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At SmallBusinessLiability.com, one of the Internet’s leading providers of Low Cost Small business Insurance, we love when our customers ask us questions. We know an informed and knowledgeable customer is the best customer. From our years of experience here are five commonly asked questions.

Do I need insurance for my Small Business? 

The answer to that is yes. While starting any business venture is a risk, going without insurance is not recommended. At a bare minimum you should have at least an Affordable General Liability Insurance Policy. This will provide coverage if any third parties or their property are injured as a result of your business activities. It is also important to remember that this will also include your legal defense in the event a claim is made. A cheap General Liability Insurance policy can usually be purchased for around $50 per month. You know how much lawyers charge. Can you afford to pay their fees if you are sued? You have enough to worry about in operating your business, give yourself the peace off mind that comes with knowing you are covered should an unforeseen situation arise. 

What is Small Business General Liability Insurance?

This type of coverage protects you from  financial costs if your business is responsible for covered negligent acts such as property damage, bodily injuries or advertising harm caused by your business to third parties. It will pay legal fees and damages if you are found liable for a covered claim. It is important to note that this does not cover you or your employees if they are hurt. To have coverage for employee injuries you need to have workers compensation insurance.

What is Small Business General Liability Insurance?

This type of coverage protects you from  financial costs if your business is responsible for covered negligent acts such as property damage, bodily injuries or advertising harm caused by your business to third parties. It will pay legal fees and damages if you are found liable for a covered claim. It is important to note that this does not cover you or your employees if they are hurt. To have coverage for employee injuries you need to have workers compensation insurance.

 

What is a Business Owners Policy (BOP)? 

It is a policy designed especially for small businesses. It bundles together a number of coverages. The benefit of this is that it is cheaper than getting the same coverage separately and all your coverage is with one company. A BOP usually covers the following :

It provides coverage for damage to your building (owned or leased), equipment, furnishings, fixtures, displays and inventory.

Liability insurance for your business. This will cover damages paid in judgments or settlements. It will also pay legal defense costs, if you are sued or held liable for accidental bodily injury or property damage arising from a covered cause of loss.  

 

Business Interruption Insurance protects against monetary losses due to periods of  business closure when a covered event, such as a fire, occurs and causes physical property damage.

 

You can also add additional coverages such as hired and non-owned auto, crime and fidelity coverage as well. 

 

What is hired and non-owned auto liability insurance?

This type of insurance covers your business for liability expenses for accidents involving vehicles that your business uses for work related purposes but does not own. It covers vehicles that your business rents. It also covers your employees’ personal vehicles that are used for work related activities. It can be easily added to your General Liability Insurance or your BOP. It is however important to note that this type of coverage will not pay for vehicle repairs. It just typically covers liability claims and defense costs. It will cover attorney fees, settlements or judgments, and other court costs if the business is sued as a result of the accident.   Example: You send an employee to the post office to pick up some stamps. They use their own car for this task and are involved in an accident. Your business will be protected if you have Affordable Hired and Non-Owned Auto Liability Insurance.

 

What is Employment Practices Liability Insurance (EPLI)? 

EPLI will protect your business against lawsuits arising from accusations of sexual harassment, discrimination and wrongful termination. It is important to note that even if these claims are unfounded you will have to spend a fortune in attorney fees to defend yourself if you do not have coverage. This type of claim has been increasing in the last few years so you need to have this coverage to protect your business.

Get Your Free Affordable Small Business Insurance Quote

When it comes to getting a fast and free quote for affordable Small Business  Insurance SmallBusinessLiability.Com is the best choice on the internet. We can offer policies in every State. Our knowledgeable agents will be able to assist you to get the coverage you need. We can normally have you covered in under an hour. You can either fill out the online quote application by clicking here or call  (877) 207-6255 and speak to a live person. You can have confidence that you are getting quality coverage at an affordable price when you use SmallBusinessLiability.Com for your small business insurance needs. See our Five Star Reviews on Google and Trust Pilot!!!  We are also an Accredited Business with the Better Business Bureau with an A+ rating !!!