Online Magazine Business Insurance
Getting insurance for your online magazine is essential.
Online magazines need to be protected against things like copyright infringement, plagiarism, and breach of contract.
For example, another publication could claim that one of your authors plagiarized their work, or your web hosting service could sue for breach of contract.
We’ll help you find the most personalized and affordable coverage for your unique business.
Recommended: Next Insurance is dedicated to matching small businesses with the right policy at the best price.
Best Insurance for an Online Magazine
General liability insurance is — generally speaking — one of the most important insurance policies for online magazines.
Some of the risks general liability insurance covers are:
- Bodily injury
- Property damage
- Medical payments
- Legal defense and judgment
- Personal and advertising injury
Due to the array of risks faced by online magazines, yours will probably need more than general liability insurance for full protection. Some other useful policies to consider include:
- Business interruption insurance if your magazine has to cease publishing unexpectedly
- Workers’ compensation insurance for any writers or other employees
- Commercial umbrella coverage if you reach the limits of your other policies
- Commercial property insurance to cover your company’s office equipment and office space
The first step in deciding where to buy coverage from your online magazine is choosing which type of insurer to go with:
- Traditional brick-and-mortar insurers like Nationwide or Hiscox
- Online insurers like Tivly or Next Insurance
In general, online insurers offer great coverage at lower prices than traditional providers because of their lower operating costs and use of AI technology. We recommend them for small businesses on a budget.
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Cost of General Liability Insurance
On average, online magazines in America spend between $300-$600 per year for $1 million in general liability coverage.
Compare the average cost of general liability insurance for an online magazine to other professional industries using the graph below.
Several factors will determine the price of your policy. These include your:
- Location
- Deductible
- Number of employees
- Per-occurrence limit
- General aggregate limit
You may be able to acquire general liability insurance at a discounted rate by purchasing it as part of a business owner’s policy (BOP) rather than as a standalone policy.
A BOP is a more comprehensive solution that includes multiple forms of coverage, such as business interruption and property insurance.
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Common Situations That General Liability Insurance May Cover for an Online Magazine
Example 1: While visiting your place of business, an investor slips on a wet spot in your lobby, hits her head on the tile floor as she falls, and suffers a concussion. She decides to sue your business for not marking the wet floor. General liability insurance would pay for your legal defense.
Example 2: The owner of a competing online magazine sues your business for libel. While you disagree with the accusation, you know you need a lawyer to protect your company. General liability insurance would cover your legal fees and any required settlement.
Example 3: You want to expand your business into a new building. The landlord requires proof of liability insurance. A general liability policy should cover this requirement.
Other Types of Coverage Online Magazines Need
While general liability is the most important type of insurance to have, there are several other forms of coverage you should be aware of. Below are some of the most common types of coverage:
Professional Liability Insurance
While you strive to produce quality work that satisfies your customers, there’s always a chance someone might decide your professional advice or recommendations caused them harm. If a client sues your business for negligence, professional liability insurance would cover your legal fees and any required settlement.
Commercial Property Insurance
You made a major investment in the equipment and supplies you use to run your online magazine. In the event of a fire, theft, or natural disaster, commercial property insurance would cover the cost of repairing or replacing your business-related property. This includes structural damage to your building as well as the business materials stored there.
Workers’ Compensation Insurance
If you have any employees working for your online magazine, most states will require you to carry workers’ compensation insurance for your part-time and full-time workers. This coverage protects your employees if they become injured at work or fall ill after a work-related accident. It not only covers an employee’s medical bills and lost wages if they need time to recover but also any disability or death benefits stemming from a workplace accident.
Commercial Umbrella Insurance
While your general liability insurance policy covers most claims, some accidents or lawsuits may be so catastrophic that they threaten to exhaust the limits of your primary coverage. Commercial umbrella insurance protects you from paying out-of-pocket for any legal fees and awarded damages that exceed your primary policy.
Additional Steps To Protect Your Business
Although it’s easy (and essential) to invest in business insurance, it shouldn’t be your only defense.
Here are several things you can do to better protect your online magazine:
- Use legally robust contracts and other business documents. (We offer free templates for some of the most common legal forms.)
- Set up an LLC or corporation to protect your personal assets. (Visit our step-by-step guides to learn how to form an LLC or corporation in your state.)
- Stay up to date with business licensing.
- Maintain your corporate veil.
Online Magazine Business Insurance FAQ
Yes, absolutely. You will need to first get a quote from an online business insurance provider like Next Insurance. Next allows you to then purchase a policy immediately and your coverage will be active within 48 hours.
A typical business owner’s policy includes general liability, business interruption, and commercial property insurance. However, BOPs are often customizable, so your agent may recommend adding professional liability, commercial auto, or other types of coverage to your package depending on your company’s needs.
"Business insurance" is a generic term used to describe many different types of coverage a business may need. General liability insurance, on the other hand, is a specific type of coverage that business owners need to protect their assets.
Yes. Making sure your fast food restaurant owns business insurance before it opens up shop is an essential step in protecting its financial assets from the array of food-related risks that it will shortly be exposed to.
Furthermore, in some instances, your restaurant may be legally required to hold specific policies if you hire employees or use vehicles for business purposes.
Not necessarily. Certain exceptions may be written directly into your online magazine insurance policy, and some perils may be entirely uninsurable.
Yes, an LLC is meant to create a legal barrier between your business and your personal assets and credit. If you haven’t formed an LLC yet, use our Form an LLC guide to get started.
An LLC doesn’t protect your business assets from lawsuits and liability– that’s where business insurance comes in. Business insurance helps protect your business from liability and risk.