Protect Your Print Shop: Why You Need Comprehensive Business Insurance
Operating a print shop requires highly specialized equipment and skilled workers to deliver quality printing services. However, this business also comes with substantial risks that require tailored insurance coverage.
From protecting premises and printing machinery to liability concerns, having the right insurance is crucial for printers.
Here our business insurance agents provide print shop owners an in-depth overview of the critical coverages they need and compelling reasons to partner with an expert insurance agent.
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Table of Contents
Printer Liability Insurance Coverage Options
As the owner of a print shop, you know firsthand the investments in specialty gear and training needed to serve your customers successfully.
However, you also likely understand how something going wrong on a job can lead to tremendous liability risks or replacement costs.
On top of general business risks like employee injuries or cyber attacks, print shops have specialized exposures that standard insurance policies just don’t address sufficiently.
The good news is that getting comprehensive business insurance designed specifically for print shops can provide protection against many of these potential issues.
We provide printers insurance for a wide range of businesses, including those who print
- Book printing (no publishing)
- Business forms
- Car wraps
- Die cutting
- Engraving and plate printing
- Greeting cards
- Newspaper/shopper printing (weekly)
- Pre-press services (receiving electronic format and duplicating)
- Quick print or copy shops
- Screen printing of promotional materials
- Trade show material
Cover Your Printing Exposures
These are some of the most crucial insurance coverages print shop owners need to secure:
- General Liability Insurance: This covers any costs you become liable for if a third party gets injured on your property or you cause damage. It helps pay for legal defenses and settlements for covered incidents like slips and falls in your shop, injury from a defective product you printed, or mistakes made on a print job.
- Professional Liability Insurance: Also referred to as Errors & Omissions E&O, this type of insurance covers the cost to reprint a job if a mistake is made due to your error. It also helps pay any legal expenses that arise from damages or losses to a customer caused by your professional services or printing mistakes. This protects you if a customer sues your business over a service you provided.
- Commercial Property Insurance: This covers damage to your business property and equipment from common causes like fire, smoke, theft, vandalism, windstorms, hail, or natural disasters. It can help replace destroyed or damaged equipment or rebuild your shop after a fire. Make sure to insure equipment for replacement cost.
- Commercial Auto Insurance: This protects any vehicles used for your business, like delivery vans. It covers liability if your employee gets in an accident while driving for work. It also pays for medical payments, uninsured motorists, and physical damage to your vehicles from a collision.
- Workers’ Compensation: Most states require businesses to carry this to cover injuries employees sustain while working. It covers lost wages and all medical treatment so your workers don’t have to pay anything out of pocket if they get hurt on the job. Rates are based on your industry’s risks and payroll size.
- Cyber Liability: This increasingly vital coverage helps pay costs if your shop experiences a data breach, ransomware attack, or if customer/client private data held on your systems is compromised. It pays for legal help, security experts, customer notifications, public relations assistance, credit monitoring, and computer forensic investigations.
- Business Owners’ Policy: A business owner’s policy (BOP) can be an efficient insurance solution for print shop owners to bundle core coverages together under one policy. BOPs generally include general liability, property and equipment, and business interruption insurance all together in one bundled policy at a discounted premium. Some BOPs also allow print shops to add specialized coverages like commercial auto, workers’ comp, E&O, cyber liability, and more.
Other Coverage Options to Consider For Print Shops
Beyond just the major coverage types that print shops absolutely need, here are some additional insurance options an experienced agent from The Allen Thomas Group can advise you on:
- Non-Owned Auto Liability: This coverage protects you if one of your employees gets in an accident while driving their own personal vehicle for business purposes. It provides vital protection if they injure others or damage property of third parties while on the job.
- Equipment Breakdown Coverage: This specialized protection insures mechanical equipment like printing presses, digital equipment, and phone systems against electrical damage, shorts, power surges, boiler explosions, and other costly equipment breakdowns.
- Employment Practices Liability: This protects against employee lawsuits alleging wrongful termination, discrimination, sexual harassment, failure to promote, and other employment practice violations. Legal defense costs mount quickly.
