For your best business protection and savings, we recommend bundling GL with some other important coverages on one Business Owners Policy!
Publicity is very important for all kinds of businesses. PR firms help create the noise and trend needed. For one, these businesses are responsible for enticing the crowd to watch a certain film. Â
Like any other business, public relations businesses face various risks and uncertainties that could lead to significant financial losses. Like for example, a marketing professional might sue for copyright infringement or reputational harm. That's why public relations agencies and professionals must have adequate insurance coverage.Â
Public relations insurance or PR insurance protects businesses from potential liabilities arising from their operations. This specialized coverage covers a wide range of risks, from professional negligence and errors to lawsuits and property damage.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $300,000/$1,000,000 | $300,000 | $100,000 | $100,000 | $1,000,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | No | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Deductible | $0 | $0 | $0 | $0 | $0 |
This type of insurance for PR agency covers third-party bodily injury, property damage, and advertising injury claims. This insurance can help cover legal fees, settlements, and judgments if your business is sued for one of these claims.
Coverage limits for general liability insurance typically range from $500,000 to $2 million, but higher limits may be available depending on your business's needs.
A client or visitor trips and falls in your office, injuring themselves and requiring medical attention
You accidentally damage a client's property while setting up for a public relations event
A competitor accuses you of making false or misleading statements in advertising or marketing campaigns
HNOA coverage–Hired and non-owned auto liability insurance is an add-on to general liability insurance that covers the cost of accidents caused by a hired or borrowed commercial vehicleÂ
Cyber liability insurance–As a public relations professional, you may handle sensitive client information online. Cyber liability insurance can help protect your business from losses due to data breaches
General liability insurance can benefit a wide range of businesses in the public relations industry, including PR agencies, independent publicists, marketing and advertising firms, and event planning companies.Â
| CoverWallet | NEXT | Thimble (Best) | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $2,000,000 |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Yes | Can be included | No |
| Deductible | $500 | $500 | $500 | $50/$10,000 | $500 |
Professional indemnity insurance, also known as public relations professional liability insurance, is designed to protect PR agencies and professionals from financial losses due to claims of professional negligence, errors or omissions, and other liabilities. This insurance covers legal defense costs, settlements or judgments, and other related expenses.
The coverage limits can vary depending on the insurer and the specific policy but typically range from $1 million to $5 million.Â
Crisis management coverage to cover the costs of managing a crisis or reputational damage incident
Media liability coverage to cover the costs of defending against defamation or other media-related claims
Yes, this PR insurance can cover claims made by former clients as long as the policy was in effect when the alleged incident occurred. Maintaining continuous coverage is essential even after a client relationship ends, as claims can still be made after.
Media liability insurance grants protection if your public relations business is sued for copyright infringement, libel, defamation, and other related offenses. Note that this is a type of errors and omissions coverage that can be availed as an endorsement to professional liability insurance.Â
The coverage limit of media liability insurance is $1 million-$2 million per occurrence and aggregate. Higher limits are available upon request.Â
A client claims that your public relations advice caused them to lose business or suffer financial damages
You accidentally publish false information that damages a client's reputation
A client alleges you violated their privacy rights by sharing sensitive information with the media
It’s by considering various factors such as the size and nature of their business, the type of media they use, and the potential risks and liabilities associated with their activities. It is also important for businesses to assess their past and potential exposure to media liability claims and the financial impact of such claims.
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| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $260,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Contents coverage limit (minimum) | $50,000 | $22,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Accounts receivable | Excluded | Excluded | $5,000/10,000 | Included | Excluded |
| Money and securities | Excluded | $2,500 | $1,000 | Included | Excluded |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Business interruption floater | Excluded | Included | Included | Included | Excluded |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Excluded |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Included | Excluded |
Commercial property insurance is a type of insurance policy that provides coverage for the physical assets of a business. This policy protects the building, equipment, inventory, and other property the business owns or leases from damage or loss due to fire, theft, vandalism, riot, and other covered perils.
