For your best business protection and savings, we recommend bundling GL with some other important coverages on one Business Owners Policy!
Did you know that the global book publishing market is worth more than $90 billion? The Association of American Publishers (AAP) found that copyright industries employed nearly 4% of the entire US workforce in 2019.Â
With publishers making up a significant part of the economy, they must be vigilant to protect their interests against liability and other damage claims. As a publisher, one of the best ways to protect your business is through the use of publisher business insurance.
You never know when something can go wrong. For one, the printing company you’re working with might file a lawsuit for breach of contract. Workplace accidents can also happen and employees might ask for compensation. Of course, let’s not forget that the writers you’re helping out might become disgruntled.Â
In this article, we will examine common topics and questions that you might have about business insurance for publishers.
| 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 |
General liability insurance can help you pay for expenses related to third-party claims involving injury and property damage. Some example events include:
Someone walks into your publishing office and cuts their arm on an exposed piece of equipment, requiring medical treatment
When one of your employees is helping a client, they accidentally damage the client’s personal laptop
Many insurers will allow you to customize your policy further through the use of add-ons or endorsements. Some add-ons to this publishers liability insurance include:
Product liability–Adds financial protection for your business products or items if they cause property damage or bodily injury
Cyber liability–Helps your business respond to cyber-attacks and data breaches and protect its reputation
The general liability coverage included in your publishing insurance package typically has a $1 million to $2 million per occurrence and aggregate limit.
Yes, typically, general liability insurance will feature injury protection against lawsuits involving libel, invasion of privacy, slander, and copyright infringement. If you write something on social media, you are generally covered by these perils. To be safe, you may also want a media liability insurance policy to get you more protection in the media environment.
| 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 |
Use professional liability insurance for web publishers and book publishers as protection from lawsuits and claims filed due to your mistakes or negligence. Some examples to look at include:
Your business makes a miscalculation in the commercial direction of the magazine content that causes a client to lose money
An oversight in your business process allows clients to receive bad advice, which costs them financial damage
Excess liability–Gives you a boost to your policy's coverage limit so you can cover financially devastating events
Extended reporting period–Gives you more time to file claims, even past when your policy is set to expire
The professional liability coverage of your publishing insurance package will have $1 million per occurrence and $1 million aggregate limit.Â
Publishers errors and omissions insurance is another name for professional liability insurance. It will cover the same types of liabilities, including things like missed deadlines, undelivered services, and breach of contract.
Media liability insurance protects your business against claims that content you have published has harmed someone financially through claims like copyright infringement and defamation. Example situations include:
A book you helped publish defamed a person in the story who sues you for damages
One of the magazines you helped publish stole work from a competitor, who sued you for copyright infringement
This type of insurance for internet publishers will have a coverage limit of in a range between $500,000 and $1 million. These limits are available at higher levels for bigger publishers and more expensive policies.
Yes, because media liability insurance protects businesses that disseminate media content, it is an essential pickup for publishers who deal with claims like plagiarism, unfair competition, technological activities, and published content.
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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 an excellent addition to your book publishing insurance package because it helps you pay for damages to your business property. Below are a few situations this policy can come in handy.
Someone starts a fire in your business building that damages some equipment you need for your daily operations
A vandal throws bricks through your office window
Earthquake protection–Protects your property from earthquake damage, mudslides, and landslides
Outdoor signs–Helps protect any signs you may use to advertise your publishing business located outside your business property
A typical commercial property coverage limit for publishers will be around $60,000.
No. In fact, there are many kinds of weather events that insurers will typically exclude. Earthquakes, hurricanes, floods, and other forms of natural disasters will require additional coverage.
| 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 |
You will want a business owner’s policy for your publishing business because it conveniently combines multiple forms of coverage together. It will bundle commercial property and general liability into one policy. Example coverage includes:
A customer injures themselves and damages your property at the same time.
A thief breaks into your publishing office and steal some of your electronics
Inland marine–Adds protection for your tools and equipment when they are being transported over land, like by a truck or train
Employment practices–Protest your business from employee claims of wrongful termination, discrimination, and workplace harassment
Your business owner’s policy can have a coverage limit of $1 million for general liability claims and around $50,000 for commercial property claims.
