The wedding industry is set to boom once pandemic restrictions are lifted, and the subsequent demand for photographers could lead to an increase in equipment insurance coverage as well, according to insurance broker PolicyBee.
The UK wedding industry is worth £14.7billion, with 279,000 couples marrying each year, the UK Wedding Taskforce reported. And while the pandemic prevented people from holding and attending wedding ceremonies, restrictions are expected to gradually lift in the months to come.
From April 12, 15 guests have been able to be present at a wedding, and this will grow to 30 guests from May 17. The government aims to lift all restrictions on social contact by June 21, at the earliest.
PolicyBee is anticipating a boom in wedding photography services once events start picking up the pace later in the year.
“After spending so long waiting for the government regulations to allow weddings to resume, business is set to boom again for the wedding trade,” said PolicyBee customer service and claims team leader Jane Aldous, who is also the broker’s resident expert in photographer’s insurance.
“Photographers need to ensure their insurance is ready to go and they have the right level of cover, especially if they invested in new equipment during lockdown.”
Citing its own claims data, PolicyBee said that last year, 20% of all claims made on policies it issued were from photographers. The broker also noted that 36% of those received from photographers were for portable equipment, including cameras and laptops.
“Equipment insurance will also cover you for the hire of camera kit while yours is being repaired, or if it takes some time to get hold of the right replacement kit,” commented Aldous.
“So, should your tripod and camera get knocked over and damaged by the best man, you won’t risk loss of trade.”
Aldous added that weddings can be stressful situations for everyone involved, but having the right insurance saves photographers from frustration and any potential financial fallout.
