\n
\nWhy is general liability insurance important?
\nGeneral liability insurance protects against the most common risks of running a business.
\n
\nThis business liability insurance coverage pays for legal costs if a customer trips and suffers an injury at your business, or if you accidentally damage someone's property. This policy also covers personal and advertising injuries, such as libel and copyright infringement.
\n
\nSmall business owners often need general liability insurance to fulfill requirements for a lease, loan, or contract. For example, a landlord might ask to see a certificate of insurance when you sign a commercial lease.
\n
\nGeneral liability coverage is a crucial component of risk management for small businesses, and it's affordable. The median premium is about $42 per month for Insureon customers.
\n
\nGeneral liability coverage is essential if your business:
\n - Has a location that is open to the public
\n - Works closely with customers or clients
\n - Handles client property
\n - Rents or owns commercial property
\n
\nWhat does general liability insurance cover?
\nGeneral liability insurance provides coverage for common liability claims from third parties (people outside your business).
\n
\nThis business insurance policy covers legal defense costs if someone sues over a bodily injury, property damage, or advertising injury. Your policy can pay for everything from hiring a lawyer to court-ordered judgments and settlements.
\n
\nSpecifically, your commercial general liability (CGL) policy provides coverage for:
\n
\n\t- Third-party bodily injuries
\n\t If a customer is hurt in an accident at your business, general liability insurance can help pay for medical expenses. It also covers legal expenses if a customer sues over the injury.
\n
\n\t- Third-party property damage
\n\t A general liability insurance policy can cover expenses when your business accidentally damages or destroys another person’s property.
\n
\n\t- Product liability
\n\t Not all property damage or customer injuries happen inside a store. If a business manufactures, distributes, or sells products, it can be sued over the harm its products cause to people or property.
\n
\n\t Most commercial general liability (CGL) policies include product liability insurance. This type of coverage helps pay for lawsuits and other financial losses related to defective products, labeling errors that harm customers, and other product risks.
\n
\n\t- Personal injuries and advertising injuries
\n\t If someone sues a business owner or employee over slander, libel, false arrest, or copyright infringement, general liability insurance can help pay for legal defense costs and any resulting settlement or judgment.
\n
\nHow much does general liability insurance cost?
\nGeneral liability insurance premiums are calculated based on a few different factors, including:
\n
\n - Amount of coverage
\n - Industry and risk factors
\n - Location
\n - Number of employees
\n
\nGeneral liability insurance typically costs an average of $42 per month. This is based on the average cost of a general liability insurance policy. 29% of Insureon’s small business customers pay less than $30 per month for their policies.
\n
\nWho needs general liability insurance?
\nMost companies need this insurance, especially if you rent or own an office or commercial space. Even if that doesn't apply to you, small businesses that work directly with clients and customers benefit from general liability insurance.
\n
\nThis insurance policy can keep your company financially stable if you’re sued by a customer or competitor. Because general liability insurance provides such important coverage, most small business owners buy the policy right after they start their business.
\n
\nWhat does general liability insurance not cover?
\nWhile general liability insurance is crucial for most small businesses, it does not provide all the protection you need. For instance, your policy does not include coverage for:
\n
\n\t- Professional errors
\n \t Professional liability insurance, also called errors and omissions insurance (E&O), can cover lawsuits over professional mistakes, including undelivered services and missed deadlines. This policy can apply to many professions, including: architects, consultants, interior designers, real estate professionals, tax preparers, and more.
\n
\n\t- Employee injuries
\n \t Workers' compensation insurance is the policy that covers medical expenses and disability benefits for employees who are injured on the job. It's required in most states for businesses that have employees. In most cases, labor-intensive businesses often purchase this policy, but it can be beneficial to accounting firms, computer repair professionals, house cleaners, photographers, and more.
\n
\n\t- Stolen or damaged business property
\n\tA business owner's policy (BOP) helps pay for replacement of stolen business property. It also covers business property damaged by a fire or certain weather events. This policy combines general liability insurance with commercial property insurance at a discount. This bundle is ideal for low-risk businesses such as advertising agencies, churches and religious organizations, day spas, insurance agents, and more.
\n
\n\tSimilar to a BOP, a commercial package policy (CPP) also packages these coverages, but is generally purchased by high risk small and medium-sized businesses. With broad underwriting and customizable limits, a CPP allows business owners to address the specific risks they face with the right amount of coverage.
