Errors & Omission Insurance (E&O), is a type of professional liability insurance. It protects you from being legal claims that you made a mistake when offering your services. E&O covers your defence fees & settlement costs.
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.
Special Events Insurance covers your small business that organizes special events for clients. Insurance will cover you if a caterer or live performer cancels, if the venue turns out to be unsuitable or the equipment fails.
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
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.
Do I need insurance when starting a business in Utah?
Utah requires Workers' Compensation coverage for businesses with one or more employees. Commercial Auto Insurance is also required for any vehicles used by your business. Other coverage options, such as General Liability Insurance, protect your business against a variety of risks.
Do I need General Liability Insurance even if it is not required in Utah?
While not required by Utah law, General Liability Insurance is often required for contracts, purchase agreements, and by lenders or landlords. This coverage protects your business against liability lawsuits including bodily injury, personal injury, and property damage claims.
What type of insurance should I start with in Utah?
Every business is different, but we recommend starting with Workers' Compensation if you have employees and General Liability Insurance to protect your business against lawsuits. If you use vehicles for conducting business, Commercial Auto Insurance is required in Utah as well.
What limits should I carry on my General Liability Insurance in Utah?
In most cases, General Liability Insurance starts with a $1 million per occurrence limit and a $2 million aggregate limit. You can select higher coverage limits for your Utah business based on your needs or your budget.
Guide to commercial insurance by state
Insurance laws and requirements may vary state by state. Click on your state to discover the insurance you will need for your small business: