What is business and professional indemnity insurance for graphic designers?*
Business and professional indemnity insurance requirements for graphic designers include:
- Professional indemnity
- Public liability
- General property
- Business Interruption
- Small business "business pack"
- Personal health and sickness
Do graphic designers need professional indemnity insurance?
Professional indemnity insurance, also known as errors and omission insurance, is a key cover requirement for graphic designers that will help you sleep easier at night.
Graphic designers need Professional indemnity insurance as it can help pay damages suffered by a client based upon your services, advice or negligence. It may also cover legal bills for ambient claims against you when you have done nothing wrong.
When a client's project goes wrong, and/or they don't meet their objectives, the client may come looking for someone to blame and foot the bill. You could end up liable for a bill far greater than the fees you charged.
If there is another party between you and the client, such as an advertising agency, the lines of responsibility become even more blurred. Who is responsible? Professional indemnity insurance may cover damages and legal bills for graphic designers.
Ultimately its up to each graphic design freelancer, studio head, or small business to decide what cover they need and what cover you can afford. Where you are located ( home or office ), number of staff (sole trader or business with employees ) and type of clients ( direct, large or small, agencies) are some of the factors that will influence your cover choices. The team at SMART Business Insurance can assist in answering any of your coverage questions and help your find suitable and affordable insurance for your graphic design activities.
Do graphic designers need public liability insurance and other covers?
- Public Liability : public liability is a core business insurance cover – its required for all types of businesses big and small- including graphic designers to cover you against damage to a third person or their property
- General Property – eg: loss of cameras, laptops, computer equipment.
- Business Interruption - to protect against loss of business income.
Public liability, general property and business interruption may be able to bundled into a "business pack" for affordability and ease of managing.
What type of graphic designers need professional indemnity insurance ?*
All graphic designers that charge a fee for advice or a service need professional indemnity insurance.
For example, any graphic designers performing the following services need professional indemnity insurance.
- Corporate identity
- Graphic design
- Logo Design
- Website design
- Email templates
- Web ads
- Photo Editing
- User interface design
- Print Design – (catalogues, brochures, flyers, posters)
- Direct Mail
- Image Editing
- Banner Ad Design
- Business Card Design
- Promotional item design (t-shirts, caps, pens)
How much does insurance cost for a Graphic Designer*
For many self-employed graphic designers a $1 million professional indemnity insurance policy starts from $860.
Graphic designers business insurance cost: from $1180 for combined $1 million professional indemnity and $5 million public liability insurance.
Please note : pricing may vary significantly from the above based on your size, clients, experience and specific graphic designer activities. Graphic designers working on large commercial clients and government typically represent greater risk; require greater limits and higher premiums.
For graphic designers professional indemnity and public liability insurance cost for your business TALK to a SMART Business Insurance broker on 1300 542 573.
How do I get a graphic designers professional indemnity Insurance quote?*
Depending on the nature of your graphic design activities, the size of your projects, the size and type of clients you service and whether engage sub-contractors, different insurance companies and underwriters are likely to provide suitable and affordable cover.
For a suitable and affordable business and professional indemnity graphic designers insurance quote TALK to a SMART Business Insurance broker on 1300 542 573 or contact us online.
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