What types of insurance coverages do you have for your business?20275
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 WGAN Fan Club Member Irving, California |
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| I am new to this group and am just starting my business as a commercial photographer specializing in Matterport digital twins and 3D virtual tours. I should note that I have a 30-year background as a studio advertising photographer but as someone who worked for an employer. Now I am embarking on my own. My question for everyone is, what insurance coverages do you have for your business? Specifically, I have spent days studying what types of insurance coverage would be required for a new business like mine. It's a bit confusing, as insurers and agents have given me different answers. I plan to be a sole proprietor with no employees. I live and work in California (I mention this because different states have different insurance requirements.) I am not planning on starting off offering drone services—yet. That will come later. So far, I have learned that I will need at least: — General Liability insurance — An Inland Marine Endorsement (as I will be doing all my business at client locations) — Commercial Auto insurance Depending on the insurer as well as client requirements, I was told that may also need: — Professional Liability E&O insurance — Workers' Comp insurance (I won't have employees but is it possible that construction clients may require this to be permitted on a construction site? It's expensive.) — Business Owners Policy (BOP): Some insurers strongly suggest this. While I will do all of my work away from my home (my "office" at home consists of a desk, computer, and Pelican cases for my gear), some insurers or agents are really pushing this. On Workers' Comp, one agent explained that my personal health insurance policy may not cover any injuries that I could suffer if this happens at a business work site. I understand that Workers' Comp is typically required only if I have employees, but if this is true, having to include Workers' Comp with my other insurance coverage needs would really jack up the cost of doing business. Thoughts? One insurance broker offered me a very attractive quote for a BOP policy that combines General Liability, an Inland Marine Endorsement, as well as Professional Liability E&O Insurance. I know that commercial clients will want to see a Certificate of Insurance with multiple types of coverage. My question is, do you utilize all of these types of insurance? Are there any that you feel are not necessary? Or are there any insurance types that I may have missed? Finally, if there are particular insurance carriers and/or agencies that you may recommend, I welcome your thoughts. Thanks in advance for your help! |
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 WGANStandard Member Los Angeles |
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| Here are some pretty cost-effective options. Join PPA - Professional Photographers of America. There's really no requirement aside from paying a monthly membership fee of less than $30. With this membership, you can get General Liability as well as equipment coverage through their affiliate Lockton Insurance, which specializes in covering PPA members. Cost is very competitive. I've never had a claim, but they have a good reputation. Occasionally a client will require a COI (Certificate of Insurance) with the client named as an "additionally insured." Lockton handles these, usually same or next business day, no additional cost. It's included. GL and equipment coverage are separate policies through Lockton. Equipment can be covered for replacement value of specific items or you can carry a coverage amount, say $30,000 to cover whatever loss may occur. I've never had a claim, but I believe the payout may be higher when you list specific equipment pieces, purchase cost, serial numbers, etc. In California, if you need Workers Comp, definitely check out State Fund. This is workers comp group I believe set up by the state itself to simplify this coverage. I've used them for years and State Fund is both responsive and very competitive. There are services that offer drone insurance, either flat for whevenever you fly or by the day / event. I've needed this on a few jobs, but rarely. Presuming you're flying DJI drones, always elect for their company "fly-away" coverage as their repair / replacement service is quite good and reasonable. I'm pretty careful flying, but I've lost a drone in trees (irretreivable) and also had crash damage. DJI not only makes great affordable drones, they service their customers. Good luck with your endeavors. You're off on the right foot to be reading and posting here on WGAN. Dan is an ultimate "go to" source. He knows a lot himself, but through his audience you'll find answers to almost anything that affects virtual tours and the people who create them. |
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 WGAN ForumFounder & WGAN-TV Podcast Host Atlanta, Georgia |
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| @DriveIndustries Thank you for your detailed question. @Home3D Thank you for your detailed reply (and kind words). @DriveIndustries While we wait to see if other WGAN Forum members have additional thoughts, I am going to post a reply from ChatGPT o1-preview (to your questions. Best, Dan |
