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Business Insurance For Graphic Designers

Compare business insurance quotes with Savvy to find the best policy for your graphic design business.

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, updated on July 27th, 2023       

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We’ve partnered with BizCover to bring you a range of business insurance policies to help you compare them side by side.

Anyone in the graphic design business knows there are plenty of copyright considerations to be taken into account before starting a new job. For this reason, today’s graphic designers need business insurance to protect their interests if legal action is taken against them.  

You can compare quotes for many types of business insurance here with Savvy. Just answer a few simple questions about your graphic design business and the insurance you need and you’ll have a wide range of offers to consider instantly from some of Australia’s most respected insurers. Compare with us to help you get the best-value insurance for your business today.

What types of insurance should I buy for my graphic design business?

The main types of insurance to be taken out by graphic designers include:

Professional indemnity insurance

The greatest risks faced by graphic designers are legal liability risks. Whether it’s a claim that you breached the copyright of another artist or violated a patented trademark, there is always a risk someone in the corporate world will hit you with a lawsuit. For this reason, professional indemnity insurance is a must for all graphic designers, particularly if you work freelance.

Professional indemnity insurance covers you against claims that the service you provided (the provision of a design service) was negligent or fell short of expected professional standards. It’s an important type of insurance to have for graphic designers who work for multiple companies or organisations.

Cover is available starting from $250,000 but can reach up to $10 million or more.

What it covers

  1. Legal defence costs
  2. Payment of compensation if there’s a successful claim against you
  3. Payment of court-awarded damages to the litigant
  4. Cover for the cost of disciplinary proceedings or investigations

Cyber liability insurance

Cyber liability insurance can protect your graphic design business from a variety of forms of cybercrime.

What it covers

  1. Data breaches including theft of client information
  2. The cost of a forensic investigation into the cause of the breach
  3. Data recovery costs
  4. Cyber extortion and denial of service threats
  5. Crisis management costs
  6. Advertising and communicating with customers
  7. Legal costs including any fines and penalties imposed

General business insurance

General business insurance may also be worthwhile if you have portable equipment such as computers and servers to protect as part of your graphic design business. Commercial vehicles aren’t included, so you may need separate commercial vehicle protection if your car is used mainly for your business.

What it covers:

  1. Fire, storms, theft, vandalism and collision which cause damage to your business assets
  2. Specialist cover for electronic and other portable equipment
  3. Limited business interruption insurance

What isn’t covered under business insurance for graphic designers?

Some of the main exclusions to look out for under these policies include:

  1. Injury to yourself or your employees
  2. Flood damage
  3. Unlawful activity or criminal negligence
  4. Reckless behaviour or intentional damage
  5. Intentional or fraudulent acts
  6. The effects of pollution caused by your business activity
  7. Damage to computer hardware
  8. Upgrading of a system not related to the cybercrime
  9. Power outages or failure of satellite or telecommunication services
  10. Prior known circumstances or risks

How much will insurance for my graphic design business cost?

There is no set cost for an insurance policy, as each applicant is different and faces unique risks. There are many factors which influence the cost of business insurance, including the following:

  • The state you’re in
  • Whether you live in a rural or urban area
  • Whether you’re a sole trader, a freelancer, in a partnership or running a business
  • Your business size or turnover
  • If you employ anyone else
  • Your credit history
  • Your insurance history, and whether you’ve made a recent claim

The main factor which will affect the cost of your insurance is the industry you’re in. All businesses in Australia are classified according to the risk their industry poses, and are allocated a risk ratio. These ratios are used by insurers to calculate the comparative risk of any one business compared to another.

You can find out how much insurance will cost for your graphic design business by comparing quotes right here with Savvy. Whether you need insurance as a sole trader or have a larger graphic design business, you’ll be able to find a policy that is perfect for your business needs here.

Why do I need business insurance for my graphic design business?

Since you’ve worked hard to set up your graphic design business, it makes sense to want protection in case things do go wrong. Business insurance offers protection in case there are any threats that could affect your business’ viability. It’s there to ensure you can withstand any legal claim or allegation made and enable you to defend yourself.

For example, imagine you’re based in the ACT but you are working for a company based in Melbourne. A rival Victorian design business makes an allegation that you’ve infringed their copyright in an original design you produced. Your professional indemnity insurance would cover all your legal and administrative costs for defending yourself against this action, so you could concentrate on running your business and making money. 

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More questions about business insurance for graphic designers

What information will I need to make an insurance claim?

The information you should have to hand when you contact your insurance company to make a claim will include:

  • The name of the policyholder, your policy number and start date (which can be found on your Certificate of Currency)
  • A detailed description of the incident or what happened to cause the damage, accident or injury, including specific dates and times
  • Contact details of any other parties involved or witnesses to the event
  • Details of your police report number (if a crime took place)
  • Details of the property including its age and value (if you’re claiming for property damage or loss)
  • Your bank details for settling the claim
Are my graphic design business insurance premiums tax-deductible?

Yes – the Australian Taxation Office recognises that having business insurance is a legitimate cost of doing business, so the full cost of your insurance premiums can be claimed as a business expense and offset against your income.

What’s the difference between professional indemnity insurance and public liability insurance?

Professional indemnity will cover you against claims that the service you provided or the job you did was faulty or negligent, or resulted in economic loss. On the other hand, public liability insurance covers you against third-party damage or injury claims from members of the public. Most graphic designers won’t have to worry about public liability insurance, but if you have a business which members of the public can visit, it’s important to look at taking out a policy.

What does ‘Claims Made’ mean in professional indemnity insurance policies for a graphic design business?

This means the policy covers the policyholder for any claims made during the period in which they are insured (which may not be the same period as when the insured incident took place). For example, you may have designed and drawn the interior of a block of units, but design flaws were not discovered until two years later when the units were being built. A claim can come to light several years after the drawing work was first done. As long as your insurance policy is in place at the time when the claim is made, you will be covered. This ‘Claims Made’ rule applies to consultants in many different occupations too.

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Savvy is partnered with BizCover Pty Ltd (ABN 68 127 707 975, AFSL 501769) to provide readers with a variety of business insurance policies to compare. Savvy earns a commission from BizCover each time a customer buys a business insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via BizCover.

Savvy does not compare all business insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.

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