Why Do Podcasters Need Insurance Coverage?
Podcasters can enjoy interesting and rewarding careers. This relatively new profession allows you to explore your passions and learn about topics that interest you while also providing insight and entertainment for listeners. However, like any entertainer or information resource, you must also account for potential liabilities, inaccuracies and other professional errors that might incur significant financial consequences. With this in mind, even the most diligent and experienced podcasters must consider their insurance needs.
What Is Podcaster Insurance?
Podcaster insurance isn’t a single type of coverage; rather, this term generally entails a collection of insurance products that, when combined, can provide a financial safety net. The policies that form an adequate podcaster insurance portfolio may need to be purchased separately, although some companies may offer bundles and subsequent discounts.
Why Do I Need Podcaster Insurance?
Without adequate loss control measures, your podcast could face catastrophic out-of-pocket financial losses following a slip of the tongue, omission or other incident affecting another party. Furthermore, your business likely relies on expensive sound and recording equipment, so incidents resulting in property damage could have significant ramifications. Regardless of your unique circumstances, certain accidents, errors and other incidents may be inevitable, making appropriate coverage essential.
What Does Podcaster Insurance Cover?
Although the exact contents of an adequate podcaster insurance portfolio may vary, the following types of coverage are generally advisable:
- General liability insurance—This coverage may provide financial assistance if you are at fault for another party’s bodily injuries or reputational harm, such as if a guest on your podcast is injured while in your studio or if you report false information.
- Commercial property insurance—This part of your insurance portfolio may provide financial protection for your business’s physical assets (e.g., buildings, equipment and furniture) from various perils, including fires, theft, burglary and some weather-related incidents.
- Media liability insurance—If your podcast provides inaccurate information, is accused of defamation or copyright infringement or otherwise causes third-party losses, this coverage may insulate you from financial consequences.
- Cyber liability insurance—This coverage can offer financial security by providing access to funds and resources in response to a data breach or other cyber incident, such as if a cybercriminal gains access to the sensitive information of your subscribers.
- Workers’ compensation insurance—Legally required for many employers, this type of insurance may help pay for medical expenses, lost wages, disability benefits and legal costs arising from your employees’ work-related illnesses or injuries.
How Much Does Podcaster Insurance Cost?
Like many types of insurance, the cost of adequate coverage for podcasters may vary significantly depending on circumstances. When assessing your needs and quoting you a rate for appropriate policies, insurance companies may consider the following:
- Number of employees
- Annual revenue
- Business assets
- Portfolio details (e.g., types of coverage purchased, policy limits and deductibles)
Get the Right Coverage
At AnderGray Insurance Services, we have over 30 years of experience helping hundreds of businesses and professionals understand and address their coverage needs. Visit our website or call 213-769-8001 to get started today.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.