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Photography Insurance-Insurance for the Photographer
Part and parcel of establishing your own photographic business is establishing your own legal entity. This means establishing yourself for taxes. This is broader than the scope of this article, because every country has it's own business rules. Also every state in federal countries has different legal rules. The first thing you need to do is register your business according to your local rules, if you are unsure of this either take legal advice or go and see your local town hall and ask them about local legal requirements. You then need to separate your private finances from your business finances. Even if you pay your bills with a credit card you should have a separate business card. Once you have set up your business, then you have to ensure that that business is protected, and one of the ways you can do this is to insure yourself against risks to your business. Whilst you should be able to insure an overall business policy for your business you need to make sure that all the liabilities you face both fiscally and legally are covered. We live in a litigative society, and whilst insurance may seem an expense you can do without, it gives you peace of mind. You need to consider insurance for your errors, omissions and liabilities, as well as ensuring your equipment for loss or damage. You also need an insurance against a claim made as a result of an accident, occurring whilst you are conducting a photographic session. All sorts of simple errors and omissions can occur between taking the photographs and giving the finished image to the customer. Film can get lost either through your fault or the processor's. Images may be lost whilst shipping, or in the postal system. Images may also be lost by private carriers, paying a premium price for services may not be sufficient, do you know whether or not you are covered by their insurance, and if you are what is the limit? Whilst it is possible for images to be lost in Cyberspace you should be able to cover those eventualities yourself, by having back up systems. You may release the images to the incorrect party. As well as this there may be a human delay and you may find yourself in the wrong venue, with no time to correct this. There are other errors that you can be held responsible for this; your customers may sustain a personal injury whilst they are in your home or studio. It is advisable to protect yourself with liability insurance. If someone trips or falls over a piece of equipment, you can be held responsible for the damage. One of your customers may even trip and sustain and injury outside your house on the steps, but if they are coming to your house for business purposes, the business is often deemed to be liable. Depending on what type of work you are doing you may need an insurance policy for your models. Supposing you take a model to photograph to an outside location and she or he is struck by lightning, or a stray horse, etc? You will also have to ensure that all your equipment is also covered whilst you are on location, as well as inside your normal working area. If you work internationally on location, it is very important to ensure that everything is covered on an international basis. When you protect your equipment make sure that remember to insure all of it. This does not include just your camera, lenses, and other obvious pieces, but your computer, fax machine, as well as all your software. If you use all your own dark room, then there is that equipment to insure as well. Even if you are using your house, your office equipment will not be included on a normal domestic policy. As well as all these things you need to have a type of health insurance that covers you if you are sick, or cannot make an assignment. Also what happens when your car breaks down, and you miss a wedding? All sorts of events can and do occur. It is also normal for any individuals to cover themselves for loss of income. You need to have an insurance policy for this, not just for your health expenses, but to ensure that over basic bills such as mortgages or repayments are covered. If you have employees, then the business of insurance becomes more complicated, you need to ensure against their actions against your customer's as well. Supposing they get caught up in a claim for sexual harassment, then you yourself are responsible. Each added little extra thing which you ensure yourself against will probably only add a few extra dollars to your annual bill, and the dollars spent may save a lot of heartachelater. You can ask to extend your private insurance to include a business package, or there are several companies that ensure the professional photographer's needs with a separate package of comprehensive insurance. It may also be necessary to extend your vehicle insurance for the transportation of equipment, or it may be cheaper to include such things as loss of equipment from an unattended vehicle on your business package. It is not advisable to assume that you are covered for liabilities on existing insurance policies; it is always safer to check. Publisher & author: Roy Barker. Roy is the author of the popular ebook, Income from Photography - a downloadable ebook which guides the reader on how to start up and market a Profitable Photography business. It can be viewed at http://www.profitable-photography.com. Other related and reviewed services & research sources can be found at http://www.profitable-photography.com/html/117/ You can find more detail relating to this article at http://www.awin1.com/awclick.html?mid=255&id=55556 The information on this and adjoining pages may be reprinted and used on other sites providing all information remains unchanged and the article and all pages remain as they are found here in its current font size & image with all links in tact. The information on this and adjoining pages may be reprinted and used on other sites providing all information remains in the article and all pages remain as they are found here in its current size & image with all links in tact.