The coverage limits for Commercial Property Insurance vary depending on the policy chosen by the business. The limits usually range from $500,000 to $5 million but can be higher for larger businesses or those with more valuable property.
Damage to the building or property caused by fire, theft, vandalism, or weather-related events like floods or hurricanes
Loss of inventory due to theft, damage, or spoilage
Interruption of business operations due to property damage or loss, resulting in lost income or extra expenses
Business interruption coverage to compensate for lost income during downtime caused by covered perils
Equipment breakdown coverage to protect against repair or replacement costs of damaged equipment
Flood insurance for protection against damage or loss due to flooding, which is not typically covered under commercial property insurance policies
Commercial property insurance is generally not required by law for public relations agency. However, some landlords may require tenants to carry this insurance as a condition of their lease. Additionally, many lenders may require businesses to carry this insurance as a condition of obtaining a loan.
| CoverWallet | Thimble (Best) | NEXT | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| General liability aggregate limit | $2,000,000 | $2,000,000 | $2,000,000 | $300,000 | $1,000,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $500,000 | $260,000 | $25,000 | $75,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes | Yes |
A business owner’s policy (BOP) is a comprehensive insurance policy specifically designed to meet the insurance needs of small to mid-sized public relations businesses. A BOP combines two types of coverage: property insurance and liability insurance.
The coverage limits for a BOP vary depending on the policy chosen by the business owner. The limits usually range from $1 million to $5 million.
Damage to property caused by natural disasters, such as fires, floods, or earthquakes
Bodily injury or property damage caused by the public relations business or its employees
Libel or slander claims against the public relations business or its employees
To file a claim under a BOP policy, you should contact your insurance provider immediately after an incident. Your provider will guide you through the claims process and provide you with the necessary forms and documentation to complete.
| NEXT | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 | $5,000-$10,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No | Yes |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 | $0 |
Tools and equipment insurance for public relations businesses covers tools, equipment, and other items necessary to operate. This insurance policy protects the business owner against financial losses due to damage, theft, or loss of their tools and equipment.
The limits are determined based on the value of the insured equipment and the coverage amount chosen by the policyholder. Generally, coverage limits can range from $5,000 to $250,000 or more.
Theft of tools and equipment from the business premises
Accidental damage to tools and equipment during use
Damage to tools and equipment caused by a natural disaster, such as a fire, lightning, storms, or winds
Business interruption coverage–This add-on covers the loss of income that may result from equipment breakdown or damage. It compensates the business for the lost revenue when repairs or replacements are being done
Transit coverage–This add-on covers the tools and equipment while they are being transported to and from job sites. It can protect the business from the financial loss that may result from damage or theft during transportation
Typically, this insurance policy covers all types of tools and equipment used in the public relations business, such as cameras, computers, printers, telecommunication equipment, and other office equipment. The insurance coverage can be customized to protect specialized tools and machinery utilized explicitly within the public relations sector.
Commercial auto insurance is a type of insurance policy that provides coverage for vehicles used for business purposes. Public relations businesses may have a fleet of vehicles for various purposes, such as transporting employees, delivering goods, or attending events. In such cases, commercial auto insurance can protect the business from financial loss in the event of an accident.
If you or an employee of your PR agency gets into an accident while driving a company-owned or leased vehicle, this policy will cover the damages and injuries resulting from the accident
If your PR agency uses hired or non-owned vehicles for business purposes, you can add this endorsement to your commercial auto policy to cover any resulting accidents
If you or your employees get injured in a company-owned or leased vehicle, your commercial auto insurance policy can help cover the medical expenses resulting from the accident
Commercial auto insurance can cover various vehicles used for business purposes, including cars, vans, trucks, and trailers. However, the specific coverage limits and add-ons may depend on the type and usage of the vehicle. For example, a company-owned car used for transporting employees may have different coverage limits than a truck for delivering goods.
