What is Sign Board Insurance?
A Sign Board Insurance covers you and your business against any accidental loss or material damage to your sign boards and hoardings, and neon, LED or LCD signs.
Since they are placed outside and in public, they are often exposed to many dangers, including natural perils, fire, and even theft.
But, with a sign board insurance, you will be protected against such financial losses. It also provides third party liability coverage in case the damage to the sign board is the cause of any third-party damages to a person or property.
Benefits of having a Sign Board Insurance
A Sign Board Insurance is essential to protect your business in case of loss or damage due to fire, theft or other unfortunate events to your sign boards. But why do you really need it?
What can a Sign Board Insurance Cover?
When you get a Sign Board Insurance, you will be covered in case of...
What’s not Covered?
Since we really believe in transparency, here are some situations that won’t be covered...
How much does a Sign Board insurance cost?
The cost of your Sign Board Insurance premium will be based on a number of factors, such as:
- The type of signboards being insured (for example, hoardings, glow signs, neon signs, LED signs, LCD signs, and/or digital signs)
- The sum insured you opt for (i.e., the maximum sum payable as a whole under the policy)
- Where your business is located
- The number of items covered
- Square footage of the signboards
Types of Coverage
With Digit’s sign board insurance, you can opt for a sum insured based on either of the following that will best suit your business.
Market Value Basis
Here, the value of the sign board is fixed as per its cost of replacement on the first day of the Policy Period, with any depreciation due to age, wear and tear deducted.
Replacement Value Basis
The sum insured is fixed as per the cost of replacement as it was the first day of Policy Period, or when it was new, and no depreciation for age, or wear and tear is taken into consideration.
Who all need a Sign Board Insurance?
If you or your business establishments have even one sign board or hoarding installed, you might find that a sign board insurance is important. For example, if...