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 WGAN AI Assistant for @DanSmigrod Atlanta, Georgia |
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| ChatGPT o1-preview Prompt by @DanSmigrod Imagine that you are subject matter expert on: insurance for real estate photographers, including but not limited to -- General Liability insurance; An Inland Marine Endorsement; Workers' Compensation Insurance; and Commercial Auto insurance -- particularly in California. You are also an expert on insurance offered by: Professional Photographers of America (https://www.ppa.com/benefits/insurance) Before you answer the questions in the following We Get Around Network Forum post, please provide an outline identifying the questions that need to be researhed; and how you will research each question to suggest answers. After that, I will ask you to then research the answers: [@DriveIndustries post] ChatGPT o1-preview Reply Outline of Questions to be Researched and Research Methods 1. Required and Recommended Insurance Coverages for a Sole Proprietor Commercial Photographer in California -- Research Method: Review California state regulations and industry standards for commercial photographers. Consult authoritative sources such as: - California Department of Insurance for state-specific requirements. - Professional Photographers of America (PPA) for industry best practices. - Legal resources and small business guides specific to California. 2. Necessity of Workers' Compensation Insurance for Sole Proprietors with No Employees in California -- Research Method: Examine California labor laws regarding Workers' Compensation for sole proprietors: - Review official guidelines from the California Department of Industrial Relations. - Investigate scenarios where clients, especially in construction, may require this insurance. - Consult legal advisories on client-imposed insurance requirements. 3. Coverage of Personal Health Insurance for Work-Related Injuries at Business Sites -- Research Method: Analyze typical exclusions in personal health insurance policies: - Review policy documents from major health insurers. - Consult with health insurance experts or brokers. - Reference California health insurance regulations concerning work-related injuries. 4. Necessity and Benefits of a Business Owners Policy (BOP) for Home-Based Businesses Operating at Client Locations -- Research Method: Assess the components and advantages of a BOP: - Research what coverages a BOP includes (e.g., property, liability). - Determine applicability to businesses without significant on-premises assets. - Compare costs and benefits with standalone policies. 5. Common Insurance Requirements from Commercial Clients and Certificates of Insurance -- Research Method: Identify typical client expectations: - Review standard contracts and insurance clauses in the photography and construction industries. - Gather insights from industry forums and professional networks. - Consult resources on Certificates of Insurance and their usual components. 6. Additional Insurance Types to Consider for a Commercial Photographer -- Research Method: Explore other relevant insurance options: - Look into Cyber Liability Insurance for digital data protection. - Evaluate Equipment Insurance beyond Inland Marine Endorsements. - Consider Umbrella Policies for extended liability coverage. 7. Recommendations for Insurance Carriers and Agencies in California -- Research Method: Compile a list of reputable insurers: - Consult the PPA and other professional associations for endorsed providers. - Review customer feedback and ratings on insurance companies specializing in photography businesses. - Verify insurers' credentials and financial stability through ratings agencies. 8. Applicability of Professional Liability (E&O) Insurance for Digital Twin and Virtual Tour Services -- Research Method: Determine the relevance of E&O insurance: - Understand what E&O covers in the context of photography and digital services. - Analyze risks associated with errors, omissions, or professional negligence. - Review case studies or legal precedents involving similar businesses. 9. Cost Management Strategies for Insurance in a New Business -- Research Method: Identify ways to optimize insurance expenses: - Investigate bundling options with insurers for multi-policy discounts. - Explore benefits of joining professional organizations like the PPA for group rates. - Consider adjusting coverage limits and deductibles to balance cost and protection. By systematically researching these questions using authoritative and industry-specific sources, we can provide well-informed recommendations tailored to the needs of a sole proprietor commercial photographer in California. --- ChatGPT o1-preview Prompt by @DanSmigrod Now please make well-informed recommendations tailored to the needs of a sole proprietor commercial photographer in California. ChatGPT o1-preview Reply Recommendations for a Sole Proprietor Commercial Photographer in California 1. Required and Recommended Insurance Coverages -- As a sole proprietor commercial photographer in California, the following insurance coverages are essential: -- General Liability Insurance: Protects against third-party claims of bodily injury, property damage, and personal injury occurring on your business premises or as a result of your operations. -- Inland Marine Insurance: Covers your photography equipment while it's in transit or used off-site at client locations, which standard property insurance may not cover. -- Commercial Auto Insurance: If you use your personal vehicle for business purposes, personal auto insurance may not cover accidents that occur during business activities. -- Professional Liability (E&O) Insurance: Protects against claims of negligence, errors, or omissions in the professional services you provide, especially important for digital twin and virtual tour services. 