Billboard manufacturers are part of the sign manufacturing industry. Most billboard companies build their own signs and place them on highly visible properties in order for advertisements to be seen by passers-by.
The billboard manufacturing process is complex and dangerous. Your employees can be injured, your billboards can be destroyed or damaged, and worse, you can cause property damage or injuries to property owners or bystanders while you’re installing your signs.
Risks for employee injuries, equipment breakdowns, fire, weather damage, and other types of interruptions or unforeseen events are a daily concern for billboard manufacturers. An independent insurance agent can help you build a comprehensive business insurance program designed to address your unique needs.
Why Do You Need Billboard Manufacturing Insurance?
Billboard manufacturers typically lease space from private property owners in order to install their signs in visible locations along busy roads and highways. This means that many sign installations take place on someone else’s property, increasing your risk for being sued if you cause some kind of damage or injury.
What’s more, you face numerous risks during the manufacturing process, including property damage to your tools and equipment, and worker injuries.
Billboard manufacturing insurance can help you cover many of risks, so if you’re faced with a covered loss you can recover and continue to operate.
Property Insurance for Billboard Manufacturers
Billboard manufacturers use concrete, steel, wood, plastics, lacquers, paint, electrical components and more to fashion a variety of signs and displays. Your manufacturing facility may have a wide range of products and materials on hand — including many that are flammable or otherwise dangerous to individuals or property.
What’s more, individual billboard components are often moved to the actual sign location and then constructed on-site, leaving room for losses in transit and at the job site.
Commercial property insurance: This protects your building and other property in the event of a covered loss.
If a fire, vandalism, smoke, theft, or another covered peril (cause of loss) damages your property, commercial property insurance provides coverage for lost inventory, industrial equipment and machinery, warehouses and office space, office equipment, computers, valuable papers, and more. It may also provide coverage for neighboring facilities and completed products housed on your premises.
Business interruption coverage: This is usually included in your commercial property insurance. It protects your earnings and helps to pay expenses if your business is unable to operate because of damage caused by some type of covered disruption (fire, hail, wind, equipment breakdown). And you can expand your business income policy to include coverage for breakdowns in utility services (water, electrical) that force you to temporarily close your doors.
You also likely need coverage for billboard components, tools, and other equipment as it is being transported from place to place, once it leaves your premises.
Inland marine insurance: This is designed to protect you from losses when cargo is damaged in transit. Any piece of property that is moved from one location to another can be covered with an inland marine policy. The best way to ensure that you find the right type of inland marine coverage for your needs is to work with an independent agent who has experience working with billboard manufacturers.
Equipment breakdown insurance: This is often referred to as boiler and machinery coverage, and is another insurance you might need if you use certain types of machines or heavy equipment to manufacture billboards. Equipment breakdown insurance supplements your property insurance, and it covers certain costs associated with accidental breakdown of machinery or equipment and the resulting property damage or loss.
Equipment breakdown coverage typically covers breakdowns due to power surges, motor burnout, boiler malfunction, and even operator error. You can obtain coverage for mechanical and electrical equipment, computers and computer systems, boilers, and other types of pressure equipment.
Boiler and machinery insurance covers repair and replacement costs as well as business interruption costs related to a breakdown of covered machinery or equipment.
Why Do You Need Workers’ Compensation Insurance?
The safety of employees in a manufacturing environment is of utmost importance. Your workers may come into contact with heat and welding tools, cutting tools, heavy machinery, and numerous dangers to fingers, toes, eyes, and other appendages. Employees may work on ladders or lifts as they construct or install billboards high off the ground. Those who regularly work with hand tools are particularly vulnerable to repetitive motion injuries. And constant exposure to lacquers, paints, and other chemicals also can be potentially dangerous to workers.
Keeping your employees safe from work-related injuries and illnesses is important for your employees’ long-term health and satisfaction, as well as your company’s financial viability. Excessive employee injuries and illnesses can be financially devastating for your business.
Workers’ compensation insurance: This provides insurance coverage when accidents happen at the workplace. It ensures that the injured worker gets medical care and income protection while unable to work.
Workers’ compensation insurance provides benefits to injured workers regardless of who is at fault for their injury. And it will provide death benefits for a worker’s dependents if there is a fatality.
Liability Insurance for Billboard Manufacturers
You can protect your operations, products, and customers with a variety of liability policies designed for billboard manufacturers.
General liability insurance: This is another insurance for occasions in which your business is negligent and causes bodily injury or property damage to a third party. Your commercial general liability (CGL) policy protects you in the event of third-party lawsuits, with coverage for attorney fees, court costs, settlements, and judgments up to the limits of your policy.
You CGL policy would apply in cases where you cause damage to private property while you’re installing a billboard, or if you injure someone while installing a billboard or in any way related to your work.
Commercial auto insurance: This covers your vehicle fleet and drivers in the event of an accident or other vehicle damage that occurs. Commercial auto insurance provides coverage for property damage and bodily injury liability claims, vehicle damage, and medical bills, as well as any costs related to lawsuits due to auto accidents involving your vehicle fleet.
Commercial umbrella insurance: This is another policy you may want to talk to your independent insurance agent about. Commercial umbrella insurance provides an extra layer of liability protection to any of several other liability policies you might have.
By purchasing one commercial umbrella policy, you essentially get higher limits on all of those policies, rather than having to raise the limits on each policy individually. Commercial umbrella insurance kicks in when the limits of your other applicable insurance policies have been exhausted, protecting you in the event that a claim exceeds the amount of coverage available from any other applicable policy.
How Much Does Billboard Manufacturer Insurance Cost?
Insurance for billboard manufacturers can range from several hundreds of dollars per month to thousands. It depends on these criteria.
- The size of your business
- The number of employees
- The types of tools and equipment you own and their value
- How many trucks and drivers you have
- Your compliance with safety programs and your history of worker injury claims
Ultimately the types and amounts of coverage you need to adequately cover your risks will dictate the cost of your coverage.
Find and Compare Quotes
An independent agent can work with you one-on-one to determine the types and amounts of coverage you need. Your agent can get quotes from multiple insurance companies so you can evaluate the cost and coverage options and make the best choice.
Benefits of an Independent Agent
Our agents simplify the search process for finding the right billboard manufacturer insurance. They’ll walk you through the handpicked policy options and explain the details.
Most importantly, they’ll be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.
The Lowdown on Online Quotes
Online quotes can be tempting. They are fast and easy to get — but are they accurate? And are you getting quotes for the right coverage? For business owners, choosing speed over accuracy can cost you.
Online quotes can’t and don’t see the whole picture. They can omit important coverage that will leave you devastated if something unexpected happens. And they can leave out cost-saving opportunities that an agent can help you take advantage of.
Instead of getting an online quote, find an independent insurance agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs.
TrustedChoice.com Article | Reviewed by Paul Martin
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