Everyone can take photos with a smartphone. However, great shots that are as good as those taken by professional photographers can only be produced by an excellent camera. Of course, photography isn’t the only use for a camera but it can also be utilized as a videography equipment.
Thinking of starting a camera shop? When you operate a camera shop, it's critical that you take all the right steps to ensure that your business is ready to go.
Not only do you need to make sure that you have a clear business plan, the right camera inventory, and the ideal location, but you need to take a look at your camera shop insurance and make sure that you have the coverage you need for any eventuality.
Camera store insurance can help protect you in the event of potentially damaging events, from weather disasters to a customer who falls in your store.
Camera store liability insurance is available as a general liability policy or product liability policy. Both grant protection against lawsuits that result from certain circumstances. The sections below discuss how each works.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$1,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $100,000 | $100,000 | $5,000 | $100,000 | $1,000,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
People can access and explore your camera store. Your business has liability if they sustain injuries or property damage while on the premises. Because of this, you need to purchase general liability insurance. Use the table above tosee which insurance company has the best general liability insurance for camera stores.
General liability insurance helps your camera store by granting a $1 million-$2 million worth of coverage that can be used to pay the:
Medical treatment of the claimant
Reimbursement for the damaged property of the claimant
Legal defense costs if a lawsuit is filed
Court judgments
Below are some situations that can happen in your camera shop that general liability insurance can cover:
A customer experiences a slip-and-fall accident
A customer has her finger smashed by your camera shop’s door
An independent contractor gets electrocuted while fixing the wiring of your camera store
An employee accidentally hits a customer while placing items on the display rack of your camera shop
General liability insurance is still useful even if you sell online. It’s because this policy comes with advertising injury coverage. That said, the policy can cover legal defense and court judgment expenses if your camera shop gets sued by a customer or another business for slander, libel, and copyright infringement.
Some of the cameras you sell might be defective. What’s problematic is that one might be released to customers despite careful quality checks. And in case a defective camera explodes or causes an accident that results in bodily injuries or property damage, your business can be held liable by the buyer. And so, purchase product liability insurance.
Product liability insurance is a coverage automatically included in a general liability policy. Its job is to cover medical treatments, property damage reimbursement, court judgments, legal defense costs, and product recall expenses if a customer files a claim because the product of your camera shop has:
Manufacturing errors
Design errors
Incorrect labeling
Missing or incorrect user’s manual
Get all the best quotes from leading providers in a click of a button!
| CoverWallet | NEXT (Best) | Thimble | The Hartford | Hiscox | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $35,000 | $25,000/$500,000 | $75,000 | $25,000 |
| Contents coverage limit (minimum) | $50,000 | $35,000 | $25,000/$500,000 | $75,000 | $15,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Included |
| Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Excluded | Included |
| Money and securities | Excluded | $2,500 | $1,000 | Excluded | Included |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded | Included |
| Business interruption floater | Excluded | Included | Included | Excluded | Included |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Included |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded | Excluded |
Commercial property insurance is a coverage for the brick and mortar location where your camera shop is operating. Most landlords will require you to purchase this if you plan to rent or lease their space. Use the table above to see which insurance company offers the best commercial property insurance for camera shops.
Commercial property insurance provides protection by granting payouts equal to the cash value or replacement cost of your camera shop’s brick-and-mortar location. Coverage applies when building damage or destruction is caused by:
Fire
Theft
Vandalism
Riot
Civil commotion
Sinkhole collapse
Volcanic action
Lightning
Weather
Sprinkler leakage
Impact
Falling objects
Aircraft
Vehicles
Yes. Commercial property insurance doesn’t only cover the building but also the cameras, lenses, and other valuables in your shop. The amount of payout you get will depend on the limits provided by the insurance company. But in most cases, you’ll receive $50,000 or more in case the cameras to be sold and other valuables get damaged or destroyed due to the perils we mentioned above.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| General liability aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $35,000 | $25,000/$500,000 | $25,000 | $75,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes | Yes |
You enjoy comprehensive coverage if your camera shop has general liability and commercial property insurance. There’s no need to buy each as separate policies. Some insurance companies help you get the best value for money by offering a business owner’s policy.
Use the table above to see which insurance company offers the best business owner’s policy for camera shops.
A business owner’s policy fuses general liability and commercial property insurance. That said, you can use this as a coverage against lawsuits and commercial property damage or destruction.
Depending on which insurance company you work with, further policies can be added to a business owner’s policy such as cyber liability coverage, hired/non-owned auto liability coverage, and customer property coverage.
| NEXT | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 | $5,000-$10,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No | Yes |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 | $0 |
Your camera shop needs some tools and equipment to operate smoothly. There’s the cash register or POS system for keeping transactions fast. You might also install a television screen to play promotional videos and other digital marketing materials.
Of course, there must be several computers that employees can use to track sales, record incoming and outgoing stocks, and create payroll. You can protect all of these by purchasing tools and equipment insurance. Use the table above to see which insurance company best offers this policy.
Tools and equipment insurance works by covering the repair or replacement costs of business equipment. Here are some situations where this insurance can help:
Your camera shop’s computer got fried after a thunderclap happened
An employee mishandled your shop’s air conditioner during cleanup and it got damaged
A customer accidentally damaged a display rack of your camera shop
When business is interrupted for any reason, you may find yourself without a source of income. Meanwhile, your usual bills just keep coming. Business interruption insurance can help keep your camera shop afloat if you have to close down for a period of time for any reason. This will grant the money you can use to cover payroll, utility bills, mortgage, taxes, and other related costs.
If you have workers in your camera shop, and they get hurt on the job, they can file a claim through workers' comp that will provide them with a percentage of their income and coverage for all medical bills related to a workplace injury.
