Yesterday we ran a post about the rising cost of out of home property insurance and asked readers about their insurance arrangements. Here are the results.
- Approximately half (52%) of Billboard Insider readers insure some or all of their billboard plant against damage.
- Approximately one in five (21%) of our readers have reported an insurable loss claim due to a damaged billboard.
Billboard Insider’s take: No surprise that half of our readers have property insurance on billboards but we doubt that 50% of the billboards in the country are insured against damage. Most digital billboards are insured because each digital face costs 4 times as much as the steel monopole. Static billboards are cheaper to replace and we suspect out of home companies do not insure them against damage unless their bank lenders require it. Billboard Insider would like to hear stories from readers who have filed insurance claims on damaged billboards. What was the source of the damage? Email davewestburg@billboardinsider.com or use the comments section below.
If you wish to discuss billboard insurance contact Chris Bassler at Bassler and Co or Brian Cone at The Cone Company. See contact info below.
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