Frequently Asked Questions About
Commercial General Liability Insurance
How much does small business 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. (read more)
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. (read more)
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.
Delaware Draftsman Insurance
Delaware Draftsman Insurance. In years gone by, engineers and architects would mostly work out the design to built, then it would be the responsibility of the draftsman to redraw sketches and distribute to builders. Nowadays, draftsmen are taking on more and more responsibility. A draftsman will work with clients to offer technical building drawings, for architectural or engineering work.
On a day to day basis, the job of a draftsman entails creating sketches, speaking directly with clients, and advising the best approach to design a building, a piece of machinery, or transport device. This is a very important undertaking to get right. However, you're at risk for numerous things and despite your best efforts, minor miscalculations can happen.
One of your prime risks is liabilities related to clients and visitors, alongside other general risks of any occupation. As a result, it is becoming more necessary for a draftsperson to ensure that they have been fully covered with the suitable insurance. Delaware draftsman insurance can help avert financial struggle following an unexpected event.
Delaware draftsman insurance protects your firm from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Why Do Draftsmen Need Business Insurance?
The main reasons why a draftsman would need to get Delaware draftsman insurance, relate to the state they are working in, the kind of work that they are doing, and any other licensing arrangements and legal requirements they need to adhere to. And as any other business, it is sensible to want to protect your work and yourself against potential claims - even doing CAD/CAM | computer-aided design work. This is because in any complex project, there is always a certain inherent amount of risk whether you own your own firm, are an independent draftsman or work as a design consultant.
On the other hand, you may have the impression that you don't have liability since a licensed engineer or architect signs off on your work. Nonetheless, if there is an issue, often everyone involved in the assignment may be sued, even if you aren't at fault. In case this happens to you, you will be liable for your own protection and defense until liability is established.
Most small design consulting firms and independent contractors don't have big financial muscle. In case you or your firm was to be litigated for an error or omission, your legal defense rates would add up fast. Even worse, if a ruling were made against you, having to pay recompense could be sufficient to sink your business. Having the right Delaware draftsman insurance will help protect you in the event the worst happens. This will allow your firm to continue to flourish while you fight any legal charges.
Types of Draftsman Insurance
Delaware draftsman insurance can fit your individual business needs. Small design businesses and independent design consultants can consider the following types of coverages:
General Liability Insurance: This is important Delaware draftsman insurance, since it includes numerous types of coverage. One is premises liability - in case any customers visit your offices and get injured on the sidewalk or in your shop. If measurements were incorrect because of the drafting job you completed and that resulted in damage to the new building, this will be covered under completed operations.
BOP (Business Owner's Policy): As a business owner of a design firm, the majority of your work will comprise a combination of science and artistry. Since many of your project assignments are built on intellect, your drafting business might not suffer the same nature of physical threats or possibility of property damage as other kinds of firms. In case your insurance provider concludes that your business risks are small, you may be eligible for a BOP. A Business Owner's Policy combines your property general liability policies (including business income) to give you one discounted Delaware draftsman insurance bundle.
Professional Liability: Also know as errors and omissions (E&O), Professional liability is specifically designed to protect a drafting business against negligence claims from third parties. The claims can be that professional duty has been breached or for bodily injury or property damage alleged to be attributed to the actions or omissions by the professional.
Business Property: In case your portable equipment, like electronic devices, get stolen or lost, they can be very costly to replace. Business property insurance policy helps ensure that the portable items you use in your work as a draftsman are covered. With a DE commercial property coverage, your business can also be covered against fire, theft wind and perils.
Workers' Compensation: Workers comp is a requirement in most states for any non-owner or partner employees. It provides coverage for your employees against work-related illnesses or injuries. DE workers comp provides basic benefits, including medical care, temporary disability benefits, permanent disability benefits, supplemental job displacement benefits and a return-to-work supplement, and death benefits.
DE Draftsman Insurance
These insurance policies are flexible. To cover most, if not all your professional risks, you require multiple insurance plans. Industry specific experts may have a clue of the best insurance packages and providers available for your needs. They can help you choose coverage from these Delaware draftsman insurance policies that is perfectly matched to the needs of your business. These draftsman insurance plans will cover most of the business risks.
Delaware Economic Data & Commercial Insurance Regulations
For entrepreneurs who are thinking about starting up a business in Delaware, it is important to have an understanding of the state's economic outlook, as well as the regulations and limits regarding commercial insurance. With this information, you can determine if DE is, in fact, a wise location to start your business.
Below, we offer a brief overview of Delaware's economic status and the rules relating to commercial insurance.
Economic Trends For Businesses In The State Of Delaware
Delaware is home to more than 1 million businesses. This includes over half of all of the publicly traded companies in the United States, and 64 percent of the country's Fortune 500 companies. Delaware is such an appealing place for entrepreneurs because the state offers flexible corporate laws and a government that is very friendly to business owners.
The economic outlook of DE has become softer. As such, Delaware has moved down eight spots on the Forbes' Best States for Business list. The costs of operating a business are about 21 percent lower in Delaware than the national average. It is also one of the lowest ranking states in regard to labor costs. With that said, job growth is expected to reach .8 percent by the end of the 2019 calendar year. The unemployment rate is expected to remain lower than the national average, at an estimate 4.7 percent.
The industries that contribute the most to Delaware's economy include:
- Hotel & Hospitality
It is expected that these industries will continue to see growth, but there is a need for more skilled labor in these areas.
DE Commercial Insurance Regulations
The Delaware Department of Insurance regulates the insurance industry in DE. Commercial liability insurance, commonly referred to as general liability insurance, is the most common type of coverage that business owners carry. In the state of Delaware, business owners are not required to carry this type of coverage in order to operate. This state is considered a modified comparative fault state that has a negligence standard of 51 percent. The government does not put any caps on awards that are offered to those who file personal injury lawsuits against businesses in Delaware. As such, it is wise for business owners in this state to invest in commercial liability insurance, even though it isn't required.
Business owners are required to carry workers compensation in Delaware. This includes businesses that employee one or more hourly or salaried W2 employees.
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
- Detective Agency
- Electrical Engineering
- Environmental Consultant
- Executive, Career & Life Coaching
- Executive Search Firm
- Expert Witness
- Financial Services
- Financial Planner
- 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.
Request a free Delaware Draftsman insurance quote in Arden, Ardencroft, Ardentown, Bellefonte, Bethany Beach, Bethel, Blades, Bowers, Bridgeville, Camden, Cheswold, Clayton, Dagsboro, Delaware City, Delmar, Dewey Beach, Dover, Ellendale, Elsmere, Farmington, Felton, Fenwick Island, Frankford, Frederica, Georgetown, Greenwood, Harrington, Hartly, Henlopen Acres, Houston, Kenton, Laurel, Leipsic, Lewes, Little Creek, Magnolia, Middletown, Milford, Millsboro, Millville, Milton, New Castle, Newark, Newport, Ocean View, Odessa, Rehoboth Beach, Seaford, Selbyville, Slaughter Beach, Smyrna, South Bethany, Townsend, Viola, Wilmington, Woodside, Wyoming and all other cities in DE - The First State.
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.