Budding Designers Should Get These Types Of Insurance

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If you are inclined towards creative work, you may be interested in trying your hand at freelance graphic or even web design. But once you take your first paying client, you are a business that should consider having good business insurance coverage. Here are types of insurance to think about as a budding designer.

General Liability Insurance

The first option is to have a general liability insurance policy. This is a great option for new designers who can't yet afford to invest in individual coverage plans. A business liability insurance policy provides a little insurance coverage to many areas that your business may encounter, such as being sued by a client or having property damage occur.

Property Insurance

If you have homeowner's insurance, know that it probably won't fully cover your space once it becomes a home office. You might be able to add commercial property insurance to your existing homeowner's policy, or you might need to start a separate policy to cover that space.

Professional Insurance

Professional insurance is necessary to protect your clients against oversights in your business practices. For instance, intellectual property rights are a big area of law that's relevant to your profession. If you are designing a logo for another company and you accidentally plagiarize parts of the design, the other business could get into some serious heat. Your professional insurance will guarantee that these oversights are covered.

Cyber Insurance

Cyber insurance is a good idea for a few reasons. For one, if your computer is hacked into and business or client information is stolen, it could result in losses for many people. If your computer or data is lost and you have work on the computer, your cyber insurance might also protect you and repay you for lost income.

Business Interruption Insurance

Finally, business interruption insurance is a great thing to invest in once your business gets going. It protects you against any unforeseen issues that can cause an interruption in your business. This could be, for instance, property theft or a fire that causes you to lose equipment that's crucial to your business. In these cases, a business interruption policy might loan you the money to get rental equipment as you replace your lost items and also help you replace any lost income during the disruption. In short, having a robust business insurance policy will help to ensure that you have all the tools you need to keep your business successful.

For more information on commercial insurance, check out websites like http://www.northamericanbrkg.com.


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