\n
\n\tEmployment practices liability insurance (EPLI) can cover lawsuit expenses related to employee claims of harassment, discrimination, and wrongful termination. Good candidates for EPLI coverage are retail, food services, manufacturing, and healthcare professions.
\n
\n\t- Vehicles used by a business
\n \tPersonal auto insurance policies almost always exclude business use. Most states require that vehicles owned by a business must be covered by commercial auto insurance. Some professions that should consider commercial auto insurance are: construction and installation, cleaning, and landscaping businesses.
\n
\n\tPersonal, leased, and rented vehicles used for work purposes can be covered by hired and non-owned auto insurance (HNOA), which you can add to a general liability policy.
\n
\n\t- Liquor liability
\n \tLiquor liability insurance covers legal fees from incidents involving people who became intoxicated at your business. That could include drunk driving, assault, and vandalism.
\n
\n\tThis policy is required for businesses that serve alcohol. You can purchase it as a standalone policy or add it to your general liability policy. A few industries in particular that should carry this coverage are restaurants, food trucks, convenience stores, and breweries.
\n
"}}},{"id":"0078de77-f796-45f7-b1bc-bd9f9c4c44f4","url":"/shared/policy-recommendation-tool-settings/recommended-policy-data/business-owners-policy","name":"Business Owners Policy","displayName":"Business Owners Policy","fields":{"policyIcon":{"value":{"src":"https://cleanttteam.com/-/media/insurance-policies/insurance-policy-icons/insurance-policy-icons-color/48px/insurance-policy-icons-purple/icon_policy_business-owners-policy.svg?h=48&iar=0&w=48&rev=16acf31a188b41c2897485ea8e860775","alt":"Business owner’s policy icon","width":"48","height":"48","title":"Business owner’s policy icon"}},"policyCode":{"value":"BOP"},"policyTitleText":{"value":"Business Owner's Policy (BOP)"},"policyModalTitle":{"value":"Business Owner's Policy"},"detailedPolicyDescription":{"value":"\t- Employee discrimination lawsuits
\n\t Employment practices liability insurance (EPLI) can cover lawsuit expenses related to claims of harassment, discrimination, and wrongful termination.
\n
\n\t- Vehicles used by a business
\n\t Commercial auto insurance provides coverage for business vehicles. It’s required in most states when your business owns the vehicle or you use it primarily for work.
\n
\n\t- Destroyed payment records
\n\t If a fire or other incident destroys your customer records, you could have trouble collecting outstanding payments. This is not a covered loss of commercial property insurance, unless your policy has an accounts receivable endorsement.
Commercial auto insurance covers legal bills, medical expenses, and property damage if a business vehicle is involved in an accident.
\n
\nWhy is commercial auto insurance important?
\nIf your company owns a car, you will very likely need commercial auto insurance. Nearly every state requires commercial auto insurance coverage for business-owned vehicles.
\n
\nNew Hampshire and Virginia are the only states where auto insurance isn’t required. However, drivers are still responsible for any damages they cause.
\n
\nYou can rely on commercial auto insurance for financial protection if you or an employee needs medical care or faces legal expenses due to an automobile accident. If you don’t carry commercial vehicle insurance, your business will be responsible for any medical bills and legal fees, which can get expensive.
\n
\nEven when business auto insurance coverage isn’t required, it’s still a smart choice. Without it, you could end up paying thousands of dollars in medical bills and other costs.
\n
\nBusinesses that purchase commercial auto insurance often:
\n\t- Have a vehicle titled to their business
\n\t- Drive to and from worksites
\n\t- Carry tools, equipment, or products used for work
\n\t- Transport clients or employees
\n\t- Rely on delivery drivers or couriers
\n
\nWhat does commercial auto insurance cover?
\nCommercial auto insurance helps cover medical payments and property damage related to an accident. This coverage includes legal expenses if you’re sued. A policy may also cover vehicle theft, vandalism, and other losses and damages.
\n
\nSpecifically, commercial auto insurance coverage includes:
\n
\n\t- Auto accident liability
\n\tCommercial auto insurance includes property damage liability coverage that helps pay for damages in an accident you caused. That could include:
\n
\n\t\t- Repair costs for the other person's damaged vehicle or property
\n\t\t- Legal expenses if you're sued over the other driver's injuries
\n
\n\t- Medical payments
\n\t Commercial auto insurance policies that include medical payments, or bodily injury liability, coverage can pay for:
\n
\n\t\t- Your medical expenses for bodily injuries from a car accident
\n\t\t- Medical expenses for passengers in your vehicle
\n
\n\tThis coverage is available regardless of who caused the accident.
