Business Insurance Types |
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General Liability (GL)
General Liability Insurance covers claims of injury, bodily or physical, and property damage. Often, it is offered in a package with Property Insurance. This insurance is meant to protect your business against accidents that occur on your property and at any other covered locations. Commercial General Liability makes it so your business carries on while it faces claims, such as negligence.
All businesses should have this basic protection. Coverage includes:
What is General Liability Insurance?
It is one of the most common types of small businesses insurance. Hiscox general liability insurance, also called commercial general liability insurance, which protects your business in a number of ways.
For example, let's say you are visiting a client’s office. And while you're there, your client trips over your briefcase and gets injured – your business may be liable.
This is how our small business general liability insurance coverage will protect you. Your fault or not, we’ll cover your defense costs, which can be damaging to the finances of your small business if you don't have insurance. And if you are found liable, we’ll pay the damage and related medical expenses, up to your policy limit. In today’s environment, every business should consider general liability insurance.
Who needs General Liability Insurance?
You may be wondering if your business, since it’s small, really needs this coverage. You should consider a small business general liability insurance policy if you or your employees:
All businesses should have this basic protection. Coverage includes:
- Injury to a third-party (not resulting from your services) and related medical bills
- Legal defense costs even if the lawsuit is groundless
- Liability resulting from damage to someone else's property
- Liability for loss of a client's electronic data for certain professions (as a result of damage to equipment)
- Actions of temporary staff covered as standard
What is General Liability Insurance?
It is one of the most common types of small businesses insurance. Hiscox general liability insurance, also called commercial general liability insurance, which protects your business in a number of ways.
For example, let's say you are visiting a client’s office. And while you're there, your client trips over your briefcase and gets injured – your business may be liable.
This is how our small business general liability insurance coverage will protect you. Your fault or not, we’ll cover your defense costs, which can be damaging to the finances of your small business if you don't have insurance. And if you are found liable, we’ll pay the damage and related medical expenses, up to your policy limit. In today’s environment, every business should consider general liability insurance.
Who needs General Liability Insurance?
You may be wondering if your business, since it’s small, really needs this coverage. You should consider a small business general liability insurance policy if you or your employees:
- Visit a client's place of work, or if the client visits yours. Any accident resulting in bodily injury could lead to a claim against you.
- Have access to a client's equipment. For example, let's say you're an IT/technology consultant, and you accidentally damage a client's server - you could be liable.
- Write or speak about a client's business. A simple mistake could leave you open to a libel or slander claim.
- Use and run the risk of damaging third-party locations related to business activities, e.g., rented offices, training space, conference/event locations, etc.
- Are required to have general liability insurance before entering into a contract. Many clients will demand to see proof that you have at least $1 million in coverage.
Errors & Ommissions (E&O) / Professional Liability
This insurance provides a business with protection should a mistake have been made while delivering professional services. Your General Liability policy will not provide you with this level of protection, so if your company gives advice or provides contracting services you may need this insurance.
This insurance is great for businesses who offer advice to their clients. Professional Liability Insurance specifically covers a business from being liable should an error or omission occur, that leads to a financial loss for the customer.
What is Professional Liability Insurance?
Professional liability insurance, also called errors and omissions insurance (E & O insurance), protects your business if you are sued for negligence, even if you haven't made a mistake.
Defending your business can be financially crippling. However, you can feel secure with this policy. If a covered claim is brought against you, we'll immediately defend you and appoint an attorney if necessary. If damages are awarded, we'll pay them up to your covered limit.
Who needs Professional Liability Insurance?
You may feel confident in the quality of your work, but any business can be sued for negligence when its work doesn't meet a client's expectations. If you’re a consultant or a small professional business, buying liability insurance is the right thing to do.
You should seriously consider professional liability insurance if your business:
This insurance is great for businesses who offer advice to their clients. Professional Liability Insurance specifically covers a business from being liable should an error or omission occur, that leads to a financial loss for the customer.
What is Professional Liability Insurance?
Professional liability insurance, also called errors and omissions insurance (E & O insurance), protects your business if you are sued for negligence, even if you haven't made a mistake.
Defending your business can be financially crippling. However, you can feel secure with this policy. If a covered claim is brought against you, we'll immediately defend you and appoint an attorney if necessary. If damages are awarded, we'll pay them up to your covered limit.
Who needs Professional Liability Insurance?