2. Necessity of Workers' Compensation Insurance for Sole Proprietors with No Employees -- In California, Workers' Compensation Insurance is generally not required for sole proprietors without employees. However, certain clients, particularly in construction, may require it as a condition for working on their sites. To comply with such client requirements and protect yourself from potential medical expenses due to work-related injuries, consider obtaining a Workers' Compensation policy. 3. Coverage of Personal Health Insurance for Work-Related Injuries -- Personal health insurance policies often exclude coverage for injuries sustained during work-related activities. Without Workers' Compensation Insurance, you may be responsible for all medical expenses resulting from on-the-job injuries. Verify with your health insurance provider about exclusions and consider obtaining Workers' Compensation Insurance for comprehensive protection. 4. Necessity and Benefits of a Business Owners Policy (BOP) -- A BOP combines General Liability and Property Insurance into a single, cost-effective package. Even if you operate from home with minimal physical assets, a BOP can offer additional coverages such as business interruption insurance and liability protection, which may be more economical than purchasing separate policies. 5. Common Insurance Requirements from Commercial Clients and Certificates of Insurance -- Commercial clients often require proof of the following insurance coverages: -- General Liability Insurance: To protect against third-party claims. -- Professional Liability Insurance: To cover professional errors or omissions. -- Workers' Compensation Insurance: Even if not legally required, some clients may insist on it. -- Certificate of Insurance: A document verifying your coverage, often with clients named as additional insureds. -- Being able to provide a comprehensive Certificate of Insurance can be crucial for securing contracts. 6. Additional Insurance Types to Consider -- Consider the following additional coverages: -- Cyber Liability Insurance: Protects against data breaches and cyberattacks, important when handling digital files and client data. -- Umbrella Insurance: Provides excess liability coverage beyond the limits of your existing policies. -- Equipment Breakdown Insurance: Covers the cost of repairing or replacing equipment due to mechanical failures. 7. Recommendations for Insurance Carriers and Agencies in California -- To find suitable insurance providers: -- Professional Photographers of America (PPA): Offers tailored insurance options for photographers, including member discounts. -- Specialized Insurance Brokers: Look for brokers who specialize in photography or creative industries. -- Reputable Insurance Companies: Research companies with strong financial ratings and positive customer reviews. -- Always compare quotes and coverage details from multiple providers to find the best fit for your needs. 8. Applicability of Professional Liability (E&O) Insurance for Digital Twin and Virtual Tour Services -- Given the technical and detailed nature of digital twin creation and 3D virtual tours, Professional Liability Insurance is highly recommended. It covers: -- Claims of professional negligence or failure to deliver services as promised. -- Legal defense costs in case a client alleges that your work caused them financial loss. -- This coverage is essential for protecting your business against potential lawsuits related to errors or omissions in your specialized services. 9. Cost Management Strategies for Insurance in a New Business -- To manage and reduce insurance costs: -- Bundle Policies: Combining multiple coverages under one insurer may qualify you for discounts. -- Join Professional Associations: Membership in organizations like PPA can provide access to group rates and specialized insurance programs. -- Adjust Coverage Limits and Deductibles: Opting for higher deductibles can lower your premiums, but ensure you can afford the deductible in the event of a claim. -- Regularly Review and Update Policies: As your business grows, adjust your coverage to match your current needs, avoiding over-insurance. In conclusion, securing the appropriate insurance coverage is crucial for protecting your business and meeting client expectations. While the initial investment may seem significant, the protection it offers against potential liabilities and financial losses is invaluable. Tailor your insurance portfolio to include General Liability, Inland Marine, Commercial Auto, and Professional Liability Insurance at a minimum. Evaluate the necessity of Workers' Compensation and a BOP based on client requirements and your business operations. Always consult with a licensed insurance professional familiar with California regulations and the photography industry to customize your coverage effectively. |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| @DriveIndustries Any of the above helpful? Hopefully, other WGAN Forum members will reply to your post. I could imagine that the reply from California-based @Home3D about PPA is super-helpful. Best, Dan |
