Billboard Insurance 101: Safeguarding Structures, Revenue, and Liability
Billboards are a major driver of revenue for advertising companies—but when one is damaged, it can mean significant financial loss. In many cases, damage isn’t discovered until well after it occurs, making protection even more critical.
When it comes to billboard insurance, there are several key coverages to consider for static, digital, trivision, and other display types:
Property Insurance – Property insurance will insure the physical structure of your billboard.
Loss of Income Insurance – Loss of Income will cover any revenue that is lost while your billboard is damaged and or not showing any advertisements.
Liability Insurance – Liability insurance on your billboards will cover any damage that occurs that is caused by your billboard. For example, if part of your billboard falls onto a car and or injures someone.
Workers Comp – Workers Comp insurance covers your billboard business if one of your employees is hurt while installing an advertisement or working on your structure.
While today’s insurance market remains challenging—with higher premiums, stricter underwriting, and potential coverage restrictions—it’s essential to adapt. Even well-prepared organizations may face conditional or nonrenewal notices.
To adapt to the market and stay ahead, consider:
- Reviewing your insurance program. Check that your policies account for your business’ greatest exposures. Ensure you’re not overlooking any exclusions and have secured the right policy for your operations.
- Bolster your risk management efforts where possible. Doing so makes your business more attractive to insurers. Review existing policies and procedures, and identify ways to secure favorable quotes.
- Know your loss history. Be prepared to explain the factors contributing to a specific loss and the steps you’ve taken to mitigate future losses.
- Budget wisely and plan ahead. In some cases, premium increases are unavoidable, and organizations should be prepared. Businesses should budget accordingly and take insurance costs into account alongside their other expenses.
- Work with the right insurance broker. It’s vital to have a competent insurance professional advising your business. At Árachas Group, we have access to an extensive carrier market, including wholesale options for those who have faced non-renewal or have hard-to-place risks.
Bassler & Co. Insurance is now a part of Árachas Group. Árachas Group’s specific expertise in billboard insurance allows us to leverage our network, both domestic and international, to deliver the best insurance coverage at the best possible rates for the industry. To learn more about how Árachas Group can help you, visit our website or contact Will Mulflur at 206-696-3242
