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 Public Relations Insurance
Delaware Public Relations Insurance. Public relations agencies are primarily engaged in designing and implementing public relations campaigns for their clients. They also engage in lobbying, political consulting and media relations on behalf of their clients. They are paid large sums of money to engage in these activities. They are often needed because a situation is already delicate and their expertise is required to smooth things over.
But even the most tactful and strategic PR professionals sometimes find themselves on the receiving end of angry accusations of libel, slander, or defamation. Unintended plagiarism & client record theft are other common causes of claims against your firm. Defending yourself against negligence claims like these costs time, money and can damage your own & your firm's reputation - that's why it's important to be fully covered.
If a client sues your firm, how much would it cost? For most firms, the cost of a lawsuit - often six or seven figures - could be devastating. Fortunately, Delaware public relations insurance can help offer protection by paying for your legal expenses.
Delaware public relations insurance protects your PR firm from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
Why Do PR Firms Need Professional Liability Insurance?
In the constantly changing world of PR it can be easy to make a mistake and when your firm is representing others, you need to ensure that you have Delaware public relations insurance protection. As an example, a DE PR firm could be sued because they failed to improve the image of a professional athlete, resulting in the loss of a corporate endorsement. Also, a PR firm could be sued by a lobbying organization because they did not succeed in changing public opinion regarding a certain issue.
Due to the possibility of facing expensive lawsuits, public relations consultants should consider purchasing professional liability, also know as errors and omissions (E&O) insurance. This Delaware public relations insurance covers you for the financial consequences of any mistakes you, or your staff, may make in providing professional advice. It also protects against allegations of professional misconduct or negligence to help safeguard your personal and business reputation.
If you're sued, your legal bill could easily reach six figures. Think about all of the potential costs:
- Lawyers' fees.
- Expert witness expenses.
- Settlements costs.
- Damages owed to a client, customer, or other injured party.
Professional liability insurance can cover these expenses, shielding you from the high price of a lawsuit.
How Much Commercial Insurance Do PR Firms Need?
You have to decide what level of cover is enough for you. Consider what you do, who you do it for and how much it's worth. Think about worst-case scenario and what could go wrong. Always bear in mind that it better to have too much coverage a opposed not enough. Your legal defense can be very costly. Your Delaware public relations insurance coverage has to be enough to cover all of this.
Other Types Of Public Relations Insurance
Commercial General Liability Insurance: General liability protects your firm from a variety of claims, including property damage and bodily injury. For example... If you're meeting with a client and spill coffee on their laptop, you're legally liable for causing the damage (and potentially for loss of documents and data, too). Also, slip and fall type accidents in your DE office are covered as well.
Workers Compensation: Workers comp for PR firms covers the cost of compensation if an employee of your business is injured or becomes ill as a direct result of the work they undertake for your firm. If your firm has any employees you are required to hold an employers' liability insurance policy by law in most states.
Directors and Officers Liability: This Delaware public relations insurance protects directors and officers of your firm if there is a lawsuit claiming they managed it without proper regard for the rights of others. The policy will pay any judgment for which you are legally liable, up to the policy limit. It also provides for legal defense costs, which can be substantial even where there has been no wrongdoing.
Business Owner's Policy (BOP): BOP insurance bundles basic coverage from property and liability risks into one package. This type of Delaware public relations insurance often includes coverage for property, liability, crime, and flood. BOP also often includes business interruption insurance, which reimburses you up to a year of lost revenue from damages. BOP insurance does not include coverage for E&O and commercial vehicles. DE workers' comp, health, and disability insurances are also not part of a BOP.
DE Public Relations Insurance
You know you need public relations insurance to protect your firm. But how much do you need to set aside in your budget to cover the costs? Your insurance costs vary depending on your firm's size, location, among a other factors. Talk to a professional insurance broker to get more information.
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 Advertising, Marketing & Media Insurance
Learn about small business media liability insurance - a specialized form of professional liability insurance that provides protection for legal claims brought by third parties.
- Advertising Agency
- Call Center
- Graphic Designers
- Market Research Firm
- Marketing Consultant
- Public Relations
- Search Engine Services SEO
- Social Media Consultant
Media operations are fast-paced businesses with unique property and liability insurance exposures. They depend more and more on computer systems and up-to-date software programs. These businesses usually have extensive contracts with both freelance individuals and corporations.
In addition, personal injury liability and confidentiality issues must be addressed. Insurance coverage for these concerns must be as comprehensive, flexible and responsive as the organization seeking it.
Advertising and Media Liability Insurance provisions are not standardized, so it is critical to carefully review a particular form's basic features and available coverage options. While some carriers offer coverage on an open perils basis, most will provide coverage only on a named perils basis.
The named perils generally include coverage against allegations involving defamation, disparagement of an individual's reputation, product disparagement, invasion or infringement of the right of privacy, infliction of emotional distress, plagiarism, piracy, infringement of copyright, trademark, or other intellectual property, newsgathering torts such as trespass and assault, unfair competition with respect to other covered communication perils, and errors and omissions.
Coverage can be written on a claims-made basis or on occurrence-based forms. The occurrence basis affords additional protection to the insured as coverage is provided for a claim or event occurring during the policy period, even if the coverage expires or is cancelled or nonrenewed.
Most media liability policies provide a Limit of Liability per event, plus an Aggregate Limit of Liability for all events covered during the policy term. Some carriers now offer coverage without requiring an Aggregate Limit of Liability. Such a policy is an advantage to the insured as this eliminates the fear that the policy limits will run out before the policy expires.
Request a free Delaware Public Relations 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.