Do writers need insurance on a self-published book?

March 14th, 2013 → 6:06 pm @ Carol

Over at the Authors and Publishers LinkedIn discussion group, someone asked for information on insuring a self-published book.

David Rosman was kind enough to share his experience as a former administrative officer with the  Colorado Division of Insurance and self-published author.

Your homeowner’s policy, if endorsed to include a business run out of the home, usually includes slander within the liability section.
They are not a whole lot of money. Mine is attached to my homeowner’s policy is is under $100 annually. Yours may be different depending on where you live, if you have a homeowners or renter’s policy.

Most small business insurance policies also include such coverage. If (the questioner) practices what he writes about, then his business coverage can extend to the book. I did that for a large number of clients in a former life time.

I was sued for libel once and the insurance company took care of the problem. Actually, the problem was possible plagiarism, but I properly cited the source in my footnotes, so the suit was dismissed. I believe I had all of $50 out of pocket costs and the company did not increase the premium.

Thanks to David Rosman for sharing his knowledge and experience.

How many of you have added small business insurance to your homeowners policy?

Do any of you have specific business insurance?

I have professional liability insurance for my CPA practice that covers my books since because I write about accounting, business and taxes.

Carol Topp, CPA