4 Reasons Why Social Media Consultants Need Business Insurance

As social media continues to change the very way that we communicate and consume information as a society, there’s a growing needy for savvy experts (like you) who can help companies, brands and individuals run their social media accounts. You get to enjoy the flexibility of being your own boss while measurably improving clients’ social media performance.

But being a social media consultant is about more than just knowing how to rack up Facebook, Twitter or Instagram followers. Just like any SMB, your business operations require certain protections. Consulting business insurance ought to be your foundation—that way, in case everything doesn’t go as planned, you’re not on the hook for huge damages (either personally or professionally).

Here are four reasons why social media consultants need business insurance.

A client blames you for a poorly performing campaign

Nothing is a guarantee when it comes to social media, and your contract with clients should stipulate something along those lines. But what may seem like a clever idea in theory could get lost in translation and rake in low engagement. Offensive, incorrect or tasteless content could even gain some viral notoriety as a social media fail. Since you’re representing your client’s brand, they will be none too happy with this development.

Professional liability insuranceprotects professionals, like social media consultants, who provide advice or services to clients in the event that it leads to financial loss for their client. It’s a must-have for someone taking over a brand’s social media accounts and posting unique content!

You meet with clients on your home turf—or on theirs

In this day and age, it’s possible to communicate with clients primarily by phone and video chat. But it’s likely that at some point, you’ll travel to their office or they’ll visit yours; that’s why you’ll need general liability insurance in case your small business is responsible for bodily injury or property damage to individuals or their property during a visit! As they say, accidents happen.

Your posts earn accusations of copyright infringement

You want your social media posts to get attention… but this time they’ve attracted the negative attention of a competitor who alleges that you’ve been posting content using a logo or slogan that infringes on theirs. Or that you’ve unfairly tarnished their reputation in your posts. Whatever the specifics, you may have to defend your actions in court. Can you afford a drawn-out court case in a situation like this? Probably not. Advertising injury (as part of a commercial general liability policy) covers “libel, slander, invasion of privacy, copyright infringement, and misappropriation of advertising ideas,” according to Insurance Risk Management Institute.

A hacker accesses your client’s stored info
As a consultant, your customers are trusting you to keep their business, personal and financial information safe. But, as the internet becomes more interconnected, hacking gets more widespread (and advanced). Cybercrime damages are predicted to cost $6 trillion globally by 2021, double the damages of 2015.

You may think your social media consulting business is small potatoes to hackers, but even SMBs are targets—and they don’t always have the budgets to recover. Cyber insurance can help mitigate these costs if hackers do breach your electronic records or accounts.

Do you have the right coverage to protect your livelihood as a social media consultant? Compare consulting business insurance options with CoverHound today!
" target="new">A hacker accesses your client’s stored info
As a consultant, your customers are trusting you to keep their business, personal and financial information safe. But, as the internet becomes more interconnected, hacking gets more widespread (and advanced). Cybercrime damages are predicted to cost $6 trillion globally by 2021, double the damages of 2015.

You may think your social media consulting business is small potatoes to hackers, but even SMBs are targets—and they don’t always have the budgets to recover. Cyber insurance can help mitigate these costs if hackers do breach your electronic records or accounts.

Do you have the right coverage to protect your livelihood as a social media consultant? Compare consulting business insurance options with CoverHound today!