All businesses, large and small, require commercial general liability insurance. There are many things that can put your finances at risk, and without adequate coverage, your entire business could be affected. Look online to learn the laws in your state and local jurisdiction to find the minimum amount of insurance you need, then do a search for a small business liability insurance quote. You can get multiple quotes at once and compare them to see which one offers the right coverage for your business needs.
If you have employees, the federal requirement requires you to have workers’ compensation, disability insurance, and unemployment. Keep this in mind when researching policies and comparing quotes.
The best commercial insurers have custom policies tailored to each type of business and industry. For those involved in the real estate industry, there are special “real estate” business insurance policies that cover everything a real estate agent needs. Certain industries will, of course, need more protection than others, namely construction companies dealing with machinery.
Small Business Liability Insurance for Professional Indemnity
There is also a “professional indemnity insurance” designed for small businesses that provide some sort of service to clients. It protects against financial losses due to mistakes, negligence, malpractice, etc. Even if you only provide services from your home, you should still look into getting small business liability insurance for “home business”. One option is to add coverage to your existing homeowner’s insurance policy to protect your equipment and any liability coverage for third-party injuries.
You should always assess your risks. Think carefully about everything that could go wrong with your business and cost you money. Look for a quote with coverage that protects you from all of these things.
Your choice of insurer is just as important as the policy itself. Check a company’s financial history and current financial situation. A company that has been around for a long time and is currently financially strong is ideal. Also, the customer support needs to be very reliable, especially if you’re new to business insurance and don’t know exactly what you’re getting into.
Where is a good place to start looking for a small business liability insurance quote? One company that offers great custom policies and affordable rates is Hiscox Insurance Company. Whatever type of liability insurance you are looking for, this company offers really good solutions.