A couple of months ago, I wrote a post concerning the potential need for liability insurance. The comments ranged from it being unnecessary and a potential waste of money, to fear of not having it and deciding to research it further. Today, one of our followers let us know that a major bookstore chain would only carry his book if he had liability insurance, so he asked us for a recommendation.
While neither Mary nor I have anyone personally to recommend, I did discover that the Authors Guild is now offering media liability insurance policies for their members.
Have any other authors needed to carry liability insurance as part of a bookstore deal? We're curious to learn if this is becoming a trend.
You've worked hard earning every penny of your ebook and print book profits - so imagine losing it all in a legal battle over the originality of your story or characters. Today, just the act of defending yourself in court, regardless if you're found guilty or innocent, could create financial ruin.
Does this really happen and do authors really need to protect themselves?
This great question was posed to me recently and it's one I hadn’t really thought about, before now. Since Mary’s book was centered around herself and her family, she was in a lot less danger of being sued over copyright infringements or misrepresentations. But, for authors not writing memoirs or autobiographies, they may want to consider protecting themselves, especially since we live in such a litigious world. Just ask J.K. Rowling, who had to defend her idea of the Triwizard Tournament she wrote about in the 4th book of the Harry Potter series. Fortunately, she was on her way to becoming the first billionaire author, so she had a cushion to fall back on. But, the average author is not as lucky.
As I researched this subject, I learned that surprisingly all authors, even those publishing traditionally, need to consider carrying liability insurance as the traditional publishing houses are no longer fully protecting authors under their policies.
For more information on the reasons and resources for obtaining coverage, check out this interesting article by Amy Cook on the Writers Digest website.
Do you think it’s necessary to have Liability Insurance? Have you purchased a policy and/or faced a legal battle over your book?
I’d love to hear your thoughts and experiences.