Insurance for Telemarketing Services

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What Telemarketing Services Are All About:

Individuals working in these establishments either initiate or answer calls via telephone, email, facsimile, or other modes of communication. The purposes of the communication are to sell or promote goods, solicit, take orders for customers, and provide information, such as directions.

What type of insurance does this industry need?

Policy What is it? Why get it Popularity in your industry Want free quotes?
Business Owners Policy (BOP)
Also, known as BOP, this is a type of policy that packages together elements from General Liability and Commercial Property. It may also include elements of crime and EPLI, depending on the carrier. Depending on the eligbility requirements (which vary by carrier). this is a great way for a small or mid-size business to get many of the protections it needs (also listed here) in one policy. It's the simplest way to get most if not all the essential coverage you need for your business.

What is it: Also, known as BOP, this is a type of policy that packages together elements from General Liability and Commercial Property. It may also include elements of crime and EPLI, depending on the carrier. Depending on the eligbility requirements (which vary by carrier). this is a great way for a small or mid-size business to get many of the protections it needs (also listed here) in one policy.

Why get it: It's the simplest way to get most if not all the essential coverage you need for your business.

Errors & Omissions (E&O)
This insurance covers a potentially wide range of issues, but specifically is meant to help your company cover potential damages as a result of errors or omissions that occur while performing contracted work. If your company offers advice to clients, it’s imperative that you have E&O Insurance. This will cover claims of negligence, faulty advice and subcontractor errors.

What is it: This insurance covers a potentially wide range of issues, but specifically is meant to help your company cover potential damages as a result of errors or omissions that occur while performing contracted work.

Why get it: If your company offers advice to clients, it’s imperative that you have E&O Insurance. This will cover claims of negligence, faulty advice and subcontractor errors.

General Liability
This policy protects your business claims of bodily injury, property damage or advertising and personal injury (aka reputational damage). For example, the oh-so-common "slip and fall" claim would be handled under your General Liability policy. More likely than not, you have a contract, like a loan or a lease or mortgage, requiring you have General Liablity insurance. Even if you don't, this is the absolute best measure you can take to make sure you're covered in case of a law suit against your business.

What is it: This policy protects your business claims of bodily injury, property damage or advertising and personal injury (aka reputational damage). For example, the oh-so-common "slip and fall" claim would be handled under your General Liability policy.

Why get it: More likely than not, you have a contract, like a loan or a lease or mortgage, requiring you have General Liablity insurance. Even if you don't, this is the absolute best measure you can take to make sure you're covered in case of a law suit against your business.

Workers Compensation
Workers compensation coverage covers lost wages and medical treatment resulting from an employee’s work-related injury or illness. It also covers services needed to help an employee recover and return to work. This is the law in all 50 states. As soon as you have your first non-owner employee, it's time to get Workers Comp insurance. Not having this insurance can lead to hefty fines, and of course, it means the business has to pay for any workplace injury claims.

What is it: Workers compensation coverage covers lost wages and medical treatment resulting from an employee’s work-related injury or illness. It also covers services needed to help an employee recover and return to work.

Why get it: This is the law in all 50 states. As soon as you have your first non-owner employee, it's time to get Workers Comp insurance. Not having this insurance can lead to hefty fines, and of course, it means the business has to pay for any workplace injury claims.

Commercial Property
This policy protects the business' assets, and is appropriate whether you own or lease your space or work from home. It can be customized in two ways: (1) insure more/less property and (2) insure against more/fewer causes of damage (e.g., earthquakes) If you have a mortgage or a lease, you are likely required to have property insurance. Even if you are not, this is the best way to protect the building you are in and the business property you have in case of a natural disaster or some other accident. And if the business is at fault for property damange? It helps pay those claims too.

What is it: This policy protects the business' assets, and is appropriate whether you own or lease your space or work from home. It can be customized in two ways: (1) insure more/less property and (2) insure against more/fewer causes of damage (e.g., earthquakes)

Why get it: If you have a mortgage or a lease, you are likely required to have property insurance. Even if you are not, this is the best way to protect the building you are in and the business property you have in case of a natural disaster or some other accident. And if the business is at fault for property damange? It helps pay those claims too.

Directors & Officers (D&O)
Those potentially suing your business may go after the personal assets of the company's directors and officers. This policy helps safeguard those assets. A D&O policy is often bundled with an EPLI policy. When appointing directors or hiring new officers they may demand D&O coverage as a condition of serving or employment because they don't want to put their personal assets at stake. Sometimes outside investors, such as venture capitalists or other banks, will require D&O policies before providing funding.

What is it: Those potentially suing your business may go after the personal assets of the company's directors and officers. This policy helps safeguard those assets. A D&O policy is often bundled with an EPLI policy.

Why get it: When appointing directors or hiring new officers they may demand D&O coverage as a condition of serving or employment because they don't want to put their personal assets at stake. Sometimes outside investors, such as venture capitalists or other banks, will require D&O policies before providing funding.

Umbrella Insurance
When the amount of liability coverage provided by your General Liability, Auto Liability, and/or Employer's Liability is not enough, Umbrella or Excess Liability coverage can be the solution. Umbrella coverage can be bundled with a General Liability policy or purchased as a standalone policy. This is a good idea for any business considering the astronimical amounts that may be on the line in a law suit.

What is it: When the amount of liability coverage provided by your General Liability, Auto Liability, and/or Employer's Liability is not enough, Umbrella or Excess Liability coverage can be the solution. Umbrella coverage can be bundled with a General Liability policy or purchased as a standalone policy.

Why get it: This is a good idea for any business considering the astronimical amounts that may be on the line in a law suit.

Hired & Non-Owned Auto
This insurance covers a vehicle that has been hired by a company to be used for business-related purposes, it also covers the passengers inside. If your company hires vehicles or allows employees to borrow company vehicles for business purposes, you will need this insurance. It will cover claims of personal injury and property damage should something go wrong on the job.

What is it: This insurance covers a vehicle that has been hired by a company to be used for business-related purposes, it also covers the passengers inside.

Why get it: If your company hires vehicles or allows employees to borrow company vehicles for business purposes, you will need this insurance. It will cover claims of personal injury and property damage should something go wrong on the job.

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