In one sense, whether you should obtain insurance that will minimize what you may have to pay for a libel claim involves the same consideration you would give to any insurance coverage; it's a question of determining if the cost for the premium is worth the potential risk and liability you might face. However, unlike the standard insurance policies you may have to cover your health, life, home, and auto, it's not very likely you'll find yourself as a defendant in a libel suit — especially if you follow the guidance provided in this chapter and in Chapter 5 concerning your fact gathering.
To minimize your exposure and risk to a libel claim, you can ask your publisher to name you as an “additional insured” under its publisher's liability policy. This is standard practice in book contracts but it's not common if you freelance for newspapers, magazines, journals, and other media.
Once again, the best guidance to avoid libel is to be as certain as you can that your representations are accurate, because truth is not only an absolute defense to libel but the best defense as well.