Audiovisual consultants bring conference rooms, presentation areas, and general entertaining areas to life through sound and video. Businesses rely on you to make the audio and video aspects of their business efficient and successful. As a consultant, clients look to you to for your expertise. Should you dole out some poor advice that costs a company large sums of money, you could be facing a large lawsuit.
An independent insurance agent can help you evaluate your risks and build a comprehensive insurance package that protects your business.
What Risks Does an Audiovisual Consultant Face?
As an expert in audio and visual, clients are looking to you to analyze their space and determine the best location for sound systems, TV displays, projection screens, audio speakers, and the like. As a consultant, you're part of a bigger architectural team, so you don't face nearly as many risks as the architecture constructing the business, but that doesn't mean you can't make costly mistakes.
What would happen to your business if:
- You advise a restaurant on where to install televisions and several clients end up bumping their head on the TVs when they're walking through the restaurant?
- You accidentally steal someone else's idea and are sued for copyright infringement?
- Your employee causes property damage while assessing a room for sound quality?
Your Business Needs Professional Liability Insurance
As a consultant, all eyes and ears are on you, and what you suggest is what's implemented. What if a project does not deliver as promised? What if you mismeasure a space leading to an injury during installation?
While general liability insurance provides broad coverage for bodily injury and property damage caused by your business, it does not cover you for failures, mistakes, or oversights in the professional services that you provide.
You can be sued for errors or professional negligence that harm your clients, and you can make mistakes — no matter how careful you are. One lawsuit can be financially devastating.
Audiovisual consultant professional liability insurance provides the financial security and peace of mind you need. Professional liability insurance, or errors and omissions (E&O) insurance, provides coverage for consultants, their partners, their employees, and the partnership or corporation for damage caused by providing or failing to provide professional services.
It covers costs associated with your legal defense if you are sued (even if the lawsuit is unfounded) as well as any judgments or settlements that you must pay. Most errors and omissions policies can be customized for your particular area of expertise and for the risks you face.
There are numerous instances in which an audiovisual consultant can be sued for professional negligence, including the following:
- Giving bad or erroneous advice
- Failing to communicate changes in plans, materials, timelines, and other pertinent information about a project
- Making mistakes in scheduling, ordering, or measuring
- Failing to complete a project on time
- Failing to complete a project within budget
While audiovisual consultants professional liability insurance protects you in these situations, it excludes coverage for criminal, fraudulent, and malicious acts as well as liability claims that are covered under one of your other insurance policies.
Additional Important Coverages for Audiovisual Consultants
Your independent insurance agent can help you decide if you need additional audiovisual consultant insurance, such as the following:
Commercial general liability (CGL) insurance: This offers broad coverage for lawsuits related to third-party bodily injury and property damage. For you, this could mean:
- A client, vendor, or delivery person slips and falls on your business premises.
- You or an employee damages a client’s property.
- You are accused of false advertising, slander, or libel.
Commercial property insurance: This protects your business property whether it’s a building you own or the contents inside of it (computers, office furniture, supplies, etc.). If your business property is damaged by fire, weather, theft, or vandalism, your business property policy pays to repair or replace it.
Your property policy should also include coverage for business interruption, or business income coverage. This is extremely valuable and pays for ongoing expenses (rent, salaries, etc.) if you’re unable to operate or are forced to temporarily relocate after a covered loss (e.g., a fire).
Workers' compensation insurance: This protects your employees should they be injured on the job. It will cover everything from medical care to lost wages until your employee can be back at work.
Employment practices liability coverage: This is specifically designed to protect employers from lawsuits brought by employees. It provides coverage for many situations that general liability insurance does not.
Cyber liability insurance: This protects your business in the event of a data breach. As a consultant, you'll be collecting a variety of personal information and data from your clients, and should someone hack into your computer systems, you'd be exposing your clients information and their business information.
Commercial auto insurance: Commercial auto, or hired or non-owned commercial liability coverage protects your business while you're traveling to and from job sites. Imagine driving to a conference room you're helping design with a car full of audio and video equipment and you get in an accident. Your commercial auto insurance will cover the damage to your vehicle as well as the property inside.
Find Audiovisual Consultant Insurance Quotes Today
Whether you run a small, independent, one-man shop out of your attic or a larger consultant firm, there are plenty of options out there to get you the coverage you need. When comparing quotes from multiple highly rated insurance companies, be sure you are using an apples-to-apples approach for evaluating the coverage.
One company may not offer the exact same coverage, limits, or exclusions as the next — so don’t decide based on cost alone. You may find the less expensive proposal offers lower limits or inferior coverage, leaving you with unwanted gaps.
A simple solution that will end up saving you loads of time in money is by going with an independent insurance agent from our network.
The Benefits of an Independent Insurance Agent
Business insurance can be complicated, especially when you're a consultant who works with a variety of other team members. You want policies and programs that are tailored to the specific type of business you run and the services that you offer. Only an independent insurance agent can find proposals from multiple reputable insurance companies who specialize in audiovisual consultants and related businesses.
A TrustedChoice.com agent will act as your trusted adviser who will have your long-term best interests in mind. Contact an Independent insurance agent today.