\n
\n\t- Physical damage and collision
\n\tCommercial automobile insurance protects against vehicle theft and physical damage, as well as provides comprehensive coverage for non-collision damages, such as:
\n
\n\t\t- Vandalism
\n\t\t- Fire and certain weather events
\n\t\t- Impact with another object
\n
\n\t- Accidents involving uninsured motorists
\n\tAbout one in eight drivers in the United States are uninsured, according to the Insurance Research Council. When they cause accidents, they might not be able to pay for damages.
\n
\n\tYour policy's uninsured motorist coverage makes sure your business doesn’t have to pay for the resulting medical expenses or vehicle repairs.
\n
\nHow much does commercial auto insurance cost?
\nCommercial auto insurance costs an average of $147 per month. 37% of Insureon small business customers pay less than $100 per month for their policies.
\n
\nYour cost is calculated based on a number of factors, including:
\n
\n\t- Number of vehicles
\n\t- Type of vehicle and value
\n\t- Level of risk involved
\n\t- Claims history
\n\t- Employee driving records
\n\t- Policy deductible and limits
\n
\nWho needs commercial auto insurance?
\nCommercial auto insurance benefits a variety of industries that utilize business vehicles. It is designed for both businesses and independent contractors that need a company vehicle in order to operate their business.
\n
\nHowever, there are a few specific professions who need commercial auto coverage options more often than others, including:
\n
\n\t- Construction and installation
\n\t- Consulting
\n\t- Cleaning
\n\t- Landscaping
\n
\nWhat does commercial auto insurance not cover?
\n
\n\t- Personal or leased vehicles
\n\tCommercial auto insurance does not cover leased or personal vehicles used for business purposes. However, your business can still be held accountable if an employee gets into an accident in a personal or leased vehicle.
\n
\n\tHired and non-owned auto insurance is the appropriate policy for vehicles that your business uses but does not own. This policy will provide protection for employees who drive their own or leased cars for work purposes.
\n
\n\tIn addition, lease gap insurance is an endorsement you can add to your commercial auto policy that covers the total loss of a leased or financed vehicle. Another endorsement to consider is drive other car insurance, which covers non-owned vehicles that employees or executives may rent or borrow.
\n
\n\t- Recently purchased vehicles
\n\tIf you purchase a business vehicle and it's not yet covered by your commercial auto insurance policy, you would be responsible for any liabilities that may occur to the vehicle.
\n
\n\tIn order to protect any recently purchased business vehicles, you should get any auto liability insurance, which offers a temporary extension of your commercial auto coverage. It can also cover any hired and non-owned vehicles that you use for your business.
\n
\n\t- Customers' vehicles
\n\tIf your business is storing or performing service on a customer's vehicle, it would be not covered under your commercial auto insurance. If something were to happen to your customer's vehicle, such as damage from a break in, you would be responsible for repair and other related expenses.
\n
\n\tGarage keepers liability coverage would insure your customer automobiles while it is in your care, custody and control.
\n
\n\t- Garage business risks
\n\tIf you have a garage-based or auto service business, your commercial auto insurance policy does not protect against common garage operation risks, such as a customer slipping and falling on leaked motor oil.
\n
\n\tGarage liability insurance is a type of general liability insurance that covers the many risks associated with automotive business operations. This includes customer injuries and legal costs from lawsuits.
\n
"}}},{"id":"d251cbe1-fe3a-46b3-886c-41c3461e4a6b","url":"/shared/policy-recommendation-tool-settings/recommended-policy-data/commercial-umbrella","name":"Commercial Umbrella","displayName":"Commercial Umbrella","fields":{"policyIcon":{"value":{"src":"https://cleanttteam.com/-/media/insurance-policies/insurance-policy-icons/insurance-policy-icons-color/48px/policy-icon_umbrella-excess-liability--color-48.svg?h=48&iar=0&w=48&rev=7383603b77594d32af18d512132eb943","alt":"Umbrella / excess liability insurance icon","width":"48","height":"48","title":"Umbrella / excess liability insurance icon"}},"policyCode":{"value":"UB"},"policyTitleText":{"value":"Commercial Umbrella"},"policyModalTitle":{"value":"Commercial Umbrella Insurance"},"detailedPolicyDescription":{"value":"Once a policy’s limit is reached, commercial umbrella insurance provides additional coverage for liability claims made on general liability, commercial auto, or employer’s liability insurance.
\n
\nWhy is commercial umbrella insurance important?
