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How to Get Insurance: 3 Protections Our Company Has


– A couple months ago we were about to close a deal and the client asked, "What type of insurance do you have?" And before that moment, it was something I'd never really thought about before What sort of liability were we being protected for at Experiment 27? So in today's video, I'm gonna go over the three types of insurance they requested that we have, and hopefully this will serve as a guide for you when you wanna go and get your business insured

The first is an insurance called commercial general liability This is a type of insurance you'd get against contractual liability, so breaking contracts, or advertising injury Some kind of hurt that comes to their business from advertising, pretty important for marketing agencies to have The second type of insurance is errors and omissions We've had this type of insurance for a while, even when we were just freelancers

Errors and omissions is really important because it protects you against errors and omissions Right, if you miss anything throughout an entire project or if you screw somebody's business up, especially if it wasn't your fault, it's just something you didn't know Errors and omissions insurance protects you in that area And then the last insurance is cyber liability This is to protect against hackers or data breaches, and with the way the internet is, especially when you're touching any sort of user data, cyber liability is necessary

It's really important to have that type of protection How do you know when it's time to get insurance for your business? I would say by the time someone's threatening a lawsuit, it's too late, cause a lot of insurance won't protect against any of those past claims We got it when clients asked for it, but I would say we got it even a little bit too late If I had to do it again, I would start looking at insurance as soon as our company broke $100,000 a year in revenue For all these insurances combined, I think it's $2,500 a year, something in that range

And we're protected in case anything happens So as an entrepreneur, a lawsuit can be very painful, and that's why we have insurance to protect against that sort of thing After the client requested it, I found these insurances by Googling So for instance I searched "Commercial general liability" on Google, and called the first three and just asked some questions about the business, got a price, and that was as easy as it was The hardest one for us to find was cyber liability

But if you Google "Cyber liability insurance" and call a few places, you should be able to find it Thanks for watching the video This year our goal is to hit 100,000 subscribers, so if you could share this video with a friend or two that you think would find value in it, please do And if you need marketing support for your digital agency, check out Experiment27com Thanks

Source: Youtube

How to Get Insurance: 3 Protections Our Company Has

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