- Commercial Umbrella Liability: This provides additional liability coverage limits above your underlying general liability, auto liability, and employers liability policies. It kicks in when those primary policy limits are exhausted, providing an extra layer of protection.
- Flood Insurance: Flood damage is excluded in standard property policies but can be purchased through the National Flood Insurance Program. This is crucial if your shop is in a flood zone.
- Earthquake Insurance: You’ll need separate earthquake coverage since most property insurance excludes earthquake damages. But this can be vital protection in quake prone regions.
- Cyber Extortion Coverage: This pays for any ransom demands if your systems are hacked and data held for ransom. Many businesses opt to purchase this as cyber attacks proliferate.
- Supply Chain/Contingent Business Interruption: This specialized coverage protects against income losses if a key supplier’s disruption halts your operations. Printing shops rely heavily on vendors and suppliers.
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Partner With An Expert Printers Insurance Agent
Collaborating with an established independent insurance agency that has specialized experience working with print shops can help protect you with guidance on coverage options and ensure you get a certificate of insurance on policies tailored specifically for printing industry risks.
Here are some of the key benefits of working with the right insurance agent for your print shop:
- Access to Wholesale Specialty Markets: Trusted agencies have access to wholesale insurance markets with specialized coverage options specifically for print shops not available to the general public. These carriers understand the unique risks printing companies face.
- Customized Policies: An experienced agent will thoroughly evaluate your shop’s particular needs and exposures to build customized insurance packages that fit your specific operations. They can include endorsements and provisions for the printing industry not in standard policies.
- Local Experience and Requirements: Agencies with a long history in your area understand the business environment, risks, laws, and insurance requirements of your region so can best protect you. They know the claims tendencies of local courts.
- Coverage Gap Analysis: They’ll carefully examine your current insurance policies to see where you might be critically underinsured or have concerning gaps in coverage. An outside expert review is invaluable.
- Claims Advocacy: If you ever need to file an insurance claim, a good agency will help guide you through the process for a prompt and fair resolution. Their expertise can save you money and hassle.
- Ongoing Policy Reviews: An agency partner will regularly review your policies with you as your business evolves to ensure you always have adequate protection. They’ll note upcoming renewal dates and quickly obtain alternate quotes if your rates increase.
Getting The Right Insurance For Printing and Publishing Businesses
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Here are answers to some of the most common small business insurance questions print shop owners have
Insurance costs can vary substantially based on your location, size of facility, payroll, claims history, chosen coverages, and limits.
In general, expect to budget approximately 2-5% of your company’s annual gross revenue for comprehensive insurance. A good agent will competitively shop your account to find the most affordable rates possible.
Yes, absolutely if your company owns any type of vehicle used to make deliveries, transport materials, or if employees use personal vehicles for work duties. Personal auto policies exclude business use, so make sure your delivery drivers have proper commercial auto coverage.
E&O coverage is strongly encouraged for print shops to cover the potential costs of mistakes and liability arising from printing errors. Even the most diligent printers make the occasional mistake, and E&O insurance protects printing businesses without damaging your finances when errors occur.
Yes. General liability policies cover premises liability for injuries customers sustain from slips, trips, and falls on your business property. This pays their medical bills, lost wages, and legal expenses up to the policy limits. Premises coverage is crucial protection for business owners.
Workers’ compensation is mandatory in nearly every state to cover injuries employees sustain while working. It pays for their lost income, medical treatment, and rehabilitation services, so your staffers don’t have to pay anything out of pocket if they get hurt on the job. Rates are based on your payroll size and the inherent risks of the printing industry. This is not coverage to skip.
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Get Print Shop Business Insurance Today With The Allen Thomas Group
Operating a print shop comes with an array of risks few other small businesses face. Make sure you work with an experienced local independent insurance agent who truly understands the unique exposures and liabilities print shops deal with every day.
They can advise you on the spectrum of specialized coverages available and help procure tailored insurance policies so you can run your print shop with full confidence, knowing you’ve got the right insurance protection backing you up.
Protect your business with trusted insurance advisors like The Allen Thomas Group, who can provide customized business insurance for printers.
Get a quote today to ensure your peace of mind!