If you recently started a new business, it’s time to start looking for a business insurance quote. New business owners tend to be optimistic and therefore do not consider the risks associated with running a business that could lead to a lawsuit. What if someone gets hurt on your property? What if someone tries to accuse you of libel, copyright infringement, or something similar? What if an employee accidentally damages a customer’s property? These are just a few examples of why you need a quality business insurance policy.
These policies come in many forms and offer various types of coverage. You may want to get one that is customized for your industry. If you only run a small business from home, you obviously won’t get the same business insurance quote as someone who runs a construction business.
Generable’s professional liability insurance covers a business in the event a client is injured on property associated with a business. It could also pay for the owner’s legal defenses if he or she is facing a lawsuit because a product or service causes harm. Almost any business requires this type of insurance.
If any vehicles are involved in your business in any way, you’ll need to add commercial auto insurance to your policy. What happens if one of your employees is injured or someone else is injured in an accident? What about damage to the vehicle itself?
What else to look for in a business insurance quote
Another thing to look for in a business insurance quote, depending on your type of business, is professional liability insurance. This covers factors such as claims of errors and omissions that may occur in the course of conducting business. It’s no secret that people will demand just about anything these days. You never know when you’ll need to hire a lawyer to defend you from the stupidest things.
Here is a quick overview of some of the factors that go into getting the right business insurance quote:
• Type of business and industry in which you participate
• If you provide a service or product, and what kind
• Business location, including physical address and whether or not it is run from home
• If you own or rent the place of business
• Number of employees
• If your business is a sole proprietorship, a corporation, a partnership, etc.
• If your business uses written contracts
• Estimated payroll expenses for the next year
• Estimated gross sales for the next year
There are other important considerations as well. The best place to learn more about your options and get a personalized business insurance quote is Hiscox Business Insurance. It is a legitimate company that offers a wide range of options for all types of businesses.