Indiana Personal Concierge Insurance

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Indiana Personal Concierge Insurance Policy Information

IN Personal Concierge Insurance

Indiana Personal Concierge Insurance. As a personal concierge, the duties you'd be required to perform on the job could be so varied and extensive that it's hard to predict how most things will go. Whether you're a business owner who runs a personal concierge business to service a variety of clients or a single-service assistant looking to get covered, then you'd be glad to know that there's no shortage of Indiana personal concierge insurance options available to suit your specific needs.

In general, when you run a business it is wise not to overlook the importance of protecting yourself from the financial risks you're exposed to in the usual operations. Even more so, as a personal assistant or concierge business since your job description is not always clear-cut and you may find yourself performing tasks that make you vulnerable to damage or fraud claims among others.

Indiana personal concierge insurance protects your service from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.

Why Own A Personal Concierge Business?

If you thrive on variety, enjoy providing assistance to others and generally have a schedule that is flexible enough to allow you be "on-call", then you may be right in considering starting up a personal concierge business.

What's also great about this small business idea is that it has much room for growth, through expansion and combining services, as well as word-of-mouth referrals from satisfied clients or low-cost marketing strategies. There is also longevity in partnering with well-paying, reliable clients, as most people do not want to change assistants often. Your business could also start of large, if you are able to pitch your personal concierge services directly to a local IN company or organization that is seeking to offer employees personal assistants as an included benefit.

Some people may not see the need to purchase Indiana personal concierge insurance before beginning their business operations, but it is particularly important here because of the central and dynamic role of a personal concierge.

What Kind of Personal Concierge Insurance is Available?

The good news is that once you decide to get Indiana personal concierge insurance, then you can ask about premiums, deductibles and the lengthiness of the claim process to figure out which coverage you need. Some coverage options that may be available depending on your exact location or states of operation include:

  • Professional Liability Insurance
  • General Liability Insurance
  • Commercial Automobile Insurance (for cars, trucks or vans used in your business operations)
  • Property Insurance
  • Employment Practice Liability Insurance
  • Workers Compensation
  • Surety Bonds
  • Cyber Liability

After reviewing your business activities and the coverage you may need, you can apply for multiple services offered by your IN personal concierge business. It is important to compare provider costs to ensure you're not paying more than you have to. Also, that your Indiana personal concierge insurance covers all the primary roles you execute as a personal assistant or concierge.

Additionally, some other alternatives exist to those on the market for Indiana personal concierge insurance. As a business owner offering personal assistant services you could opt for any of the following types of coverage:

  • Personal Concierge Insurance
  • Personal Assistant Insurance
  • Individual Policies
  • Entity Policies
  • Fidelity Bond Protection
  • Business Owners' Policies

Services Provided By Personal Concierges

Again, personal concierge businesses engage in a variety of tasks that can depend on each client's needs and but some of the services include:

  • General assistance in tasks (both office & home)
  • Running of errands
  • Personal shopping (possibly grocery shopping)
  • Scheduling of appointments
  • Drop off/pick up of items (including laundry/dry-cleaning)
  • Organization of bills, receipts, documents
  • Notary services

Common Risks Associated with Personal Concierge Businesses

Still wondering what the possible risks are that require you to secure Indiana personal concierge insurance for your business? Here are some of the common liabilities of IN personal concierge businesses that could be potential claims:

  • Failure to complete assigned tasks on time leading to losses
  • Causing bodily harm or injury to a third party while on the job
  • Causing accidental damage to a client's home or property
  • Accidentally taking action that leads to significant financial losses for a client
  • Loss of valuable property, money or asset while in your custody
  • Overall mishandling of
  • Automobile crash/accident during transport

How To Buy Personal Concierge Insurance

Following this three-step process, you can ensure that you procure insurance or get bonded the right way:

  1. Create a list that details the services your personal concierge business provides to all the clients you have signed on (or plan to). Making sure that your list is complete will help the insurance carrier or bonding company determine accurate coverage plans and reasonable premiums. This same list will also ensure that when you have a claim, the insurance or bond company has your back and pays.
  2. With your list in hand, and a market survey of what others are getting charged in mind, you can now contact independent insurance agents that offer commercial insurance to businesses like yours. Most basic coverage for personal concierge businesses will include general liability insurance, surety bonds and auto insurance. However, you should be able to tailor their package to suit your potential needs. Discuss your needs with as many insurance agents representing different companies as possible, so you can get a wider range of costs to compare.
  3. Ask about the specifics of their liability insurance for your personal concierge business. This is particularly important since the duties on the job may vary from client to client. This way you can ensure you have the coverage you need.

