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!
Cyber Liability Insurance protects you from the theft of sensitive data. If you suffer a data breach or software attack, Cyber Liability Insurance will cover the costs of notifying and restoring affected customers, recovering data and repairing security systems.
Professional Liability Insurance (or E&O Insurance), protects your small business from claims of mistakes, negligence or malpractice made when providing your services that caused somebody financial loss. PLI covers your legal defense costs, damages and settlements.
Why do Specialized Design Services need insurance?
In this industry, companies provide services such as costume design, jewelry design, fashion design, float design, shoe design, fur design, and textile design.
Specialized design services need insurance because it covers your business from having to pay out-of-pocket expenses for medical payments, property damage and, more importantly, lawsuits. Insurance will cover your business and even your personal assets by paying for the costs when a covered risk occurs.
What risks do Specialized Design Services face?
Specialized design services face a lot of risks. Below are some examples:
Your employee suffers Repetitive Strain Injury (RSI) due to the workstations not being ergonomic. As their employer, your business is responsible for the medical expenses of your employee.
A client claims that your business hasn't done what was promised. Although you've demonstrated otherwise, the client still files a lawsuit against your business.
Your computer suffers a data attack in which your personal and customer data has been stolen.
How much does insurance for Specialized Design Services cost?
The cost of insurance for specialized design services varies as the cost relies on the type of services offered, the number of employees you have, the coverage needed, and how much are you willing to pay for it. To find out the cost of your insurance quick, simply apply online and receive a free quote in an instant.