsuit from  camera insurancewell-paid programmer’s husband after you permanently disabled her when your pelican lens case was knocked off your rooftop shooting location onto the sidewalk below? A programmer that is 40 years old making $200,000 a year could sue for 20 lost years of future earnings – or $4,000,000.  Additional limits of  liability coverage typically go down in cost for each million over 1million that you purchase. For instance, The Front Row Insurance online photographers program prices general liability for photographers as follows: $150 for 1mil, $200 for 2mil, $350 for 5mil.

2. Is the process to buy the coverage you need fast and simple to understand?

Is there an online option that asks for only necessary information in a clickable format? Are the drop down boxes that explain the coverage clear and comprehensive?  There should be no need to scan paper applications back and forth.

At Front Row we have created an 5 minute on line insurance solution.

Available to Canadian photographers Learn more

The policy term is for 12 months and coverage is provided in most countries worldwide except those subject to trade restrictions.

Rental equipment coverage is also available. All equipment is covered for replacement cost for:  theft, damage, fire and loss of use. The online link ensures industry-low prices:

  • $10,000 equipment coverage: $75 CAD,
  • $2,000,000 location liability coverage: $200 CAD; $5,000,000: $350 CAD. Liability covers property damage and bodily injury that you do  while shooting on location or in a rented studio. Pays legal fees too.
  • $350 deductible for gear

3. Does my gear policy include any enhancements such as office contents coverage or Portfolio coverage?

 

  Front Row Other Programs
No Minimum Premium Yes No
Worldwide Equipment Coverage Territory Yes Yes
Automatic $10,000 Office Contents Coverage + $5,000 in Laptop Coverage Yes Extra Charge
$15,000 of Money & Securities Yes No
$10,000 of coverage for newly acquired equipment for up to 30-days Yes Yes
Commercial General Liability is available on a stand-alone basis Yes No
Coverage for Earthquake & Flood included up to your full Equipment Values Yes No
$7,500 of Library Stock ("Portfolio") Coverage Yes No

 

4. What do I have to do to make a claim?

You have the coverage and now all your equipment has been stolen. Should you call the broker or the insurance company  when you first hear about a claim? Call the broker.

Claims Reporting Procedures

  • All claims should report the following: Date of Loss, Description of Loss, Names and phone numbers of persons to be contacted.
  • All incidences should be reported promptly. If you are not sure there is coverage, call your broker.

Is it possible to take immediate action to make repairs if further damage to the property is likely?

As long as the claim is covered, the reasonable cost of temporary repairs made to prevent further damage is money well-spent and, therefore, reimbursable, subject to all policy terms and conditions. Documentation in the form of bills, receipts and photographs should be retained in order to verify damages and repair costs.

About: Front Row Insurance Brokers Inc. is an independent  insurance broker that works on behalf of the Canadian arts and entertainment industry to provide insurance for the lowest possible cost. Should a claim occur, Front Row ensures that clients receive the money they are owed per the insurance policy, as quickly as possible. Front Row has offices in Vancouver, Toronto, Montreal, Nashville and Los Angeles.

 

Tags: Photography Equipment Insurance, photography insurance, Photographer Insurance Policy, Photography Equipment Insurance Policy

Photography Equipment Insurance: You May not be Covered by your Homeowners Policy if you have Sold Prints in the Past.

Posted by David Hamilton on Feb 11, 2016 5:24:50 PM

You arrive back at your car to find the truck pried open and your camera bag  missing. Your take out your phone and call your insurance broker to report the claim under the homeowners policy that you purchased. An adjuster is assigned. The claims adjuster does a  web search and sees  that you have advertised prints for sale. Because you occasionally sell prints, your gear is now considered “commercial” equipment and as such, not covered by your homeowner’s insurance policy which is intended to cover “personal” camera gear that is not used for commercial purposes. You tell the adjuster that you only sold a half dozen prints for less than $300 in the last 12 months to a stock agency. The adjuster shrugs, “It doesn’t matter, even if you sell just one print for $5, you are a professional and your gear is  considered commercial and is no longer covered under a homeowners policy”.

Photography InsuranceThis is a difficult, pricey lesson that is better learned before there is a loss. Our experience tells us that many professional photographers assume they are covered by their homeowners policy when in fact they are not.

If you sell your prints , check your policy and make sure your coverage is appropriate. At Front Row we have created an 5 minute on line insurance solution.

Available to Canadian photographers at https://photographer.frontrowinsurance.com

The policy term is for 12 months and coverage is provided in most countries worldwide except those subject to trade restrictions.

Rental equipment coverage is also available. All equipment is covered for replacement cost for:  theft, damage, fire and loss of use. The online link ensures industry-low prices:

  • $10,000 equipment coverage: $75 CAD,
  • $2,000,000 location liability coverage: $200 CAD; $5,000,000: $350 CAD. Liability covers property damage and bodily injury that you do  while shooting on location or in a rented studio. Pays legal fees too.
  • $350 deductible for gear

 The online program for photographers follows Front Row’s lead earlier this year into online offerings for short term filmmakers and musicians. “We wanted to make the insurance process easier, faster and cheaper for photographers,” said David Hamilton, President of Front Row “Given that there is no need to speak to a broker and an insurance company underwriter is not involved, the cost to process a camera insurance policy is much less on line and we have passed the savings onto the photographer. Although the camera policy is online, we are still available to answer questions by e mail or over the phone if required."

