Frequently Asked Questions About
Commercial General Liability Insurance
How much does small business 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. (read more)
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. (read more)
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.
Washington HR Consultant Insurance
Washington HR Consultant Insurance. As an HR consultant you are going to work with people of various backgrounds and in different fields of employment. Working as an independent HR consultant comes with many risks, and for this reason requires you invest in an Washington HR consultant insurance policy.
Of course you will want a professional liability policy to protect you from negligence claims from your advice. Further, having general liability will cover for slip and fall accidents, or other incidents which occur in your office. These policies will pay medical bills and other losses including legal fees, in the event a client or visitor sues you.
Washington HR consultant insurance protects your firm from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Types Of HR Consultant Insurance
In addition to a general liability policy, it is important to consider the additional Washington HR consultant insurance coverages. Some of the important ones are:
Errors and Omissions - Also know as professional liability, this protection will shield you from liability in the event a client sues you for negligence, breach of contract or providing information which may result in financial loss. In some instances, advice you offer doesn't always equate to financial gains for a client. This form of coverage will protect you from these lawsuits, and others which might stem in a similar fashion, and are common for WA human resources consultants.
Employment practice liability - Another optional form of coverage you might want to invest in when choosing your Washington HR consultant insurance policy is employment practice liability coverage (EPL or EPLI). With this form of coverage, you are protected from employment based complaints.
In the event you have several employees working on staff, different issues may arise, including an employee suing for wrongful termination, sexual harassment or other workplace related incidents. Illegal discrimination, wrongful termination, and other employee related lawsuits are covered under EPLI.
Workers Compensation - This will cover your business should any of your employees get injured while working on the job. WA workers comp is required for any non-owner or partner employees.
Cyber Liability - In the event you offer online services or have a website where clients information is stored in a portal, you want to protect fit rom cyber threats and hacking. Additionally, if clients pay via credit card, or online check, the possibility of a hack, or client's information being stolen, is something you have to consider.
When choosing an insurer for your Washington HR consultant insurance policy, discuss this form of protection if you deal with clients online, or use online resources in any fashion when providing HR related services to your client base.
Business Property - If your office is vandalized, if materials are stolen, or if a major storm causes damage to your office, you need insurance in order to cover these losses, and replace damaged equipment or office furniture. If you do not have the right Washington HR consultant insurance policy in place, this can end up costing you much more out of pocket than you bargained for as an WA human resources professional.
With the right coverage in place, you not only have protection from such damage and loss, but also from vandalism, theft, and other targeted attacks to your business.
Commercial Umbrella - If your policy limits aren't high enough, or if you simply want to play it safe, umbrella coverage is an option to consider. It is going to cover excess liability, or claims that go over the underlying general and some other liability limits.
Umbrella coverage is a great way to have higher limits in place, and to ensure you are protected from any and all potential threats which are lingering around your practice, as an human resources consultant working with big or small clients and businesses on a daily basis.
Why Buy HR Consultant Insurance?
There are many threats to your business, your licenses, and your livelihood when working with clients from different backgrounds and industries. As an human resources consultant, insurance is one way to shield yourself from those threats, and avoid the financial loss which might come from a single lawsuit which is filed against you.
In addition to this, there are certain clients who will require you to purchase Washington HR consultant insurance, so it is something you will have to look into regardless of whether or not you want to spend the money.
WA HR Consultant Insurance
When choosing an insurer and level of coverage to purchase, these are a few optional coverage protections to consider investing in, when you are getting quotes for your Washington HR consultant insurance policy.
Washington State Economic Outlook & Business Insurance Requirements
For anyone who is thinking about starting up a business, it is important that they choose a location that suites the industry that they wish to work in. With that said, in order to determine whether or not a location is the right choice for your business, you should have an idea about the state's economic status. You should also have an understanding of the WA state regulations related to the types of commercial insurance that you are required to carry.
If you are thinking about starting up a business in the State of Washington, below, we offer some insight into the state's economic status. We also offer a glimpse at the WA insurance requirements that business owners must abide by.
State Of The Economy In Washington
Washington state may be famous for its gloomy weather, but when it comes to the economy, things here look bright. The economic outlook for Washington is healthy. It is expected that there will be more jobs added in the 2019 calendar year. There will be an increase in the productivity of labor. There will also be an increase in the state's unemployment rate during the year 2019, with a forecasted rate of 4.7 percent.
Washington is regarded as one of the top for businesses in the nation. In fact, it is listed at the 11th best state for business by Forbes. The industry that is expected to see the most growth are related to STEM (science, technology, engineering, and math). Among the top industries in this state include information technology. Education, healthcare, finance, and travel and tourism also contribute largely to the awesome economy of this state.
Commercial Insurance Requirements In WA
The Washington State Office of the Insurance Commissioner regulates the insurance industry in WA. Businesses are legally required to carry workers' compensation insurance. This type of coverage is required for any business that employs either hourly or salaried employees, and either part-time or full-time employees. You are also required to carry commercial auto insurance if you use a vehicle to conduct any type of business in this state. That means that if you are using a car to transport goods, make deliveries, or meet with clients, you must carry business auto insurance.
While commercial general liability insurance is not required in Washington, it is highly recommended. This type of insurance offers protection from lawsuits and other legal fees that may arise.
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
- Debt Collection Agency
- Detective Agency
- Electrical Engineering
- Environmental Consultant
- Executive, Career & Life Coaching
- Executive Search Firm
- Expert Witness
- Financial Services
- Financial Planner
- 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.
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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.