Learn about business insurance requirements and the most common policies for photographers and videographers in Illinois.
General liability insurance is one of the most commonly purchased insurance policies by photographers and videographers in Illinois. It can protect your business from expenses associated with common mishaps, such as damage to a client's property and injuries at a photo / video shoot. If you have a commercial lease, your property manager may require you to purchase this policy.
Your clients may require professional liability insurance in a contract. Also called errors and omissions insurance, professional liability insurance provides financial protection and coverage for legal fees if someone claims your work was late, incomplete, or failed to meet certain standards.
State law in Illinois requires every business with employees to provide workers’ compensation coverage, and business-owned vehicles must be covered by commercial auto insurance. Personal vehicles used for business purposes should have a hired non-owned policy, as well.
The most common policies for photographers and videographers in Illinois vary depending on revenue, client contracts, partnerships, and other factors.
General liability insurance is the foundation of a photographer or videographer’s business protection, with coverage that extends to client injuries, client property damage, and advertising injuries. Most commercial leases require you to have this coverage.
Many clients require proof of professional liability insurance before entering into contracts for professional services. This policy, also called photographer liability insurance or errors and omissions insurance, can help cover legal expenses if you’re sued for unsatisfactory performance or a work mistake.
Photographers and videographers sometimes qualify for a business owner’s policy. This package helps your business save money by bundling commercial property insurance with general liability at an affordable rate.
If you own a photography or video production business in Illinois that has employees, you are required to carry workers’ compensation coverage. If you are a sole proprietor, the coverage is optional. However, if you are injured on the job, workers’ comp can also pay for your medical bills, including ongoing rehabilitation costs. It can also pay for some of your missed wages.
How much will photography or videography business insurance cost you? Potentially less than a new professional camera, according to data from Insureon insurance applications.
Most photographers and videographers can expect to pay roughly the national median for insurance. That means $425 per year for a general liability policy, or $500 if you choose to bundle general liability coverage with commercial property insurance by purchasing a business owner’s policy. Errors and omissions insurance will cost about $340 a year for many photo / video businesses.
The one major outlier is workers’ compensation insurance. The national median average is slightly over $1,000 per year, but in Illinois the median cost for workers' comp is close to $1,900. However, workers' comp premiums vary tremendously based on the number of employees.
Insureon’s industry-leading technology helps photo and video professionals in Illinois save time and money shopping for insurance by comparing policies from top U.S. carriers. Start a free online application to review quotes for the policies that best fit your business. Our insurance agents are licensed in Illinois and can answer your questions as you consider coverage.
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