How to Get Ad Agency Liability Insurance

Liability insurance is necessary for any business owners who want to protect their investments from natural and man-made damage. Ad agency owners need liability insurance specific to their needs to maintain a positive public image for their clients. You should educate yourself on ad agency liability insurance before you purchase a policy.

Instructions

Difficulty: Moderate

Things You’ll Need:

• Credit reports for ownership team
• Business permits
• Inventory of agency assets

Cover Your Advertising Agency With Liability Insurance

1. Write out an inventory of advertising agency assets before you get liability insurance. You should maintain a list of receipts for each item as well as updated maintenance logs to assist claims adjusters. A monthly review of this inventory by a member of your staff will speed up the claims process.
2. Decrease your deductible on copyright infringement coverage if your agency works with major clients. Coverage for copyright infringement helps pay legal bills if the owner of a protected endeavor sues for damages. A decreased deductible will increase premiums but prevent long-term financial damage to your agency.
3. Purchase optional coverage for errors and omissions in advertising as part of your liability insurance. Errors and omissions policies are offered at premium prices and protect your agency from lawsuits for breach of contract associated with ad content.
4. Extend your agency's liability insurance to company-owned vehicles with business auto coverage. Your familiarity with the strict standards for business driving and mileage limitations set by an insurance provider helps avoid denied claims.
5. Pursue liability insurance that is specific to digital and New Media ad agencies. The choice of digital-specific insurance policies is limited and a deliberate search process can avoid a bad investment. You should look for high financial limits for false advertising and libel as these are two major issues in digital advertising.
6. Gain rewards for responsible business ownership and loyalty from your insurance provider. Policy holders who do not file claims and continue to renew their policies year after year get discounted rates through major insurers.
7. Prevent the consequences of unstoppable and unpredictable accidents in your ad agency with comprehensive liability insurance. This coverage provides financial support for legitimate claims regarding natural disasters, vandalism and other issues not covered by other aspects of ad agency insurance.

Tips & Warnings

• Review the credit scores and financial history of your ownership team before you get liability insurance. Insurance companies that specialize in business policies will review credit reports and other financial issues to determine assumed risk. You should present maximum transparency as the best option in getting insurance for your agency.