More and more people are turning to social media as a side gig, posting content and building followers. While influencers gain access to additional streams of income, they’re also subject to added risk. At Pikes Peak Insurance Agency in Falcon, CO, we help social media influencers secure the coverage they need to protect themselves from theft, lawsuits, and more. Here’s what you need to know.
Why do influencers need insurance?
Influencers are at higher risk of loss for a number of reasons:
- anyone who is well-known and perceived to have wealth is at higher risk of being sued, and insurance can provide protection for public figures at higher risk of lawsuit
- because influencers often share their thoughts and opinions publicly, they’re at higher risk of unintentionally committing defamation or being accused of defamation – both of which can come with costly consequences without adequate protection
- many social media influencers use expensive electronic equipment (or have expensive products on hand) and are at risk of theft or loss
Influencers who are especially successful may need specialty insurance because of their net worth; anyone whose net worth exceeds $500,000 can typically benefit from additional insurance.
What kind of insurance do influencers need?
In addition to general liability insurance, influencers often benefit from umbrella insurance, which covers costs above your general liability limits. The best way to determine the right insurance for your specific business is to meet with a qualified insurance agent.
To learn more about umbrella insurance or get a quote, visit with us at Pikes Peak Insurance Agency in Falcon, CO today. We take protecting influencers seriously – so you can focus on building your reach.