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| I just went through Package Choice. I looked at PPA, but found their E&O verbiage confusing for me. I priced probably 3 or 4 different places and it always seemed like something was missing or not offered such as E&O or drone coverage. Some pros I found were all my property including gear and home equipment are covered. My drone is covered. I have E&O in case a Realtor tries to come after me over loss commissions. I just brought on a assistant, and my property and liability covers any job they do as well. They'll produce a Certificate of Insurance as well within 24 hours. Oh, my policy also covers any gear I rent as well. |
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WGAN AI Assistant for @DanSmigrod Atlanta, Georgia |
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| @Buster6070 That's great! Thanks for sharing the Package Choice website. I asked ChatGPT-1o if Package Choice changed its conclusions. Below is the reply Dan --- Considering PackageChoice as an Insurance Option Thank you for sharing the website https://www.packagechoice.com/. This platform offers specialized insurance solutions tailored for photographers and videographers. Here's how this information might influence the previous recommendations: .1. Tailored Insurance Packages for Photographers -- Comprehensive Coverage Options: PackageChoice provides insurance packages that bundle essential coverages such as General Liability, Equipment Protection (Inland Marine), Professional Liability (E&O), and more, specifically designed for professionals in the photography industry. -- Simplified Policy Management: By offering multiple coverages under one policy, PackageChoice can simplify the insurance process, making it easier to manage renewals and claims. .2. Potential Benefits over Standard Insurance Providers -- Industry-Specific Expertise: Insurance providers like PackageChoice understand the unique risks and needs of photographers, which can result in more appropriate coverage and potentially better rates. -- Coverage for Specialized Equipment and Services: They may offer coverage options specifically for equipment like cameras, drones, and for services like digital twin creation and virtual tours. .3. Impact on Previous Recommendations -- Enhanced Options for Equipment Coverage: Considering PackageChoice could provide more comprehensive equipment protection, possibly including worldwide coverage and protection against a wider range of risks. -- Customized Professional Liability Coverage: They might offer Professional Liability Insurance tailored to the specific services you provide, such as errors in digital imaging or virtual tour creation. .4. Consideration of PackageChoice in Selecting an Insurance Provider -- Comparison with Other Providers: Including PackageChoice in your list of potential insurance providers can give you more options to compare in terms of coverage details and costs. -- Integration with Professional Associations: Check if PackageChoice offers any discounts or benefits for members of professional organizations like the Professional Photographers of America (PPA). .5. No Change in Fundamental Insurance Needs -- While PackageChoice offers specialized solutions, the fundamental insurance needs previously discussed remain the same. You still need to secure appropriate coverage for General Liability, Professional Liability, Equipment Protection, and possibly Workers' Compensation and a Business Owners Policy, depending on your specific circumstances and client requirements. In summary, the introduction of PackageChoice as an insurance option does not change the fundamental recommendations but provides a potentially valuable avenue to obtain the necessary coverages in a package tailored specifically for photographers. It could simplify the process of securing comprehensive insurance and might offer competitive rates due to its industry focus. I recommend reaching out to PackageChoice to inquire about their policies, coverage options, and rates. Compare their offerings with other providers, considering factors such as coverage limits, exclusions, premiums, and customer service. This will help you make an informed decision that best suits your business needs. Always consult with a licensed insurance professional to ensure that the policies you choose adequately cover your risks and comply with California regulations. |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| @Buster6070 I let Daniel Usher at The Package Choice Team know about your insightful post in the WGAN Forum. Below is his reply. Dan --- Hello Dan, Appreciate you reaching out and sharing that one of our valued clients gave us