SUMMARY
Running a photography business requires understanding insurance, which is often overlooked until a loss occurs. Homeowner's or renter's insurance does not cover gear used for paid work; a separate business policy is necessary. Photographers typically need two distinct policies: gear insurance for equipment and general liability insurance for incidents like injuries or property damage at a shoot. For many, Professional Photographers of America (PPA) membership offers a cost-effective way to obtain both types of coverage. It's important to note that deductibles can make small claims financially unviable, and filing any claim can lead to increased premiums for several years.
TAKEAWAYS
Homeowner's insurance excludes gear used for paid photography work.
Two separate policies are needed: gear insurance and general liability.
PPA membership can be a cost-effective insurance solution for many photographers.
Deductibles and long-term premium increases impact the decision to file a claim.