As a graphic designer, your job is to keep your customers happy by publishing high-quality designs on budget and on schedule. In this business, word of mouth is a big thing. Not everything can go as planned, however, and can delays and accidents can occur that could put your graphic design business at risk. Because of this, it’s important to have an insurance policy in place to protect your business. But which one is right for you?
To help you decide which insurance policies fit your graphic design needs, you should educate yourself on some of the basic policies. These include:
General Liability Insurance
General liability insurance protects your business from settlements, judgements, and costs incurred by lawsuits in the event you get sued for damage by a third party. Aside from the broad ways this insurance protects you, it also provides you with relevant business coverage to fit your specific needs in graphic design.
Professional Liability Insurance
This is by far one of the most important policies to have as a graphic designer. It does not matter how careful you are, a mistake can happen either by you or an employee that could result in a client’s financial loss.
This insurance covers costs, damages, and financial losses according to your policy that result from a lawsuit up to your policy limit. It is also referred to as Errors & Omissions Insurance (E&O), which is specifically designed for your graphic design business and protects your personal assets and business from claims of wrongful acts or negligence such as piracy, plagiarism or copyright infringement either by you or an employee, even if the wrongful act wasn’t committed. Also covered are losses that occur to other people because of a professional judgement you made (i.e. a design release to the wrong person).
Cyber Liability Insurance
Your graphic design business is protected under this insurance against any costs associated with digital security breaches and lawsuits that follow. There are a variety of ways that a digital security breach can happen which can result in the loss of sensitive data like social security numbers, customer credit card information or other important and confidential data.
Other forms of insurance policies you should look into include:
- Property Insurance
- Workers’ Compensation Insurance
- Umbrella Insurance
- Business Owner’s Policies
You are doing yourself a huge favor by shopping for specialized insurance for your graphic design business.
Contact BOLT Insurance Agency for a competitive graphics designers quote on different policies and bundles. Policies for graphic designer insurance are affordably priced so get your quote today.