Media duplication businesses take all types of media, new and old, and make copies. This can be copies in the same format, or different format. Some of the duplication services include copies of audio and video discs, converting VHS movies to DVDs, cassette tapes to CDs and many more forms of media duplications. As a media duplication business, you have your share of risks to contend with, including mistakes made while working with other’s property, general liability risks and damage to your property or equipment. Protect these and other risks with media duplication business insurance.
Types of Media Duplication Business Insurance
Since there are many different types of risks for a media duplication company, you also have different insurance policies as well. Consider the following types of business insurance to cover each of your probable risks.
The first and most common business insurance policy for media duplication businesses is general liability. This is often considered the most important insurance policy to have and the first one to be obtained. General liability has three main coverages: premises liability, products liability and completed operations. Premises liability offers coverage for any accidents that occur on your premises, such as a customer getting injured from a filing cabinet that isn’t stable. Completed operations is for services you provide, which is very important in your line of business. If you sell any products, like blank discs or accessories, that later malfunction, the policy also covers those damages.
Picking up media duplication supplies is considered a business errand and should be covered by business auto insurance. As part of your media duplication business insurance portfolio, business auto covers bodily injury and property damage if you get into an accident, for you and other cars involved, along with optional coverage of theft or vandalism. So if you are making a deposit at the bank and equipment is stolen from your car, that may be covered by the policy.
Your business property and contents are essential for running your business on a daily basis. Unfortunately, there are many unexpected events that could keep you from your work, such as natural disasters, extreme weather conditions, fire or flood. These events not only damage your property, but the contents such as your recording equipment. If this occurs, business property insurance steps in and helps make repairs, plus replacing any equipment that was destroyed.
Your employees should also have adequate coverage from work-related injuries or illnesses with a workers compensation insurance plan. Workers’ comp covers medical costs, lost income, surgical procedures and recovery costs if an employee is injured while on the job. For example, if an employee is using recording equipment that comes into contact with water, it could cause an electric shock which requires immediate medical care. These costs are covered in full by the workers’ compensation policy.
Media Duplication Crime Insurance
Finally, there is crime insurance which protects you from theft, shoplifting, vandalism and dishonest employee practices. With a media duplication business, you are at risk of your equipment, business income and merchandise being stolen from customers, passersby or even your employees. While you can’t always prevent these acts, you can at least recover from the loss with a crime insurance policy. After a crime is committed, you avoid the loss in business income with the crime insurance policy.
By choosing from these important insurance policies, you’re giving your media duplication business an optimal opportunity to remain successful, even after an unexpected event. Take your time in choosing the right types of business insurance policies for maximum protection.