Blog #5 How much does Insurance for Videographers cost?
This year, I registered my video business and went about seeking insurance. I wanted to protect my business against theft, damage and anything that could go wrong. I did a quick search online for insurance companies and went about enquiring. That was when things started to become difficult.
Here are some things I learned about getting an insurance quote in Ireland and how you can oversome some of the potential pitfalls:
The big companies don’t insure videographers. After getting off the phone with a number of agents, they told me that they don’t insure video people. They simply have no interest in the market, it’s not worth it to them. The monetary amounts involved are small and they are big companies looking for big fish. The process of calling and asking insurance companies for a quote was slow and painful. Many agents didn’t reply to me and others responded with disinterest when I told them what I do. Shame on me for trying to give them money!
When I was on the phone with an agent from one of the big firms, the young lady I was speaking to helped me out and actually recommended to me a specialised insurance company, for “creative“ businesses. They specialise in people like me: videographers, photographers, performers,etc. I don’t know how she found this insurance business but she did and thus recommended me to enquire at EventInsure. I ended up buying insurance at EventInsure because it was the cheapest package I could find, at €292.50 for the year. These are the types of companies videographers need to seek out.
In the end, there were only 2 quotes I could acquire. One was from EventInsure and the other was from Bryan Mullins Insurance Brokers, which was at a similar price. Many agents would say no instantly and others would get my details and then never respond. A lot of agents tend to be cocky and disorganised. Others are great.
Insurance doesn’t cover everything. In fact, I have a long list of “excluded activities“ on mine. They range from paintballing to children’s activity centres. So if you are filming motorbikes or foam parties, insurance won’t cover you and is worthless to your business.
Experience brings the quote dramatically down. When you are asked to fill in the number of years you have been trading/established/qualified, the number you put in can bring your quote down by hundreds of euros. I did a test and tried it at 0 years and 4 years. The difference was over €300, so count up all the years of experience you have!
Excluded Activity List
6. Buying insurance was easy. I bought it online and was instantly sent a copy over email of my policy, invoice and breakdown of fact. The fee was broken down into a premium, Government levy of 5% and an administration fee. It was pretty affordable but the chances of me making a claim are slim.
That’s it for insurance. It was a learning experience for me and I hope this can make the process a bit easier if you are looking into it for your business.
-D.C.