IN Personal Concierge Insurance

If you think Indiana personal concierge insurance is expensive, and think you can get by without it, then you are making a large mistake. Something you are doing to try to save yourself some money could end up ultimately costing you far more money.

Indiana Economic Data And Business Insurance Regulations

Made In Indiana

There are many factors that lead to the success of a business; top on the list of importance is location. In order to thrive, it's essential for a business to be located in an area that offers a favorable economic climate. Regardless of how high-quality the products and services a company offers, if isn't located in an area that will benefit from those products and services, success is going to be a struggle. Furthermore, it's important for business owners to know what type of commercial insurance they are required to carry in the state they are operating in.

If you are thinking about starting a business in Indiana or expanding your existing company to the state, you'll want to familiarize yourself with its economics and commercial insurance requirements before you set up shop. Below, we provide an overview of economic trends and types of insurance coverage business owners need in The Hoosier State.

Economic Trends For Indiana Business Owners

As of January, 2019, the unemployment rate in the state of Indiana was 3.5 percent; .4 percent lower than the national average, which was 3.9 percent at the start of the year. The unemployment rate in The Hoosier State has been holding steady for more than five years, as it has been below the national average since 2014. It's expected that this rate will continue to be the norm for 2019 and the next few years.

All areas throughout the state of Indiana are favorable for business owners, as both urban and suburban areas offer suitable conditions. According to economists, the best areas to start a business in The Hoosier State include:

  • Auburn
  • Batesville
  • Bluffton
  • Clarksville
  • Decatur
  • Jasper
  • Monticello
  • Rensselaer
  • Warsaw

Several industries thrive in Indiana, but industries that are seeing the most growth in the state include:

  • Agriculture
  • Auto manufacturing
  • Information technology
  • Life sciences
  • Mining
  • Research and design
  • Transportation
  • Wholesale and retail services
Commercial Insurance Requirements In Indiana

The Indiana Department of Insurance (IDOI) regulates insurance in Indiana. Commercial insurance is vital for the success of a business, as it not only protects the owners and operators of the organization, but it also protects the customers and vendors that a company works with, as well as the employees that they rely on.

Commercial insurance provides coverage for certain risks that businesses face, ensuring that third-parties and employees have access to the funds needed in the event of an accident; it also prevents business owners from having to pay for damages and legal expenses in the event that a catastrophe occurs.

In Indiana, business owners in all industries are required to carry workers' compensation insurance. Depending on the nature of the industry, other forms of coverage may be required. For example, organizations that sell and distribute alcohol must carry liquor liability coverage, and companies that use vehicles in a work-related capacity must invest in commercial auto insurance.

The specific amount of coverage required for these policies depends on several factors, such as the size of the business, how many people it employs, and the specific nature of the operation.

Additional Resources For Miscellaneous & Non-Profit Insurance

Find informative articles on miscellaneous businesses including the types of commercial insurance they need, costs and other considerations.


Miscellaneous Business Insurance

An insurance contract is an agreement where one party obligates itself to make good the financial loss or damage sustained by a second party when a designated event occurs. The event must be fortuitous and happen by accident. The named insured must have insurable interest at the time of loss. One final point is that in order for any contract to be considered insurance, there must be a risk of loss.

Fortuitous Event - An occurrence largely beyond the control of any involved party; happening by chance; accidental; for example: fire, lightning, windstorm, explosion or flood.

Insurable Interest - In order to recover from a loss to property, the holder must have an insurable interest in the property at the time of the event or occurrence. An insurable interest is any right, title or interest in property where the holder of that right, title or interest sustains financial loss if the property is damaged or destroyed. Any lawful and substantial economic interest in the safety or preservation of the property from loss, destruction or damage also constitutes an insurable interest.

An entity does not have to be the property owner to have an insurable interest in it. Examples include, but are not limited to, mortgagees, trustees, vendors, lessees and bailees. Insurable interest for any entity must exist at the time the loss occurs.

Risk Of Loss - If property could never be destroyed, there is no risk of loss. If property must necessarily disintegrate or be destroyed, there is no risk of loss. Between these two extremes is the exposure of risk that can be insured.


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Also learn about Indiana small business insurance requirements for general liability, business property, commercial auto & workers compensation including IN business insurance costs. Call us (317) 559-0759.

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