How much does insurance cost for media and advertising professionals?

Media and advertising companies pay a median premium of $35 per month, or $415 per year, for general liability insurance. This policy provides financial protection for third-party bodily injuries and property damage.

Insureon’s licensed agents typically recommend a business owner’s policy (BOP), which includes both general liability and commercial property insurance at a discount.

Among media and advertising businesses that purchase general liability with Insureon, 48% pay less than $400 per year and 37% pay between $400 and $800 per year.

Businesses with frequent client interactions are at greater risk for accidents and tend to pay more for general liability insurance.

Policy limits determine how much your insurer will pay on covered claims. A per-occurrence limit is the maximum amount your insurer will pay for a single incident, while an aggregate limit is the maximum your insurer will pay on any claims during your policy period, typically one year. Higher limits cost more – and provide better coverage.

Most media and advertising businesses (89%) choose general liability policies with a $1 million per-occurrence limit and a $2 million aggregate limit. As your small business grows, you may need to expand your policy limits.

Businesses with large premises, such as an advertising agency with multiple floors, typically pay more for general liability insurance than smaller businesses, such as a home-based graphic design shop. Your industry risk, building maintenance, years in operation, and your location will also affect your premium.

The annual median cost for an advertising agency is $427, while the median for a graphic designer is $350 – or less than $30 a month. The chart below depicts how insurance costs can vary significantly across professions.

Learn how to save money on general liability insurance, which coverage limits to choose, and more on Insureon's general liability insurance cost analysis page.

Media and advertising businesses pay a median of about $45 per month, or $550 per year, for a business owner’s policy. This policy combines general liability insurance with commercial property insurance, typically at a lower rate than if the policies were purchased separately.

A BOP provides financial protection against third-party injuries and property damage, along with damage to your own business property. Because of its increased coverage and affordability, it’s the policy most often recommended by Insureon’s licensed agents.

Among media and advertising businesses that purchase a business owner’s policy with Insureon, 16% pay less than $400 per year and 50% pay between $400 and $800 per year. The cost depends primarily on the value of your business property.

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's business owner's policy cost analysis page.

Media and advertising professionals pay a median premium of about $70 per month, or $845 per year, for media liability insurance. This policy is also called professional liability insurance.

Media liability insurance offers critical coverage for media and advertising businesses. It helps pay for legal fees related to professional mistakes, missed deadlines, libel, and slander.

Among media and advertising businesses that purchase media liability insurance with Insureon, 30% pay less than $600 per year and 34% pay between $600 and $1,200 per year. The cost increases depending on the risk of a business being sued over a professional mistake.

Most media and advertising businesses (61%) choose media liability policies with a $1 million per-occurrence limit and a $1 million aggregate limit. Other common limits are $500 / $500 and $2 million / $2 million.

High-risk businesses typically pay more for media liability insurance than low-risk businesses. In industries where a work mistake can have serious financial repercussions for a client, such as advertising or public relations, you may find yourself paying more for this policy.

The annual median cost for an advertising agency is $1,190, while the median for a graphic designer is $615 – or about $50 a month. The cost varies significantly depending on your profession.

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's professional liability insurance cost analysis page.

The median premium for media and advertising businesses is about $40 per month, or $485 per year, for workers’ compensation insurance.

This policy helps pay medical costs and partial lost wages for employees who are injured on the job. Most policies include employer’s liability insurance, which protects business owners against lawsuits related to workplace injuries.

Businesses with employees typically must purchase coverage to meet state requirements and avoid penalties. It's also a good idea for sole proprietors to carry workers' comp, as health insurance providers can deny claims for work-related injuries.

Among media and advertising businesses that purchase workers’ compensation insurance with Insureon, 35% pay less than $400 per year and 39% pay between $400 and $800 per year.

The cost varies based on the number of employees and the level of risk involved with their jobs, among other factors.

Learn how workers' comp premiums are calculated and more on Insureon's workers' compensation insurance cost analysis page.

Cyber liability insurance is vital for media and advertising businesses that handle sensitive information. It helps cover expenses related to a data breach, such as legal fees and customer notification costs. The cost is typically determined by how much sensitive client information your company handles, among other factors.

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's cyber liability insurance cost analysis page.