Public liability insurance.

Hey I was recently told that I need to acquire public liability insurance to get trackside at motorsport events. I've had a look around (money supermarket etc) and cant seem to get it any cheaper than around £75 a year. Does this seem about the right price for 5million cover or is there somewhere else I can go to get it cheaper ? Thanks Carl Stott

Hey
I was recently told that I need to acquire public liability insurance to get trackside at motorsport events.
I've had a look around (money supermarket etc) and cant seem to get it any cheaper than around £75 a year. Does this seem about the right price for 5million cover or is there somewhere else I can go to get it cheaper ?

Thanks
Carl Stott

That 5 million is a sensible level of cover and is what most venues expect from us. You'll probably get PL insurance cheaper if it's part of a package. Is your kit insured for hobby or professional use? If you sell a single image, you'll count as professional. You need to remember that insurers don't generally ask searching questions or investigate until there's a claim and some will then do their best to avoid a payout. I've been with Towergate for a couple of decades.

That 5 million is a sensible level of cover and is what most venues expect from us.

You'll probably get PL insurance cheaper if it's part of a package. Is your kit insured for hobby or professional use? If you sell a single image, you'll count as professional. You need to remember that insurers don't generally ask searching questions or investigate until there's a claim and some will then do their best to avoid a payout.

I've been with Towergate for a couple of decades.

Yes the 5 million is wat my local track ask for. I know the likes of Silverstone its 10 million. I don't have my gear insured as its basic beginner gear and is more than likely covered on my house insurance. [quote]That 5 million is a sensible level of cover and is what most venues expect from us. You'll probably get PL insurance cheaper if it's part of a package. Is your kit insured for hobby or professional use? If you sell a single image, you'll count as professional. You need to remember that insurers don't generally ask searching questions or investigate until there's a claim and some will then do their best to avoid a payout. I've been with Towergate for a couple of decades. [/quote]

Yes the 5 million is wat my local track ask for. I know the likes of Silverstone its 10 million.
I don't have my gear insured as its basic beginner gear and is more than likely covered on my house insurance.



Quote:That 5 million is a sensible level of cover and is what most venues expect from us.

You'll probably get PL insurance cheaper if it's part of a package. Is your kit insured for hobby or professional use? If you sell a single image, you'll count as professional. You need to remember that insurers don't generally ask searching questions or investigate until there's a claim and some will then do their best to avoid a payout.

I've been with Towergate for a couple of decades.

One advantage of registering as a professional with HMRC is that the costs can be offset against your income from the day job.

One advantage of registering as a professional with HMRC is that the costs can be offset against your income from the day job.

Not sure i understand what you mean?

Not sure i understand what you mean?

[quote]Not sure i understand what you mean? [/quote] Here in the UK, we pay tax on our total income so, if a business makes a loss, that loss will reduce our total income. Tax must be paid if we sell a single image, so why not form a proper business so that we can re-coup the expenses incurred in producing that image? Weekend warriors sometimes come to grief when HMRC finds that they're running an unregistered business and the consequences can be expensive. I suspect that many never intended to break the law, it was just that their businesses grew. I'd suggest that early registration is a good idea.

Quote:Not sure i understand what you mean?


Here in the UK, we pay tax on our total income so, if a business makes a loss, that loss will reduce our total income.

Tax must be paid if we sell a single image, so why not form a proper business so that we can re-coup the expenses incurred in producing that image?

Weekend warriors sometimes come to grief when HMRC finds that they're running an unregistered business and the consequences can be expensive. I suspect that many never intended to break the law, it was just that their businesses grew. I'd suggest that early registration is a good idea.

[quote]Not sure i understand what you mean?[/quote] William has decided that you are charging money for your images but it's not your day job.

Quote:Not sure i understand what you mean?

William has decided that you are charging money for your images but it's not your day job.

[quote]Tax must be paid if we sell a single image[/quote] I guess that's only true if our total income is above the income tax threshold. In addition, equipment policies (particularly if part of our home contents policy) sometimes say that the cover does not include commercial use. I wonder if that would include earning a few pennies from the likes of Shutterstock?

Quote:Tax must be paid if we sell a single image
I guess that's only true if our total income is above the income tax threshold.

In addition, equipment policies (particularly if part of our home contents policy) sometimes say that the cover does not include commercial use. I wonder if that would include earning a few pennies from the likes of Shutterstock?

