You know the feeling. The sun is setting exactly as you’d imagined, the couple has finally relaxed to the point of getting natural smiles, and all you need is to move six feet closer for the winning shot. Carefully, you wade into the water, telling yourself that you really didn’t like your shoes anyway. It’ll all be worth it…until you hit a rock and slide under the water, camera and all.
What now? Since most photographers carry thousands of dollars of equipment, the loss–emotionally and financially–is catastrophic.
What’s the answer? In one word: insurance.
Regardless of how long you’ve been a photographer or what kind of equipment you use, investing in the right type and amount of insurance is essential.
Determine whether or not you are considered amateur or professional. Understand, this is less about skill and more about income. Here’s the simple math. If more than 50 percent of your income comes from your photography work, you are professional. With this knowledge, you can quickly assess what type of insurance you need.
Determine what you need to insure. Backdrops and softboxes–although paramount to your production–may cost you more to insure over time than to replace. When deciding what to insure, it is essential to determine an item’s replacement cost. If an item costs one hundred dollars, for instance, it wouldn’t make sense to pay 10 dollars in insurance every month to cover it. You’d be wiser to put that 10 dollars in the bank for … Read the rest