Sign Board Cover Insurance Policy

Sign Board Cover is a specific type of insurance policy that provides financial protection for businesses in case of any loss or damage to the signboards and other external posters or hoardings, signboards or hoardings due to accidents or any unprecedented events. This also includes material damage to the neon, LCD, or LED signs. As the signboards are placed externally from the business premises, there is a higher chance of any threats via natural calamities and manual perils like fire, theft, or vandalism

Sign board insurance is offered as add-on cover to general liability insurance or business owners insurance policy, and is often a primary requirement of the landlords or mandated by local laws varying according to different regions.

Sign Board Insurance is a precautionary measure for businesses when there is a higher vulnerability to accidental damage due to natural calamities or another unprecedented crisis.

• Damage due to natural calamities or accidents: When a sign board gets damaged due to natural calamities like floods, cyclones, earthquakes, etc., and events like fire, theft, or vandalism, the cover provides complete coverage for repair or replacement of costs.

• Financial protection: Sign board cover provides financial protection when heavy repair costs are incurred due to damages caused. The policy also offers replacement costs to ensure the damaged sign board retracts to its original condition.

• Time-bound support: Typically, a sign board cover ensures the objective of advertising or promotion should be satisfied. The policy supports timely replacement and repair so there is no hindrance for businesses with planned advertisement campaigns.

• Theft: The Sign board cover provides replacement in case the complete sign board gets stolen.

• Accidental Loss: When the sign board falls off or gets damaged due to fire, lightning, earthquakes, floods, and other natural disasters, the policy provides coverage for damages due to such accidental loss.

• Replacement of alarms and lettering: The Sign board covers any expenses involved in the repair or replacement of the alarms and their wiring (as a part of the security system) and damage caused to lettering (which consists of the name of the company, logo, or any other written material like the promotional copies).

• Temporary board: When the sign board gets damaged in unexpected circumstances, the policy provides coverage for the erection of any temporary hoarding or glazing that would be required.

• Window frames: The policy provides the installation cost for any damages caused to the parts such as the window frames or for replacing the complete sign board. However, the amount should not surpass the coverage limits of the policy.

• Legal Liability: The sign board cover protects against any legal claims arising due to third-party property damage or bodily injury caused by the sign board.

• Riots & Strikes: Several insurers may provide coverage for damage caused to the sign board due to riots and strikes varying according to the policy chosen.

• Repair and Maintenance: Sign Board insurance does cover any damages due to gradual wear and tear of the board. Further, the policy does not cover any expenses incurred in the upkeep and maintenance of the board.

• Pre-existing damage: Any pre-existing damage before the onset of the policy will not be covered.

• Consequential loss: The policy does not cover indirect loss or damage like loss of profit or business interruption.

• Damage of framework: When any unexpected event damages only the frame or framework, keeping the signboard intact, the policy does not provide any coverage for it.

• Faulty craftsmanship: The policy excludes coverage for any losses or damages due to any malfunctioning design, fault in the workmanship, or even when the sign board is not fixated securely.

• Detention by government: The policy does not provide coverage when the government authorities have confiscated or detained the signboard.

• Intentional damage: When the sign board is damaged or stolen due to employee dishonesty, family member of the owner, or any third person acting on behalf of the owner, the policy does cover such intentional damage.

• War or terrorism: The sign board insurance does not provide cover for any losses or damages caused due to activities related to war, terrorism or nuclear disasters.

The cost of Sign Board insurance premium varies according to several factors that could influence the premium price. This includes the following:

• Size and value of the signboard: The size of the sign board estimated according to the per square foot size alters the premium price. The larger the size of the sign board and the higher the value of the contents on the sign board, the premium price will increase.

• Type of sign board: The coverage for sign board varies according to the different types. The price range will be different, changing according to the utility of hoardings, neon signs, LED signs, LCD signs, neon signs, and/or any digital signs. The ones with heavy maintenance will have a higher premium price.

• Location: The geographical location of the sign board significantly influences the premium price. When the sign board is located in a region highly prone to natural disasters such as storms, floods, tempests, cyclones, etc., or vandalism which can easily damage the sign board, the premium price increases when compared to the less risk-prone areas.

• Coverage level: The cost of the sign board premium varies according to the desired coverage limit. The higher the coverage limit according to the risk probability, the higher the premium price.

• Number of items covered: The overall premium price can vary based on the number of signboards that are to be covered.