Professional Liability Insurance (or E&O Insurance), protects your small business from claims of mistakes, negligence or malpractice made when providing your services that caused sobody financial loss. PLI covers your legal defense costs, damages and settlements.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Business Owners Policy (BOP) protects you from business liability and property damage at a lower cost. BOP covers claims resulting from fire, theft & disasters. BOP also covers claims of bodily injury or property damage during your business operations.
Business Interruption Insurance protects your small business if impacted by a covered risk. It'll cover the costs in replacing lost income and paying for additional expenditures. Also known as Business Interruption Coverage, this policy is usually part of your BOP (Business Owners Policy).
Why do Printing Businesses need insurance?
Your printing business needs insurance because this covers the risks that result in huge expenses that could otherwise bring your business to a halt. The insurance will cover the cost of a lawsuit, medical expenses, and other risks so that you don't have to. And all it requires is a small monthly fee to protect your business.
What risks do Printing Businesses face?
Below are the common risks your printing business can face:
There is an error in a batch of printed documents which causes your client to lose a lot of money. Your client sues your business for the damages.
A fire strikes your commercial building in which most of the equipment you use for printing is destroyed. Because of the fire, your business operations are put on halt until you are able to rebuild your business.
How much does insurance for Printers cost?
There is no fixed price of insurance for your printing business as it relies on the size of your printing business, the number of employees you have, and the coverage required. You can find out your insurance cost fast and easy in applying online. You receive a free quote in less than five minutes.
What Printing is all about?
This industry consists of physical printing services. Businesses in this industry provide supportive printing services, such as edging, embossing, folding and typesetting, commercial screen printing of labels and on textiles (such as t-shirts), commercial printing services and book printing.