Last Updated: May 30, 2024, 1:43 pm by TRUiC Team

Picture Framing Business Insurance

Business insurance is essential for any type of business, including picture framing businesses.

Picture framing businesses need to be protected against things like liability claims, equipment damage or theft, and loss of income due to unforeseen circumstances.

For example, gear is expensive and necessary for any picture framing business, insuring your equipment protects against damage, theft, and loss.

We’ll help you find the most personalized and affordable coverage for your unique business.

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Recommended: Next Insurance is dedicated to matching small businesses with the right policy at the best price.

Best Insurance for a Picture Framing Business

General liability insurance is — generally speaking — one of the most important insurance policies for a picture framing business. 

Some of the risks general liability insurance covers are:

  • Bodily injury
  • Property damage
  • Medical payments
  • Legal defense and judgment
  • Personal and advertising injury

Even so, your picture framing studio might also benefit from other types of policies. Additional coverage policies that can often be important for photography studios include: 

  • Equipment insurance: Provides protection for your costly photography gear from theft, loss or damage. This type of coverage will also offer peace of mind and enable you to continue working without interruption if any unforeseen circumstances arise.
  • Cyber liability insurance: Helps cover the costs associated with data breaches that could result in not only financial losses but also damage to your reputation and trustworthiness as a professional photographer. Cyber liability insurance can help cover the costs associated with such incidents including legal fees and client compensation claims.
  • Errors and omissions (E&O) insurance: E&O covers professional negligence claims made against you for mistakes or oversights in your work product or advice given to clients.

The insurance industry is experiencing a shift in the way policies are sold and managed. There are two types of insurers your business can choose from:

  • Traditional brick and mortar insurers: They can interact with their clients face-to-face, which allows for a more personalized experience. Additionally, these insurers typically employ local agents who have an extensive knowledge of the insurance market in their area. These insurers tend to have higher premiums.
  • Online insurers: These providers offer convenience to customers who prefer to manage their policies from anywhere using just their computers or smartphones. Because these companies operate online, insurance policy costs are significantly less for business owners. 

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Cost of General Liability Insurance

On average, picture framing businesses in America spend between $400 - $1500 per year for $1 million in general liability coverage.

Compare the average cost of general liability insurance for a picture framing business to other professional industries using the graph below.

Several factors will determine the price of your policy. These include your:

  • Location
  • Deductible
  • Number of employees
  • Per-occurrence limit
  • General aggregate limit

You may be able to acquire general liability insurance at a discounted rate by purchasing it as part of a business owner’s policy (BOP) rather than as a standalone policy.

A BOP is a more comprehensive solution that includes multiple forms of coverage, such as business interruption and property insurance.

Graph showing average price of general liability insurance prices per industry

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Find the Best Rate

Discover the best coverage at the lowest rate in our cheapest business insurance review.

Common Situations That General Liability Insurance May Cover for a Picture Framing Business

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Example 1: As a customer brings several pictures into your place of business, she trips over some broken pavement in your parking lot, breaks an ankle, and decides to sue your business for damages. General liability insurance would pay for your legal defense and any required settlement.

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Example 2: A competitor files a lawsuit against your company, claiming you libeled her business in your last advertisement. While you disagree with the claim, you know you need a lawyer to protect your interests. General liability insurance would pay for your legal defense and any required settlement.

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Example 3: When you hand a customer a picture you just finished framing, you accidentally drop the frame. The glass breaks and cuts the customer, who then asks you to pay for his medical treatment. General liability insurance would cover the customer’s medical expenses.

Other Types of Coverage Picture Framing Businesses Need

While general liability is the most important type of insurance to have, there are several other forms of coverage you should be aware of. Below are some of the most common types of coverage:

Commercial Property Insurance

You made a major investment in the equipment and supplies needed to establish and run your picture framing business. In the event of a fire, theft, or natural disaster, commercial property insurance would cover the cost of repairing or replacing your business-related property. This includes structural damage to your building as well as the business materials you store there.

Product Liability Insurance

While you strive to ensure the pictures you frame satisfy your customers, there’s always a chance someone might decide one of your products caused them harm. In the event of a lawsuit, product liability insurance would cover your legal fees and any required settlement.

Workers’ Compensation Insurance

If you have any employees, most states will require you to carry workers’ compensation insurance for your part-time and full-time workers. This coverage protects your employees if they become injured at work or fall ill after a work-related accident. It not only covers an employee’s medical bills and lost wages if they need time to recover but also any disability or death benefits stemming from a workplace accident.

Commercial Umbrella Insurance

While your general liability insurance policy covers most claims, some accidents or lawsuits may be so catastrophic that they threaten to exhaust the limits of your primary coverage. Commercial umbrella insurance protects you from paying out-of-pocket for any legal fees and awarded damages that exceed your primary policy.

Additional Steps To Protect Your Business

Although it’s easy (and essential) to invest in business insurance, it shouldn’t be your only defense.

Here are several things you can do to better protect your picture framing business:

  • Use legally robust contracts and other business documents. (We offer free templates for some of the most common legal forms.)
  • Set up an LLC or corporation to protect your personal assets. (Visit our step-by-step guides to learn how to form an LLC or corporation in your state.)
  • Stay up to date with business licensing.
  • Maintain your corporate veil.

Picture Framing Business Insurance FAQ

Yes, absolutely. You will need to first get a quote from an online business insurance provider like Next Insurance. Next allows you to then purchase a policy immediately and your coverage will be active within 48 hours.

A typical business owner’s policy includes general liability, business interruption, and commercial property insurance. However, BOPs are often customizable, so your agent may recommend adding professional liability, commercial auto, or other types of coverage to your package depending on your company’s needs.

"Business insurance" is a generic term used to describe many different types of coverage a business may need. General liability insurance, on the other hand, is a specific type of coverage that business owners need to protect their assets.

Yes, as a prospective photo framing studio owner, you’ll want to consider the potential risks that come with running this business and how business insurance can help you. Purchasing insurance before starting your picture framing business allows you to plan for the cost while also protecting your assets from lawsuits and other legal actions if someone sues you. 

Not necessarily. Certain exceptions may be written directly into your picture framing business insurance policy, and some perils may be entirely uninsurable.

Yes, an LLC is meant to create a legal barrier between your business and your personal assets and credit. If you haven’t formed an LLC yet, use our Form an LLC guide to get started.

An LLC doesn’t protect your business assets from lawsuits and liability– that’s where business insurance comes in. Business insurance helps protect your business from liability and risk.