When it comes to managing a website, the tasks are endless, and there is no finish line.
An SEO agency is a multifaceted company that no only deals with creating websites from scratch, but also maintaining them to ensure that it is successful in the long term.
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Even though there are several benefits of opening an SEO agency, there are also myriad risks involved that can leave you in a serious financial bind, for which you need SEO agency insurance.
What is an SEO Agency?
The first thing to understand is that not all SEO agencies are the same, but they have one similar goal, and that is to grow a business.
Similar to how you hire an accountant to do your taxes or cleaning company to keep your office clean, the goal of an SEO company is to improve a business website’s visibility in search engines.
SEO companies provide a long list of services and operate differently, and given that every campaign is unique, there are several variables at play.
Many SEO agencies handle both local and global SEO tasks as well, and provide a long list of services, hence inviting more risks.
Risks of SEO Agency
SEO agencies face an abundance of strict laws and regulations that they need to comply with.
Non-compliance with these rules and regulations could result in significant fines and penalties. As an SEO agency owner, you need to be up to date on current laws and regulations to prevent any breaches.
The SEO agency business is a fierce marketplace, and even though you may have times with good sales, those numbers can be down in certain months as well, leading to losses.
Security and Fraud Risks
As an SEO agency, you may have access to important client data such as passwords, and may even be collecting and storing sensitive financial information.
You’ve already heard about data breaches, identity theft, and payment fraud, which are risks that not only impact trust but can also damage your business reputation.
Risk of Theft and Damage
Whether you lease or own your SEO agency business space, it is always at big risk of structural damage stemming from floods, earthquakes, or any other natural disasters.
Similarly, as an SEO agency, you probably have expensive computer and networking systems, and other devices that are crucial to the functioning of your company.
If they are stolen or damaged, you will be at a big loss due to the unavailability of work and downtime.
Different Types of SEO Agency Insurance
Just like handyman insurance, there are several different types of SEO agency insurance to choose from, most notably:
SEO Agency Business Liability Insurance
SEO agencies face a certain level of risk, which is why liability insurance is a must.
Liability insurance can help protect your SEO agency against claims such as copyright, malpractice or even bodily injury.
There are several different types of liability insurance for your SEO agency such as general liability, professional liability, and employer liability.
SEO agency general liability insurance covers claims that your business property damage of bodily injury to others.
Further, it also covers you against reputational damage or errors in your business advertising.
General liability insurance will not however cover property damage to your business, for which you will need a commercial property insurance policy.
Commercial property damage insurance covered you’re your property against structural damage.
Some commercial insurance policies can include theft of property, but this is something you need to clarify with your insurance provider.
Other types of SEO agency insurance policies include commercial auto insurance, workers’ compensation, and errors and omissions insurance.
What is the Cost of SEO Agency Insurance?
The cost of SEO agency insurance depends on several factors including the size of your agency, the number of employees, and the state you live in.
But most SEO agency insurance policies start from $500 to upwards of $1000 per year.
It is always a good idea to shop around for the best SEO agency insurance quotes.
If you operate an SEO agency, whether small or large scale, you should buy an SEO agency insurance policy to protect yourself from lawsuits, and losses.
There are many different types of SEO business insurance policies available, so make sure you get the right amount of coverage for your business needs.