If you are looking for insurance for your studio, one of the first questions you might want to ask is exactly what kind of establishment you are running. Studios may be the place of business for a surprisingly wide range of talents, including:
- recording artists;
- tattoo parlours;
- and many others.
With such a wide range of possible businesses, therefore, insuring a studio is likely to depend on its nature and size, its purpose, the activities in which you are likely to engage and the materials you might use and keep on the premises.
What might your studio insurance typically cover?
Although the elements of cover are likely to be those which meet your specific needs and circumstances, the following might help you to decide what to include:
- if you are the owner of the property in which the studio is situated, you may want to consider the protection offered by insurance that protects the very structure and fabric of the building – buildings insurance;
- whether or not you own the building, insurance of its contents is likely to be an important safeguard for the stock that probably forms the key to your business;
- this might include equipment and apparatus or the materials used in your studio – artists materials, photographic material, recording tapes and other media, tattooing inks and equipment, beauty products or hair shampoos, to name just a few of the possibilities;
- the shop front of your studio or salon may well be your single most important advertisement to clients and potential customers – studio insurance, therefore, might cover the cost of replacing the shop window in the event of accidental damage, attempted theft or vandalism;
- with respect to the financial losses you might incur, however, the question of liability may be paramount;
- depending on the type of studio you are operating and the services you provide, for example, you might want to consider the type of professional liability insurance required;
- if your studio employs other individuals, you might also have a legal obligation to hold adequate employers’ liability insurance;
- in any event, however, you may still have a wider, more general duty of care towards not just your customers and staff, but to ordinary members of the public, too;
- as a safeguard against public liability claims arising from injuries or other loss or damage suffered by such individuals, you might wish to give serious consideration to the inclusion of adequate public liability insurance in your studio cover.