Insurance for Marketing and Multimedia Professionals

Insurance for Marketing and Multimedia professionals

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Why do Marketing and Multimedia Professionals need Business Insurance?

Running your own marketing and multimedia business is fast paced, exciting and not a profession without its challenges. With so much going on, it’s important to take the time to consider the types of risks your business may be exposed to and how business insurance can provide the protection your business needs.

Below we take a look at some of the typical reasons why you may need to consider business insurance and how it can protect your marketing and multimedia business for the long haul.

  • You may need Professional Indemnity insurance* to become a member of professional body and boards within the marketing and multimedia industry. Always check what minimum of amount cover you are required to have too.
  • If you are renting your business premises, it may be a requirement of by your landlord to have a certain level of Public Liability insurance* in place
  • Interacting with clients either at your office premises, home-based office or out and about visiting them means there is a risk for a claim to occur. This is where Public Liability insurance* can provide peace of mind
  • Consider protecting your marketing and multimedia equipment with Portable Equipment insurance* if you take things like your laptop, tablet, cameras etc out on the road with you.
  • If you work on contracts certain types of business insurance may be a requirement, make sure you have these all sorted and in place before you sign the dotted line.

As you help your clients increase their leads, sales and profits, we help you get your insurance to protect your business against potential pain-points. Being a marketing professional, we don’t need to convince you that comparing insurance from multiple leading insurers in the one online marketplace is the smart way to go.

Did you Know?

Intellectual Property rights are one of the biggest exposures for marketing professionals. Make sure your professional indemnity covers inadvertent breaches of intellectual property or mistaken theft.

Marketing and Multimedia professionals covers a broad range of professions.

We help insure many Marketing and Multimedia professionals and businesses such as:

Advertising AgentsBroadcasters
Advertising ConsultantsFundraising (excl. for investment purposes)
Graphic Marketing and Multimedia ProfessionalsWebsite Marketing and Multimedia Professionals
Market ResearchersMarketing Consultants
PublisherPrinters
SEO ConsultantsSign Writers
Public Relations Consultants

Insurance for Marketing and Multimedia Professionals

Professional Indemnity Insurance

Professional Indemnity insurance is one of the vital types of cover you need to consider as a marketing and multimedia professional. When you work on projects for your clients there is always a risk of things going wrong. Some examples are going above the agreed budget, exceeding deadlines and miscalculations just to name a few. That’s where Professional Indemnity insurance can help.

Professional Indemnity (PI) insurance is an important form of protection for businesses that provide specialist services or professional advice. It is designed to respond to claims against your business for losses as a result of actual or alleged negligent acts or omissions in the provision of your professional service or advice. PI Insurance will also assist with the legal costs associated with responding to or managing claims which are covered by the policy.

What is typically covered?

  • Damages and claimant costs awarded against the insured
  • Legal and defence costs
  • Claims investigation costs
  • Inquiry attendance costs
  • Public relations costs

What is typically NOT covered?

  • Intentional damage
  • Known claims and circumstances
  • Fraud and dishonesty
  • Bodily injury / property damage

Protect your business today.

Public Liability insurance

Interacting with third parties like your clients, suppliers and members of the public means there is always a chance for a claim to occur. Being a step ahead of the game and having Public Liability insurance in place means it is one less thing you need to worry about when running your marketing and multimedia business.

Public Liability insurance is designed to provide protection for you and your business in the event acustomer, supplier or a member of the public are injured (and not covered by the Accident Compensation Commission (ACC) ) or sustain property damage as a result of your negligent business activities.

What is typically covered?

  • Compensation for accidental damage to third party property
  • Compensation for personal injury or death to third parties where the ACC does not provide cover
  • Legal and defence costs

What is typically NOT covered?

  • Injury to your employees
  • Damage to your own property
  • Compensation for personal injury whereby cover is provided by the ACC
  • Known claims and circumstances

Business Insurance*

Your clients are your bread and butter when it comes to keeping your marketing and multimedia business going, but take a moment to consider how much you rely on your business assets to help get the job done.

Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance policy can also cover your portable equipment, and loss of revenue due to business interruption in specified circumstances.

There are a few different types of Business Insurance options to consider when protecting your marketing and multimedia business, these may include cover like:

Contents*: Covers your business contents or stock if they are damaged in a fire, storm or due to malicious damage or some other defined event listed in the policy

Building*: Cover for loss and damage to buildings you own, as a result of an insured event (such as fire, storm, wind).

Business Interruption*: Business interruption insurance provides cover for the loss of income and increased costs of operating your business caused by a specified insured event (such as property damage or fire). It is also designed to assist your business to recover from an insured event by paying ongoing expenses (such as wages or rent).

FAQs

How much does marketing and multimedia insurance cost?

Just like when you quote your clients for projects, no two jobs are ever the same price. Each come with their own unique requirements and scope, which is a lot like the process when it comes to calculating the cost of a business insurance policy. There are various factors which are taken into consideration, these are some of the main ones.

  • The size of your business
  • How many staff you have?
  • The type of marketing and multimedia business you are running
  • The type of coverage you take out
  • Your excess
  • The level of cover
  • Your claims history
  • Location of your business

Claim example

A marketing firm were appointed on a promotion campaign for a national product. They employed a freelance artist to do some design work for them. About six months after the campaign, they received a letter from an aggrieved party who claimed they had stolen his artwork. The professional indemnity policy assisted in the legal defence of the matter and ultimately paid for a relatively small settlement.

* This information is a general guide only and does not take into account your objectives, financial situation or needs. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.

The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Cover for a claim will depend on the specific circumstances around the loss and would be subject to the terms and conditions of the policy concerned.

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Need Help?

Visit our Contact Us page, where you can find out how to get in touch with one of our business insurance professionals. 

You can also access quick links to our self-service portal, where you can download your Certificate of Currency, update your payment details, amend your cover and download your policy documents. 

 

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