\nBusiness owners who purchase commercial umbrella insurance usually need it to fulfill a contract that requests higher than standard policy limits.
\n
\nCommercial umbrella insurance offers extra liability coverage for the most expensive lawsuits. For example, if a covered lawsuit maxes out your general liability insurance policy but you still owe money for damages, business umbrella coverage can provide additional funds to make up the difference.
\n
\nUmbrella liability insurance can supplement your coverage provided by:
\n
\n\t- General liability insurance
\n\t- Employer's liability insurance (often included in workers' compensation)
\n\t- Commercial auto insurance or hired and non-owned auto (HNOA) insurance
\n
\nCommercial umbrella insurance can boost coverage for any (or all) of these policies in $1 million increments. Before you can purchase umbrella liability insurance, however, an insurer will require you to carry a certain amount of coverage for the underlying policy.
\n
\nBusinesses that buy umbrella insurance coverage:
\n\t- Have insurance but need to close the gap on requirements above $2 million
\n\t- Have high liability risks, such as a business location with a lot of foot traffic
\n\t- Need more liability protection across several policies
\n
\nWhat does commercial umbrella insurance cover?
\nCommercial umbrella insurance policies have the same terms and cover the same risks as the underlying business insurance policy.
\n
\nSpecifically, umbrella insurance can help provide additional coverage for the following:
\n
\n\t- Slip-and-fall injuries
\n\t When you add commercial umbrella insurance (or excess liability insurance) to your general liability insurance, it can cover your legal expenses if someone gets injured on your business property.
\n
\n\t- Third-party property damage
\n\t When you add commercial umbrella insurance to a general liability policy, it helps pay for legal bills related to destroyed or damaged third-party property.
\n
\n\t- Car accident liability
\n\t When you add commercial umbrella insurance to a commercial auto insurance or hired and non-owned auto insurance policy, it helps cover costs if someone sues for damages caused by your vehicle.
\n
\n\t- Employee injury lawsuits
\n\t When you add commercial umbrella insurance to employer's liability insurance (typically included in workers' compensation insurance), it helps pay for employee lawsuits over work injuries.
\n
\nHow much does commercial umbrella insurance cost?
\nFor Insureon customers, commercial umbrella insurance costs on average about $75 per month for each $1 million of additional coverage.
\n
\nSeveral factors affect umbrella policy costs, including:
\n
\n\t- Industry and risk
\n\t- Coverage limits
\n\t- Location
\n\t- Number of employees
\n\t- Number of vehicles
\n
\nHow does commercial umbrella insurance work?
\nThink of commercial umbrella insurance coverage as a safety net. Your other liability policies are your first line of defense. When you need an added layer of protection on a claim that exceeds the limits of your primary policy, your business umbrella insurance can pick up the slack.
\n
\nHere's when you need it
\nLet's say you have a commercial general liability policy with a $2 million per-occurrence limit, which means it can pay up to $2 million toward your legal expenses.
\n
\nIf a client suffers a serious injury after tripping and falling at your business, and decides to sue, the medical expenses, legal fees, and damages could add up to $2.5 million. After hitting your general liability limit, you would still have a $500,000 bill.
\n
\nHere's how it helps cover expenses
\nAn umbrella liability policy can help cover the expenses that exceed your underlying policy's limit. For the case above, a business umbrella policy would cover the additional $500,000.
\n
\nBasically, you can make a claim on umbrella insurance when each of the following occurs:
\n
\n\t- Your business is sued over third-party bodily injury or property damage.
\n\t- The cost of the lawsuit is more than the limit of the underlying coverage.
\n
\nWho needs a commercial umbrella policy?
\nCommercial umbrella insurance used to be a policy that only big businesses bought. These days, more small businesses invest in commercial umbrella insurance due to the rising cost of lawsuits and medical expenses.
\n
\nYou should consider an umbrella liability policy if:
\n\t- You want to sign a big client who requires more liability insurance
\n\t- You have lots of contact with the public
\n\t- Your business owns vehicles
\n\t- Your work is hazardous
\n
\nWhat does commercial umbrella insurance not cover?
\nWhile umbrella insurance does expand coverage limits for a number of policies, it does not provide all the protection that a small business might need.
\n
\nFor instance, an umbrella policy does not cover:
\n
\n\t- Damages within the underlying policy limits
\n\tUmbrella liability insurance does not become active until the underlying policy has reached its limits. And as with any policy, it does not provide coverage beyond its own policy limits.
\n
\n\t- Business property damage
\n\tBusiness umbrella insurance can only be added to liability policies, not property insurance.
