If a mistake or omission happens during a job that results in financial loss or third-party injury, your client may sue you for the damages. Professional Liability insurance is designed for professionals who give advice to customers. It protects your business against the legal cost, claims and the damages that occur due to the professional mistake that was done by your business.
General Liability covers expenses related to third-party injuries, property damage, advertising mistakes and other common lawsuits that may arise from everyday business activities. The insurance will help you pay for the legal expenses like attorney fees and settlements.
Any business can be a victim of a cybercrime. Cyber Liability insurance will cover the expenses related to the data breach, identity theft, and other internet or computer-related crimes. The insurance will cover the cost for customer notification, lawyer, and court fees and other fees to help you get back on your feet again.
Workers' Compensation is state-mandated insurance you are required to carry if you have the minimum number of employees. It pays for the medical expenses, rehabilitation fees, and lost wages when the employee is proven to got sick or injured as a result of their employment. By offering this benefit, employees are not allowed to sue for employer negligence.
Insurance protects your business from many known and unknown risks. It protects your business finances by covering the cost of physical property damage, medical expenses, and liability risks that your business might face. Without insurance, your business will pay for these out of pocket, and any sound business won't be able to survive even for just a single lawsuit.
Running a business comes with many risks. Some of those include:
The cost of insurance depends on the services you offer, the number of employees you have, your average yearly profits and many other factors. To get an exact price for the insurance of your business, apply online to get a free quote, or call our customer service representatives.
CoverWallet utilizes state of the art technology to help small businesses understand and buy customized coverage, get significant savings and conveniently manage their insurance, in a matter of minutes, all through our online platform.
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