You may feel confident in the quality of your work, but any business can be sued for negligence when its work doesn't meet a client's expectations. If you’re a consultant or a small professional business, buying liability insurance is the right thing to do.
You should seriously consider professional liability insurance if your business:
- Provides a professional service.
- Regularly gives advice to clients.
- Is requested by a client to have professional liability insurance to complete a contract.
Workers Compensation
If a worker gets injured on the job and requires medical treatment, you’ll be happy to have a Workers’ Compensation Insurance plan. This plan will also cover lost wages and services that help an employee recover and get back to work.
Business Owners Policy (BOP)
An insurance plan good for small to medium-sized businesses, BOP packages together elements of General Liability and Commercial Property. Depending on the carrier, a Business Owners’ Policy plan may include elements of Crime Insurance and EPLI.
What is Business Owners Insurance?
Also known as a business owners policy or BOP insurance, a business owners insurance policy combines general liability coverage and protection for your business equipment, such as computers, printers, copiers and office furniture.
Most BOP insurance policies only offer a one-size-fits-all package. We believe in customizing your small business owners insurance coverage to suit your specific business needs. We also offer a range of coverage upgrades including office insurance, hired or non-owned vehicle insurance, a commercial crime insurance package and an electronic data loss package.
Who needs Business Owners Insurance?
If you want to combine general liability insurance with coverage for your business equipment and other risks, this is for you. Consider a business owners policy if you:
What is Business Owners Insurance?
Also known as a business owners policy or BOP insurance, a business owners insurance policy combines general liability coverage and protection for your business equipment, such as computers, printers, copiers and office furniture.
Most BOP insurance policies only offer a one-size-fits-all package. We believe in customizing your small business owners insurance coverage to suit your specific business needs. We also offer a range of coverage upgrades including office insurance, hired or non-owned vehicle insurance, a commercial crime insurance package and an electronic data loss package.
Who needs Business Owners Insurance?
If you want to combine general liability insurance with coverage for your business equipment and other risks, this is for you. Consider a business owners policy if you:
- Need general liability insurance coverage.
- Have business equipment such as computers, printers, furniture.
- Own the building from which you work and need to insure the property.
- Own and work with large amounts of data on a regular basis.
- Have employees that could act dishonestly or steal client’s property.
Commercial Auto
Just like your personal auto policy, Commercial Auto Insurance, covers liability, collision, and medical payments should an accident occur with your commercial vehicle. Your personal auto policy will not cover damages while the vehicle is being used for business purposes.
Commercial Property
This type of insurance protects your business’s physical assets, such as workspace and computers. It doesn’t matter if you work from home or lease your work space. Commercial Building and/or Property Insurance works for every business. The plans vary but are usually categorized by the kind of event that led to the loss. Fires and natural disasters are great examples of this. Plans can be customized based on location and business-type, so if you live in a flood zone, you can get additional coverage to protect your business, or if you run a business that has many physical records, it’s possible to get insurance coverage for that, too.
Umbrella Insurance
Umbrella Liability can be a great solution for a business that needs more liability coverage than what is offered in their General Liability, Employer’s Liability or Auto Liability Plan. Umbrella coverage can be purchased as a standalone policy or can be bundled with a General Liability policy.
Garage Liability
Small businesses in the auto trade industry need Business Garage Insurance to protect them from a variety of risks, including injuries, mistakes or property damage.
Special Events
This insurance will provide you with coverage if you are throwing a special event. Special Events Insurance will cover claims of bodily injury, property damage and provides coverage for any contractors you hire.
Product Liability
This insurance covers a business should they need to recall one of their products. Product Recall Insurance will cover the cost of getting a defective product back under the control of the manufacturer or merchandiser that would be held responsible for bodily injury or property damage due to the existence of the product.
Employment Practices Liability Insurance (EPLI)
EPLI is a liability insurance that covers wrongful acts, such as wrongful termination, discrimination, sexual harassment and retaliation. This insurance may also protect your business from other employee-related claims, such as deprivation of a career opportunity, defamation, invasion of privacy, failure to promote, and negligent evaluation.
And More...
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Schedule an Appointment if your business needs require the following protection:
Business Interruption Commercial Package Crime Cyber Liability Directors & Officers (D&O) Disability Insurance Employee Benefits Liability Equipment Breakdown Fidelity Bond Fiduciary Bond Fiduciary Liability Health Insurance Hired & Non-Owned Auto Inland Marine Liquor Liability Management Liability Medical Malpractice Ocean Marine Pollution Liability Surety Bond |
