A business owner’s policy (BOP) bundles general liability insurance with commercial property insurance. It typically costs less than if the policies were bought separately.
A business owner’s policy protects videographers and photographers from common business risks by combining general liability insurance with commercial property insurance. Coverage includes customer injuries, damage to photo and video equipment, and more.
A BOP can pay costs for:
Photographers and videographers can work with an insurance agent to tailor a BOP to meet their specific needs.
Photo, video, and film production professionals might consider including a business interruption insurance endorsement on their policy, which can cover operating expenses and lost income if your business is forced to temporarily close due to a covered event, such as a fire. You can also add inland marine insurance to protect mobile property, such as cameras that travel to different locations.
Small, low-risk businesses usually qualify for a BOP. That might include:
The general liability portion of a business owner’s policy can pay for medical bills, legal costs, and other expenses related to third-party injuries or property damage, such as:
The general liability portion of a BOP also protects videographers and photographers against advertising injuries, including:
For example, if you say something negative about a competitor’s work at a networking event and are sued for slander, general liability insurance could help pay the resulting legal fees.
The commercial property insurance in a BOP protects:
If your camera gets stolen or a fire breaks out at your studio, your business owner’s policy will help you recoup your losses by paying for replacement items or repairs.
If your business is forced to close temporarily, it could be devastating. Business interruption insurance can protect your business from the financial hit of a forced closure by paying for lost revenue, rent, payroll, and other operating expenses.
For example, if a windstorm damages the roof of your building, allowing rain to seep in and soak your photography equipment, business interruption insurance can pay for day-to-day business expenses until the restoration is complete. That gives you time to replace damaged cameras and other vital equipment without going out of business.
Speak to a licensed Insureon agent to add business interruption coverage to your BOP.
A business owner’s policy provides financial protection against many common risks, but it doesn’t cover everything. Photo and video professionals should also consider:
Professional liability insurance: Also called errors and omissions insurance (E&O), this policy can pay for lawsuits related to work performance. For example, if a videographer hired to shoot a wedding proposal misplaces the memory card containing the footage, professional liability insurance can pay for legal expenses if the bride-to-be sues.
Workers’ compensation insurance: This policy can pay for medical expenses if an employee is injured on the job. For example, if a photographer falls off a ladder while trying for the perfect angle, workers’ comp would cover their hospital bill. Most states require this coverage for businesses with employees.
Commercial auto insurance: Photo and video businesses that own a vehicle typically must carry commercial auto insurance to comply with state laws. This coverage helps you recover from accidents involving your business vehicle.
Inland marine insurance: A standard commercial property policy covers business property in a fixed location, which is why photo and video professionals often invest in inland marine insurance. This policy covers your cameras and other business property wherever you take it.
Are you ready to protect your photo or video business with a business owner’s policy? Complete Insureon’s easy online application today to compare quotes from top U.S. carriers. Once you find the right policy for your business, coverage can begin in less than 24 hours.