Graphic designers plan, design and manage the production of a wide variety of visual communication devices, including printed materials, packaging, websites, advertising, signs and corporate logos. Businesses in the graphic design industry may include these:
Graphic designers must have an artist’s flair and the technical savvy to produce computer-generated images and designs, websites and even videos. While the graphic design business may seem low-risk, there are some very serious exposures that you need to be aware of and should take steps to mitigate even if you are a sole proprietor with a home-based business.
Whether you are an independent designer or a design firm owner with employees and a significant amount of business property, you need comprehensive graphic designer insurance that is tailored to your needs.
Graphic designer insurance is made up of several types of standalone or packaged policies that are customized for your unique exposures.
Commercial general liability (CGL) insurance offers broad coverage for lawsuits related to third-party bodily injury and property damage. For a graphic designer, this might mean:
CGL insurance covers the cost of medical bills and replacing damaged property, as well as your legal defense if you are sued. If you are required to pay a settlement or judgment as a result of a lawsuit, your general liability policy pays up to the limits of your policy.
Commercial property insurance protects your business property whether it is a building that you own or the contents of your office space (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 valuable coverage pays for ongoing expenses (rent, salaries, etc.) if you are unable to operate or must temporarily relocate after a covered loss (e.g., a fire).
Your graphic design business likely qualifies for a business owners policy (BOP), which is a convenient package policy designed for small, low-risk businesses. With a BOP, you can have liability, property and business interruption coverage in one affordable package customized or your business.
Talk to your independent insurance agent about whether you qualify for a BOP.
Your clients rely on you for your skills and expertise. Along with your artistic abilities, you provide advice on strategy and branding and create materials that likely become the public face for your clients. A mistake or negligence on your part could harm a client’s reputation and even cause financial harm.
Even if a negligence claim against you is unfounded, you still have to defend yourself if you are sued. Graphic designers professional liability insurance protects you if your advice or services cause financial harm to a client. You can be sued for any number of reasons, including the following:
If you don’t have the right graphic designer insurance coverage, your personal assets could be at risk. Your graphic designers professional liability policy pays for your legal defense, including attorney fees, court costs, and any settlements or judgments that you must pay.
If you work out of your home full-time or even just some of the time, you may be uninsured or underinsured if you think you have coverage under your homeowners insurance policy.
A typical homeowners insurance policy limits coverage for office equipment to around $2,500 — not nearly enough to replace a computer, printer, phones, desk, fax, scanner, or other equipment or supplies you need for your graphic design business. And your homeowners policy does not cover business liability, loss or damage of business records, and damage caused by business interruption.
If you have a home office, you have several options in order to make sure you have appropriate coverage:
If you own a larger graphic design studio with employees, you may have the need for additional graphic design insurance. Talk to your independent Trusted Choice® Agent about your need for the following:
Whether you are venturing out as an independent graphic designer or the owner of a larger firm, a Trusted Choice agent can get you fast quotes for tailored graphic designer insurance. Our independent agents are not locked in to working with one insurance company, and they know that a one-size-fits-all approach is never best. You need tailored coverage that addresses your unique business risks and a local agent who will get to know you and be your trusted adviser for the long term.
When comparing quotes from multiple highly rated insurance companies, be sure you are using an apples-to-apples approach for evaluating the coverage being offered. One company may not offer the exact same coverage, limits or exclusions as the next — so don’t make your decision based on cost alone. You may find the less expensive proposal offers lower limits or inferior coverage, leaving you with unwanted gaps. Your independent agent can help you evaluate any quotes that you receive so you can make the best choice for your needs and budget. Contact your local agent today.