Having your own advertising business is exciting – it means that you have complete control over your work which allows you to take on projects that you’re really passionate about. Although there are obvious benefits to having your own business, there are also unique risk exposures that you face. To ensure that your advertising is adequately protected, you need to have the right insurance in place. Today, we’re looking at the types of insurance cover you should consider for your business.
Public liability insurance
Public liability insurance will protect you financially following damage to property or injury to a person which results from your actions at work. It also covers your legal bills if you need to hire a lawyer during the claims process. If you have clients or any other third party attending your place of business, it’s essential that you have the protection of public liability insurance in place.
Professional indemnity insurance
Professional indemnity insurance protects against claims made against you following damages to a third party after an act, omission, negligence or breach of professional duty.
Your advertising business faces a number of indemnity risks, such as failing to provide sound advice, copyright infringement or plagiarism, and failing to predict market trends. Given the complex and subjective nature of your work, you could easily find yourself in a situation where you’re at the receiving end of an indemnity claim if a third party suffers a financial loss. Professional indemnity insurance will protect against the costs associated with such a claim.
General property insurance
When you run your own advertising business, it often requires you to travel with equipment such as your laptop, tablet and smartphone when you attend various meetings. If something happens to these items, repairs and replacements can be expensive – particularly for a small business. General property insurance means that you’re protected if you’re transportable items are lost, damaged or stolen.
Personal accident and illness insurance
When you run your own advertising business, being unable to work for a period of time can mean that you’re unable to earn an income. With personal accident and illness insurance, you’ll continue to receive a portion of your income if you’re unable to work due to injury or illness. This means that you’re able to keep up with regular expenses until you’re able to return to work.
Contractor Cover make the process of buying insurance as simple as possible. We’ve taken the most commonly used forms of insurance cover for Australian contractors and bundled them together into a convenient package. This means you get all of the insurance cover you need at a competitive price. We have access the one of Australia’s largest insurer which means we can provide your with quality insurance so you can be confident that you’re protected.
For more information about insurance for your advertising business, contact Contractor Cover today on 1300 438 268.