Covering Your Bases: Equipment Insurance

Source: Terry White's Tech Blog.

A few weeks ago I wrote about safety when it comes to setting up a shot in public places, but there's another, equally important aspect about safety that deserves its own post. Your gear is what allows you to capture the best images for your clients, so insuring that equipment may just save you from a major financial setback if something should happen. You may find that your homeowner's insurance won't cover equipment that you use to make a living. Talk to your agent to find out, and if you need to add more coverage for your photography gear, check out the options below!

• Start with basic coverage through an association membership. Groups like PPA offer coverage up to a certain dollar amount once you join (in this case, up to $15,000). More coverage can be added up to $100,000.00 with their PhotoCare Plus plan.
• Package Choice through Hill & Usher is a popular plan in the photographic community. The site allows you to easily add or delete items from your insured equipment schedule.
• Another provider is TCP & Co., which offers options that look great for studio owners. 

While you're at investigating equipment insurance options, take a look at this article by The Modern Tog about other types of insurance you should think about purchasing if you plan on starting your own business. Protect yourself, your family, and your business for peace of mind while you do what you love!

-Friday Ambassador

Works Cited:

Brenke, Rachel. "Photography Business Insurance Coverages Every Photographer Needs." The Modern Tog. TheModernTog.com, 2014. Web. 24 July 2014.

Hill & Usher, LLC. "Package Choice™ Insurance for Professional Photographers from Hill & Usher Insurance & Surety, LLC." Package Choice™ Insurance for Professional Photographers from Hill & Usher Insurance & Surety, LLC. Hill & Usher, LLC, 2014. Web. 24 July 2014.

PPA. "PPA Insurance Solutions | PPA." PPA Insurance Solutions | PPA. Professional Photographers of America, 2014. Web. 24 July 2014.
TCP & Co. Inc. "Photography Insurance." Studio Photography Insurance. TCP & Co. Inc., 2014. Web. 24 July 2014.

White, Terry. "How I Broke My D700 By Tethering - Terry White's Tech Blog." Terry White's Tech Blog. Terry White, 22 Sept. 2011. Web. 24 July 2014.

Three People You Need on Your Team!

There is so much that goes into running a business. If you plan on working for yourself, you're still going to need some help. Some of you may want to hire on assistants or go into partnerships with other photographers, but there are three key team members everyone should have.

1. Lawyer. Whether you seek out individual counsel or get covered legally through a professional organization like Professional Photographers of America (PPA), an attorney can help you draft solid contracts and will be able to assist if something happens that requires representation.

2. Accountant. Tax season makes me oh so anxious! If I didn't have someone on my team to make sure my numbers make sense and I have found all possible deductions, I'd probably end up paying way too much and thinking I paid way too little. An accountant can get you on the right track when it comes to bookkeeping, and can also provide financial advice about things like incorporation.

3. Insurance agent. Covering your gear with good insurance will save you major headaches when something breaks or is stolen. It's stressful enough to lose an expensive camera to damage or a thief; you don't want the fact that you have bad or no insurance to bring even more stress to the situation! PPA covers up to a point, but you'll likely need to up your coverage as your gear collection grows.

I also have a great banker and fabulous friends who will model for my lighting and retouching experiments (like Briana, right), all of whom have helped make my business stronger. If you've started your business or have experience in the industry, what do you think of the list? Did I miss someone vital to your team?

-Friday Ambassador

Pay Attention! This Is Important...

Saturday Ambassador

I like to believe that most human beings are basically decent and won’t harm you or steal from you and will treat you and your property with due respect. However, I am 43 years old and I’ve been around the block a time or two. Over the years, I’ve developed a rather cynical attitude; I’ve worked in professions, such as law enforcement and the transportation industry, that have brought me into contact with some of the less desirable aspects of the human species.

For the past thirteen years, I’ve been an OTR (over-the-road) truck driver, delivering freight across the nation via eighteen wheels. I carry the tools of the photographic trade with me in the truck, in lieu of the ubiquitous television and other normal trucker paraphernalia. My sleeper is studio, production set, digital darkroom and library. The equipment I traditionally carry includes cameras, lenses, lighting gear, sound apparatus, two laptop computers and a portable generator. The value of these items totals well over $10,000 and, as a student, I would find any of this equipment very difficult to replace. If I was injured in an accident and the vehicle towed, it is very likely that many these valuable items would simply “disappear”. Far too many people have access to such an event and not everyone is scrupulously honest.

Photographic Equipment, Deva Mayorga-Malone, 2013, HDR Composite

 

I have been on vacation for the past couple weeks, and my truck has been sitting in an unsecured tractor-trailer lot in a major metropolitan area. When I returned, I found that my truck had been ransacked and tools, CB radio, et cetera were gone. Fortunately, I had removed most of my valuables and all of my photographic paraphernalia from the vehicle, yet it is certainly vulnerable when I am working.

Door Damage 1,  Deva Mayorga-Malone, 2013, Digital Cell Phone Image

 

Though few students probably travel as much as I do, you must transport your equipment from time to time to complete assignments on-location. Here are some tips for keeping your equipment safe:

      Lock your car! I know that sounds basic, but it is vitally important even if you are in a rural area and know everyone.

 

      Don’t invite theft. Don’t leave items in the car where they are visible – place them in the trunk, cover them with a blanket, whatever it takes. This stuff is far too valuable to lose to a thief.

 

      Don’t talk about the equipment that is in your vehicle. The less people know, the safer your belongings will be.

 

      If you don’t have an alarm, get a fake: A box with a flashing red LED that sits on the dashboard is a very good deterrent. Thieves look for easy prey.

 

      Park in well-lit areas where others can see your car and don’t leave your loaded vehicle unattended for long if you can help it.

 

      If a theft occurs and you discover the scene, don’t touch anything. Let the police collect evidence before you inventory your loss.

 

      Keep your receipts and make a list of equipment serial numbers. This is how the police will track your equipment if it is stolen.

 

      Perhaps most important of all, insure your equipment. Many insurance companies will write a provision for equipment that is not business-owned on a homeowners’ or renters’ insurance policy. If you do have a photography business, you should insure your equipment as a matter of course as a prudent business owner.

 

These are the tools by which you will perform your craft as a photographer. Protect your investment!

~Saturday Ambassador