Printing Services Insurance FAQ. Printing services are changing because desktop publishing has become more popular, available and affordable and because online material is replacing printed.
Computerized printing operations are both expanding the marketplace as well as encouraging specialization and consolidation within the industry.
Property continues to be the major insurance loss exposure because business assets are concentrated in computers, printing machinery and equipment and paper stock.
We wanted to provide a deeper dive into small business insurance to help our readers get a better understand of the commercial insurance policies they want and need with the Printing Services Insurance FAQ.
Read the Printing Services Insurance FAQ to learn what type of commercial insurance coverages are right for your business - including liability, property, workers compensation and other specialty policies.
According to The Free Dictionary - a printing services business is, "a company that does commercial printing.."
Printing Services include - but are not limited to - the following types of businesses:
You can reference the Insurance Definitions, Dictionary And Glossary to better understand the commercial insurance policy terms and language used in our Small Business Insurance FAQs.
Following are some suggested commercial policies and coverages applicable for commercial printing businesses:
Package policies are the most convenient way to combine a number of coverages into one policy. In some cases, smaller printers are eligible for coverage in some businessowners policy programs.
Types Of Printing Services Package Policies:
Flammable inks and solvents are the major property hazard. The finished product and special needs paper are the primary loss exposures at most printing operations.
One of the output policies may be an excellent coverage choice for larger operations having multiple locations but the standard business property form is satisfactory for most businesses.
Business income and extra expense exposures at both owned and dependent property locations are also important and need to be covered properly.
Types Of Property Coverages:
Electronic data processing coverages are particularly important when considering printing-related businesses. In addition, the commercial articles floater could be used to cover audio, video and camera equipment. Patterns and dies coverage could be very important if any processes are outsourced.
Types Of Inland Marine Coverages:
Employee theft of inventory and office equipment, such as computers and peripheral equipment, is the main crime exposure for most printing operations. Retail printing concerns must also consider the potential for loss from other sources, such as loss of money and securities due to robbery, burglary, theft and counterfeit currency.
Types Of Crime Coverages:
Most printers have little or no need for surety bonds unless they have a contract to supply services to a governmental entity.
Types Of Surety Coverages:
In most cases, printing-related operations have very limited premises and products/completed operations exposures.
Types Of Liability Coverages:
Printers errors and omissions coverage is not the same as media coverage but is still important for most printing operations. Coverage is not standardized and varies by insurance company and coverage form except for the ISO BOP Printers Errors and Omissions endorsement.
Types Of Errors And Omissions (E&O) Coverages:
The nature and extent of the automobile exposure can vary considerably from one operation to another. The manner in which orders are gathered and final product delivered is very important in determining the coverage needed.
Types Of Business Auto Coverages:
The workers compensation exposure for printing concerns is lower than in years past because machinery is now more automated and printing ink is less toxic. In spite of that, workers are still involved in the process and do become injured. Employers are obligated by law to provide coverage through a workers compensation policy for on-the-job injuries sustained by their employees.
Types Of Workers Comp Coverages:
Excess or umbrella liability policies should also include coverage for underlying printers errors and omissions coverage.
Types Of Excess Liability Coverages:
Printing operations are not all the same. Their exposures will vary. Because of this, some of the following coverages may be more appropriate for some concerns than for others. Due to the toxic nature of some inks, particular attention may be needed for environmental impairment liability if the operation has been in business at the same location for a number of years and disposed of waste on its premises.
Types Of Specialty Coverages:
There are many commercial insurance policies available for Printing Services. To find out what types of coverage your business needs, speak to a professional insurance broker with experience in insuring service businesses.
Learn about the coverages available for specific industires with the Insurance FAQs below: