It’s true that none of us know what will happen. Something bad might happen tomorrow, or for a really long time, nothing significantly bad will ever happen to our business. But one thing for sure is that if you have insurance, you can protect yourself if anything happens to you. That’s the whole point for Grand Rapids photographers to be insured.
Now, there are many benefits that you can get from insurance. As a photographer, you need to have coverage on your equipment and also your working space. You also need to be protected in case that you accidentally cause a trouble.
Equipment and space
You invest thousands of dollars in buying cameras, lenses, bags and other equipment. They are essential in making sure that you’re able to work for your clients. It’s also important to note that these things can break or stolen. And you cannot prevent people from breaking into your house to steal. If you insure your equipment, you don’t have to spend thousands of dollars on a new camera if it’s suddenly unusable.
It’s also worth noting that a working space is important for editing your pictures. But what if a disaster came and cause major damages to the building? You can’t possibly force yourself to work in such a broken space! You need to rent a new place to work and at the same time, you need to pay for the building reparation which could be heavy. But consult this to your insurance company and they are willing to provide for both the reparation and rest fee.
These two benefits are often offered as a bundle called BOP which is a good idea for full protection on properties. Professional Grand Rapids photographers like https://www.chrystinmelaniephotography.com cannot let things like burglary or breaking cameras prevent them from fulfilling their contract’s deal.
Have you ever heard of cases where the photographers are sued for their works by clients and they end up paying after working for them? That’s a problem that anyone could face should your client, for example, feels like you are providing something that is up to their standard. Photography is not a case where quality can be measured; it’s art.
At this point, you can’t really help it but to bring it to the court or agree to refund their payment. If you feel unfair of having to pay for the legal fee, that’s where your professional indemnity insurance comes in. You don’t have to pay for anything from legal to compensation that the court requires you to pay. If you win, you protect your image and business and if you lose, you still don’t have to pay that much.
Investment and more
Insurance is a type of investment and your money is not exactly gone after years of paying a premium. At the end of the period, you are usually allowed to withdraw the money. Remember that you also get special privileges if the company sees your performance. You may have never seen the need to claim anything, so the company wants to give a discount for your premium for example.
Getting an insurance is a protection that all Grand Rapids photographers should not neglect.