Latest News:Site: Yahoo! News Search Results for news Futures flat; Lehman buyout news, data awaited (Reuters via Yahoo! News) Stock index futures were little changed on Friday as investors awaited news on the fate of Lehman Brothers after a slide in its stock this week heightened fears over whether the investment bank can survive. Myanmar's Suu Kyi to get family letters, news mags (Reuters via Yahoo! News) Detained Myanmar opposition leader Aung San Suu Kyi has managed to wring small concessions from the ruling generals in the form of letters from her family and some international news magazines, her lawyer said on Friday. SEC Looks Into UAL Stock Scare; Implications For Online News? (CBS News) A ton of digits have been devoted to this in other spots but the SEC's decision to investigate takes it to another level. The backstory: a six-year-old news story about UAL declaring bankruptcy made it into the Tribune-owned Sun-Sentinel 's current news flow, was picked up by a Google (NSDQ: GOOG) News bot and, via a reporter for a newsletter, made it onto Bloomberg News. After a lot of buck ... JCDecaux in talks for News Outdoor Group in Russia (AP via Yahoo! News) French outdoor advertising firm JCDecaux SA said Thursday it is negotiating to buy Russian rival News Outdoor Group from global media company News Corp. News Corp tightens grip on Premiere with new CEO (Reuters via Yahoo! News) Rupert Murdoch tightened his grip on German pay-TV broadcaster Premiere by appointing News Corp executive Mark Williams as CEO in a move to get the company back on track. Phila. mayor to announce grim budget news (The Philadelphia Inquirer) The Nutter administration is expected to announce grim budget news today, which is all but certain to lead to significant spending cuts - perhaps as high as 10 percent - in some city departments, according to three sources familiar with the budget. Help News pick Stadium's greatest moment (New York Daily News) The News is marking the countdown to the final game at The House That Ruth Built by reflecting on Yankee Stadium's greatest moments - and we're asking you - the reader - to help us pick out the best of the best. JCDecaux and News Corp. in talks to combine outdoor ad groups (International Herald Tribune) The News Corp. chief executive, Rupert Murdoch, has recently expressed nervousness about investments in Russia, where News Outdoor generated the bulk of its revenue last year. SEC Looks Into UAL Stock Scare; Implications For Online News? (paidContent.org via Yahoo! Finance) A ton of digits have been devoted to this in other spots but the SEC's decision to investigate takes it to another level. The backstory: a six-year-old news story about UAL declaring bankruptcy made it into the Tribune-owned Sun-Sentinel's current news flow, was picked up by a Google News bot and, via a reporter for a newsletter, made it onto Bloomberg News. JCDecaux in talks to buy News Corp. billboard unit (AP via Yahoo! Finance) In a deal that would create the world's largest outdoor advertising company, French conglomerate JCDecaux SA said Thursday that it is in talks to buy Russian rival News Outdoor Group from global media company News Corp. Site: news - Google News News Analysis A Difficult Road Awaits Panetta at the CIA - New York Times
MORE RESOURCES: Site: Yahoo! News Search Results for insurance NC insurance commissioner orders lower auto rates (AP via Yahoo! Finance) North Carolina State Insurance Commissioner Jim Long on Thursday rejected an industry request for an almost 13 percent increase in auto rates and has ordered a reduction instead. Auto-insurance rates in N.C. ordered cut by 16.1 percent (Winston-Salem Journal) N.C. Insurance Commissioner Jim Long rejected yesterday an industry request for an almost 13 percent increase in auto rates and has ordered a reduction instead. Survey: Insurance Industry Expects Subprime Issues to Negatively Impact 2009 Performance (Insurance Journal) Insurance executives expect subprime and other credit issues to continue to have a significantly negative impact on the industry's financial performance in 2009, and they see credit and pricing risks Nevada Names Baker Acting Insurance Commissioner (Insurance Journal) The Nevada Department of Business & Industry named Betty C. Baker acting commissioner of the Division of Insurance. Baker will oversee the Division while a replacement is sought for Alice Molasky-Arma Here's the lowdown on 'private' bank and broker insurance (USA Today) Q: I've noticed several banks and brokerage firms claiming they have private insurance that protects accounts above the FDIC and SIPC limits. Should investors trust those promises? State unemployment insurance claims up (Macon Telegraph) The Georgia Department of Labor announced Thursday that 59,090 laid-off workers filed first-time claims for unemployment insurance benefits in August, an increase of 72.1 percent from August 2007, but a slight decrease from July to August this year. Fitch Ratings Gives Island Insurance an "Aq" (Insurance Journal) Island Insurance Co. Ltd., Hawaii's largest locally owned and managed property and casualty insurance carrier, has reaffirmed its "Aq" rating for Quantitative Insurer Financial Strength (Q-IFS) by Fit Looking for Free or Low-cost Health Insurance? (Carteret County News-Times) (ARA) - It's no secret that accessing health care is a challenge for the 47 million Americans who are uninsured. Lack of health insurance forces many Americans to choose the health care they receive based on what they can afford, not what they actually need. Uganda: Health Insurance May Face NSSF Fate (AllAfrica.com) The government has finally resolved that all salaried workers and employers, will with effect from July 2009, be required to make compulsory contributions to the new National Social Health Insurance Scheme. The net inflow from life insurance companies into equity stood at Rs550bn till March 31, 2008 , foreign institutional ... (India Infoline) The life insurance industry was the largest investor in the Indian equity markets, ahead of foreign institutional investors and mutual funds, according to the reports. Site: insurance - Google News Obama Plan for Government Insurance Draws Criticism - Bloomberg
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