As the impact of print, radio and broadcast television advertising has diminished, many companies are looking for new ways to stand out. Marketing dollars that normally would have been spent on those more traditional mediums are now finding their way into other media types in order to reach the intended audiences.
Whether you have already made an investment in outdoor digital billboards or are simply considering the option, you should be commended. Digital billboards offer the most time-sensitive and flexible form of outdoor advertising, and studies have shown that LED billboards are six times more effective than traditional billboards, with 55 percent of travelers being highly engaged and 82 percent recalling advertisements in the last month.
LED billboards are a fast and relatively inexpensive method for companies to make contact with their buying public, leading to their increasing popularity with advertisers in a wide range of industries. If you currently own or are planning to establish your own digital billboard, it is important to consider the risk and insurance implications.
Along with many other considerations, the insurance for this type of business entity warrants extensive expertise and considerable time. At the most basic level, lending agencies and land owners will require workers’ compensation and adequate property and liability coverage for digital billboards. However, it is important to consider your risks beyond those general coverages. In this industry, professional liability, cyber liability, internet security, terrorism, and Directors and Officers liability could be equally of concern and necessary.
To learn more about Digital Billboard Insurance, please contact me, Michael Weber, at 804.237.5904. If you want to explore the possibility of purchasing your own digital billboard, contact our industry partner BillboardTech.