Advertising Agency Professional Liability Insurance

What Advertising Agencies Need To Know About Insurance Coverage

With the recent influx of new businesses and professions in the Ontario area, it should not be a major surprise that there is a large demand for advertising agencies. Everyone from the small startup businesses to the well-known celebrity needs an agency to represent and show off his or her marketing campaigns. While the industry might be booming and exciting at the same time, just the slightest mistake on your end could make your client suffer huge losses. When a situation like this occurs, who do you think the client is going to seek repercussions from? They are going to come after you and your business and this is where your advertising agency professional liability insurance can come in handy.

Professional liability insurance (PLI), also known as error and omissions insurance, is a specific type of insurance policy that was designed specifically for the above-mentioned situations. When a professional mistake occurs or your client makes scrupulous claims, this policy will kick in and protect you and your business in a variety of different ways, up to your policy limits and for the approved coverages. Professional liability insurance is a must for any advertising agency. Whether you are at fault or not, the policy can protect you from legal fees and other lawsuits that might arise throughout process.

advertising agency professional liability insurance

Other Coverages That Need To Be Considered in addition to professional liability insurance for Advertising Agencies

It is true that professional liability insurance can go a long way to protecting and securing the future of your advertising agency, but unfortunately it is probably not the only coverage that you are going to need. The exciting world of advertising can be a tricky business and this is why it is important to ensure you are always fully insured with the proper policies. Below, you will learn about some of the other policies that you might want to consider for your advertising agency.

General Liability Insurance in addition to the basic professional insurance package

General liability insurance is another necessity, because it is a type of policy that can protect your company when you experience losses due to unexpected events. For instance, if your client slips and falls in your place of business and you are forced to pay the medical costs, general liability insurance can assist with those costs. If you make an advertisement for a product or company and it turns out that it hurts that product or company and causes them to suffer losses, general liability insurance can cover those losses. Most advertising agencies prefer to choose a general liability policy with a limit of $1 to $2 million.

Commercial Auto Insurance – Owned/Non-Owned

It is safe to assume that you won’t always be in the office. In fact, there might be times when you need to meet clients in the field. Commercial auto insurance can protect you, your employees, and your business anytime you experience any financial hardships from auto accidents, while driving a company vehicle on company time. This type of policy can cover losses from accidents, medical bills and other auto damages that might be experienced during the accident.

Most advertising agencies with a lot of employees tend to invest in commercial umbrella policies, which pretty much just extends the auto insurance coverage to higher liability claims. In most cases these policies can provide as much as $1 million in liability for lawsuits, medical bills, and other accident-related damage.

What You Can Expect To Pay For Your Advertisement Agency Professional Liability Insurance Policy

Now that you know a little bit about the different types of policies available and how they can protect your business, you are probably wondering just how much you are going to have to dish out for these policies. Just keep in mind that every insurance provider in Ontario is unique. While some might quote you lower prices, they might not offer the best type of coverage for your business. In addition to this, there are a variety of other factors that can increase or decrease your professional liability insurance costs.

  • Professional Liability Insurance – When it comes to professional liability insurance in the advertising world, you can expect to pay anywhere from $800 to $900 a year for a $1 million policy.
  • General Liability Insurance – As an advertising agency in the Ontario area, if you are looking for one to two million dollars in coverage, you can expect to pay less than $500 each year. While this might seem a bit high, it is a much better rate when compared to what other industries have to pay for this type of coverage.
  • Commercial Auto Insurance – When it comes to an umbrella auto insurance policy the price can vary depending on the number of vehicles you have insured, previous driving records, and the type of vehicles that you are driving. However, to give you a general idea, you can probably expect to pay right around $1500-$2500 a year for a $1 million policy.

Applying For Insurance

There are now a variety of different ways that you can apply for advertising insurance. You can visit our website and get a free quote online in just a matter of minutes. You can also e-mail one of our professional agents, or you can call the toll-free number on our website to speak with a live professional.

 

FAQ before buying insurance for Advertising Agencies

 

Other professions we also provide insurance for:

Academic Testing Centres
Accident Investigation
Accident Prevention Consultants
Accountants
Actuaries
Adjusters
Adoption Agencies
Advertising
Advertising Agencies
Advertising Agents & Services
Aerial Mappers
Agents
Agrologists
Agronomists
Alarm Monitoring Services
Allied Health Professionals
Alternative Dispute Resolution Firms
Alternative Energy
Answering Services
Anthologist
Anthropologist
Appraisers
Arbitrators & Mediators
Arborists / Tree Surgeons
Archaeologists
Architects
Architects & Engineers
Architectural technicians and technologists
Associations
Attorneys
Auctioneers, Auction Houses
Authors
Bailiffs
Blueprint & Photocopy
Boat Registrars
Bookkeepers
Broadcasters
Building Designers(Bill 124)
Business Brokers/Managers
Business Consultant
Business Enterprise Agencies
Business Training Courses
Cabling Designers
Camera & Photo Supply Stores
Careers Advisory Service
Catering Consultancy
Cereal Growing Advisors
Chambers of Commerce & Trade
Charities
Chiropodists
Chiropractors
Civil engineers
Claims Adjusters & Administrators
Collection Agencies
Commercial Printer
Communication Consultants
Company Formation
Company Search Agency
Conference & Event Management
Conference Facilities & Services
Conservation Consultants
Conservation Organizations
Consultants
Consumer Organisations
Contest Managers
Contractors Accountants
Convention Planners
Copywriters
Counselling & Advice Services
Court Reporters
CPA/CMA
Credit Reference Services/Bureaus
Custom House Broker
Customs & Forwarding Agents
Data Processing Services
Database Managers
Day Spas
Decorators – Interior
Dental Laboratories
Designers
Dieticians (Consulting)
Directors
Directors and Officers
Documentary creators
Employment Agencies
Employment Agencies/Recruiters
Employment Placement Agencies
Energy Audits & Assessments
Engineers
Environmental Engineers
Event Planners
Excess & Umbrella Liability
Filmmakers
Fitness Clubs
Foreign Legal Consultants
Holistic Professional
Home inspectors insurance
Immigration Consultants
Independent Contractor
Industrial Designers
Information Technology
Interior Designers
IT Contractor
IT Specialist/Technician/Programmer
Journalists
Lawyers
Lawyer’s Excess Professional Liability
Long Term Care
Management Consultants
Mediators
Medical Clinics
Medical Devices
Medical Professionals (Malpractice Insurance)
Medical Related
Medical Student Malpractice Insurance
Mortgage Brokers
Multimedia designers
Naturopaths
New Media
Occupational Health and Safety Consultants
Paralegals
Photographers
Placement Agencies
Podiatrists
Private Investigators
Process Servers
Product Designers
Professional Entertainers
Professional Organizer
Professionals Liability
Project Managers
Property Managers
Publishers
Publishers and Printers
Quality Control Consultants
Recruiters
Recruitment and Employment Agency
Recruitment Consultants
Research & Development
Roofing Consultants
Safety Engineers
Service Organizations
Solar & Wind Farm Engineers & Consultants
Spa Package
Structural Engineers
Sub-Contractor
Surveyors
Tax Prepares
Technology Companies
Therapist Professionals
Town / Urban Planners
Training Providers/Trainers
Translators etc.
Travel Agencies
Travel Agents
Travel Agents, Tour operators
Web Designers
Web-Site Designers
Workplace Engineers & Consultants