Thank you for sharing your details with us!

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?

In case your signboards or hoardings are damaged in a fire, theft, or otherwise, you will have help to repair or replace them. 
Get financial protection against the high costs of repairing damage or replacing your signboards. 
You will have the help to ensure that you have your signboards up in time so that your business and advertisements are not affected. 

What can a Sign Board Insurance Cover?

When you get a Sign Board Insurance, you will be covered in case of...

Accidental External Loss or Damage

Any accidental loss or damage to the sign board due to fire, lightning, earthquakes, floods, and other natural disasters. 

Theft of the Sign Board

In case the whole sign board is stolen, you will be covered for its replacement. 

Damages During Riots

You will also be covered in case your sign board(s) are maliciously damaged during a riot or a strike.

Temporary Boarding

The policy also covers the cost of erecting any temporary boarding or glazing that may be needed after the sign board is damaged.

Replacing Alarms and Lettering

You will be covered in case you need to replace any alarm wiring, lettering, painting, or ornamentation that was on the damaged signboard.

Replacing the window frames

The cost of installing any damaged parts, or of replacing the entire signboard will be covered, as long as it does not exceed the limits specified. 

Removal of Debris

You will also be covered (within the specified limits) for the cost of removing any debris caused by the damaged sign board.

Third Party Bodily Injury or Death

It covers against legal liability in case the damage to the sign board is the causes bodily injury or death to a third-party person.

Third Party Property Damage

If the loss of or damage to the sign board results in any third-party property damage, you will be covered for the same.

What’s not Covered?

Since we really believe in transparency, here are some situations that won’t be covered... 

Any mechanical or electrical breakdown failures, including burning out of any bulb, short-circuiting, or overheating.  

Disfiguration, scratching, cracking or chipping, and breakage of the lettering unless it causes loss or damage to the sign board.

If damage is caused to the frame or framework without any damage to the sign board, it won’t be covered.

Any pre-existing damage, or damage due to gradual deterioration, and wear will not be covered, nor the cost of upkeep and maintenance.

Damages and losses that occur while altering, removing or repairing the sign board are not covered.

Loss or damage arising due to defective design or workmanship, or if the sign board is not securely fixed.

Any consequential losses (like loss of profit or business interruption) aren’t covered for.

Losses caused due to a war, terrorism, or nuclear disaster will not be covered.

Death or bodily injury of those employed or contracted by your business, including any contractors' sub-contractors.

Damage to any property that belongs to you (the insured person or business).

Any loss or damage caused willfully by you, an employee, family member, or person acting on your behalf.

You will not be covered in case of confiscation or detention by any government or public authority.

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...

Your business has sign boards to identify it (such as showrooms, shops, boutiques, dealerships, and more)

Your business has sign boards for decoration. (such as restaurants, hotels, theatres, etc.)

Your business uses signboards for advertisements (for example, advertising agencies, PR agencies, or other business that advertise their products)

How to choose the right Sign Board Insurance?

  • Compare different policies - So, compare the features and premiums of different policies to find the right one for you at an affordable price. Don’t just pick a policy with a low premium that might not give you the right coverage.   
  • Complete Coverage - Look for a policy that offers you maximum coverage for all the risks to your business’s signboards.
  • Sum Insured - Pick a sum insured based on either the Market  Value or Replacement Value of the signboards, depending on which is better for your business.   
  • Easy Claims Process - Claims are really important, so, look for an insurance company that has an easy claims process; it can save you and your business a lot of hassle. 
  • Extra Service Benefits - Insurance companies offer all kinds of other benefits, such as 24X7 customer assistance, easy-to-use mobile apps, and more.

FAQs about Sign Board Insurance in India