Working as a graphic designer is an exciting and creative job but like other professions, it has its own risks. Some you probably wouldn’t expect. Clients invest in your artistic talents and have high expectations when it comes to you delivering on projects. When things don’t go to plan, that’s when your business insurance comes into play.
We’ve put this simple guide together to help graphic designers get a better understanding of the different types of business insurance to consider and how they can help protect your business.
Why do graphic designers need to consider insurance?
There’s a lot of pressure to get the job done right as a graphic designer and the last thing you want is an unhappy client claiming against you. From going over budget, under-delivering on the product or having your equipment stolen, things can go wrong when you least expect it. Having the appropriate business insurance in place is your safeguard in these scenarios to protect your finances and potentially also your reputation.
What types of insurance to consider
Let’s take a look at the main types of insurance to consider as a graphic designer.
Professional Indemnity Insurance*
The highly creative graphic design industry means clients seek professional skills for a variety of projects, from small logo designs to large scale publications and much more. No matter how much pride and care you take in delivering your work, creative visions are subjective and there is always the risk of an unhappy client making a claim. This is why Professional Indemnity insurance is an important coverage to consider.
Professional Indemnity (PI) insurance is a 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. Professional Indemnity insurance will also assist with the legal costs associated with responding to or managing claims which are covered by the policy.
Public Liability Insurance*
Whether you are interacting with clients at your business premise or you are out visiting them, Public Liability insurance can protect you anywhere within Australia. It provides coverage for you and your business in the event a customer, supplier or a member of the public are injured or sustain property damage as a result of your negligent business activities.
To make your design projects come to life, you need your tools of trade to help produce them. Business assets like your computer, design software and other equipment are essential. Without them how would you be able to get the job done?
Contents insurance covers your business contents or stock at your premises if they were damaged in a fire, storm or due to malicious damage or some other defined event listed in the policy.
Portable Equipment Insurance*
Even when you’re out meeting clients, you need your equipment like your laptop to help illustrate and share your concepts. Just because you’re out of your office environment doesn’t mean you can’t insure your valuable business assets.
Portable Equipment insurance (also known as General Property insurance) covers you for loss and damage to items of portable equipment associated with your business. These can include tools of trade and items of stock.
Specified portable equipment can include items such as:
- Photographic or video equipment
- Mobile communication equipment, including telephones and radios
- Electronic equipment, including computers, diaries, GPS units
- Accessories for the items listed above
Personal Accident and Illness*
As a small business owner, one of the last things you plan for is being off work due to illness or injury. The impact of not having an income can affect not only your business but your personal life too.
Accidents can happen even in the most professional and organised working conditions. Should the unexpected happen, Personal Accident and Illness insurance can help cover your income** if you’re unable to work due to illness or injury.
Sort out your insurance
At BizCover we are all about making insurance easy. Simply jump online or give us call to access multiple quotes from some of Australia’s leading insurers, getting your business covered in minutes.
*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.
** Maximum limits apply