high marks on your website. For over 25 years, we've been dedicated to protecting photographers and videographers by covering their equipment and liability needs. Currently, we serve more than 6,000 professionals. Our program details page outlines the key coverages included in our policies. As an independent agency, we have established relationships with a wide range of insurance providers, allowing us to present multiple options to our clients. This gives them the flexibility to choose the coverage that best suits their needs and business. https://www.packagechoice.com/program-details/ Have a pleasant weekend! Best, Daniel Usher The Package Choice Team packagechoice@hillusher.com Hill & Usher Insurance & Surety 3033 North 44th Street, Ste #300 Phoenix, AZ 85018 Phone: 866-977-4725 Fax: 877-956-4418 Email: daniel.usher@hillusher.com |
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WGAN Fan Club Member Irving, California |
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| Dan, @Buster6070 and ChatGPT(!!): Thank you!! Your thoughts are most helpful. I have spoken with the folks at Package Choice / Hill & Usher as well. I was most impressed with their recommendations and am seriously considering their proposal at this time. One of the important factors I have been trying to clarify is what types of insurance coverage I really need. Researching a variety of sources, I have seen photographers relying only on a General Liability policy to cover the basics and their equipment. But I realize that Errors and Omissions (Professional Liability) coverage could be highly beneficial, an Inland Marine Endorsement (to cover equipment loss while on location), may be necessary. In addition, Commercial Auto coverage may be a requirement, as a claim against my Private Passenger coverage could be refused as the damage or loss would relate to a job, not private use of my car. Of course, that adds to the cost. But this may be cheap compared to the cost of finding out I'm not covered. The Package Choice Team suggested a Business Owner's Policy (BOP) that in their proposal, rolls up General Liability, Inland Marine, and Professional Liability all in one policy. That is something I am seriously considering. I welcome anyone else's suggestions and experience. And I hope my questions will benefit everyone in this forum. Thanks again! |
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WGAN Fan Club Member Irving, California |
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| Dan, per your request and suggestion in response to the email (below) that I sent you earlier today, I have reproduced the email below for the WGAN members to see. I hope that this will help everyone. Dear Dan, I can’t thank you (and your pal, Chat GPT) enough for the answers that you and members of WGAN have provided so far regarding business insurance needed for photographers specializing in digital twins for their business. I am just going through the thread now with keen interest. Your embrace of AI really impresses me. I want to get a Chat GPT subscription as soon as I have the spare change. It is quite impressive. You are an exemplar of how to harness generative AI to help find answers and increase productivity. While speaking with various P&C insurers about my needs, I received a comprehensive quote from Hill & Usher (Package Choice) and spoke at length with Mr. Richard Reyes of the company about my needs. He was most helpful and has provided me with a Business Owners’ policy quote that I’m seriously considering. (I will likely get a Commercial Auto insurance policy from AAA of Southern California. They insure my Private Passenger Auto, which I would then switch to Commercial Auto. Their quote—$1,902.00 for one year—is much lower than others. Separately, I am looking at the California State Workers’ Compensation Fund ["State Fund”] for Worker’s Compensation should I need it.) Why this matters to you and WGAN: In the course of speaking with Mr. Reyes, I found him to be quite knowledgeable about his professional photographer clients and their equipment, including Matterport. He mentioned without my promoting him that we would love the opportunity to participate in a webinar or podcast with you and the WGAN membership. I think that would be a fantastic idea and could be most educational to your membership. Here is the contact information for Mr. Reyes: Richard Reyes 866-977-4725 ext 134 602-667-1850 CA License 0C73815 PackageChoice Insurance Program 3033 North 44th Street Ste 300 Phoenix, AZ 85018 packagechoice@hillusher.com Again, thank you so very much for your help! I hope that speaking with Mr. Reyes may be of help to you and the WGAN members. Sincerely, Brian Teeter Director, Real Estate Media Drive Industries Design Group Irvine, CA |
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| general and professional liability | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| @DriveIndustries Much thanks for sharing your email. There's likely info in your letter that is helpful to the WGAN community (and thank you again for your kind words). I just reached out via email to Richard Reyes to invite him to be my guest on WGAN-TV Live at 5. Best, Dan 5:40 pm ET Monday, 23 September 2024 |
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