Private Investigators Insurance

Insurance for the Private Investigator Industry

 

As a private investigator, your clients may entrust you with sensitive information and rely on you to handle confidential matters. Furthermore, your line of work may place you in high-risk situations that could lead to significant financial losses and even bodily harm. Accidents and professional errors may be inevitable regardless of how experienced or diligent you may be. With this in mind, you should understand the importance of adequate insurance coverage.

What Coverages Do Private Investigators Need?
Clients may enlist your investigative services for many different tasks. As a private investigator, your assignments may vary significantly on a daily basis. As such, your insurance portfolio needs to cover a wide array of risks and exposures. In general, the following coverages may be invaluable investments:

• General Liability Insurance—This coverage can provide essential financial protection if you or your business are found to be liable for another party’s losses and may help pay for expenses arising from the following:
  • Bodily injury
  • Property damage
  • Personal and advertising injury (e.g., slander, libel, invasion of privacy)
• Professional Liability Insurance—If a client sues you for allegedly providing services that were negligent, misrepresented, incomplete or otherwise inadequate, this coverage, also known as Errors and Omissions insurance, can help pay for the following legal costs:
  • Defense
  • Settlements
  • Court-ordered judgments
• Commercial Property Insurance—This coverage insures physical property used to operate your business, including the following:
  • Buildings (Owned by your Company)
  • Electronics
  • Equipment
  • Furniture
  • Inventory
  • Signage
• Business Interruption Insurance—If a covered event forces you to pause or alter your normal operations, this coverage, also known as Business Income Insurance, can help pay for the following costs or losses:
  • Rent/mortgage payments
  • Lost income
  • Employee payroll
  • Tax/loan payments
• Commercial Auto Insurance—This coverage can help pay for losses from incidents involving your business’ motor vehicles. Policies may be customizable, but it’s advisable to consider the following components:
  • Auto liability coverage
  • Collision coverage
  • Comprehensive coverage
  • Medical Payments Coverage
  • Uninsured/Underinsured Motorist Coverage
• Cyber Liability Insurance—If you or your business are affected by a data breach or other cyber incident, this coverage can provide financial assistance to help you manage the following expenses and damages:
  • Notifying affected parties
  • Restoring compromised systems
  • Hiring additional services (e.g., forensic investigators, IT contractors)
  • Ransomware payments
  • Legal costs (e.g., representation, settlements, judgments)
• In addition to the aforementioned coverages, which may apply to most private investigators’ needs, your business should also consider augmenting its insurance portfolio with additional policies. The professionals at Bone, Robertson & McBride, Inc. are well-equipped to help you assess your unique circumstances to fill any remaining coverage gaps, such as with the following policies:
  • Workers’ Compensation Insurance
  • Employment Practices Liability Insurance
  • Commercial Umbrella Insurance

Get the Right Coverage
Given the wide variety of risks and exposures you may encounter as a private investigator, working with a qualified insurance agent to protect your interests is essential. Without adequate coverage, even a single accident or error could leave you with devastating out-of-pocket losses. 

With nearly 50 years of experience serving private investigators and other businesses, the individuals at Bone, Robertson & McBride, Inc. have the knowledge and experience to help you protect your finances and future with optimal insurance solutions. Contact us today  800-510-1095 to get started today.

Think of us as for all of your Business Insurance Needs!