Photo booths have grown from being random spots to modern complex booths that provide interactive digital displays to email photos or texts. Though it functions simply , your photo booth business needs coverage too.

This is why it is essential to address risks with photo booth insurance. This insurance policy protects your business against various claims that could otherwise cause severe financial losses. To help you understand the importance of this policy, we will discuss what it covers and why you should consider getting it. We will also mention its cost.

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Photo Booth Liability Insurance

Photo booth business insurance protects your business against various claims. For instance, if you are blamed for injury to a third party or causing damage to their property, this policy will help cover the costs. Imagine a customer experiencing seizures in your photo booth and goes ahead to file a compensation claim against your business for such incident.

If this matter goes to trial, setting legal fees aside, you will find yourself paying hefty expenses for medical bills. Things could get worse if you are ordered to pay a huge settlement to the victim. This can significantly damage your finances.

Furthermore, this insurance has professional indemnity insurance that is key for photo booth businesses. Picture a scenario where your photo booth is rented for a high-end corporate party. Then, for various reasons, it malfunctions and all the photos captured that day get lost. The company could sue you for failing to meet expectations and not delivering services as agreed. This could cost you a lot of money if a court orders you to pay for damages.

Commercial general liability is another policy under this insurance cover. This policy is designed to protect your business against property damage to a third party. You could damage someone's property when the photo booth catches fire or becomes an obstruction.

In addition, you might have forgotten to neatly keep your photo booth's cables. As a result, someone carrying an important object trips on it, resulting for the object in question to get damaged. Lawsuits for property damage could be very costly.

All of the situations above are problematic. However, things will be more favorable if you have photo booth insurance because it will cover settlements, legal fees, and other costs.

If you're planning to install your photo booth in an amusement park or arcade, you should first enquire about the type of coverage your hosting business has in place to assist you in choosing the best policy for your business. In the long run, this may help reduce your insurance cost, as you may end up only insuring your business against perils that your host has not covered.

Why Get Photo Booth Liability Insurance?

Some business owners think insurance isn't necessary for photo booths. This doesn't seem right because the photo booth business is risky like any other. Getting a comprehensive insurance cover is crucial because it protects your photo booth business against various claims and risks. Some of the reasons you should get photo booth insurance are;

Theft

You could suffer a massive blow if someone experiences theft while using your photo booth. The person might accuse you of being liable and ask for settlement as you have failed to place your photo booth in a safe and secure location. Luckily, photo booth insurance helps cover such cases. This is one of the main reasons why getting photo booth insurance is vital.

One way to prevent theft from happening inside your photo booth is to hire a security guard for it. If you do this, be sure to get security guard insurance.

Fires

You cannot predict when fires will happen. While you might have measures in place to limit fire damage, the photo booth might short circuit and ignite in flames. Getting insurance coverage for fires that will cover costs for legal fees and settlement to injured parties.

This goes a long way in saving money you could have spent replacing your equipment. In extreme fires, your photo booth could be burnt beyond recognition. This can mark the end of your business if you don't have sufficient backup to get back on track.

Damages

Vandalism is very common nowadays. As a photo booth operator, you must have heard stories about photo booth vandalism. Acts of vandalism include but are not limited to putting graphics in your photo booth, and destroying its components (e.g the camera). Even the tightest security measures can fail to prevent vandalism. This is why it is imperative to get comprehensive insurance coverage.

Photo Booth Insurance Cost

The average photo booth insurance cost is $33 per month or $396 per year for a $1 million general liability coverage. Keep in mind that several factors influence the cost of photo booth insurance. Some of them include;

Location

The location of your photo booth business plays a vital role in determining the cost of insurance. If you operate on a busy street where traffic is high, you will pay more for insurance. This is because the associated risk is higher in crowded locations. A customer could easily get injured while trying to access your busy photo booth.

On the other hand, if your photo booth business is in a laid-back environment where human traffic is scarce, you could spend less for premiums. This is because the risk is significantly low compared to busy locations.

Furthermore, the state where your business is located also influences the cost of insurance as some states have set limits on the cost of premiums.

Number of Employees

If your photo booth business has several employees, you could spend more on insurance as you need a policy that covers all of your employees. Insurance for your employees is essential since it covers various claims. For example, if an employee sustains injuries while working, you must cover their medical expenses.

This is why you could spend more on insurance if you have many employees. Photo booth businesses with a small number of employees don't have to pay much on insurance because the risk is lower.