[quote] In addition, equipment policies (particularly if part of our home contents policy) sometimes say that the cover does not include commercial use. I wonder if that would include earning a few pennies from the likes of Shutterstock?[/quote] Household insurance policies that I've seen specifically exclude kit that's used for professional purposes. Insurance contracts are based on "ultimate good faith" which means that we need to be totally honest with our insurance company. They won't check that we have the appropriate locks when we take out the policy but the loss adjuster will certainly check very carefully when we've just had a burglary! If we've taken out PL insurance, then we'll have a hard time convincing them that our expensive kit was for purely amateur use. Our household policy includes PL cover for most things except work and use of anything with a motor. At a workshop that I attended, one of the delegates had recently been refused entry to the USA because her very expensive camera kit wasn't consistent with the quality of her clothing and personal effects. The Immigration officer decided that she was entering the USA in hope of work!

Quote:
In addition, equipment policies (particularly if part of our home contents policy) sometimes say that the cover does not include commercial use. I wonder if that would include earning a few pennies from the likes of Shutterstock?


Household insurance policies that I've seen specifically exclude kit that's used for professional purposes.

Insurance contracts are based on "ultimate good faith" which means that we need to be totally honest with our insurance company. They won't check that we have the appropriate locks when we take out the policy but the loss adjuster will certainly check very carefully when we've just had a burglary! If we've taken out PL insurance, then we'll have a hard time convincing them that our expensive kit was for purely amateur use. Our household policy includes PL cover for most things except work and use of anything with a motor.

At a workshop that I attended, one of the delegates had recently been refused entry to the USA because her very expensive camera kit wasn't consistent with the quality of her clothing and personal effects. The Immigration officer decided that she was entering the USA in hope of work!

I'm not charging for images I just want to get trackside to get closer and potentially better pictures. This is completely a hobby. Thanks Carl

I'm not charging for images I just want to get trackside to get closer and potentially better pictures.


This is completely a hobby.

Thanks
Carl

Carl, if it's pure hobby and you're not selling a single picture, it's worth asking your household insurer whether the PL element will cover going track-side. Most hobbies would normally be covered.

Carl, if it's pure hobby and you're not selling a single picture, it's worth asking your household insurer whether the PL element will cover going track-side. Most hobbies would normally be covered.

My, how times have changed. When I was trackside at Oulton Park on the 1970s there was no mention of insurance. Just turn up, sign the indemnity, strap on your armband and off you went. I did not sell my pictures so it was just a hobby. I soon got bored though so went photographing rallying, much more exciting.

My, how times have changed. When I was trackside at Oulton Park on the 1970s there was no mention of insurance. Just turn up, sign the indemnity, strap on your armband and off you went. I did not sell my pictures so it was just a hobby.

I soon got bored though so went photographing rallying, much more exciting.

I didn't realise my house insurance had PLI. [quote]Carl, if it's pure hobby and you're not selling a single picture, it's worth asking your household insurer whether the PL element will cover going track-side. Most hobbies would normally be covered.[/quote]

I didn't realise my house insurance had PLI.


Quote:Carl, if it's pure hobby and you're not selling a single picture, it's worth asking your household insurer whether the PL element will cover going track-side. Most hobbies would normally be covered.

I love rally to. But it's easier to practice at a circuit then when the rally cone along I'm match ready haha. [quote]My, how times have changed. When I was trackside at Oulton Park on the 1970s there was no mention of insurance. Just turn up, sign the indemnity, strap on your armband and off you went. I did not sell my pictures so it was just a hobby. I soon got bored though so went photographing rallying, much more exciting. [/quote]

I love rally to. But it's easier to practice at a circuit then when the rally cone along I'm match ready haha.


Quote:My, how times have changed. When I was trackside at Oulton Park on the 1970s there was no mention of insurance. Just turn up, sign the indemnity, strap on your armband and off you went. I did not sell my pictures so it was just a hobby.

I soon got bored though so went photographing rallying, much more exciting.

I agree that circuit racing is good for practising your timing and panning techniques. However the action is very predictable so it soon became boring for me. Rallying is more variable as the cars do not take the same line as each other with more mid-corner corrections taking place. It was even better when they did not have pace notes and had to drive on sight.

I agree that circuit racing is good for practising your timing and panning techniques. However the action is very predictable so it soon became boring for me. Rallying is more variable as the cars do not take the same line as each other with more mid-corner corrections taking place.

It was even better when they did not have pace notes and had to drive on sight.