Toronto Photography Meetup Group

Hey,
I work for a student organization (we don't have not-for-profit status yet, but are not a for-profit business, though we are incorporated and have a board of directors) and we need insurance for the gear our photographers shoot events with. Any suggestions? The gear changes hands between four employees and while we have an office it is not usually kept there.

Also it would be nice if we could add the gear our employees own to the insurance policy since they use it while out shooting for us.

Any suggestions of companies?

Thanks,
Holly

An insurance broker is your best option. It's their job to shop insurance companies for you and find options.

Since the risk to the insurance company is high (equipment is valuable, regularly targeted by thieves, leaves your premises and doesn't even get checked in at the end of the day) you should expect few companies to want to insure you and premiums to be very high.

You would do better to budget money for losses and set that aside each month, just as you would pay an insurance premium. When you do suffer a loss, you'll have the cash in a savings account to cover for it.

Remember that buying insurance is just one form of risk mitigation. Regularly putting money into a savings account for the day that something bad happens is another.