Photography Gear Insurance - Policies have an ON Premises Limit and a separate OFF Premises Limit

Almost all professional photographers insurance policies have a separate ON Premises equipment limit and OFF Premises equipment limit. The ON Premises limit might be $50,000, however, when you go OFF Premises (on location) the limit of coverage is usually lower, say $10,000, $15,000, or $25,000. Make sure you discuss this with your insurance broker and/or read the fine print of your policy. Also, discuss the coverage treatment - Is your equipment covered at Replacement Cost or Actual Cash Value (depreciated). This is a very important criteria. You don't want to finding out what you have during a claim settlement.

Once last thing. I spoke with a man this morning who was declined coverage from one of our competitors. The declined coverage was because the policy was written in his individual name but he owned and operated his business in the name of his LLC. The name on the policy needs to match the name of the business. So, if you own an LLC or Corporation, the policy MUST be written in the name of the LLC or Corporation.

Thanks for reading. We are always looking out for you so that you have the best coverage available for the best price.

Howard Burkholz

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