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| p.1 #3 · Pro Liability Insurance? |
You really need both General Liability and Errors & Omissions coverage. You also need these coverages in amounts sufficient to cover you in the event of a claim. Your GL coverage will likely include cost of defense. You do not want to know how much a high dollar insurance law firm charges. Settlement money that the insurer pays may be reduced by the costs of defense paid if your policy limits are inclusive of any defense costs. You can be left holding the bag for the remainder of a judgement against you.
General Liability: You shoot a session in the park and a child trips over your gear. You shoot a session in your studio and a wall mounted light you forgot to safety latch comes down on a model's head. You want to shoot a session in a national park or a venue requires your proof of insurance... etc etc
Errors & Omissions: That bride's mother you mentioned wants your head on a platter and also wants you to pay to stage a re-shoot of the wedding out of your pocket. Mad Momma sues you and you have to pay to defend yourself even if you are right. A judge happens to agree with her. Ohhhhh nooooooo
Policy Limits: True story. Auto insured was driving drunk and hit a motorcycle with two riders. He hit and ran home to bed. Police had his license plate number and showed up at his door to escort him to jail. He was then sued by the injured parties for their damages. I saw his sober face when the news was presented to him that his coverage was for his policy limits of $50,000 and he needed to hire an attorney to provide his defense for the amounts far exceeding his policy. It was not a pretty picture...his home, car, bank accounts and all his resources were now at risk.
Moral: Insurance, you may not want to pay for it but you can't afford to be without it.