# Equipment and liability insurance



## petto (Mar 18, 2012)

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:

Who do you go through?
What coverage do you get?
Liability?
Customer dissatisfaction/lawsuit coverage?
Equipment coverage?
Is the equipment coverage actual replacement or deprecated value reimbursement?

What does it cost?
Thanks for the tips everyone, I ma sure this will be a helpful thread for anyone looking for insurance.


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## KmH (Mar 18, 2012)

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.


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## CCericola (Mar 18, 2012)

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.


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## petto (Mar 18, 2012)

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.


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## 2WheelPhoto (Mar 18, 2012)

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.


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## 12sndsgood (Mar 18, 2012)

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.


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## Judith57 (Mar 18, 2012)

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


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## Vtec44 (Mar 18, 2012)

2WheelPhoto said:


> 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.


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## Robin Usagani (Mar 18, 2012)

Vtec44 said:


> 2WheelPhoto said:
> 
> 
> > 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.
> ...



State farm wont cover anything if you use it professionally.


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## cgipson1 (Mar 18, 2012)

Schwettylens said:


> Vtec44 said:
> 
> 
> > 2WheelPhoto said:
> ...



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


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## Vtec44 (Mar 19, 2012)

Schwettylens said:


> 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


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## petto (Mar 19, 2012)

cgipson1 said:
			
		

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



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


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## cgipson1 (Mar 19, 2012)

petto said:


> cgipson1 said:
> 
> 
> 
> ...



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!


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## spacefuzz (Mar 19, 2012)

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.


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## Robin Usagani (Mar 19, 2012)

spacefuzz said:


> 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


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## 12sndsgood (Mar 19, 2012)

my agent was saying that allot of times they base it off of how much the company makes. so if your business is making more money then your coverage costs could be higher.  i could have misheard him though.


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## CCericola (Mar 19, 2012)

Get a quote from Hill and Usher. They are very reasonable and they specialize in working with Photographers.


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## KmH (Mar 19, 2012)

spacefuzz said:


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


Their actuarial tables show them that because you don't have a studio, you and your clients are at greater risk of being injured. Part of the issue, both the cost for $1M in liability and no studio/no quote, is where you are - southern California.


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## Tony S (Mar 19, 2012)

The Tom C Pickard company also specializes in photographer insurance and will get back to you pretty quick with an online quote. www.groupinsure.com

State Farm is hit and miss with insuring photographers, according to my agent when I asked him about this it is either an uneducated agent or they are going outside State Farm and getting an Inland Marine policy. I have State Farm for my home and car, there is no way I would tie business insurance in with that for two reasons. 1. keep my business separated from private stuff, it's much simpler when you don't comingle the two  2. file a claim and your homeowners rate can climb dramatically


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## petto (Mar 20, 2012)

Does anyone here have TCP insurance?  Do you feel the coverage is adequate in regards to liability and equipment coverage?


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## Tony S (Mar 20, 2012)

I have had TCP for over 8 years now. 2 million general liability coverage and I have full photographic equipment (computers and such are covered since I'm no where near the limit in my policy) replacement for what I have listed on my schedule of over 25K. I budget $70 per month for insurance and have a little left over after paying the premiums to put into something else.


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## Netskimmer (Mar 20, 2012)

I spoke with two state farm agents in my town, both quoted me about 85-100/year for abour $6,000 worth of coverage but one told me to record everything and lump all the little stuff (lens caps, cords, ect) and put it under misc. and put a price on it, even if it only comes to about $100 and the other told me that they would only be interested in the 'bigger' items, cameras, lenses, tripods, ect. It's a little confusing.


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## petto (Mar 21, 2012)

Thanks Tony, sounds like good coverage.


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## Balmiesgirl (Mar 27, 2012)

spacefuzz said:
			
		

> 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.



Me too 
I pay about 700 a year for liability and equipment insurance....

Gear doesn't make the photographer! ( but here's my stuff: Nikon d3, d300, 14-24 2.8, 24-70 2.8, 70-200 2.8 II, 50 1.4, lots more fun stuff!


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