Insurance for Advertising Agencies

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What Advertising Agencies Are All About:

Businesses in this industry focus on advertising. Advertisers will typically specialize in areas such as specialty items, distribution services, store window dressing, mannequin decoration, billboards, bus cards, internet and television media campaigns, and various forms of direct marketing. Business types in this industry can include advertisers that specialize in outdoor advertising, direct mail advertising, and material distribution.

What type of insurance does this industry need?

Policy What is it? Why get it Popularity in your industry Want free quotes?
General Liability
This policy protects your business claims of bodily injury, property damage or advertising and personal injury (aka reputational damage). For example, the oh-so-common "slip and fall" claim would be handled under your General Liability policy. More likely than not, you have a contract, like a loan or a lease or mortgage, requiring you have General Liablity insurance. Even if you don't, this is the absolute best measure you can take to make sure you're covered in case of a law suit against your business.

What is it: This policy protects your business claims of bodily injury, property damage or advertising and personal injury (aka reputational damage). For example, the oh-so-common "slip and fall" claim would be handled under your General Liability policy.

Why get it: More likely than not, you have a contract, like a loan or a lease or mortgage, requiring you have General Liablity insurance. Even if you don't, this is the absolute best measure you can take to make sure you're covered in case of a law suit against your business.

Professional Liability
This policy protects your business against liability for committing an error or omission in the work you do. For instance, in the medical profession this type of insurance is called "Medical Malpractice Insurance." You may have contracts that require E&O coverage, provide a "warranty or guarantee," or have clauses that require you to "indemnify or hold harmless" your clients. If so, Professional Liability is a must-have. If not, think about the potential for a customer or vendor to sue you in case of an error when considering E&O.

What is it: This policy protects your business against liability for committing an error or omission in the work you do. For instance, in the medical profession this type of insurance is called "Medical Malpractice Insurance."

Why get it: You may have contracts that require E&O coverage, provide a "warranty or guarantee," or have clauses that require you to "indemnify or hold harmless" your clients. If so, Professional Liability is a must-have. If not, think about the potential for a customer or vendor to sue you in case of an error when considering E&O.

Errors & Omissions (E&O)
This insurance covers a potentially wide range of issues, but specifically is meant to help your company cover potential damages as a result of errors or omissions that occur while performing contracted work. If your company offers advice to clients, it’s imperative that you have E&O Insurance. This will cover claims of negligence, faulty advice and subcontractor errors.

What is it: This insurance covers a potentially wide range of issues, but specifically is meant to help your company cover potential damages as a result of errors or omissions that occur while performing contracted work.

Why get it: If your company offers advice to clients, it’s imperative that you have E&O Insurance. This will cover claims of negligence, faulty advice and subcontractor errors.

Workers Compensation
Workers compensation coverage covers lost wages and medical treatment resulting from an employee’s work-related injury or illness. It also covers services needed to help an employee recover and return to work. This is the law in all 50 states. As soon as you have your first non-owner employee, it's time to get Workers Comp insurance. Not having this insurance can lead to hefty fines, and of course, it means the business has to pay for any workplace injury claims.

What is it: Workers compensation coverage covers lost wages and medical treatment resulting from an employee’s work-related injury or illness. It also covers services needed to help an employee recover and return to work.

Why get it: This is the law in all 50 states. As soon as you have your first non-owner employee, it's time to get Workers Comp insurance. Not having this insurance can lead to hefty fines, and of course, it means the business has to pay for any workplace injury claims.

Commercial Property
This policy protects the business' assets, and is appropriate whether you own or lease your space or work from home. It can be customized in two ways: (1) insure more/less property and (2) insure against more/fewer causes of damage (e.g., earthquakes) If you have a mortgage or a lease, you are likely required to have property insurance. Even if you are not, this is the best way to protect the building you are in and the business property you have in case of a natural disaster or some other accident. And if the business is at fault for property damange? It helps pay those claims too.

What is it: This policy protects the business' assets, and is appropriate whether you own or lease your space or work from home. It can be customized in two ways: (1) insure more/less property and (2) insure against more/fewer causes of damage (e.g., earthquakes)

Why get it: If you have a mortgage or a lease, you are likely required to have property insurance. Even if you are not, this is the best way to protect the building you are in and the business property you have in case of a natural disaster or some other accident. And if the business is at fault for property damange? It helps pay those claims too.

Cyber Liability
It seems like every day another company is "hacked" and a set of customer's information is exposed. When that happens companies face a ton of various costs (e.g., notification costs, credit monitoring, defending claims by regulators, fines and penalties), and this policy helps pay for those. The government fines, potential lawsuits and notification expenses you incur when a cyber attack happens can easily amount to millions. Cyber liability & data breach insurance is an extremely affordable way to protect your business from these potential costs.

What is it: It seems like every day another company is "hacked" and a set of customer's information is exposed. When that happens companies face a ton of various costs (e.g., notification costs, credit monitoring, defending claims by regulators, fines and penalties), and this policy helps pay for those.

Why get it: The government fines, potential lawsuits and notification expenses you incur when a cyber attack happens can easily amount to millions. Cyber liability & data breach insurance is an extremely affordable way to protect your business from these potential costs.

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