Tags: Online Photography Equipment Insurance, Camera Insurance, photography insurance, professional photograoher, wedding photographer

CANADA’S LARGEST FILM INSURANCE BROKER IS FIRST TO OFFER ONLINE CAMERA INSURANCE POLICIES FOR PHOTOGRAPHERS

Posted by David Hamilton on Sep 2, 2015 1:14:00 PM

Front Row Insurance Brokers Inc. is excited to announce the launch of their new online camera insurance program. This unique offering allows photographers the chance to get quick quotes and process policy documents in less than five minutes, 365 days a year, 24/7 – the insurance equivalent of ‘point & shoot’.

Photographer insurance“Visitors to the site can sleep easy knowing they can pick up a gig and be out the door safely within minutes with their gear covered, general liability in place, and their office contents, laptops and library stock covered at no extra cost. “ stated David Hamilton, President of Front Row in Vancouver. “This is a disruptive product in the photographers insurance market because of the much lower cost and ability to purchase a policy in minutes without having to speak to a broker. We expect there to be a lot of interest among the approximately 14,000 commercial photographers working in Canada. The savings should average 30%.  The hundreds of thousands of hobbyists in Canada that rely on their homeowners policy could find a claim denied if they have sold even one picture or accepted money for taking portraits of their neighbor’s kids. Commercial use of photography equipment is not covered under a typical homeowners policy. Our on line camera insurance is an inexpensive and fast solution to this problem.”

Available to Canadian photographers at https://photographer.frontrowinsurance.com. The policy term is for 12 months and coverage is provided in most countries worldwide except those subject to trade restrictions. Rental equipment coverage is also available. All equipment is covered for theft, damage, fire and loss of use. The online link ensures industry-low prices: 

  • 10,000 equipment coverage: $75 CAD, 
  • $2,000,000 location liability coverage: $200 CAD; $5,000,000: $350 CAD
  • $350 deductible for gear

The online program for photographers follows Front Row’s lead earlier this year into online offerings for short term filmmakers and musicians. “We wanted to make the insurance process easier, faster and cheaper for photographers,” said Hamilton, “Given that there is no need to speak to a broker and an insurance company underwriter is not involved, the cost to process a camera insurance policy is much less on line and we have passed the savings onto the photographer. Although the camera policy is online, we are still available to answer questions by e mail or over the phone if required.”

About: Front Row Insurance Brokers Inc. is an independent  insurance broker that works on behalf of the Canadian arts and entertainment industry to provide insurance for the lowest possible cost. Should a claim occur, Front Row ensures that clients receive the money they are owed per the insurance policy, as quickly as possible. Front Row has offices in Vancouver, Toronto, Montreal and Los Angeles. Front Row’s online short shoot tool for filmmakers can be found at:  https://shortshoot.frontrowinsurance.com

Tags: Photography Equipment Insurance, Online Photography Equipment Insurance, Camera Insurance, photography insurance

Camera Insurance: How To Reduce The Cost To Insure Your Photography Equipment

Posted by David Hamilton on Aug 18, 2015 4:16:53 PM

Equipment_insurance_bannerIt would seem to be obvious that one of the simplest ways to lower the cost of camera insurance  is to assure the insurance company that the camera gear is safe and secure in your possession: but what does this mean? 

First of all, use an insurance broker that is experienced with arranging camera equipment insurance. As specialized camera insurance brokers we represent you to the insurance company to ensure that you receive the best premium and coverage available in the marketplace for your photography insurance. Coverage now available online: https://photographer.frontrowinsurance.com

Every photography equipment insurance application will ask how your gear will be protected. The underwriters charge for discomfort so give them good detailed answers that make them comfortable. Good information includes:

  1. Warranting that you will have a bonded security guard watch the gear overnight if you are shooting on location.
  2. If you do not hire a security guard, pack your gear back into the truck(s) and park it in a secure compound overnight such as a tow truck yard. They often have excellent security: fenced and floodlit, manned 24/7 and dogs!
  3. Return your gear to the equipment rental house so you are not responsible overnight.
  4. Cable your gear that is not being used when shooting on the streets in a busy urban area.
  5. Avoid checking your bags when flying.  Mysterious disappearance is not covered - you need to have an idea of the date and time when the equipment was stolen.
  6. Motion alarms are useful when shooting on location. Wedding photographers find these movement alarms useful as they cannot carry all their gear around the wedding. Put it inside your pelican case or bag and a siren will go off is someone picks it up. GPS and proximity alarms are also worth exploring. Let your camera insurance broker know that you have purchased these items.

Good information based on a little planning will ensure that you receive the best premium.

Front Row now offers on line camera insurance: https://photographer.frontrowinsurance.com. Insure your gear for as low as $10 (plus a fee). Get a quote in 1 minute. A policy in 5 minutes. Worldwide coverage. Protect your gear against: theft, breakage, fire and more. Liability is also available.

Click now for a free, no obligation online quote:  https://photographer.frontrowinsurance.com

Tags: Camera Equipment Insurance, photography equipment, Photography Equipment Insurance, Camera Insurance, photography insurance, Camera Insurance Broker, online camera Insurance

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