\n
\n\tThe commercial property insurance portion of a business owner's policy (BOP) or commercial package policy (CPP) can help pay for repair or replacement when your business property is damaged by fire, theft, or covered weather-related events.
\n
\n\t- Professional errors
\n\tProfessional liability insurance, also called errors and omissions (E&O) insurance or malpractice insurance, can cover lawsuits over professional mistakes, including undelivered services and missed deadlines.
\n
\n\tYou can boost the limits on this policy with excess liability insurance, also called excess E&O, which is very similar to umbrella insurance.
\n
\n\t- Employee theft
\n\tCommercial crime insurance, a type of fidelity bond, is needed to financially protect your business from criminal acts committed by employees against customers or clients.
\n
\n\tUnlike insurance, bonds only reimburse damages up to the size of the coverage that was purchased. Umbrella insurance could not be used to provide coverage beyond that limit.
\n
"}}},{"id":"139dd472-83a8-466f-8529-a0417488fe02","url":"/shared/policy-recommendation-tool-settings/recommended-policy-data/cyber-insurance","name":"Cyber Insurance","displayName":"Cyber Insurance","fields":{"policyIcon":{"value":{"src":"https://cleanttteam.com/-/media/insurance-policies/insurance-policy-icons/insurance-policy-icons-color/48px/insurance-policy-icons-purple/icon_policy_cyber-liability.svg?h=48&iar=0&w=48&rev=2eb57c4d83c44dc7a2099cdd800670d0","alt":"Cyber liability icon","width":"48","height":"48","title":"Cyber liability icon"}},"policyCode":{"value":"CYB"},"policyTitleText":{"value":"Cyber Liability"},"policyModalTitle":{"value":"Cyber Liability Insurance"},"detailedPolicyDescription":{"value":"Cyber liability insurance, also called cybersecurity insurance, protects small businesses from the high costs of a data breach or malicious software attack. It covers expenses such as customer notification, credit monitoring, legal fees, and fines.
\n
\nWhy do small businesses need cyber insurance?
\nCyberattacks and data breaches are expensive and increasingly common. Small businesses often have weak cybersecurity and large vulnerabilities, which makes them an attractive target.
\n
\nA cyberattack isn't just an inconvenience – it can put you out of business. In fact, 60% of small businesses go under within six months of a cyberattack.
\n
\nCyber insurance coverage helps your business recover from financial losses caused by cyberattacks and data breaches. It can pay for credit monitoring, attorney's fees, fines, and other costly expenses.
\n
\nBusinesses that purchase cyber insurance typically handle:
\n\t- Credit card or bank account information
\n\t- Medical information
\n\t- Social Security numbers or driver's license numbers
\n\t- Customer names, email addresses, phone numbers, and addresses
\n\t- Cybersecurity for other businesses
\n
\nWhat does cyber liability insurance cover?
\nCybersecurity insurance covers costs associated with data breaches and cyberattacks, including the cost of recovering important data and hiring legal representation.
\n
\nThere are two types of cyber liability insurance coverage: first-party coverage and third-party coverage.
\n
\nMost businesses need first-party cyber liability insurance to defend against their own cyber risks, especially if they handle personally identifiable information (PII) for customers.
\n
\nCompanies that are responsible for their clients' cybersecurity would need third-party cyber liability insurance to provide legal protection from client lawsuits.
\n
\nWhat is first-party cyber liability insurance?
\nFirst-party cyber liability insurance, sometimes called data breach insurance, covers costs related to a data breach or cyberattack that directly impacts your business.
\n
\nYou can often add this coverage to your general liability insurance. It’s recommended for businesses that collect personal information, such as customer credit card numbers or email addresses.
\n
\nSpecifically, first-party cyber liability insurance can help cover:
\n
\n\t- Data breach response costs
\n\t State laws typically require a response when a business is impacted by a data breach. Cyber insurance helps cover costs associated with hiring a digital forensic expert to investigate the breach, customer notifications, consumer credit and fraud monitoring services, as well as Payment Card Industry (PCI) compliance fines.
\n
\n\t- Business interruption expenses
\n\t When a cyber incident brings necessary systems offline or otherwise grinds business to a halt, cyber insurance can help cover business interruption expenses, such as the cost of hiring additional staff or renting equipment. This includes purchasing third- party services, such as hiring a public relations manager or crisis management team.
\n
\n\t- Ransomware payments
\n\t If a hacker encrypts private information about your company or its employees and holds it for ransom, cyber liability insurance will help with payments to meet cyber extortion demands.
