Small Business Liability Insurance
Just Like Casual Sex, You Need To Be Protected At All Times
You're a "Litigated Man Walking" If You Don't Have Liability Insurance.
It’s critical that you choose the right small business liability insurance.Every company needs small business liability insurance, it’s only the details that vary between companys. Determining your company’s specific requirements will save you money by reducing premiums and voiding over-insuring your business. And the cost of insurance needs to be built into your
small business plan.
Beware The Jargon.
The jargon used by insurers can be intimidating & confusing. The term “employers liability insurance” could be used to refer to worker’s compensation, which is required in most states for any company that has regular employees that receive a W2 form. In some states, worker’s compensation insurance is required for companies that hire contractors, as well. This type of policy covers your employee’s medical or disability expenses incurred through workplace injury or illness. Employers liability insurance could also refer to policies that protect your company in the case of damage done by your employees. For example, you own a garage and your employee crashes a customer’s vehicle into the side of your building.
Professional Coverage.
Some professionals need a specific type of small business liability insurance that is commonly referred to as “errors and omissions” or E & O. As the name suggests, this policy covers damages incurred by a customer or client because of mistakes that you, your partners or your employees made. Professionals that may need E & O include realtors, home inspectors and appraisers, website developers, insurance agents, chefs, interior designers and decorators. E & O is usually referred to as malpractice insurance when it is used to cover doctors, nurse practitioners, massage therapists, chiropractors and other healthcare professionals.
Who Pays For The Damage?
Cleaning companies sometimes purchase employers liability insurance to cover damage done by their staff. Although the employees are generally bonded, to insure against theft, additional coverage may be purchased to cover accidental breakage of expensive items. Your goals are to protect your company and, in some cases, your customers or clients. While no one wants to experience an actual worst case scenario, it certainly pays to be prepared.
Always, Always Shop Around.
Got it!!And it's a smart idea to have your
commercial insurance quoted online
because it will save you a ton of time & effort. Shopping around for the most cost effective coverage is one of the smartest
small business ideas
you'll ever make. Rates vary from one company to another and from one state to another. It is a good idea to get several quotes and compare. You may be able to save money with a “package deal”. A business owners’ policy or BOP combines your needs for small business liability insurance, employers liability insurance and other types of coverage, making each one more affordable.
Modern Net-Wit:
"What is it with chimpanzees and that middle parting?
Stuck in the twenties, aren't they?" ....................................................................Harry Hill
Return from Small Business Liability Insurance page back to Low Budget Marketing Methods home page
|
