Radio Station Insurance
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What Insurance Do Radio Station Need?
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
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).
Cyber Liability Insurance protects you from the theft of sensitive data. If you suffer a data breach or software attack, Cyber Liability Insurance will cover the costs of notifying and restoring affected customers, recovering data and repairing security systems.
Frequently Asked Questions
Why do Radio Stations need insurance?
These companies are involved in the creation, transmission, and broadcasting of aural programming to subscribers through cable, satellite, or radio. Programs may come from external sources and may cover materials such as religion, sports, weather, or music.
Once your broadcast is on the airwaves, anything could happen. The question is, are you prepared for it? When your business is faced with a lawsuit, your business and personal assets are protected by paying for the defense and court costs.
What risks do Radio Stations face?
Below are some common risks radio stations can face:
- Your radio DJ does a commentary directed at someone in which they accidentally say their name. This causes someone to file charges against your DJ for the damages.
- Your radio station's website gets hacked and your customers' personal information gets stolen and then leaked to the public.
- After a storm, your radio station gets flooded in which most of your equipment is destroyed.
How much does Radio Station Insurance cost?
The cost of insurance for radio stations varies as there several criteria that define the cost of your insurance, most notably the size of your business, the number of employees you have, and the coverage your radio stations need. Without taking these into account, below are the average costs of insurance for the policies most commonly purchased by radio stations:
- Commercial Property insurance costs $600 in annual premiums.
- Business Interruption insurance costs $700 in annual premiums.
- General Liability insurance costs $500 in annual premiums.