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Business Insurance for SEO and SEM Agencies

Business Insurance for SEO and SEM Agencies

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Digital marketing services are increasingly crucial parts of modern business strategies. In particular, agencies that specialize in Search Engine Marketing (SEM) and Search Engine Optimization (SEO) are gaining more business as companies continue to increase investment in online marketing channels. As a professional in the online marketing space, it’s wise to keep in mind the specific risks your agency may be liable for. Business insurance can help your agency protect itself from risks ranging from client lawsuits to cyberattacks.

What insurance coverage do I need for my search marketing agency?

While there are many types of coverage for companies to consider, these insurance policies are particularly important for SEO and SEM agencies to consider:

Media Liability Insurance

SEO and SEM are the cornerstones of many modern marketing strategies. When you work with clients to create or manage their search marketing campaigns, they trust your recommendations. If you make a mistake, it could have a major effect on your clients’ revenue, not to mention putting at risk their advertising budgets. Unhappy clients could sue your agency if they feel any error or negligence on your part has led them to suffer financial damages. To protect your company from these risks, media liability insurance covers lawsuits brought on by dissatisfied clients alleging failures in services, advice, or professional work. Media liability insurance also provides coverage for personal and advertising injury, in the case that your agency is sued for libel, slander, or copyright infringement.

Examples:

Cyber Liability Insurance

As a search marketing agency, your business likely depends on digital systems and networks that may be vulnerable to cyberattacks. Even if your company is experienced in managing cybersecurity, cybercriminals constantly develop new methods of breaking into digital systems, so there’s always a risk that you may be hacked or your data may be held for ransom. If hackers are able to access private data through your systems, your company could be held liable. The costs of recovering from a cyberattack are high, and news of hacks can have a disastrous effect on your reputation as well. Cyber liability insurance can provide financial assistance to help your company stay in business in the event of cyberattacks.

Example:

General Liability Insurance

A common coverage that most businesses purchase, general liability insurance can protect your business financially from lawsuits and damages that arise from bodily injury, property damage, and personal injury that is unintentionally caused by your business. General liability insurance is third-party insurance, meaning it covers you against claims by third parties, which don’t include your business or your employees. If your employees consult with clients at their locations, host clients at your own offices, or receive deliveries at your location, it’s a good idea to consider general liability insurance. Although general liability policies can also include personal and advertising injury coverage, marketing and advertising businesses are commonly excluded from this coverage.

Examples:

Commercial Property Insurance

Commercial property insurance protects your agency’s physical assets in the case of unforeseen accidents or natural disasters. In such events, having commercial property insurance makes it easier to recover by reimbursing you for the cost of replacing damaged property. This type of insurance is important if you own or rent your building or office space, or if you have valuable property in your offices such as computer equipment, furniture, or artwork. Commonly covered perils include windstorms, hail, fire, vandalism, and water damage.

Example:

Additional Coverage

Pricing and Quotes

Pricing for business insurance will vary based on the type of insurance coverage and the risk profile of your business. Insurers consider factors such as:

Businesses with higher risks will have higher premiums than those deemed lower risk. For example, an SEO agency with a history of frequent claims will face higher premiums. Premiums also rise as you increase the limits of insurance. Different insurance companies have different models for rating risks, so it is worth comparing pricing across different insurers.

In order to get an accurate estimate on pricing, it’s best to get a quote from a reputable insurance company. Below we’ve highlighted a few of our trusted partners who offer coverage for marketing and technology businesses:

ProviderGeneral LiabilityProfessional LiabilityBusiness Owner's Policy
Embroker??????
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CoverWallet??????
Hiscox??????
Thimble??????

Final Word

Your search marketing agency could be held liable for a variety of common risks, from unforeseen disasters that destroy your property to unhappy clients making accusations of professional errors. It’s important to consider your business’s individual needs as you choose insurance policies. Ensuring that your company has a wide range of insurance coverage can give you, your employees, and your clients peace of mind, knowing that your company will be able to survive an unexpected catastrophe.

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