\n
\nWhat is third-party cyber insurance coverage?
\nThird-party cyber liability coverage helps pay for legal costs when a client sues your company for failing to prevent a data breach or cyberattack at their company. This insurance is recommended for technology businesses that make software recommendations to clients or are responsible for their network security.
\n
\nThird-party coverage can be bundled with your errors and omissions policy into what is known as technology errors and omissions insurance, or tech E&O.
\n
\nSpecifically, third-party cyber insurance can help cover:
\n
\n\t- Legal defense costs
\n\t If a client sues your business for failing to prevent a data breach at their business, cyber liability insurance could help cover attorney's fees and other legal costs for your defense in court.
\n
\n\t- Settlements
\n\t If your business faces a lawsuit from a client who experienced a data breach, you and the client could decide upon a settlement out of court that would amend the damages they experienced.
\n
\n\t- Court-ordered judgments
\n\t If a client accuses you of being responsible for a data breach at their business and sues your company, you may be legally obligated to pay for damages from any judgments in the lawsuit.
\n
\nHow to protect your business from cyberattacks
\nCyberattacks are expensive and can take a long time to resolve. A study by IBM and the Ponemon Institute put the average cost of a data breach at $3.86 million. The average time to identify and contain a breach was 280 days.
\n
\nA cyber liability insurance policy can help pay for:
\n
\n\t- Mandatory notification of affected parties
\n\t- Investigating and fixing security flaws
\n\t- Several years of credit monitoring services for affected customers
\n\t- Loss of business opportunities
\n\t- Complete our easy online insurance application to get free cyber liability insurance quotes that meet the needs of your small business.
\n
\nHow much does cyber liability insurance cost?
\nInsureon customers pay an average premium of $145 per month for cyber insurance. The cost of cyber liability insurance is based on several factors including:
\n
\n\t- Amount of sensitive data handled
\n\t- Your industry
\n\t- Coverage limits
\n\t- Number of employees
\n
\nAll of these factors will be instrumental in determining how much cyber liability insurance your small business needs.
\n
\nWho needs cyber insurance?
\nCyber liability insurance, sometimes called cybersecurity insurance, is a key policy for companies that operate in cybersecurity, work in a cloud environment, or handle sensitive customer information, such as credit card numbers.
\n
\nWhile any business can fall victim to a data breach or cyberattack, a few industries are particularly vulnerable, including:
\n
\n\t- IT professionals
\n\t- Retailers
\n\t- Healthcare organizations
\n\t- Financial service providers
\n
\nWhat does cyber liability insurance not cover?
\nWhile cyber insurance covers costs related to cyber threats, it does have a number of coverage exclusions. For example, it does not cover data loss caused by a power outage.
\n
\nOther exclusions from cyber liability insurance coverage include:
\n
\n\t- Mistakes and oversights
\n\tProfessional liability insurance, also called errors and omissions insurance, covers the costs of lawsuits over mistakes and oversights. This policy also covers legal costs related to professional negligence.
\n
\n\t- Data loss caused by accidental damage
\n\tWhile a cyber insurance policy covers data lost in a software attack, it does not insure data lost from accidental physical damage to a network or storage device.
\n
\n\tElectronic data liability coverage expands the property damage coverage in a business owner's policy (BOP) to include a loss of data caused by accidental damage to a customer’s computer, hard drive, or other data storage equipment.
\n
\n\t- Data loss from natural occurrences
\n\tIf you experience data loss during a power surge, fire, or natural disaster, you would need electronic data processing (EDP) insurance. You can typically bundle this coverage in a business owner's policy. It provides protection for data loss in your electronic data processing equipment, such as computers and backup systems.
As a Content Specialist at Insureon, Sophie specializes in content development and management. This includes updating existing website content with new data and information, editing her colleagues’ copy, and managing uploads. She also runs Insureon’s social media channels.
\nBefore joining Insureon, Sophie worked in communications for a healthcare tech company, where she drafted and distributed content related to internal organizational announcements and changes. Throughout her career, she’s created and edited a variety of deliverables, such as articles, blog posts, newsletters, reports, video scripts, webinars and white papers.
"},"educationSectionHeading":{"value":"Education"},"education":{"value":"Sophie graduated with her bachelor's and master's degrees in psychology from Loyola University Chicago and DePaul University, respectively. During her undergraduate and graduate careers, she took several business psychology courses, such as Coaching for Leadership.
