Best Business Practices for Photographers [87]
Lastly, make a point of doing a biennial review to ensure that as you buy new equipment or take older equipment offline (disposing of it via sale, donation, and so on), you are not carrying items that are no longer assets of the business. Of course, a better tactic would be to add items (especially major ones) as you acquire them for maximum protection.
Liability Insurance
One of the often overlooked benefits of your camera/business policy is the liability insurance that is included in almost all policies. Typically, it's a $1 million policy. We've extended that for the work we do to $2 million, which is not a significant additional cost for the peace of mind it brings. Many organizations are now requiring this type of liability insurance before you can shoot for them or on their property.
Liability insurance covers you for most accidents or claims brought against you during a shoot (and usually en route to/from it). So if your light stand crashes into a $200,000 painting in a CEO's office and damages it, you're covered. These incidents sometimes occur, and liability coverage will limit your loss. I cannot imagine operating a business and going out on location without insurance. For many businesses—and certainly the government— you won't be allowed to shoot within their property or purview without proof that you do have insurance and include them in the coverage. So how do you do this? With a COI.
Certificates of Insurance
A COI is a certificate of insurance. It is almost always a single-page document that you carry with you (or usually fax/e-mail ahead of time) to the location where you are going to be shooting. The COI not only proves that you have insurance, but also what your limits are. Often a facility or venue where you are shooting will require you to list them as an additional insured, which gives them a right to be protected under your policy while you are there. In this instance, you'd ask for how they'd like to be listed on the COI, and they would provide their official corporate name or government entity. Then you'd simply e-mail or fax that information to your insurer, and they would generate the proper form and fax one to you and one directly to the location.
In one situation, I wanted to be doing photography at Niagara Falls during the Millennium celebration, which included fireworks. This required a tripod. A call to my insurance agent the day before—late on a Friday—was all that I needed to add the National Park Service's local division to the COI as an additional insured, and I was all set to make my photographs without any problems.
The federal government, many state governments, and even local governments will require a COI from you before you can shoot. There's a place for the information on the forms you'll fill out, as well as a requirement to attach the COI as a part of your permit application. Frankly, private-property owners should always require a COI, and although many do, the majority of them do not know to ask you for it. On more than one occasion, I've used the fact that I carry liability insurance as a tool to secure an assignment. During the dialogue with a client, when I am able to discern that I am bidding for an assignment, I'll make a point of bringing to the client's attention that a COI will most likely be needed, and not only can we provide that, but we do so on a regular basis. I encourage the client to inquire of the other photographers whether they can also provide a COI, knowing that many can't. Further, if they can, I come across as prepared and knowledgeable about the shoot requirements, so I have a leg up on my competition. However, on more than one occasion I have been told