Massachusetts Process Server Insurance Policy Information
Massachusetts Process Server Insurance. In today's business and social climate, it's imperative that process servers have all the facts, but getting them is not always easy particularly in the face of legislation that has grown out of greater public focus on the issues of privacy, profiling and civil liberties. Conducting skip-traces and attorney services can be like walking a tightrope. One slip can have serious and lasting repercussions.
For such instances, having proper Massachusetts process server insurance coverage specifically designed for process serving companies, or individuals, is critical. This not only protects your business, but also provides indemnity from, the acts of employees, independent contractors and others.
Massachusetts process server insurance protects your business from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
What Is The Role Of Process Servers?
Process servers are required for various tasks such as filing court papers and document retrieval. However, their principal task is delivering or "serving" legal documents to defendants or persons involved in the court case. Once they serve the legal documents, they have to deliver evidence that the documents were served.
Types Of Process Server Insurance
But before purchasing Massachusetts process server insurance, it's important to speak with a qualified insurance agent. Making a mistake in your selection of coverage could prove extremely costly. Provided here is a quick guide to insurance coverages available for process servers:
Professional Liability: Even though no state requires that process servers carry professional liability (errors and omissions) insurance, that doesn't mean they shouldn't carry it. In fact it's something that many have in order to run a process service business. The liability of not having Massachusetts process server insurance far outweighs the cost of having the policy.
Professional liability (E&O) protects your financial assets in case of alleged financial harm to a third party, resulting from an error or omission by the process server. Most commonly, this would occur from alleged negligence, wrongful service, missed filing deadlines, blown statute of limitations, etc.
For instance, the court documents you're to file with the Court has a mandated deadline of 4:30 pm. You arrive late at 4:35 pm due to a traffic problem. The client you are working for must now prepare documents to present to the court as well as appear in person before the court. Who pays the attorney's bill at $350.00 per hour? Your Massachusetts process server insurance covers the bill.
Professional liability insurance also provides the extra reassurance that the process server is legitimate. Having insurance coverage demonstrates that the individual is organized, responsible and able to rectify an unfortunate incident.
General Liability: You need general liability insurance to provide coverage for legal hassles resulting from injuries and accidents. This Massachusetts process server insurance policy protects against payments resulting from property damage, bodily injury, medical expenses, slander, libel, the cost of defending lawsuits, and settlement bonds or judgments required during an appeal procedure.
Commercial Property: Business property insurance provides coverage for the loss or damage of your company's property if caused by events like wind, fire, hail storms and vandalism. The definition of "property" is broad, and includes, buildings, computers and company papers.
Business Owner's Policy (BOP): A business owner policy packages all required coverage you would need for your company. Often, BOP's will include business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance . Typically, you will save money by choosing a BOP because the bundle of Massachusetts process server insurance often costs less than the total cost of all the individual coverage's.
Property insurance also provides operating funds when you're trying to get your business on track following a catastrophic loss. Some policies include coverage for your equipment if they break down, water damage, debris removal after fires and other destructive events, among other losses.
Workers Compensation: This Massachusetts process server insurance protects your company against injury and illness claims by employees. If you are a sole owner and employee, with no other staff, you don't need workers comp in most states. As soon as you employ one person, even if they are working for you on a voluntary basis, the law requires you to have MA workers comp in place. This will cover medical treatment, disability and death benefits in the event an employee is injured or dies when working for you.
Cyber Liability: If you store sensitive or non-public information about employees or clients on your computers, servers or in paper files you are responsible for protecting that information. If a breach occurs either electronically or from a paper file this Massachusetts process server insurance policy will provide protection against the loss.
MA Process Server Insurance
While commercial insurance is not all inclusive, MA process server insurance plans will cover most of your businesses risks.
Massachusetts Economic Data, Regulations And Limits On Commercial Insurance
If you are thinking about starting a business in the Massachusetts, it's important that you have an understanding of the economic trends and commercial insurance requirements in the state before you set up shop.
Economic trends are important, as they indicate whether or not the area offers a strong economy that will be able to support your business. You also need to know what type of commercial insurance you'll need to carry so that you can plan accordingly and ensure that you are complaint with the law.
To help you determine if the Bay State is the right location for the business you are thinking about opening, below, you'll find an overview of MA's current economic trends, as well as the types of insurance policies you'll need to carry.
Economic Trends For Business Owners In Massachusetts
Unemployment rate is a good indicator of a state's economy. The lower the rate, the more job opportunities there are, which is direct reflection of the health of businesses.
As per the Bureau of Labor Statistics, the unemployment rate in Massachusetts was 2.8% in December, 2019. That's 0.7% lower than the national average, which was 3.5% in December, 2019. This indicates that the state offers a strong workforce and that there are enough jobs to support the residents of the state.
While regions throughout the area are seeing business growth, there are certain areas in particular that are seeing more growth than others. This includes large metropolitan areas and the regions that surround them, including:
- New Bedford
Several industries are doing very well in the state of Massachusetts; however, there are particular sectors that are seeing more growth than others and are truly thriving in this part of the country. These industries include:
- Advanced manufacturing
- Commercial fishing
- Financial services
- Hospitality tourism
- Information technology
- Medicine and life sciences
If you are thinking about starting a business in any of these industries, chances are good that you will find the success you are looking for in the state of Massachusetts.
Commercial Insurance Requirements In Massachusetts
The Massachusetts Division of Insurance regulates insurance in MA. Massachusetts mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Massachusetts requires you to have worker's compensation insurance if you hire even one employee on a regular basis. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors, but employees in domestic service must be covered if they work at least 16 hours a week.
Massachusetts also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
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.
- Adult Daycare Insurance
- Agriculture, Forestry, Fishing & Hunting
- Bail Agent
- Check Cashing
- Control of Well
- Electric Utilities
- Employment / Staffing Agency
- Engraving Business
- Facility Support Services
- Mail Order
- Oil And Gas Lease
- Personal Concierge
- Photofinishing Lab
- Portable Sanitation
- Printers & Publishers
- Private Water Districts
- Process Server
- RV Parks & Campgrounds
- Security Guard
- Surety Bonds
- Unmanned Aerial Vehicles (UAV) Drone
- Waste Disposal Landfill
- Wedding Planner
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 find Massachusetts insurance agents & brokers and learn about Massachusetts small business insurance requirements for general liability, business property, commercial auto & workers compensation including MA business insurance costs. Call us (617) 902-0099.