At some point, all artists (photographers, sculptors, painters, musicians, stage actress, and etc) will have to consider taking out an insurance for their protection. The question is what type of insurance should people in the field of art be taking out? In this post, we are going to cover three kinds of insurance that are typically being recommended to the professional artist. Let’s take a look.
Three Forms of Insurance The Artist Must Have
There are three kinds of insurance that most insurance agents recommend to the artist. It is the errors and omissions insurance, the general liability insurance, and the professional property insurance. Most insurance companies bundle these all three insurance policies into one so that the artist can simplify payments and so that the artist can get discounts from the insurance purchase.
- Errors and Omissions Insurance. This insurance plan provides protection to the artists for some incidents in his profession that involve neglect whether it is proven or not. This insurance also includes copyright and trademark issues, invasion of personal privacy and others. Example, a photographer who lost or damaged memory card of a wedding event where the client filed a case to the photographer for the act of negligence.
- Professional property insurance. This policy protects the artists’ equipment (equipment should be essential in the day to day operations of the artists’ profession) in case of lost, damage, or thief. Example of essential equipment would a high-end camera for the photographer, paint and brush to the painter, musical instruments to the musician, and so on. In case of stolen equipment, it will have to be proven that the equipment had been properly secured and that break-in took place.
- Commercial General liability insurance. This policy protects the artist from incidents that may occur while performing your business. An example of this is the case of slip and fall. When a client who enters your art gallery may have slipped and fall due to the slippery wet floor, or a bulb came to lose and fall into a visitors head.
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