Business Insurance
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What is General Liability Insurance?
Liability insurance is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims. It protects the insured in the event he or she is sued for claims that come within the coverage of the insurance policy.
How Does General Liability Insurance Help Small Businesses?
General Liability Insurance can help small businesses…
But more than that, General Liability Insurance is also important simply because clients, local governments, and landlords might require you to have it. For instance, in order to get an electrician's license, a contractor might have to meet state requirements for Commercial General Liability Insurance.
- Sign contracts with new clients.
- Afford the cost of a lawsuit.
- Avoid bankruptcy.
- Acquire professional licenses.
- Rent a professional office space.
But more than that, General Liability Insurance is also important simply because clients, local governments, and landlords might require you to have it. For instance, in order to get an electrician's license, a contractor might have to meet state requirements for Commercial General Liability Insurance.
What is Commercial Auto Insurance?
Figuring out what kind of auto insurance and limits you need can be confusing. Whether you are a small business with one or two vehicles and as many potential drivers, or a large company with a fleet of vehicles and a sizable number of drivers, you need commercial auto insurance, not personal insurance.
Employees who drive your commercial vehicles must be named in your commercial auto policy. Failure to do so will cause any claims to be possible denied by the carrier. And if you have independent contractors using your vehicles, you may be violating their 1099 status which can result in Department of Labor and IRS issues. Contact us for a free policy review today!
Employees who drive your commercial vehicles must be named in your commercial auto policy. Failure to do so will cause any claims to be possible denied by the carrier. And if you have independent contractors using your vehicles, you may be violating their 1099 status which can result in Department of Labor and IRS issues. Contact us for a free policy review today!