Frequently Asked Questions About
Commercial General 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.
Court Reporter Insurance
Court Reporter Insurance. Court reporters are important people with a critical role to play in the judicial system. They help create clear transcripts of conversations and speeches not only during judicial trials but also at any occasion where verbal words must be preserved and availed as a written transcript. Due to the magnitude of their work, court reporters are expected to provide accurate transcripts before the court and a complete, correct, and reliable legal record.
You need to be careful every step of the way, backing up and keeping copies of everything, even your audio files, never relying upon any other party for the final proof, and staying on top of your game. Clearly, such high standards make you vulnerable to mistakes that might change the outcome of the trial. If you make a mistake court reporter insurance can help.
Court reporter insurance protects your business from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Types Of Court Reporter Insurance
Here are some of the major types of court reporter insurance available:
Errors and Omissions (E&O): Also known as professional liability, the court reporter insurance errors and omissions policy will cover you when sued over professional errors - real or perceived. As a court reporter, you need to take cover that will shield against all the errors or omissions you make during the course of your duties.
Normally, some errors would affect the result of a trial. This might prompt the aggrieved party filing for damages. These accusations may include claims that your work was inadequate, unprofessional, or incomplete. If you encounter such a case, court reporter insurance, namely the E and O will be of great importance. In short, professional liability can help out when a party in the court proceedings accuses you of errors, omissions, careless conduct, or incomplete work.
General Liability: General liability is essential for a court reporter. Usually, this work involves the use of stenotype machines for documenting, audio tools to record court proceedings, microphones amongst others. General liability coverage would help you in the case of lawsuits against you resulting from slip-and-fall accidents, property damage, or reputational injuries.
Cyber Liability and Computer Technology Coverage: For reporters who use electronic devices and computers to prepare their presentation before a court, you face the risk of cyber attack. When an unauthorized person gains access to the documents, he might destroy them, delete them or even alter the content.
The current statistics and reported cases of cyber attacks have been on the increase, so any person using digital devices is vulnerable to this risk. If your devices are hacked and confidential documents accessed, you need help from an insurer to avoid any financial or career loss. In such a case, you will be liable to a mistake that you did not commit. A court reporter insurance data breach policy will provide you with a cover against malicious hackers, or the legal costs from the aggrieved parties who shoulder the effect of the cyber crime.
Comprehensive Insurance Coverage: As a court reporter, you are exposed to too many perils in your line of duty. If the number of potential hazards is too large to be covered under a particular class, it would be wise to seek a firm offering comprehensive insurance plan. Though a bit costly as compared to the rest, this cover is very important for a highly risky work environment. A comprehensive court reporter insurance would help in different situations. Basically, the policy covers all the risks you might encounter during work.
NCRA Insurance Programs: The National Court Reporters Association has developed an insurance coverage plan that will address the issues of reporters across the nation. Their members benefit from court reporter insurance programs such as Medicare Supplement Insurance, Major Medical Insurance, Disability Income Plan, Accidental Death & Dismemberment, professional liability insurance, just to name a few. Unfortunately, if you are working independently, you're responsible for finding and purchasing good insurance policies that cover your personal and professional needs. Currently, most of the deposition reporters pay for their own health insurance and don't receive any benefits.
Court Reporter Insurance
As a court reporter, the accuracy expected of your work exposes you to many risks. Don't put your professional reputation as well as finances at risk by lacking an insurance coverage for your work. Seek professional guidance especially from a reliable agent to make an informed decision on the right insurance coverage that will adequately shield you from unfavorable events during your work.
Small Business Economic Data & Insurance Regulations
Perhaps you have the next great idea for a product or service that you know will appeal to your local area. Maybe you want to contribute to the economic growth of your community. Whatever the reason is, if you're thinking about starting a small business, it's important to understand pertinent information relating to small businesses in the United States; namely economic information and insurance regulations. After all, if you want your small business to succeed, you have to understand the economic trends organizations of a similar size in your area.
Likewise, you want to ensure that your small business is well protected with the right business insurance and that you are in compliance with the rules and regulations that pertain to commercial insurance in your region.
Read up on economic statistics and insurance information that relates to small business owners in the United States.
Small Business Economic Data In The United States
Here's a look at some information that was compiled by the Small Business Association (SBA) regarding the economic data that pertains to small businesses in the United States:
- In 2015, small businesses in the United States employed an estimated 58.9 million American workers, or 47.5 percent of the nation's private workforce.
- Largest shares = fewer than 100 employees. The small businesses that employed 100 people or less had the largest share of employment amount small businesses.
- Employment increased by nearly 2 percent. In 2018, employment amongst small businesses increased by 1.8 percent, which is an increase of 1 percent from the prior year.
- Increase in proprietors. In 2016, the number of small business proprietors increased by 2.3 percent.
- In 2015, small businesses were responsible for creating 1.9 million net jobs. Organizations that employed 20 people or less had the largest gains, as they added an estimated 1.1 million net jobs.
- There were 5.7 million loans that were value less than $100,000 issued by lenders in the United States in 2016. These loans were issued under the Community Reinvestment Act.
- Small business owners that were self-employed at the incorporated businesses that they owned reported a median income of $50,347 in 2016.
- Small business owners that were self-employed at the unincorporated businesses that they owned reported a median income of $23,060 in 2016.
Small Business Insurance Information
In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.
The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.
Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.
According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage. The SBA recommends the following insurance plans for small business owners:
- Commercial Property Insurance: In the case of an unplanned disaster - fire, flood, vandalism, theft, etc. - this type of coverage will help you avoid paying for the damage out of your own pocket. Even if you rent the property, you should still carry commercial property insurance.
- Commercial Liability Insurance: In the event that a legal situation arises - a negligence lawsuit, for example - commercial liability coverage will provide financial protection. It will cover the cost of legal defense fees, court fees, and even moneys that may be awarded.
- Commercial Auto Insurance: If you operate a vehicle for any activities that are related to your business - transporting and/or delivering goods, or meeting with clients - commercial auto insurance is legally required for businesses of all sizes, including small businesses.
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
- Electrical Engineering
- Executive, Career & Life Coaching
- Executive Search Firm
- Expert Witness
- Financial Services
- 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.
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.