Camera Repair Shop Insurance

How to Insure Your Camera Repair Shop

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Camera Repair Shop Insurance

Running a camera repair shop comes with its own set of unique risks. Customers entrust you with valuable camera equipment and expect great care to be taken of their valuables. Would you be able to survive financially in the event that your business was forced to shut down?  


According to FEMA, after a disaster, 90% of smaller businesses fail within a year unless they resume operations within five days. 

That's a hard number to swallow. 

An independent insurance agent can help you evaluate the hazards you need to be safeguarded against so you can stay afloat if a loss were to happen. An agent can create a tailored business insurance plan to fit your camera repair shop and prepare you for any situation. 

Why Do You Need Camera Repair Shop Insurance? 

Running a business comes with an assortment of hazards every day. Even when paying careful attention to detail, accidents can still occur. Without proper insurance, one catastrophic incident can completely destroy your business. Here are some potential problems you could run into: 

  • Your shop has a fire and damages most of the cameras in your possession 
  • An employee slips and needs medical care
  • A customer is injured in your store
  • An earthquake severely damages your building
  • You camera repair shop is broken into and vandalized during the night

An independent insurance agent can help put together a customized business insurance plan to ensure your camera repair shop is fully protected.

What Is Commercial Property Insurance? 

Commercial property insurance is an essential layer of protection for your camera repair shop. Property insurance covers losses like natural disasters, fires, theft, and property damage. 

If your camera repair shop were to catch fire and you didn’t have the appropriate coverage, you may never be able to open business doors again. A large loss could be catastrophic to your small business. 

What Does Commercial Liability Insurance Cover? 

Another fundamental type of insurance for your camera repair shop is commercial liability insurance.

A typical commercial general liability insurance (CGL) policy includes the following coverage: 

Bodily injury and property damage liability 

If bodily injury or property damage occurs during normal business activities, your CGL policy would cover the incurred cost of damages. 

Personal and advertising injury  

In the case of an offense such as libel, slander, copyright infringement, or any other form of defamation, your CGL policy would cover the charges. 

Medical payments 

Even though the risk might be low, there’s always a chance that a customer could be injured at your camera repair shop. Your liability coverage would cover the cost of certain medical payments without the need for litigation. 

Do You Need Business Interruption Insurance? 

Too often, businesses overlook the significance of carrying business interruption insurance, and this is a huge risk. While nobody would ever expect to use it, devastations occur when least expected. There are many situations that could close down your business. A business interruption policy can help cover payments like:

  • Lease/rent
  • Employee wages
  • Lost income 
  • Taxes 

Combining commercial property, general liability, and business interruption insurance can be utilized by purchasing a business owners policy (BOP). It’s important to be aware that a standard BOP does not cover certain coverage such as professional liability, commercial vehicle, or other special types of business insurance. 

Speak to an independent insurance agent to get a customized insurance plan for your repair shop. 

What is Workers’ Compensation Insurance? 

Every business with employees needs a workers' compensation insurance policy. If an employee were to be injured at your camera repair shop, the workers’ comp policy would cover the cost of medical treatment, and in certain circumstances, lost wages. 

Every state has different laws pertaining to workers' comp insurance, so check with your state board for requirements. 


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How Much Does Insurance Cost for Your Camera Repair Shop?

There are various considerations that affect the cost to insure your business. From the size of your establishment to the number of employees on your payroll, the price of monthly premiums can differ between similar businesses. 

Remember, not having adequate coverage jeopardizes your shop and everything you have worked so hard to build. An unexpected loss could completely put you out of business. 

An independent insurance agent can guide you on how to reduce insurance premiums and find the most affordable and thorough coverage for your repair shop.

The Benefits of an Independent Insurance Agent 

Independent insurance agents have access to multiple insurance companies, ultimately finding you the best coverage, accessibility, and competitive pricing while working entirely for you. As your needs change, they'll be there to help you adjust your coverage, up or down, to make sure you're properly protected without overpaying. 

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