Advertising agencies are in charge of designing and launching advertising campaigns for a wide range of businesses. These campaigns can be online, in the newspaper, on television, radio, or even in magazines and other publications. Advertising agencies often handle the creative aspect as well as putting the plans into motion, including placing marketing messages in different media outlets. Clients for advertising agencies include corporations, small businesses, government agencies, and non-profit organizations. Your ad agency will be open to a variety of risks, both with general risks and liabilities to those relating specifically to your business. You are at a high risk of advertising liabilities as well as damage to your electronic data, computers, and media equipment which can severely impact your business assets. Protect these and other risks with advertising agency insurance.
Types of Advertising Agency Insurance
Rather than one type of business insurance policy, you should better protect your ad agency with a variety of policies. The following types of advertising agency insurance policies offer you optimum coverage.
General liability insurance is a basic business policy including completed operations, products liability, and premises liability. If a client was to visit your office and trip over a large display in the hallway, they could sue you for medical costs. You are also at risk for damage inflicted by the advertising you provided a client, which is included in Personal Injury Coverage. General liability helps cover most legal liabilities you are at risk of.
Property insurance is an important business insurance policy for any advertising agency. It will help protect your business from loss and damage caused by a natural disaster, extreme weather like snow or hail storms, and possible fire inside your building. These events can’t be prevented and may cause significant damage, but property insurance is there to help to replace items that were destroyed as well as help fund necessary repairs.
One of the most important insurance policies available for ad agencies is the professional and advertising liability policy. Any false claims and similar liabilities, such as violating trademark or copyright laws, makes your company liable. This is why it is important to have liability coverage for professional decisions and advertising in general.
Your paperwork is important on many levels, both to keep good financial records and keep your client’s information private. Valuable papers coverage is an important business insurance policy to help cover loss or damage caused by an event that destroys paperwork, including theft of important documents.
Another insurance policy to consider is the computers and media insurance policy. This offers protection for your computer equipment including laptops, computer terminals, servers, networks, monitors, and other equipment. You also have protection for media such as magnetic tape, disks and drivers where your data and media is stored.
Advertising Agency Business Auto
Any company vehicle used for business operations such as meeting with clients needs to be covered by business auto insurance policy. This policy offers benefits such as coverage for bodily injury or damage caused by a motor vehicle accident, and optional coverage for theft or vandalism. By having business auto insurance, you keep your company from being liable for these damages or injuries.
If you have employees, it is vital they are covered by worker’s compensation insurance. This is especially true if your employees are traveling, as it increases the risk of injury or illness while performing business operations. However with worker’s comp, their medical care is covered by the policy. Workers’ compensation policies generally do not cover international exposures.
Advertising Agency Crime Insurance
Crime insurance will protect against any crimes committed at your advertising agency, with dishonest employee acts being at the top of the list. Employees could steal or embezzle money and goods from your advertising company which can severely impact your business assets and reputation if the public becomes aware of it. By getting crime insurance, you have the best protection available.
You can’t prevent all of the risks you’re exposed to, but by obtaining the right types of business insurance for your advertising agency, you protect your business, assets, and employees.