Why is insurance a must for public speakers?
Keynote, public, and motivational speakers can be subject to lawsuits if an attendee feels they were harmed by your presentation. The right insurance can cover the financial costs associated with claims, as well as injuries, property damage, and data breaches.
Get the right insurance
6 insurance policies every public speaker should consider
These insurance policies protect against the most common risks and liabilities in the professional speaker industry.
Business owner's policy
A business owner's policy, or BOP, combines general liability coverage and commercial property insurance at a discount. Low-risk small business owners are often eligible for this bundle.
- Slip-and-fall injuries
- Client property damage
- Business property damage
General liability insurance
A general liability insurance policy defends against third-party injury and property lawsuits, such as a client who suffers an injury at your public speaking firm's office. It's often required for a commercial lease.
- Client bodily injuries
- Accidental damage to a client's property
- Defamation and copyright infringement lawsuits
Professional liability insurance
Professional liability coverage handles lawsuits related to mistakes, poor advice, or other accusations of professional negligence. It's also referred to as errors and omissions insurance or E&O insurance.
- Errors and oversights
- Client dissatisfaction
- Failure to deliver promised results
Workers' comp insurance
Workers' compensation insurance protects public speaking companies and sole proprietors from work-related medical bills health insurance won't cover. Most states require coverage for employees.
- Medical expenses from workplace accidents
- Disability benefits for injured workers
- Legal costs from work injuries
Commercial auto insurance
Almost every state requires commercial auto coverage for vehicles owned by a public speaking company. It covers financial losses and fees in the event of an accident involving your business vehicle.
- Auto accident legal fees
- Vandalism or other vehicle damage
- Vehicle theft
Cyber insurance
Cyber insurance helps public speakers recover from costly cyberattacks and data breaches. It's also called cyber liability insurance and is recommended if you store credit cards and personal information.
- Ransomware attacks
- Client notification costs
- Data breach investigations
Public speaker insurance costs
From our customer data, here's a quick look at average public speaker business insurance costs:
General liability: $31 per month
Business owner's policy: $40 per month
Workers' compensation: $45 per month
Factors that insurance carriers consider when underwriting your premiums include:
- Public speaking services offered
- Number of employees and additional insureds
- Value of your business property
- Types of insurance products purchased
- Coverage limits and deductibles
- Claims history
Hear from business owners like you who purchased insurance coverage.
Why public speakers choose TechInsurance
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Get insurance fast so you can get started working with clients. Fill out our easy online application, choose a policy, and pay online to start coverage today.
Common questions about public speaker business insurance
Review answers to frequently asked questions (FAQs) around public speaker insurance and more.
Do self-employed motivational speakers need insurance?
While insurance for self-employed speaking professionals aren't generally required, it can vary from state to state. Additionally, each municipality and city may have their own requirements that must be met to work there.
In most cases, if your public speaking or motivational speaking firm has employees, you'll be mandated to carry workers' compensation insurance in nearly every state. Workers' comp protects your business should a staff member become ill or injured on the job. This coverage is also a good idea for independent contractors and sole proprietors, who are typically exempt, as personal healthcare insurance won't cover work-related claims.
Additionally, guest speakers who drive company-owned vehicles must maintain the state-specified minimum amount of commercial auto insurance. It offers financial protection if you or your employees are involved in an accident with a business-owned vehicle, and will help cover medical expenses, property damage, liability claims, and uninsured motorists due to the incident.
Depending on your client, you may be asked to carry professional liability insurance (sometimes called errors and omissions coverage) before you can enter into an agreement with them. This is often true for government entities and local municipalities. Professional liability protects your business from expensive claims over the quality of your work.
Even when not required, insurance coverage is a critical component for any LLC, sole proprietor, independent contractor, and start up public speaking services business. It not only offers peace of mind, but can protect your business from potentially devastating financial and legal costs.
What other types of insurance coverage do public speakers need?
For a comprehensive risk management plan, you may need additional protection to cover all the risks and liabilities your public speaking business may face.
Keynote speakers should also consider the following types of coverage:
- Hired and non-owned auto (HNOA) insurance provides business auto coverage for you and your employees when driving a personal, rented, or leased vehicle for business purposes.
- Employment practices liability insurance (EPLI) helps pay for legal fees when an employee sues over a violation of their rights, such as wrongful termination, discrimination, or harassment.
- Directors and officers insurance (D&O) covers legal costs if an officer or board member is sued over a decision they made on behalf of your company.
- Commercial umbrella insurance activates to provide additional coverage when your general liability, commercial auto, or employer's liability policy reaches its limit on a claim.
Some additional coverage you should consider is a hold harmless agreement. Also called an indemnity agreement, this coverage is a contract for anyone who works with you agreeing they'll refrain from suing your business in certain situations.
