Marketing Monday – Do You Have the Right Insurance?

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It’s Marketing Byte 113 – Your Gear and Insurance

In 1956 an American computer scientist, Werner Buchholz coined the word “bytes”.  In trying to define what I want to do with this new series, “marketing bytes” is the perfect description. Along with other writers and educators in our industry we want to give you short concise concepts you can work on to build a stronger business in photography. 

Illustration Credit:
© Welf Aaron – Fotolia.com

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Why would you risk your business being crushed by a thief because you didn’t pay attention to having the right insurance?

I know this isn’t directly tied to marketing, but you’ll have to work twice as hard to market your business if your gear is stolen and you have to raise the funds for a new camera because you weren’t adequately insured!

Last week I had a conversation with a relatively new photographer who didn’t realize her home insurance didn’t cover her gear, now that it’s being used for commercial purposes. Later in the day, I asked about insurance to a good buddy and seasoned veteran, only to learn it’s been years since he updated his policy.

This is the easiest challenge in your entire business to fix – it just takes a phone call to your insurance agent to find out exactly what is and isn’t covered. Then you need to take the next step and get the right insurance. Personally I’m a big fan of PPA’s program. Their insurance package is part of your annual membership, so look at it this way: You’re either getting free insurance with your membership or free membership with your insurance. Either way, you cut out one serious variable in the challenges of running a business.

And here’s the real bottom line…STOP BEING STUPID AND IRRESPONSIBLE WITH YOUR DREAM! Every year I hear at least one story of somebody who’s dream is on hold until they replace gear that was lost or stolen. Then there are the horror stories of lost images and the challenges of indemnification.

Don’t be penny wise and dollar foolish – make sure you’re insured NOW and don’t risk lost gear totally disrupting your business and dream to establish a solid reputation as an artist in your community!

Illustration Credit: © Michael Brown – Fotolia.com
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