As a professional designer, there are many things that you need to set up for your business. Getting good insurance coverage is something that should come early on to protect your budding business relationships. Here are some of the important types of insurance to get as a graphic designer.
The first thing that you'll want to look into as a professional designer is professional liability insurance. This type of insurance will cover you in case their are problems with your professional work.
A number of issues could cause liability for a designer. The first is simple creative differences between you and your employer. The second is if your work ends up damaging their reputation. For instance, if customers end up noticing inappropriate interpretations of your logos and designs down the road, they may sue you for damaging their reputation, even if you hadn't intended the designs to contain anything offensive. Another problem that could arise is with copyright. If you use some copyrighted material in your designs, then the liability could fall back on your shoulders down the road. Having professional liability help to ensure that your clients get great work, and that a single mishap doesn't throw your business into a financial crisis.
Another crucial type of commercial insurance for graphic design businesses is cyber insurance. You'll be working with a lot of data files, most likely. If you lose large amounts of work, it can seriously disrupt your business and working relationships. At the same time, you might have access to a lot of sensitive information from your clients, and if that information gets compromised, you could be on the hook for a lot of damages. The best thing to do is to get cyber insurance for business to protect you from data loss and data theft. Aside from that, investing in a strong security network and backing up your work on the cloud can help.
General Liability Insurance
Finally, general liability insurance is a great idea if you're taking your business to the next level. A general liability policy will be your catch-all to address issues with property damage, injuries, and product issues. Many business owners choose to put their money into a general liability insurance policy as a first measure when they're starting an insurance plan. However, general liability works great in conjunction with other, more specific types of coverage, so be sure to speak with your commercial insurance broker about how to get full coverage.