Why all SEO companies need business insurance
Just like all other kinds of businesses, you would find that SEO companies would require business insurance as well. This is because you never would know when an unprecedented accident or tragic situation might occur. In the case of SEO, it would mean that it would result in significant losses. In addition, the damages might be such that you would not be able to recover from it anytime soon.
Hence, it would be because of this reason that a good business insurance company would be required. They would make sure that your company, along with all its important assets would be kept completely safe and secure. Even though you might think that this would be something which would be required, you would be thankful that you actually went ahead and got it.
Security in business
In the case of business insurance, you would be able to cover the unexpected costs of property damage, theft, or even a lawsuit. Simply put, these would be costs that would often be too big for your budget, no matter how thriving and successful you would find your company to be. This is because, in the event that you would be sued, you might find your legal bill to easily reach six figures. So, when thinking about that, you would also have to think about all the potential costs that you would have to incur:
- Fees that would need to be paid to the lawyers
- Expert witness expenses
- Settlement costs
- Damages that would be owed to a customer, a client, or any other injured party.
Therefore, a business insurance company would be able to cover these expenses, this shielding your business from the high price of a lawsuit.
How insurance for businesses could help
When thinking about hiring a business insurance company who would bail you out in an unexpected turn of events, you would also have to think about the various range of scenarios that might occur in the first place. In this way, you would be able to understand the gravity of the situation and why having this kind of a company by your side would help.
- An intern would be responsible for a social media mishap
In your search engine marketing firm, one of your interns would tweet a joke about your competitor. So, when the competitor would see the tweet, they would call their lawyers. Within the span of 24 hours, your business would be served with a lawsuit that would require you to pay an exorbitant amount in damages in order to cover up the damages which have been sustained to the reputation of the competitor. That is exactly where a business insurance company would be able to help you out. Even though it would just be required to pay a lawyer in order to negotiate, they would be able to bring it down to a settlement.
- Your dissatisfied client would sue your company
An online watch retailer would hire your services in order to rewrite content for their website, improve its search engine rankings, and maintain a blog. So, after you have revamped their website, the company faces a drop in their Google search engine rankings. This means that things definitely did not go the way both parties had expected it to go.
So, even though you seem to have done your job, that still would not stop the watch retailer from filing a lawsuit against you and your company. But thanks to insurance for businesses, they would be able to cover your legal expenses. This would include the damages that would be awarded to your former client.
- A fire has hit your office
No matter how many safety precautions you might seem to undertake, you still would not be able to stop a fire from erupting in your office since this would be something completely beyond your control. As a result, this fire would damage your computers along with other equipment.
So, if you would have a business insurance, then a certain portion of it could be used to replace your business property (such as equipment, computers, etc.). On the other hand, if your landlord would sue you over the damage caused to the building, then again a portion of your business insurance could be used to help pay for the expenses.
- An injured employee
Your copywriter might slip on some spilled coffee and would thus end up severely injuring himself or herself. So, in order to cover up her medical expenses, a business insurance company could come in handy. This is because it could be used to help pay for the medical bills of the employee, along with the lost wages. In the event that the injury would trigger a lawsuit, then that would also be something which could easily be controlled or handled.
Therefore, as you can see, insurance for businesses would be something which would indeed be quite beneficial for your company. Not only that, but it would also be important for SEO companies to remember that risk management would not begin and end with insurance. Simply put, you would also need to take an active stance in order to reduce the possibility of lawsuits.