Private investigators need liability insurance to do their jobs effectively. Many risks are integral to this line of work, as our concerns about privacy. PIs often face lawsuits and other challenges, so insurance is critical. This vulnerability to liability can only be addressed with coverage made for private investigators and their specific risks.
Not every insurance company is ready to provide insurance for private investigators. Because of the risks PIs face, many insurers are not willing to meet their needs. Prime Insurance Company will place challenging risks, including providing insurance for private investigators.
Common coverages for private investigators include general liability insurance, covering against bodily injury or property damage. Auto liability insurance protects against risks while driving a business vehicle or a personal vehicle used for business. Those who run a physical firm at a business location may want to invest in property coverage as well.
There are coverage options for invasion of privacy claims, which often come with the territory of private investigation. Additional insurance for private investigators may include professional liability, or errors and omissions coverage, defending against errors or negligence.
Why is this insurance for private investigators so important? PIs may find themselves held responsible for financial losses and other negative impacts of their work, if the information they provide is not quite right. If a PI’s work leads their client to make a poor decision, the client is likely to seek recourse. A professional liability policy stands between your PI clients and expensive lawsuits.
If your clients are wondering what kind of lawsuits they might face as a PI, we have plenty of examples. In North Carolina, an Iranian aviation executive who lives and works in America filed suit against a private investigator alleging the PI hired hackers. It is part of a larger legal battle between the businessman and the investment authority of one of the United Arab Emirates. If successful, the businessman is seeking monetary damages.
In Idaho Falls, a family sued a PI for breach of contract, infliction of emotional distress, libel, slander, and fraud. This happened after the PI gave his opinion about his investigation into the disappearance of their family member, implicating the family themselves. The family believed that was defamatory and violated confidentiality in their contract with the PI. Ultimately, the case was dismissed, but legal costs for the PI reached over $150,000.
One particularly challenging aspect of insurance for private investigators is firearms liability. Private investigators have no special rights to carry a gun. They must meet the same requirements and regulations as any citizen.
That said, a private investigator may find themselves in the position to use a firearm more frequently than the average citizen. That is why it is vital to consider firearms liability and concealed weapon insurance, if applicable. If a PI does have to use their firearm for self-defense, this coverage would protect against liability.
Private investigators insurance is critical. Prime Insurance Company ensures that your clients are covered with every protection they need. Even if a client has been turned down in the past by other insurers, or has a negative history, we work to find a solution.
Part of the reason we can handle tough risks is our risk prevention strategy. Our in-house team of experts assesses each client and their situation, determining where risk can be mitigated or prevented. Again, this advice is tailored to the specific PI, rather than a generic offering that does not fit their issues.
As an insurance producer, you can expect to know as much about our work with your clients as you want. We believe in partnership and work hard to keep insurance producers and insureds informed. If there is a claim, that work continues, with 24/7 direct availability.
Through working with Prime Insurance Company, your PI clients can do the work they enjoy and make a living without fear. We operate in a way that reduces their risk and we are ready to leap into action for any claim.
We are happy to help your clients secure insurance for private investigators with our online application today. You can also call Prime Insurance Company at 800-257-5590 or email us at info@primeis.com. Insurance producers and clients can also check out Facebook, Twitter, YouTube, LinkedIn, and Instagram to keep up with our team. Check out our website to learn more about Prime Insurance Company at https://www.primeis.com/.
Authored by Rick J. Lindsey, CEO, President, and Chairman of Prime Insurance Company
Rick J. Lindsey hails from Salt Lake City, Utah. He began working in the mailroom of his father’s Salt Lake City insurance firm, getting his introduction to the business that became his lifelong career. Lindsey quickly rose through the ranks while working in nearly every imaginable insurance industry job. As an entrepreneur, specialty lines underwriter, claims specialist, risk manager, and a licensed surplus lines broker, Rick Lindsey is highly skilled in all levels of leadership and execution. As he progressed on his career path, Rick discovered an urgent need for insurers willing to write policies for high-risk individuals and businesses. He was frequently frustrated that he could not provide the liability protection these entities desperately needed to safeguard their assets. He also formed the belief that insurance companies acted too quickly to settle frivolous claims. Lindsey decided to try a different approach. He started an insurance company and became the newly formed entity’s CEO. This opportunity has enabled Rick to fill a void in the market and provide a valuable service to businesses, individuals, and insurance agents who write high-risk business. Prime Insurance also specializes in helping individuals and businesses who live a lifestyle or participate in activities that make them difficult for traditional carriers to insure. If you’ve been denied, non-renewed, or canceled coverage, don’t give up quite yet. Chances are Prime Insurance can help.
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