VIDEOGRAPHY INSURANCE: Coverage, Types & Cost

There are a lot of hazards associated with running a videography business, so getting business insurance is crucial to safeguarding your finances. Videography insurance can replace pricey camera equipment in the event of theft or cover medical expenses for hurt workers.

This article will give you an understanding of how videography insurance operates in order to select a suitable policy that meets your unique demands.

What is Videographer Insurance?

Videography insurance is a specific type of small business insurance designed to protect videographers and their companies from liabilities and dangers associated with shooting pictures. By covering legal issues, injuries, and equipment damage or loss from theft, accidents, and natural disasters, small company insurance provides peace of mind and financial security.

For example, a client brought a lawsuit alleging that you violated a contract. In this scenario, your small company policy’s general liability insurance would pay for your legal fees as well as any possible settlement or verdict.

Who needs a Videographer Insurance?

Videography insurance helps to shield your company from unforeseen expenses. Professionals in videography who would profit from business insurance include:

• Event videographers
• Freelance videographers or videographers
• Nature videographers
• Passport videographers
• Operators of videography studios
• Portrait videographers
• School videographers
• Sports videographers
• Wedding videographers

Videography Insurance Coverage

These three types of coverage are bundled together in a company’s insurance.

#1. General liability insurance.

In the event that your videography company is held liable for unintentional accidents or property damage, this insurance offers financial protection. In the event that a lawsuit is necessary, it also pays for legal fees. For example, in the event that a guest trips over your camera equipment and gets hurt during a wedding picture shoot, your general liability coverage may cover the cost of their medical and legal bills.

#2. Business property insurance.

When an incident covered by the policy, such as a tornado, causes damage to a business’s physical property or equipment, this insurance covers it. It safeguards both rented and owned gear, such as backdrops, cameras, memory cards, studio chairs, and company documents.

#3. Business income insurance.

This part of a business owner’s policy, also referred to as business interruption coverage, helps maintain your company in the event that unanticipated events, like a fire, force you to close.

What’s Not Covered by Videographer Insurance?

A videographer’s small business insurance does not cover the following scenarios:

#1. Flood damage to a business.

You need a separate commercial flood policy to protect yourself from losses caused by flooding.

#2. Earthquake damage to your business.

You will require a different policy to cover earthquake damage.

#3. Intentional or fraudulent acts:

Small business insurance typically does not cover damage resulting from deliberate or fraudulent activity.

#4. Unlawful dismissal.

Claims like wrongful termination may not be covered by small business insurance if there is no employment practices liability coverage.

Therefore, it’s critical to understand these exclusions and to think about getting supplemental or specialty insurance to fill up any gaps.

How much does Videography Insurance cost?

Best Videography Insurance

#1. Progressive:

Progressive has been operating in the insurance industry since 1937. Although you may also get a quote online, Progressive also allows you to work directly with an agent to tailor your business insurance for videography to your needs. In addition to being a full-service insurance provider with a solid track record of fulfilling its commitments, Progressive has an A+ financial strength rating from AM Best.

Pros

• Long history of being a respected American insurance provider
• You can acquire a quote online or from a Progressive representative.
• There are several choices for coverage.

Cons:

• Less policy flexibility (no one-day or shoot-based coverage available)
• To receive a free quote, a substantial amount of personal and business information must be provided.

#2. Thimble:

Among videography insurance providers, Thimble stands out since it allows you to get coverage for a specific assignment or, if you’d like, on a monthly basis. With this option, you may customize each coverage period to the specifics of the project and pay for videography insurance only when necessary.

Pros

• Purchase monthly or job-specific coverage.
• You can stop or resume your coverage at any moment.
• Every policy includes extensive protections.
• Excellent mobile application

Cons:

• It is a recent business (established in 2016).
• There is no coverage offered for business real estate.
• There is no way to deal directly with an insurance agent.

Since you don’t have to pay for a year’s worth of coverage—or even just a month’s worth—at once, we selected Thimble because of the flexibility of their videography insurance plans. 

#3. biBERK:

We selected biBERK because of how easily their clients may select policy inclusions according to their needs. Although biBERK isn’t exactly a household brand, you should be aware that it’s a Berkshire Hathaway company.

Pros

• Make a policy with the precise options for coverage that you choose.
• A section of Berkshire Hathaway Insurance Group, led by Warren Buffett
• Easy-to-find online quotations

Cons:

• No option to buy insurance for certain occupations

The ability to create a policy with the precise coverage options you require is what led us to select this provider as the best for policy customization.

#4. Hill & Usher:

Hill & Usher provides photographic insurance tailored to the needs of graphic designers, web designers, and videographers. Their policies cover the contents of the studio as well as your camera gear, liabilities, and other things.

Pros:

• Package Choice is an insurance plan designed with studio owners in mind.
• Online, you can start creating a free quote.
• Options for complete coverage are included.

Cons:

• Third-party insurers underwrite the policies.
• There is no choice but to buy insurance for certain occupations.

#5. The Hartford:

The Hartford has complete coverage for employees of videography studios who may sustain workplace injuries. Hartford is a respectable insurance provider that you should take into account, whether you are a lone entrepreneur or have employees.

Pros:

• There are other possibilities for coverage, such as workers’ compensation and professional liability for employees.
• Long-standing insurance company renowned for its excellence and stability
• You can work with an agent directly or obtain a quote online.

Cons:

• No option to buy insurance for certain occupations

Whether you operate alone or with a team, The Hartford can be a fantastic choice for videography insurance. However, what really made them stand out in our rating were their superior employee coverage options, including workers’ compensation and professional liability. In addition to working with an agent over the phone or in person to personalize your coverage, you may obtain a free quotation online. 

