Aren't both PPA and Photo.net just referring to a third-party insurer that they've endorsed and brokered a deal with? I know ASMP's insurance is that way...in fact, I believe they use Hill & Usher (who is my insurance agent) who will in turn be brokering other company's insurance offerings. I have The Hartford for my general liability, personal injury, rental vehicle and completion bond and whatnot, Fireman's Fund for equipment loss/damage - that's the package that Hill & Usher felt best fit my needs.
Maybe it's worth your getting quotes directly from insurance agents to see which offering makes the most sense for you?
Get quotes from Hill & Usher and Tom Pickard. Or any of your local insurance agencies that offer business insurance. Prices and coverage vary quite a bit. Make sure you are comparing apples to apples as far as coverage goes.
You can be sued for just about whatever someone wants to sue you for - the question is whether you want to deal with a lawsuit or would rather carry insurance that would cover the expense of restaging a function for photos and offer that as one of your services.
Your contract will cover (or carry disclaimers for) whatever you specify in it - that's up to you. That won't stop someone from suing you, necessarily, it'll just give you a better defense in the event of a lawsuit.
Also, as a wedding photographer, you should be looking at a lot more than just insuring your equipment. You should carry general liability insurance (damage to venues), personal injury (damage to a guest at an event), worker's comp (injury to an assistant or second shooter), etc. It's really in your best interest to speak with several insurance agents, describe your business and have them present you with the option that best fits your needs.
I pay about $2200/year in insurance, but I'm carrying a lot more coverage than you are. $1mil general liability, personal injury, rental vehicle liability, $50,000 rental equipment loss/damage, $50,000 owned equipment loss/damage, $25,000 office equipment loss/damage, international loss/damage coverage, etc. Many of the locations that I work in won't even let me in the door without $1mil general liability...I'm frequently calling The Hartford to have them issue insurance certificates with "additionally insured" provisions for client locations.
My equipment insurance policy is about $1100/year alone. I'd suggest that you bulk yours up to include any equipment you might plan on buying in the next year as well as a reasonable amount of coverage for rental equipment.
Jim, it's hard to get better advice than from Simon, he's a real Pro when it comes to CYA & much much more including organizing, accounting, everything really.
But you never did say what type of shooting you are going to be doing. Your question was about your equipment. Do you shoot flower arrangements? Pets? Commercial assignments? On Location Corporate? It does matter what you need to cover.
