Billboard Insurance – What You Need to Know
Article sponsored by Bassler Insurance
Our billboards are the bread and butter of our business. If one of them is damaged, loss of revenue can occur which can be devastating to our bottom line. Often, we won’t even know a structure is damaged until some time after the fact. If you don’t have insurance on your billboards, are new to out of home, or are considering purchasing insurance on your billboards, we encourage you to read this article.
There are several types of insurance to consider when purchasing billboard insurance. Below are the most popular types of insurance you can get for your static, digital, trivision, and other displays.
Property Insurance
Property insurance will insure the physical structure of your billboard.
Loss of Income Insurance
Loss of Income will cover any revenue that is lost while your billboard is damaged and or not showing any advertisements.
Liability Insurance
Liability insurance on your billboards will cover any damage that occurs that is caused by your billboard. For example, if part of your billboard falls onto a car and or injures someone.
Workers Comp
Workers Comp insurance covers your billboard business if one of your employees is hurt while installing an advertisement or working on your structure.
A note from one of our founders…
“In my opinion, not every location needs to be insured with physical damage coverage. However, high-dollar digitals are often a good idea to get insured. Your lender may require insurance on your new billboard as well.
If your billboard is in an area where more severe weather occurs, for example, high winds, flooding, and tornados, it is a good idea to get it insured just in case damage does occur. Another factor is vandalism. If your billboard (especially digital) is in an area with a lot of foot traffic and lower to the ground, it might be necessary to purchase billboard insurance.
Obviously, the number one risk that we all face in our business is liability. So to me, physical damage is a secondary concern but it may be needed according to what your financial situation is and the above-mentioned factors.”
-Dave Roland (Roland Digital Media)
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Ready to get a free quote on billboard insurance?
Contact Bassler Insurance today.
www.basslerins.com
Call (847) 480-0800
info@basslerins.com
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Check out our list of Billboard Insurance providers here.
We’ll leave you with a famous quote about insurance:
“The best we can do is size up the chances, calculate the risks involved, estimate our ability to deal with them, and then make our plans with confidence.”
-Henry Ford
