For most people in the photography and videography business, their equipment is critical to success. Unless all the key pieces of kit you need to do your work are in good working order it is simply not possible to operate. Cameras and lenses are some of the most important and expensive pieces of equipment and something you will use on every job. With this in mind, it makes sense to take out specialist camera insurance to protect them.
What is camera insurance?
A photography business is very time-critical, and a spanner in the works could cause chaos. You could, for example, come into work one day to find your camera has been stolen or a leak in the roof has caused water damage to it overnight!
To make sure you can be up and running quickly after a disaster, specialist camera insurance is essential. Taking out bespoke cover means that you will never be left without the essential tools – such as your camera – your videography or photography business needs to operate.
What should you look for when taking out camera insurance?
The key thing to look for is a bespoke policy for photographers or videographers that has the specific protection your business needs. The camera insurance provided by Aaduki, for example, is tailored to fit each of our clients and their particular circumstances.
What sort of thing can be included in your policy? It goes without saying that standard cover such as theft and accidental damage is a must-have.
“New for old” cover is also popular because this ensures that, if your current camera cannot be repaired following a claim, it is replaced with the latest model instead. Also, you will need a policy that will cover hire charges for alternative equipment to keep your operations ticking over whilst your own equipment is being repaired.
But it’s not just the policy wording that’s important – having the right advice and someone readily available at the end of the phone for you makes all the difference – especially when you need to make a claim.
Why is it so important to insure your camera for the right amount?
It really is vital to insure your camera for the current market cost and not what you paid for it originally. Doing this means you get a replacement at the current market value and are not left out of pocket. It is also crucial to keep the inventory of your equipment on your policy up to date throughout the year if you change or buy new gear. If you leave new and expensive gear off the list, a claim could be refused or paid out at a lower amount than you were expecting.
Should I only cover my camera with insurance?
Many photographers or videographers wonder if they only need to cover key equipment like their cameras or whether they should insure every piece of kit they use when taking out a camera insurance policy. In addition, you may wonder if it’s worth just insuring your main camera and not bothering with back-ups or older models. The simple answer is that you should insure all your equipment.
Doing this gives you a worst-case scenario level of protection for your business. Should your premises be burgled while you are out on a job, you can rest assured that you are properly covered against it. It will also mean that whatever kit you decide to take out to jobs has cover too.
The “average” clause
An insurance contract only works if the insurer understands the risk they’re signing up to; if they’re suddenly faced with an unexpected cost because you under-insured the items, they could apply the “average clause” and only pay the claim in proportion with the cover you purchased.
Can you add cover for your camera to your home insurance policy?
Some photographers and videographers opt to follow this route but it is not advisable. It is essential that whoever is responsible for your home insurance knows exactly what is covered, the value of any specific equipment in your home and the fact that it is being used for professional purposes.
For the majority of home insurance policies, those providing the insurance just do not have a full understanding of these factors. This could see you thinking your camera is protected by home insurance when it is not. General home insurance does not consider key questions for equipment like cameras – such as ‘will your camera be insured if stolen from an unattended car?’
Also, your home insurer will probably not have the in-depth knowledge of your business, and won’t be equipped to get you back up and running following a claim as fast as a photography insurance specialist like Aaduki. Aaduki has connections across the photographic industry (eg: equipment repairers and suppliers) who can step in and help when a claim occurs. Likewise, your home insurer is unlikely to cover the cost of hiring alternative equipment whilst your equipment is under repair.
Get cover today
Here at Aaduki, we are specialists in providing bespoke camera insurance policies to those in the videography and photography industries. Our expert team can provide trusted advice on what sort of cover is right for you and what should be included. Contact us today and we’ll be happy to assist you in arranging a quote.
Frequently asked questions
Do you provide cover outside of the UK?
It depends on the policy you take out. Our tailored packages can be set up to give protection in the UK but also in Europe and around the world.
Is camera insurance mandatory for a photography/videography business?
It is not a legal requirement to take out camera insurance, but it is highly recommended nonetheless. Without it, you could be left severely out of pocket in the event that your equipment is lost, damaged or stolen.
Why take out camera insurance?
As noted previously, the main benefit is to protect you from the financial impact of your camera being stolen or damaged and to get you back up and running fast. Taking out a policy also gives you peace of mind and a safety net against unforeseen circumstances.
Is camera insurance the only cover required for my business?
If you are working as a photographer or a videographer in a professional capacity, it’s extremely likely that you’re going to need multiple levels of cover for your business. Camera insurance only takes care of your camera and any equipment specified in the policy. You should also look into other common types of insurance you might need, such as public liability and professional indemnity insurance.