Frequently Asked Questions About
Commercial General Liability Insurance
How much does commercial insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number.
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it.
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Corporate Wellness Insurance Washington
Corporate Wellness Insurance Washington Changes to the Affordable Care Act have created new incentives for companies to offer wellness programs for their employees. This is aimed at reducing the healthcare costs for businesses and improving the health of employees.
To make this possible corporate wellness professionals create specialized programs that promote consistent, healthy behaviors at the workplace. Wellness counselors offer a wide range of wellness services for their clients, treating their anxiety, depression, grief, and sometimes offering more holistic treatments for nutrition and lifestyle.
As a corporate wellness professional, you are exposed to the possibility of legal action being taken against you in respect of your legal responsibility for property damage or personal injury arising as you provide your services. Claims can be expensive to defend and even more costly if you're found legally liable. With corporate wellness insurance Washington, you can cover professional liability and other business risks as you provide your services.
Corporate wellness insurance Washington protects your business from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
Professional Liability Insurance: As a corporate wellness professional, the advice, treatment, and services you offer your clients' employees have the potential to change their lives. Yet this rare and incredible opportunity can be a double-edged sword. When others turn to you to improve their health and quality of life, in some cases you find that lives literally depend on your services. Even seemingly simple negligence could escalate into costly court cases.
Professional liability insurance, also known as errors and omissions insurance (E&O), offers indemnity and expense protection for errors and omissions emanating from professional mistakes. These include professional negligence, provision of services that are below the prevailing standard of care, and misrepresentation.
Policy terms and conditions for professional liability insurance are not standardized and must be reviewed closely. Some key components to look for are incident-sensitive trigger, defense outside limits and prior-acts coverage.
Commercial General Liability Insurance: General liability protect your WA wellness business from claims made for third-party bodily injury and property damage. For example if you spilled coffee on a clients computer, or they slipped and fell in your office. This corporate wellness insurance Washington covers medical expenses and any other costs associated with legal defense.
Cyber Liability Insurance: Someone steals sensitive client information from your office computer system. Or you accidentally leave your laptop containing saved logins for your office network in a cab. Data breaches can happen in a variety of ways, but the legal and regulatory costs can be extremely damaging to your business. Data breach will protect you from those expenses.
Workers Compensation: Workers Comp is mandatory in most states for any non-owner employees. WA workers comp covers your employees' lost wages and the cost of resulting medical treatment if they suffer a work-related injury or disease. It also covers services needed to help the employee recover and return to work.
Commercial Property Insurance: This corporate wellness insurance Washington indemnifies you for the loss of company property. Company property is an extremely broad term and can refer to anything from buildings and equipment to business records and supplies. Often, most WA professional wellness providers will purchase a very specific form of property insurance to cover individual risks.
Employee Crime and Dishonesty Coverage: This corporate wellness insurance Washington coverage will protect you from the costs of theft, dishonesty and fraudulent acts committed by an individual employee or a group of employees. It provides coverage for forgery, alteration, theft, unauthorized electronic funds transfers, credit card fraud, computer fraud, money order fraud and counterfeit fraud.
WA Corporate Wellness Insurance
Everyone wants to be healthier. And as a WA corporate wellness solutions provider, you have more power than you may realize to give your clients' employees the gift of greater health. From providing education, wellness fairs, and health risk assessments, to hosting preventative vaccine drives and offering health and fitness coaching - you can help change their lives in profoundly positive ways.
For greater confidence when providing your services, you should get a wide-ranging package of insurance policies to cover your liabilities, potential property loss scenarios, and other situations that could cost your practices thousands of dollars in unexpected costs. Mark yourself as an ethical and serious corporate wellness counselor by being properly insured.
Washington State Economic Outlook & Business Insurance Requirements
For anyone who is thinking about starting up a business, it is important that they choose a location that suites the industry that they wish to work in. With that said, in order to determine whether or not a location is the right choice for your business, you should have an idea about the state's economic status. You should also have an understanding of the WA state regulations related to the types of commercial insurance that you are required to carry.
If you are thinking about starting up a business in the State of Washington, below, we offer some insight into the state's economic status. We also offer a glimpse at the WA insurance requirements that business owners must abide by.
State Of The Economy In Washington
Washington state may be famous for its gloomy weather, but when it comes to the economy, things here look bright. The economic outlook for Washington is healthy. It is expected that there will be more jobs added in the 2019 calendar year. There will be an increase in the productivity of labor. There will also be an increase in the state's unemployment rate during the year 2019, with a forecasted rate of 4.7 percent.
Washington is regarded as one of the top for businesses in the nation. In fact, it is listed at the 11th best state for business by Forbes. The industry that is expected to see the most growth are related to STEM (science, technology, engineering, and math). Among the top industries in this state include information technology. Education, healthcare, finance, and travel and tourism also contribute largely to the awesome economy of this state.
Commercial Insurance Requirements In WA
The Washington State Office of the Insurance Commissioner regulates the insurance industry in WA. Businesses are legally required to carry workers' compensation insurance. This type of coverage is required for any business that employs either hourly or salaried employees, and either part-time or full-time employees. You are also required to carry commercial auto insurance if you use a vehicle to conduct any type of business in this state. That means that if you are using a car to transport goods, make deliveries, or meet with clients, you must carry business auto insurance.
While commercial general liability insurance is not required in Washington, it is highly recommended. This type of insurance offers protection from lawsuits and other legal fees that may arise.
Additional Resources For Professional Services Insurance
Get informed about small business professional services insurance, including Professional liability, aka errors and omissions (E&O insurance), that protects your business against claims that a professional service you provided caused your client financial loss.
- Answering Service
- Attorney Lawyer
- Business Consulting
- Corporate Wellness
- Court Reporter
- Debt Collection Agency
- Electrical Engineering
- Executive, Career & Life Coaching
- Executive Search Firm
- Expert Witness
- Financial Services
- HR Consultant
- Mediator - Arbitrator
- Medical Billing
- Music, Drama & Dance Therapy
- Project Management
- Temporary Staffing
- Tax Preparer
Let's face reality. People today are claims conscious, resulting in a significant share of malpractice lawsuits against professionals.
Liability resulting from the rendering of or the failure to render professional services is excluded in most liability coverage forms. This means that a policy covering a account's or lawyers' office will cover liability arising out of the maintenance or use of the premises, but specifically exclude liability arising out of the rendering of a professional service or the omission of such a service.
In addition to the professions in which actual physical or mental injury may be caused to clients, certain other professions are exposed to claims for malpractice.
Claims may be brought against lawyers, accountants, architects, and similar professional persons for errors or omissions in their professional capacity. Errors & Omissions insurance pays damages that might be awarded to a plaintiff alleging professional negligence.
Professional liability policies are made available to such risks, and these policies provide essentially the same protection as is afforded under the physicians, surgeons or dentists professional liability policy.
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Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Fireman's, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, LLoyd's of London, Markel, MSA, Nationwide, Penn America, Philadelphia, Prime, Progressive, Scottsdale, The Hartford, Travelers, USLI, Utica First, Western World, Zurich & others.