Last Updated: May 23, 2024, 12:47 pm by TRUiC Team

Billboard Advertising Company Insurance

Getting insurance for your billboard advertising company is essential.

Billboard advertising companies need to be protected against things like claims of property damage, defamation, and breach of contract. 

For example, some of your billboards might contain defamatory information about a client’s competitor, or a vehicle may crash into one of your billboards and cause significant damage.

We’ll help you find the most personalized and affordable coverage for your unique business.

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Recommended: Next Insurance is dedicated to matching small businesses with the right policy at the best price.

Best Insurance for a Billboard Advertising Company

General liability insurance is — generally speaking — one of the most important insurance policies for billboard advertising companies. 

Some of the risks general liability insurance covers are:

  • Bodily injury
  • Property damage
  • Medical payments
  • Legal defense and judgment
  • Personal and advertising injury

Alongside general liability insurance, many billboard advertising companies find a few of the following policies to be useful:

  • Workers’ compensation insurance
  • Commercial auto insurance
  • Commercial umbrella insurance
  • Commercial property insurance

As you seek to obtain insurance for your billboard advertising company, you’ll typically encounter two general types of providers:

  • Traditional brick-and-mortar insurers: This describes providers with a physical store, such as The Hartford, CNA, and most of the largest insurers in the US. They are widely considered to be reliable due to their many years of experience offering insurance, though this does come at a premium.
  • Online insurers: Contrastingly, by focusing on digitizing themselves and utilizing AI (instead of an insurance agent) to offer quotes, these insurers provide a budget option that matches the quality of traditional providers.

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Cost of General Liability Insurance

The average billboard advertising company in America spends between $450-$750 per year for $1 million in general liability coverage.

Compare the average cost of general liability insurance for a billboard advertising company 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.

Graph showing average price of general liability insurance prices per industry

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Common Situations That General Liability Insurance May Cover for a Billboard Advertising Company

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Example 1: A client comes to your office to discuss advertising and trips over an extension cord, breaking her wrist. She asks you to pay her medical bills. Your general liability policy would likely cover the cost of treatment.

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Example 2: One of your employees is putting up an advertisement on a billboard when he accidentally knocks off a container of adhesive. The adhesive falls onto a luxury automobile below. The general liability policy you carry would help pay for the cost of damages caused by your employee.

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Example 3: An employee is hauling a load of supplies from a delivery truck to another vehicle in your parking lot when he loses control of his hand truck. The supplies slam into a customer’s car, tearing off the mirror and leaving a long gash down the side of the vehicle. The customer sues your company. Your general liability policy would cover your legal fees in the lawsuit.

Other Types of Coverage Billboard Advertising Companies 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:

Workers’ Compensation Insurance

The employees that help you install billboard advertisements will benefit from the protection provided by workers’ comp insurance. It will cover the cost of treating work-related injuries as well as help pay for lost wages for injured employees. Workers’ comp is required by law for employers in most states.

Commercial Auto Insurance

The trucks you use primarily for business should be covered by a commercial auto policy, both to meet state laws and to protect you, your employees, and others on the road. The policy will help pay for damages and medical treatment in the event of an accident. That way you can get your vehicle back on the road as quickly as possible.

Commercial Umbrella Insurance

An umbrella insurance policy is designed to take care of costs that exceed the limits of your general liability policy. Once those limits are reached, the umbrella policy will start to pay until its limits are reached as well. An umbrella policy helps you avoid needing to pay out of pocket in the event of a big expense, such as a costly lawsuit.

Commercial Property Insurance

Your equipment and supplies for billboard advertisements would be expensive to replace if they were damaged or destroyed in and events like a fire or severe storm. With a commercial property insurance policy, you would have help paying for replacements, allowing you to resupply and get back to business as quickly as possible.

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 billboard advertising company:

  • 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.

Billboard Advertising Company 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, securing appropriate insurance coverage from the outset is one of the most important steps in protecting your business from the potential risks, lawsuits, and financial losses it would otherwise be vulnerable to.

The importance of obtaining insurance prior to starting is emphasized by mandatory coverage requirements faced by some businesses to carry workers’ compensation and commercial auto insurance.

Not necessarily. Certain exceptions may be written directly into your billboard advertising company 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.