Public Liability Insurance?

I'm wondering if I do need public liability insurance, and if so how much? Options with AON are $5M, $10M and $20M.

Situation is:
My photography business is only a weekend/after work thing at this point as I still have a day job as an IT Tech at a School. I do baby, children and family photography mainly. Some at my house (garage studio for bigger shoots, and bedroom studio for smaller shoots like babies), and some at the client's house. I may do some on-location shoots at the beach or in a park in the future.

So can anyone provide advice whether I need PL insurance (I'm thinking I probably do) and how much cover I need... (thats the main part I'm unsure of how much I would need)

 

The amount is generally dictated by a venue.

The standard in Syd used to be 10million but now quite a lot of venues require 20million.

But the price difference between the two of them is minimal.

Its $475sh for me for 20million, covering myself and anyone that is working for me.

It also depends on the clients you have, if you are going into their homes then I would get it. If you are having them come to your home/studio then a little different.

The technical answer is 'Yes'.

The personal answer is 'It's entirely up to you'.

 

As deftone said it does depend on your specific situation to a degree.

A slightly different alternative to the normal PL Insurance brokers could be an association like NAVA (National Association for the Visual Arts). I recommend it to some artists I work with from time to time as it's generally the cheapest. They have a membership that includes PL insurance for your "studio" and exhibiting space etc.
To reiterate, the type of policy you get does depend on your situation, so just make sure you double check the conditions before signing anything.

 

I have $5 million PLI and I only do paid jobs occasionally. It's mainly to have myself covered in case something does happen on a photoshoot. Think it was around $250.

 

I like the idea of the association insurance... that sounds like a good option... and probably will be cheaper... plus get other membership benefits...

 

If it's not allowed, that's cool, but can people perhaps suggest which companies are worth looking at for Public Liability Insurance?

Regards

Des

 

i have my 20mil PLI with RACV, i think it costs me 90 a month but that also includes $20k worth of business asset insurance, for computers n stuff. I have my camera gear insured with AON. dont ask me why i didnt get PLI with them too LOL

 

if your running any sort of business be it part or full time you'd be a fool to do it without PLI if some one trips on your light lead they could sue and it would be game over.

 

Insurance is for the paranoid.

Depends how paranoid you are.

 

no it's for the prepared

 

It's for those who are easily scared, excessively clumsy or who can't plan their situations. A sucker is born every minute, why not sell them "peace of mind"

 

Or when it's legally required...

 

Possibly the dumbest thing I've ever heard on OCAU...and I've been here since the beginning.

Of course you need PLI. I recently read (on the interwebz) that we are a more litigeous society than America...all it takes is a simple case of bad luck (nothing to do with clumsyness or planning) and you could lose your buisness and your future, not to mention being responsible for someone else's medical bills that you just can't pay. Don't let pride get in the way like the guy above, accept that accidents happen and that humans can sometimes make mistakes too.

 

I take it you don't own your own business, some one tripped on my premises and fractured thier wrist no fault of anyone just spilt water cost $25k if you have that kind of cash lying around then go for it.

 

$5M should be enough for your purposes. I'm with PPIB.

For those who think insurance is a scam, it's a small price to pay for peace of mind.

 

Does anyone know of any stories where someone's insurance had to pay out over 5 mil? Would have to be a pretty colossal f%$kup I'm thinking.

 

Some venues require 10 or 20m to shoot there, as opposed to actually paying out over $5m if required.

 

I know someone who fucked up a electron microscope.

 

Back to the pond.