#6. BWI Fly:

You might require a specific insurance policy that covers the use of drones for business reasons if you engage in drone videography. That is just what BWI Fly offers, with liability and physical property coverage with up to $25 million in limits.

Pros:

• Invest in specialized commercial drone insurance.
• Make your policy work for you.
• Increased coverage limitations of up to $25 million

Cons:

• It covers only drones and excludes additional equipment.

#7. Full Frame Insurance:

videographers and videographers may get coverage from Full Frame Insurance for as little as $59 per event or $129 annually. Regarding liability claims, there is no deductible and quick coverage.

Pros:

• Invest in reasonably priced work-related or annual insurance.
• Make your coverage unique to your requirements.
• 24/7 policy document access

Cons:

• It is available only in 44 states.
• A few choices for coverage are provided.
• It is a recent business with few reviews available online.

We chose them for our ranking based on the affordability of their policies, although you do only get basic coverage in return. 

Best Wedding Videography Insurance 

Being a wedding videographer carries some risk, but it can also be quite rewarding. Numerous things can go wrong at a wedding, including malfunctioning memory cards, trips and falls, equipment damage, and property damage. Your company might have to pay tens of thousands of dollars or more to settle claims if you don’t have insurance for wedding videographers. 

Full Frame Insurance allows you to safeguard your videography business with up to $2 million in general liability coverage by purchasing one of Full Frame’s annual packages. Additionally, you may design a unique insurance plan for your company with a variety of options for errors and omissions insurance, video equipment insurance, and more.

Why do videographers need insurance?

There are various reasons why videographers need business insurance:

• When you’re on a shoot, one of your cameras breaks.
• Your rigging gear causes an injury to a guest on a set.
• A client is hurt when a prop you’re using for filming falls on them.
• While you’re on-site, your expensive equipment—such as tripods, lighting, and cameras—gets stolen from your van.
• The tablet that you use to create invoices and make reservations is knocked over and broken.

Best Freelance Videographer Insurance

Full Frame Insurance is the best videographer insurance, which can shield your company from the out-of-pocket costs of claims in the unlikely event that you are ever sued.

What insurance do I need as a videographer?

General Liability is liability coverage for videographers to guard against workplace mishaps and litigation. For instance, someone trips over your tripod and is hurt while you’re filming a wedding. This coverage pays for their medical costs.

What is video production insurance?

Video production insurance is coverage that guards against injuries and property damage to third parties, as well as advertising injuries. A BOP covers your video equipment in addition to general liability and commercial property insurance.

Do video editors need insurance? 

Video editors need content and equipment insurance, which guards your equipment against theft, damage, and other mishaps.

How do I price myself as a videographer? 

#1. Your Time: What Is It Worth?

You must be aware of the value of your time if you embark on a project and commit hours, days, or even weeks to a client.

Your time is a symbol of all the effort you have already put into mastering your trade and expanding your skill set, as well as all the opportunities for additional work, growth, and recreation that accepting a job has left open.

#2. How Much Does Your Camera Cost?

Should you accept video assignments that necessitate you bringing your own equipment and camera, you should factor those expenses into your pay as they are costly. Simply looking up the cost of renting a particular camera from an internet rental house or agency is one of the fastest and most accurate ways to establish a fair price to charge for your cameras.

#3. How Much Did You Pay for Your Equipment?

You’ll also need to locate a price that accounts for the other equipment you plan to include in addition to the camera. You have every right to include the cost of the equipment needed if your client requests specific things, such as audio recording or expert lighting setups. Set the price as though you were planning to rent it.

#4. Calculate Your Travel and Expenses

When it comes to professional video production, leaving out items like travel and expenses is arguably the worst mistake one can make. There’s a lot of pressure on newly established professionals to labor for little or no pay. Cutting corners at your own expense won’t benefit you in the long term; nevertheless, in some regions (and in some instances), this may just be the way of the world.

#5. The Cost of Editing

Pricing your time at the computer is crucial if you’re working on a project that involves both filming and editing or only editing. When numerous editing tasks are charged a baseline amount for a “video edit,” the outcomes are regrettable. Note that it’s ideal to charge on an hourly basis.

Do videographers own copyright? 

Copyrighting one’s work is one of the most important things a videographer can do to protect themselves. Anything you make can be protected, but if you register it with the US Copyright Office, you have even more protection, as the video is now formally and legally yours.

Is being a videographer lucrative? 

Since videography is becoming more common in everyday life, video content has taken over social media platforms and advertising campaigns. For experienced videographers looking to make a living off of their craft, the increasing market for interesting and high-quality video content offers attractive options.

How much does E&O insurance cost for a film? 

Businesses that deal in photos and videos typically pay $639 a year, or $53 per month, for professional liability insurance. This insurance, also referred to as errors and omissions insurance, shields companies against the financial burden of customer lawsuits alleging that work was subpar, careless, delivered late, or never done at all.

Do videographers sell raw footage?

They might try to market it to you as an “add-on.” Before anything is shot, most creative filmmakers—wedding or not—make this decision on their own. In the production industry, this kind of material is usually available for purchase or licensing at a price separate from the project for which the videographer was employed.

Is it illegal to edit a copyrighted video?

Copyright violations can still occur even after content has been edited. The edited or altered video may still violate the rights of the original artist if it can still be identified as the copyrighted work. Using work that is in the public domain, original, or licensed is always the safest course of action.

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References:

Investopedia

Forbes

Peerspace