Insurance for Document Preparation Services
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What Insurance Do Document Preparation Services Need?
Business Owners Policy (BOP) protects you from business liability and property damage at a lower cost. BOP covers claims resulting from fire, theft & disasters. BOP also covers claims of bodily injury or property damage during your business operations.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
Frequently Asked Questions
Why do Document Preparation Services need insurance?
Establishments in this industry provide different types of document preparation services. This includes court reporting, stenotype services or general document preparation services. Services such as court reporting and closed caption exist within this industry, as well as desktop publishing, letter writing, proofreading, resume writing and other types of documentation services.
You help clients with preparation of legal documents, proofreading, desktop publishing, and other services for their benefit. If your business makes a mistake that causes your client financial harm, your business might be sued for damages. If this happens, your insurance will cover for the expenses up to its coverage limits. Without insurance you’ll be paying these out of your business pocket.
What risks do Document Preparation Services face?
Document preparation services face many liability risks. When there is a mistake in the documents that you create for clients, causing them financial harm, it could result in a lawsuit that ends up destroying your business entirely. Other risks include:
- Your business property could get destroyed causing the need for an expensive rebuild.
- Your commercial vehicle could be in an accident. If your driver is at fault, you’ll be paying for the medical fees, the repair of the other party’s vehicle and other fees related to the accident, especially if you lose all documents in transfer.
This is just some of the many risks that your business can face.
How much does insurance cost for Document Preparation Services?
The cost of your insurance depends on the services you offer, the coverage you need and the number of employees you have. But not all insurance carriers use the same criteria to figure out the cost of your insurance policy. If you want to find out the cost of your insurance policy, simply take our online assessment or give us a call and we’ll provide the best quote for your business.