Equipment and liability insurance

[petto]

Title pretty much says it all. I searched for insurance in the posts and cam back with very little. Everyone stresses the importance of good equipment and liability insurance, which I also agree with, and was wondering who everyone goes through? PPA looks good but it is hard to tell what the total cost is going to be. Is it membership plus insurance cost? Could not find a contact email for them on their site and was to late to call.

So I guess the question(s) is:

1. Who do you go through?
2. What coverage do you get?
   1. Liability?
   2. Customer dissatisfaction/lawsuit coverage?
   3. Equipment coverage?
   4. Is the equipment coverage actual replacement or deprecated value reimbursement?
3. What does it cost?

Thanks for the tips everyone, I ma sure this will be a helpful thread for anyone looking for insurance.

 

[KmH]

PPA Insurance Solutions | Professional Photographers of America

There is also an article in the February issue of Rangefinder magazine regading the types of insurance needed. Page 40.
Office contents
Misc equipment
Props, sets, wardrobe
3rd party property damage
Business interruption
Non-owned & hired auto liability
Loss payee & additional insured
Errors & Omissions liability

Remember - if you decided you can't afford to pay to insurance against a type of risk, you are essentially deciding to self-insure against those risks using your own assets.
Insurance companies put their assets up on your behalf when you pay them for insurance.

 

[CCericola]

The PPA offers members a 15k equipment insurance policy free with the membership dues. Which is pretty good for a new photographer but way too low for a seasoned pro with much more equipment. The liability insurance is optional and an extra charge. I don't remember the rates. Hill and Usher specialize in liability and equipment service packages. You can also contact your existing insurance agent and ask for a quote. I have found that the average cost for 1million liability and around 50k in equipment insurance is about $300 a year. The PPA does also offer some legal help that is also prepaid in your dues if you are marked as a portrait/wedding photographer.

 

[petto]

I defiantly know I need insurence, for sure. Do either the above carry and if so what do you have? What is cost of PPA with 2nd poster list? I have seen many options but wanted some 1st hand feedback if possible.

 

[2WheelPhoto]

State Farm has my back on 8K in equipment, full coverage, NO deductible, for right at $100 a year and i gladly pay it. I could drop my 70-200 VRII and would only sweat long enough to call the kind agent.

 

[12sndsgood]

100 a year is nice. I just contacted my agent and he is shopping prices but said he,d estimate around 300 or so for liability around a million and another 1-200 for equipment insurance. I probably won't have actual prices for a week or so. Trying to figure out myself what will be more economical at this point in time since I'm not working.

 

[Judith57]

Trying to figure out myself what will be more economical at this point in time since I'm not working

 

[Vtec44]

State Farm has my back on 8K in equipment, full coverage, NO deductible, for right at $100 a year and i gladly pay it. I could drop my 70-200 VRII and would only sweat long enough to call the kind agent.

Oh WTH? I'm paying $500 annually.

 

[Robin Usagani]

State Farm has my back on 8K in equipment, full coverage, NO deductible, for right at $100 a year and i gladly pay it. I could drop my 70-200 VRII and would only sweat long enough to call the kind agent.

Oh WTH? I'm paying $500 annually.

State farm wont cover anything if you use it professionally.

 

[cgipson1]

State Farm has my back on 8K in equipment, full coverage, NO deductible, for right at $100 a year and i gladly pay it. I could drop my 70-200 VRII and would only sweat long enough to call the kind agent.

Oh WTH? I'm paying $500 annually.

State farm wont cover anything if you use it professionally.

State Farm covers me.. about 30k or so....

 

[Vtec44]

State farm wont cover anything if you use it professionally.

Interesting.

I had to purchase insurance for a paid event that I covered so I spoke to my agent, explained to her the situation. She said the policy would cover general liability and equipment, but they do not sell 1-day policy and $500 would cover up to 10k of equipment and 1m of general liability for 1 year. There isn't anything on the paper that states it has to be personal/hobby and they won't cover if it's a business. I guess it's safer for me to double check with my agent tomorrow. lol

 

[petto]

State Farm covers me.. about 30k or so....

How much does that run and does it include your liability?

 

[cgipson1]

State Farm covers me.. about 30k or so....

How much does that run and does it include your liability?

Strictly equipment... I don't currently run any liability (except homeowners) since I am not actively shooting professionally any more. The equipment insurance is very reasonable... but I don't have the numbers handy at the moment. State Farm is aware that I have a Business License / LLC, but my agent is aware that the business is inactive at this time. Now that I think about it, I am not sure if they classify my coverage as business / professional or not!

 

[spacefuzz]

Wow I got screwed, one company quoted me $700 for 1 mil in liability for a year.......

State farm wouldnt quote me because I dont have a studio.

 

[Robin Usagani]

Wow I got screwed, one company quoted me $700 for 1 mil in liability for a year.......

State farm wouldnt quote me because I dont have a studio.

Thats about right