You're creative, helping your customers create beautifully printed materials and books. They rely on you to get the job done fast and right the first time, and oftentimes after giving you the order at the very last minute. You never skip a beat, but what if something unexpected happened and you did skip a beat? That's where the right insurance comes in - having the right policy in place to cover your printing services, bookbinding and printing supplies may help you recover quickly from an unexpected event and get back to work.
Printing & Publishing Insurance Coverage Options
Being in the printing & publishing business comes with a few special insurance needs. To help you navigate the maze of coverage options available:
- Business Personal Property – Choose a limit sufficient to cover all the things your business owns including furniture, computers, software, scanners, printers, copiers, and anything else that's not part of the building itself.
- Important Business Documentation – You probably have tons of customer files and invoice them for the work you do. They're particularly important in your line of work, and you'd take quite a financial hit if these files got lost or destroyed. Enter the Accounts Receivable coverage and Valuable Papers & Documents coverage - pay special attention to the limits you choose for these two standard coverages.
- Electronic Commerce Coverage - If you're a modern print shop, you're probably doing more electronically than on paper. The optional Electronic Commerce Coverage is for you as it can reimburse you for loss and help restore your systems if, for example, a computer virus runs rampant through your systems.
- Equipment Breakdown Coverage - If your company is still doing a lot of paper production work, consider adding the optional Equipment Breakdown Coverage which protects you if your equipment goes down because of mechanical breakdown, a power surge, or operator error. (This coverage does not, however, cover outages due to normal wear and tear - so, yes, you'll still need to stay on top of that maintenance!).
- General Liability Coverage – This coverage is often referred to as your first line of defense against liability claims. It covers losses due to injury or damage that arise out of operating a business in general and will typically not cover losses specific to your line of work. For example, a 'slip & fall' type claim would be covered while a claim due to printing the improper price on a restaurant menu would not. However, the latter can be addressed by adding the appropriate optional professional liability coverage (see below).
- Printers Errors & Omissions Professional Liability – This optional coverage pays the cost of repairing printing errors and omissions, from misprints to customer income loss because of your error.