Rising insurance costs for property and liability coverage are placing growing financial pressure on U.S. radio and television broadcasters.
Broadcasters face a wide array of risks — including towers, antennas, buildings, broadcast equipment, vehicles, business interruption, special events and workers’ compensation — that have driven up premiums significantly in recent years.
Insurance experts say proper coverage is essential but increasingly expensive. The NAB endorses partners such as Axis and Amwins for tailored property and casualty policies. Amwins associate director Laurie McKenzie emphasized that broadcasters need accurate coverage limits, proper documentation of building details and protective features, and risk-reduction steps after past losses.
RadioWorld reports remote infrastructure is frequently exposed to severe weather such as ice storms, flooding and wildfires, while unique industry liabilities like defamation, copyright infringement, regulatory fines, vandalism and copper theft add further cost.
A stark example occurred in 2024 when copper thieves brought down the tower of Payne Media Group’s KITX(FM) in Hugo, Okla., taking the station off the air. President Will Payne said insurance covered only about 80% of the loss, after which the station faced policy cancellation and a doubled premium on renewal. Replacement gear purchases also required waiting up to 10 months for reimbursement.
Strategies to control costs include higher deductibles where feasible, bundling policies (property, liability, auto and umbrella), and maintaining strong contracts with vendors that include hold-harmless provisions.
Standard general liability policies typically exclude content-related claims, McKenzie noted, so broadcasters should obtain separate media liability or broadcasters’ liability coverage. She also advised reviewing and updating policies whenever equipment is added, listing accurate tower locations with geo-coordinates, and installing security measures like cameras, fencing and alarms at remote sites to avoid exclusions or higher deductibles.
Rising premiums stem from increasing weather volatility, higher rebuilding costs, elevated steel and labor prices, supply chain issues, and greater scrutiny of cyber risks and equipment breakdown. Auto insurance costs are also climbing, making driver screening and fleet safety critical. Some carriers have stopped offering cyber liability coverage for broadcasters.