If there is one industry out there that has garnered a bad name over the years, it has to be telemarketing. While there are tons of other careers with similar duties, it is telemarketers that people had to get phone calls from. Heck, if you are lucky, you will just get hung upon. This is the best-case scenario. Worst case scenario and you are going to get an earful. That aside, telemarketing certainly is one lucrative industry. The right individuals stand to make thousands. Just because you think you are good with words, friendly, or a people person, it doesn’t necessarily mean you’ll make a good telemarketer.
Regardless, one needs to be aware of the fact that in telemarketing you are not only at risk of getting cursed out or hearing an earful. You are also at risk of getting sued. This is why it is imperative to obtain the right insurance policies before considering getting into the field. Which policies do you need and how can they protect you?
Types Of Telemarketing Insurance
One might not realize it, but today’s telemarketer faces a lot of risks. Not just getting cursed out, but there is the risk of a major lawsuit. Heck, even the smallest of lawsuits could end up costing you thousands. Just think about it, the case goes to court, it sits there for months, your lawyer has to depose witnesses, you pay court costs, and this is just to only rattle off a few of the potentials. There are potentials for theft, property damage, cyber breaches, and more. The best thing to do is, learn the risks that your business faces daily and the types of corresponding policies that will protect against those risks.
General Liability Insurance
Whether you invest in a variety of policies, all of them, or just a few, you want to make sure that general liability insurance is on the list. Why? Because it is a type of coverage that offers protection from physical harm. Yes, when you think about it, this is a type of coverage that you wouldn’t think you’d need. It is likely that you won’t have to worry about physically harming many customers, but there is always the potential of associates getting injured. Just imagine a mailman delivering mail to your business. He slips and falls on ice. General liability insurance will pay for any of the medical-related expenses. It’ll also pay if the same thing happens to customers or other business associates.
Professional Liability Insurance (E&O)
If you’ve don’t any research at all into insurance for telemarketers, you’ve likely already come across errors and omissions insurance or professional liability insurance. While you’ve likely encountered it, that doesn’t necessarily mean that you understand everything about it. This is one that you certainly want to pay close attention to. Not only because it offers unique protection, but it might be required by law in some areas. This type of insurance offers coverage if there is a professional oversight or an error and omissions with the products and services you are promoting.
Imagine if you are selling vacuum cleaners or a get out of debt scheme. Whether the customer doesn’t give it a chance or it just doesn’t work for them, they can sue you and your business for negligence. Heck, if your employees don’t divulge everything about the products, your customers can sue on grounds of professional oversight. That’s where this insurance comes in.
Commercial Auto Insurance
Once again, commercial auto insurance might not seem like a type of coverage needed, but it is one that can’t be overlooked. Unfortunately, regular auto insurance isn’t enough and if you get into an accident while running a work-related errand, the incident will not be covered. You must have commercial auto insurance to cover commercial vehicles as well as commercial-related incidents.
Working With A Specialist
When all said and done, the best way to safeguard your business is by working with someone who understands the unique risks you face. Insurance providers familiar with the telemarketing industry will be able to do just this and more. They’ll help you devise an insurance package that will potentially protect your business against all foreseeable and unforeseeable threats.
You biggest asset in life is your earning ability. If you are unable to work, you will need to rely on either your savings or borrow money to sustain your lifestyle. When these unfortunate circumstances occur, dependents and spouses are also impacted financially and emotionally.
Disability insurance coverage will provide you a monthly income benefit, usually totaling 70% to 80% of your income, when you are unable to work for a period of time due to injury or illness.
Types of disability insurance
- Long-Term Disability Insurance (LTD)
- Short-Term Disability Insurance
- Key Person Disability Insurance
- Self Employed Disability Insurance
- Mortgage Disability Insurance
- Temporary Disability Insurance
- Supplemental Disability Insurance
Need coverage in effect? Compare the market!
FAQ before purchasing liability insurance
- How much professional liability insurance do I need?
- How do I get a liability insurance policy?
- What does professional liability insurance cover?
- What is the difference between claims made & occurrence form of coverage?
- When will I need to be insured?
- What other professions need this type of insurance?
Other useful posts you should also read
- Canadian insurance companies that provide professional liability insurance
- How does the claims process work if I get sued because of my professional services?
- What is the cost of professional liability insurance?
- How do I apply for a professional liability insurance policy?
- How do I qualify for coverage as a professional service provider?
- What is the purpose of getting insured as a professional?
- How long will it take to get an insurance quote for my business?