\nAs a daughter of small business owners, she considers her upbringing of watching/supporting her parents run their store as one of her greatest educational experiences, and is passionate to support such a hardworking and dedicated community.
"}}},"blogPostDate":{"value":"2025-01-08T00:00:00Z"},"footnote":{"value":"Sophie specializes in content development and uploading, including social media. Throughout her career, she’s created and edited a variety of deliverables, such as articles, blog posts, newsletters, reports, video scripts, webinars and white papers. Before joining Insureon, Sophie worked in communications at GoHealth, drafting and distributing content related to internal organizational changes and announcements.
\nAs the Senior Copywriter at Insureon, Jess works closely with team members throughout Insureon to write and manage insightful, compelling content for policy pages, articles, blog posts, videos, and large-scale content requests.
\nPrior to Insureon, she worked for large tech distributor on a range of projects, from event materials to brand videos to lead-generation campaigns.
"},"educationSectionHeading":{"value":"Education"},"education":{"value":"Jess attended the Advertising Design program at Ringling College of Art and Design, where she earned her BFA, as well as a minor in the Business of Art + Design. During her time there, Jess was an active member in the on-campus advertising and graphic design club: Creative Suite.
\nShe was also inducted into the Alpha Delta Sigma Honor Society.
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You can still access your account and apply for quotes online.
"},"dateUp":{"value":"2025-07-03T00:00:00Z"},"dateDown":{"value":"2025-07-05T00:00:00Z"}}},"searchAppStart":{"id":"54acc7e8-c1f9-41c0-962b-c945b81feb1f","url":"/shared/app-start-settings/typeahead-settings-v3-launch","name":"Typeahead Settings v3-launch","displayName":"Typeahead Settings v3-launch","fields":{"buttonText":{"value":"Get Quotes"},"cookieErrorMessage":{"value":"To start an application for insurance, please enable cookies.
"},"errorMessage":{"value":"Please type your profession to get your free quotes."},"escapeLinkHref":{"value":"tel:+18006881984"},"escapeLinkText":{"value":"Or call us at (800) 688-1984"},"mobilePlaceholder":{"value":"What kind of work do you do?"},"modalHeading":{"value":"What kind of work do you do?
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"},"noResultsHeader":{"value":"Sorry, we couldn’t find “{term}”"},"noResultsSuggestions":{"value":"Try describing your business in a different way."},"placeholder":{"value":"What kind of work do you do?"},"searchingPlaceholder":{"value":"Search for your business type"},"confirmSelection":{"value":true},"confirmButtonLabel":{"value":"Next"},"ctaColor":null}},"ctaStyle":null,"useQ221":{"value":false},"leadRoutingAttributes":{"id":"a3259bd7-beed-4156-9300-f9bf6abc2f04","url":"/shared/lead-routing-settings/lead-routing-attributes","name":"Lead Routing Attributes","displayName":"Lead Routing Attributes","fields":{"leadRoutingNumber":{"value":"(800) 688-1984"}}},"policyRecommendationPageSettings":{"id":"bf46352f-9972-496e-b372-327f66ddf1ff","url":"/shared/policy-recommendation-tool-settings/policy-recommendation-page-settings","name":"Policy Recommendation Page Settings","displayName":"Policy Recommendation Page Settings","fields":{"policyData":[{"id":"c91f5a32-9de6-4e94-a542-a187ae95058f","url":"/shared/policy-recommendation-tool-settings/recommended-policy-data/general-liability","name":"General Liability","displayName":"General Liability","fields":{"policyIcon":{"value":{"src":"https://cleanttteam.com/-/media/insurance-policies/insurance-policy-icons/insurance-policy-icons-color/48px/insurance-policy-icons-purple/icon_policy_general-liability.svg?h=48&iar=0&w=48&rev=2ea6c5849dc44da388d767747dc66be7","alt":"General liability icon","width":"48","height":"48","title":"General liability icon"}},"policyCode":{"value":"GL"},"policyTitleText":{"value":"General Liability"},"policyModalTitle":{"value":"General Liability Insurance"},"detailedPolicyDescription":{"value":"General liability insurance covers common business risks like customer injury, customer property damage, and advertising injury. It protects your small business from the high costs of lawsuits and helps you qualify for leases and contracts.
\n
\nWhy is general liability insurance important?
\nGeneral liability insurance protects against the most common risks of running a business.
\n
\nThis business liability insurance coverage pays for legal costs if a customer trips and suffers an injury at your business, or if you accidentally damage someone's property. This policy also covers personal and advertising injuries, such as libel and copyright infringement.
