Sara had basically grown up in her mother’s salon. From the time she was a young toddler, attempting to walk around and explore, to sitting at the desk doing her homework after high school. Eventually Sara took over her mom’s salon. She wanted to keep everything pretty much the same, all except one thing.
Sara didn’t know much about insurance, but she did know as a small business owner she needed the very best insurance. Sara found Insurance Maestro who in turn found her the best policy for small business insurance. When it came to insurance, just okay wasn’t going to cut it.
At Insurance Maestro, we understand you want to find the best Small Business Insurance possible. It needs to strike the right balance between affordable and comprehensive. Our friendly team of insurance experts are here to support you, and we’re always happy to answer any questions you might have.
This depends on how you use your vehicle, who uses your vehicle, and whether or not you have expensive equipment that you transport or store in your vehicle. In some cases, you can simply add a rider to your existing personal auto insurance, but not all.
In some states, you are mandated by law to buy coverage, even if there is only a single employee. However, in others, the minimum number of employees you need to have before you are legally required to buy it could be 2-5. It’s always best to check your local state laws and talk a small business insurance expert about the cost of workers compensation coverage.
Not all small businesses can afford to do this, and in many states, if you have less than 50 employees, then you might not legally need to buy this. If you’re concerned about the cost, but would still like to offer some coverage, then it’s not uncommon for employees and their employers to split the cost of their health insurance.
At Insurance Maestro, we understand the need to buy the best small business insurance available for your business. Our expert team of commercial insurance experts are here to support you, and we’re always happy to directly answer any questions you might have.
We believe your time should be spent focussing on growing your business, and we’re here to make sure the process of buying business insurance is hassle-free, informed, and easy.
It doesn’t matter whether you’re established, growing, or looking to buy insurance for a part-time gig. Small business insurance is designed to protect you, your assets, and your customers in the event something goes wrong. If you face any action and you don’t have the commercial coverage in place, your personal assets could be at risk. Buying small business insurance gives you credibility, confidence, and peace of mind, so you can focus on growing your empire.
Irrespective of your industry or the type of work you do, there will be certain risks you face as part of your operational or transactional processes. When you consider buying small business insurance, your protection is key.
Small Business Liability Insurance
Depending on your business model, your sector, and your working arrangements, you will have liabilities that you need to account for. Here are the most typical:
This is designed to protect from claims made by third-parties. It can be a physical injury they sustain or damage to their property. It can also include advertising liability coverage too.
Whether you make, sell or distribute products of any kind, you need product liability in case one of these products causes an injury, illness, or damage to any person’s property. It’s a common misconception that people who sell or distribute do not need to carry this coverage and that it would fall down to the manufacturer. However, if they cannot pursue a claim against the manufacturer, or they’re in a different country, then they could take action against the reseller of the product.
It’s also called Errors and Omissions or E&O for short. If you provide guidance, advice, or you work as a consultant, then this will protect you financially from claims of negligence or misadvice. Even when a small business is not at fault, the cost of a legal defense can be crippling.
Data Breach Liability
Almost every small business will store data on a server or transact online. Data Breach liability coverage is essential for small business, as they are often more of a prime target for cybercriminals than larger corporations due to the lack of proper security measures that are perceived to be in place. In the event any data is compromised, even through employee errors, you’re covered for all the essential actions and expenses that may arise as a result of the breach.
As a small business, you need the right coverage at the right price. Buying small business insurance is designed to grow with you as you develop your operations, and it offers essential protection for your personal and professional assets.