Small Business Liability Insurance Articles (Find The Best Policies)
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Frequently Asked Questions About Small Business 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.
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Small Business Liability Insurance Articles. Commercial liability insurance protects your business against property damage, advertising injury claims, personal injury claims, and bodily injury claims. Such claims could jeopardize the success and reputation of your business.
As a small business owner you require a form of general liability protection, to shield you from such unexpected situations. A single accident might lead into a lawsuit that is beyond your financial abilities. When that happens, you will be staring at losing your source of livelihood. That's where liability insurance comes in.
Informative small business liability insurance articles explain how policies protect your business from expensive lawsuits should you be sued for bodily injury, property damage and more.
Small Business Liability Insurance Articles
- CGL Policy Coverage - Learn what commercial general liability insurance covers in detail.
- Commercial General Liability Insurance - All about commercial general liability insurance.
- Commercial Insurance Premium Financing - Learn about business insurance premium financing.
- Do I Need Insurance As A Subcontractor? - Find out the answer to this often asked question about where the liability lies.
- Does My Business Need Commercial Flood Insurance? - Find out the answer to this often asked question about business flood insurance.
- Fire Legal Liability Insurance - What is fire legal liability insurance?
- General Liability Class Codes For Commercial Insurance - Learn about the GL class codes and how they are used to rate a policy..
- General Liability Insurance Coverage - Learn about what general liability covers - and what it doesn't.
- General Liability Insurance FAQ - Frequently asked questions about general liability insurance.
- How Does General Liability Insurance Work? - Discover how general liability insurance protects your business.
- How Much Does General Liability Insurance Cost? - Learn how much general liability insurance costs and how the premiums are calculated.
- How Much Is Insurance For Contractors? - Learn how much commercial insurance costs for contractors.
- How To Comapre Small Business Insurance Policies - Learn how to compare the differences in commercial policies.
- How Will Artificial Intelligence Change Commercial Insurance? - Learn how AI will impact business insurance over the coming years.
- Liability Insurance - The history of liability insurance and legal obligations of insurers.
- Non-Owned Hired Auto Liability - What you should know about HNOA insurance
- Premises Liability Insurance - Learn about premises liaiblity insurance.
- Public Liability - What you need to know about public liability insurance.
- Understanding Primary And Non-Contributory Liability Insurance - Learn about these often used endorsements on liability insurance policies.
- What Is An Additional Insured Endorsement? - In general, a typical Additional Insured Endorsement includes/adds your name as a party insured under the liability policy of the contractor.
- What Is A Waiver Of Subrogation? - A lot of business insurance contracts today include a waiver of subrogation. What is does a waiver of subrogation mean?
- What Is Business Interruption Insurance? - Learn about business income insurance and how it can help business owners stay afloat after a disaster.
- What Is Excess And Surplus Lines Insurance? - Learn about E&S insurance and how it insures unique, complex or difficult risks.
- What Is General Liability Insurance? - A concise introduction to general liability insurance.
What Does Small Business Liability Insurance Cover?
Small businesses are inherently risky. The good news is that some of the risks can be protected against. Business liability insurance helps to safeguard your business against various known and unknown risks. Some of the areas in your business that are covered by small business liability insurance include:
- Property damage and bodily injury: The property damage and bodily injury helps to protect your business against various business claims as well as claims alleging financial loss as a result of bodily injury or property damage, occurring out of your products or business operations. Slip an fall is covered here.
- Advertising errors: This protects your small business from certain claims where others claim that your business has infringed on certain copyrights when advertising your goods, services or products.
- Reputational harm: The reputational harm protects your business against claims of malicious prosecution, false arrest, slander, libel, wrongful eviction and violation of privacy rights, just to name a few.
- Damage to rented premises: This helps to protect your company from certain claims that might occur during your business operations. This may be occasioned by lightning, fire or explosion.
- Medical payments: Small business liability insurance will protect your business against medical claims brought forward, when someone gets injured in your business premises and requires medical treatment.
- Some clients might also need you to agree to a certain level of general liability before you can provide goods or services to them. With small commercial liability insurance, such issues are adequately handled.
Small Business Liability Insurance Cost
The cost of your small business liability insurance coverage is determined by various factors. They include the business type, location of your business, the total number of employees in your business, as well as the risk level your business is exposed to. For example a roofer working on a roof faces much higher risks than an accountant sitting in an office behind a desk.
In our litigious society, more and more businesses are being sued due to issues like libel, slander, property damage, and bodily injury, just to name a few. Apart from that, businesses can be sued even when they have not done anything wrong. That is why your business requires liability insurance protection.
Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, Markel, Nationwide, Penn America, Philadelphia, Progressive, Scottsdale, The Hartford, Travelers, USLI, Western World, Zurich & others.