Don’t Count on Your Home Insurance Policy for Coverage!
Posted by APA Insurance Services on
Do you run your photography business from home? Don’t be fooled into thinking that your home insurance policy is providing you with the appropriate coverage.
According to a survey conducted for the Independent Insurance Agents & Brokers of America, a trade association suggests 40 percent of people who work from home thought incorrectly about their homeowners’ coverage.*
“The typical home insurance policy provides zero coverage for business related claims, “ says Bill Wilson, associate vice president for education and research for the IIABA.
Say for instance, your client stops by your home office to discuss an upcoming bridal shoot, and slips and falls on your front doorstep. Would your homeowners’ insurance policy cover the damages? Don’t count on it!
“If a photographer is running a business out of their home, they should not assume their homeowners policy will provide them with adequate coverage,” says Karen Stetz, the photography insurance expert at APA Insurance Services. “This can be a very costly misconception.”
Indeed, if a lawsuit is brought against your photography business and you haven’t secured commercial insurance coverage, you can expect to pay for defense costs and/or a settlement out of pocket.
The photography insurance experts at APA Insurance Services specialize in providing custom, affordable photography insurance packages. While every client’s coverage needs are assessed individually, a Business Owner’s policy is often the best place to start.
A Business Owners Policy is a broad policy covering the needs of small businesses. For photographers, the policy typically covers:
Business Personal Property (furniture, fixtures, etc),
Computer Hardware and Software
Personal Property of Others (such as rented wardrobe, sets and props)
Loss of Business Income
Camera Equipment (owned and/or rented can also be included)
Business Liability for off premises photo shoots
Business Liability for any premises that you own, rent or lease (such as your home office)
Rented Equipment Liability (as required by a rental house)
Plus a variety of other liability exposures!
Request a FREE custom Photography Insurance Quote today! APA Insurance Services is a five-star agency that makes it EASY to secure the RIGHT insurance for LESS! Contact us today by visiting http://www.apainsuranceservices.comor calling 678.822.0150!
APA Insurance Services is proud to be the exclusively endorsed insurance provider of APA National. We provide complimentary certificates of insurance to all of our clients, with a standard 24-hour turnaround!
Source* Phipps, Jennie L. “Working at Home? Get Home Business Insurance.” Home Policy Wont Cover Home Business Mishaps. Bankrate.com, 30 July 2010. Web. 11 June 2012. <http://www.bankrate.com/finance/insurance/working-at-home-get-home-business-insurance-1.aspx>.
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