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.
Publishers Insurance. A publishing business might seem like a business without many risks, but many things can happen daily to destroy your business. As the owner of a publishing company, you should always ensure you have the proper protection for your business. There are several different publishing house insurance polices and we'll take a look at how you can get the right one for your business. Getting the right publishers insurance is a matter of knowing the risks you face and what you need to protect.
Publishers insurance protects your shop from lawsuits with rates as low as $47/mo. Get a fast quote and your certificate of insurance now.
What Are The Risks Involved In The Publishing Business?
There are many dangerous equipment and chemicals used in the publishing business which you need to protect your business for. Equipment such as forklifts, printing presses, and packaging equipment can prove hazardous. The employees of a publishing business are always at risk. Not only are the employees affected but also the buildings you use for your publishing business. Unpredictable events could damage the buildings you use for operation outside of your control. If a storm destroys one of your buildings, then this could delay production in your business.
In addition to employees getting injured and the buildings, you use for your business being damaged there is also the risk of your business being sued for negligence. To fully protect we'll take a look at the different types of publishers insurance.
Major Types Of Protection For Your Publishing House
Business Property Insurance - This insurance protects the buildings and their contents from damage. As a publishing business, this is critical to the success of your business. Having this insurance protects your computers, office equipment, furniture, supplies and other inventory if they get damaged. Business Interruption Coverage is also a part of this coverage. If you have to relocate your business or fire destroys your business, then compensation is provided with this coverage.
Commercial General Liability Insurance - Anytime bodily harm or damage to property happens as a result of your negligence you'll be protected with this type of publishers insurance.
Equipment Breakdown Insurance - Any time equipment breaks down in your business you will be protected if you have this insurance. If a printing press or binding machine develops a problem this insurance will handle the costs associated with it.
Commercial Auto Insurance - Covers the vehicles you use for your business. What this insurance does is that it provides you with protection if a claim is made against your business for property damage or bodily harm cause by a vehicle owned by your business. Having this insurance gives you the protection you need for your publishing business vehicles.
Umbrella Insurance - The limit of your underlying liability insurance may be too low. If this is the case, you can always purchase excess liability coverage with umbrella insurance. When the limits of your other policies are exhausted, then this insurance provides the extra protection you need.
Publisher Liability Insurance - This publishers insurance protects you from lawsuits made against your publishing company for the content you publish. As a publishing business, the content you produce on a mass scale can put you at risks for liability lawsuits.
Workers Compensation - While on the job there many times your employees could be injured. For this reason, you must ensure that you do everything you could to keep them protected while working. Workers' compensation coverage will give you the ability to protect your employees properly. In addition to be being mandated for any non-owner employees, workers comp is the most affordable way for you to protect your employees from work-related injuries. If an employee is injured and needs medical attention, then workers' compensation will help with any medical bills. If an injury on the job results in a fatality, then this insurance pays benefits to the surviving family.
The Bottom Line
Having the right protection for your business is important. To adequately protect your business you must have insurance. Getting the right insurance for your publishing business comes down to knowing your business and what you need to protect it. Speak with an experienced insurance agent about your publishing business and find the protection that is right for you.
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 Manufacturing & Wholesaler Insurance
Read informative articles on small business manufacturing and wholesale insurance. Manufacturing and wholesale companies face many risks due to the nature of their business operations.
For manufacturers and wholesalers, having the proper coverage is very important. You will need Products/Completed Operations Liability Coverage to protect you against injuries or property damage cause my the products you make or sell.
What does the insured does that could result in a covered loss? The insuring agreement only requires that the insured be legally obligated to pay damages for injury to others or damage to their property included within the products-completed operations hazard covered by the insurance.
Because of this, every product manufactured and completed operation exposure for each named insured must be determined, described and evaluated to be certain that each represents acceptable exposures, or are acceptable classes of business to the insurance company providing coverage.
Once the extent of all business activities and operations is determined, the process of identifying hazards begins. The first step in the process is completely listing and describing all current products being manufactured and projects being worked on.
The next step is obtaining the same information for discontinued products and completed projects for the past five to 10 years, depending on the products or projects involved. This should include an explanation of why the products were discontinued. If some completed projects were of a different type than those currently being worked on, an explanation is in order, including whether the insured may resume them in the future.
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.