Workers' compensation insurance is a state-mandated benefit. Your camera store must have one as soon as one or more employees are hired. Failure to get this policy will result in heavy fines and penalties. Some businesses have been issued a stop-hold order because of such a violation.
Here are some other insurance policies that you might want to consider including in your camera store insurance bundle:
Cyber liability insurance-Cyber liability insurance takes care of the resulting costs if your camera shop’s computer gets breached due to a phishing, malware, or other types of cyber attack
Commercial auto insurance-Commercial auto insurance takes care of the medical treatment of third parties in case your camera shop’s vehicle causes an accident. This will also provide coverage for your commercial vehicle’s driver and passengers in case of accidents caused by an uninsured/underinsured motorist
The average camera shop insurance cost is $53.50 per month or $642 per year for a $1 million general liability policy. Premiums for camera shop insurance may depend on a number of key factors.
What type of insurance coverage do you need?-If you do not have to have commercial property insurance or you do not have workers and therefore do not carry workers' comp insurance, you may find that the cost to insure your camera shop is far lower
How much coverage do you need?-If you have a number of expensive cameras in the store or the need to cover potentially high repair costs, you may need more insurance coverage than someone who has a smaller camera shop, focusing primarily on accessories or other low-cost items. The more coverage you carry, the more you may pay for your insurance coverage
What is the likelihood of a damaging incident that will result in a claim?-If you have a high likelihood of a damaging incident, including keeping your shop in an area with regular theft or vandalism, it may increase your insurance costs. Past claims may also mean higher insurance costs for your future insurance needs
In connection, here’s another table showing the cost of a $1 million general liability policy from the companies we recommend:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $25 | $300 | Best overall; Fastest general liability insurance for camera stores |
| CoverWallet | $31.63 | $379.56 | Camera store insurance online quotes comparison |
| The Hartford | $39.17 | $470.04 | Workers compensation insurance for camera stores |
| Tivly | $40.50 | $486 | Comparing camera store insurance quotes over the phone |
| Hiscox | $43.80 | $525.60 | Camera store insurance that automatically renews every year |
| Thimble | $49 | $588 | Short-term liability insurance coverage; limited-term coverage |
Get all the best quotes from leading providers in a click of a button!
Get comprehensive coverage at a reasonable price by working with a trusted carrier. Here are the best camera store insurance companies. Read some of the reviews below to know their pros, cons, and rate for a $1 million general liability policy.
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance for camera stores
Great customer service and reputation
Excellent rates
Outstanding value for money
Get a 10% discount if you buy two or more policies
Couldn’t find any
NEXT offers a number of advantages for many camera shop owners. You will find a selection of policy options that allow you to choose between coverage amounts and coverage areas that work for your specific needs. Furthermore, you can get an online certificate of insurance as soon as you sign up, so you can quickly and easily provide proof of insurance if needed.
Best for: Best overall; Fastest general liability insurance for camera stores
Average cost: $25 per month
Our rating: 10/10
Compare camera store insurance quotes online
Cancel your coverage anytime with no charges
Buy a quote online or with the help of an agent
Not an insurance company but an insurance broker
CoverWallet is an insurance company that outsources its camera store insurance quotes from partners such as Liberty Mutual, Hiscox, and Chubb. Use this company’s online quotes comparison tool to find the best rates before getting covered. By providing some of your basic business information, CoverWallet’s quote comparison tool can show coverage limits, floaters, and rates.
Best for: Camera store insurance online quotes comparison
Average cost: $31.63 per month
Our rating: 10/10
Hired/non-owned auto liability coverage automatically included to general liability insurance
Waiver of subrogation automatically included to general liability insurance
Number 2 best company for workers compensation insurance
Has insured millions of small businesses
There might be hidden charges
The Hartford has 200+ years of underwriting business insurance for small and big businesses. To date, it has insured 1 million businesses. Your camera shop insurance from The Hartford consists of customizable policies that’s comprehensively designed for the best protection. For one, you can decide to get $1 million-$2 million general liability insurance. You can even add floaters for a more comprehensive protection.
Best for: Workers compensation insurance for camera stores
Average cost: $39.17 per month
Our rating: 10/10
Compare camera shop insurance quotes over the phone
Responsive customer service
A partner of many reputable companies such as NEXT, The Hartford, and Thimble
You have to call to get a quote
Tivly doesn’t have a camera store insurance package. However, it can get you covered by compiling the retail insurance quotes of its partners. Policies you can avail from this company are general liability, commercial property, product liability, and other business insurance policies. Call a Tivly representative now to compare quotes over the phone.
Best for: Comparing camera store insurance quotes over the phone
Average cost: $40.50 per month
Our rating: 10/10
Short-term coverage can help bridge the gap when you do not have insurance coverage during a specific period of time
Instant coverage if you sign up online
Fast quotes
Online-only customer support, with no phone assistance
Thimble offers short-term liability insurance policies and monthly coverage. It can be a great option if you plan to host a pop-up camera shop or you want to ensure that you have coverage for a specific event.
The company also offers annual general liability coverage for your long-term needs. Note that Thimble doesn’t have a camera store insurance program. Instead, you purchase a policy through its electronic store insurance package.
Best for: Short-term liability insurance coverage; limited-term coverage
Average cost: $49 per month
Our rating: 9/10
Online claim filing and tracking
In-house insurance adjusters, which help ensure faster processing on a new policy or claim
Worldwide coverage
Slow processing on some claims
May prove difficult to get coverage, depending on your policy
Hiscox can provide considerable coverage, including up to $2 million in business liability coverage. It offers both local and international coverage, making it ideal for camera shops that are expanding.
Best for: Camera store insurance that automatically renews every year
Average cost: $43.80 per month
Our rating: 9/10
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
It really can't get any better than this... wow
Not all those who wander are lost.
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