\n
\nSmall business owners often need general liability insurance to fulfill requirements for a lease, loan, or contract. For example, a landlord might ask to see a certificate of insurance when you sign a commercial lease.
\n
\nGeneral liability coverage is a crucial component of risk management for small businesses, and it's affordable. The median premium is about $42 per month for Insureon customers.
\n
\nGeneral liability coverage is essential if your business:
\n - Has a location that is open to the public
\n - Works closely with customers or clients
\n - Handles client property
\n - Rents or owns commercial property
\n
\nWhat does general liability insurance cover?
\nGeneral liability insurance provides coverage for common liability claims from third parties (people outside your business).
\n
\nThis business insurance policy covers legal defense costs if someone sues over a bodily injury, property damage, or advertising injury. Your policy can pay for everything from hiring a lawyer to court-ordered judgments and settlements.
\n
\nSpecifically, your commercial general liability (CGL) policy provides coverage for:
\n
\n\t- Third-party bodily injuries
\n\t If a customer is hurt in an accident at your business, general liability insurance can help pay for medical expenses. It also covers legal expenses if a customer sues over the injury.
\n
\n\t- Third-party property damage
\n\t A general liability insurance policy can cover expenses when your business accidentally damages or destroys another person’s property.
\n
\n\t- Product liability
\n\t Not all property damage or customer injuries happen inside a store. If a business manufactures, distributes, or sells products, it can be sued over the harm its products cause to people or property.
\n
\n\t Most commercial general liability (CGL) policies include product liability insurance. This type of coverage helps pay for lawsuits and other financial losses related to defective products, labeling errors that harm customers, and other product risks.
\n
\n\t- Personal injuries and advertising injuries
\n\t If someone sues a business owner or employee over slander, libel, false arrest, or copyright infringement, general liability insurance can help pay for legal defense costs and any resulting settlement or judgment.
\n
\nHow much does general liability insurance cost?
\nGeneral liability insurance premiums are calculated based on a few different factors, including:
\n
\n - Amount of coverage
\n - Industry and risk factors
\n - Location
\n - Number of employees
\n
\nGeneral liability insurance typically costs an average of $42 per month. This is based on the average cost of a general liability insurance policy. 29% of Insureon’s small business customers pay less than $30 per month for their policies.
\n
\nWho needs general liability insurance?
\nMost companies need this insurance, especially if you rent or own an office or commercial space. Even if that doesn't apply to you, small businesses that work directly with clients and customers benefit from general liability insurance.
\n
\nThis insurance policy can keep your company financially stable if you’re sued by a customer or competitor. Because general liability insurance provides such important coverage, most small business owners buy the policy right after they start their business.
\n
\nWhat does general liability insurance not cover?
\nWhile general liability insurance is crucial for most small businesses, it does not provide all the protection you need. For instance, your policy does not include coverage for:
\n
\n\t- Professional errors
\n \t Professional liability insurance, also called errors and omissions insurance (E&O), can cover lawsuits over professional mistakes, including undelivered services and missed deadlines. This policy can apply to many professions, including: architects, consultants, interior designers, real estate professionals, tax preparers, and more.
\n
\n\t- Employee injuries
\n \t Workers' compensation insurance is the policy that covers medical expenses and disability benefits for employees who are injured on the job. It's required in most states for businesses that have employees. In most cases, labor-intensive businesses often purchase this policy, but it can be beneficial to accounting firms, computer repair professionals, house cleaners, photographers, and more.
\n
\n\t- Stolen or damaged business property
\n\tA business owner's policy (BOP) helps pay for replacement of stolen business property. It also covers business property damaged by a fire or certain weather events. This policy combines general liability insurance with commercial property insurance at a discount. This bundle is ideal for low-risk businesses such as advertising agencies, churches and religious organizations, day spas, insurance agents, and more.
\n
\n\tSimilar to a BOP, a commercial package policy (CPP) also packages these coverages, but is generally purchased by high risk small and medium-sized businesses. With broad underwriting and customizable limits, a CPP allows business owners to address the specific risks they face with the right amount of coverage.
\n
\n\tEmployment practices liability insurance (EPLI) can cover lawsuit expenses related to employee claims of harassment, discrimination, and wrongful termination. Good candidates for EPLI coverage are retail, food services, manufacturing, and healthcare professions.
\n
\n\t- Vehicles used by a business
\n \tPersonal auto insurance policies almost always exclude business use. Most states require that vehicles owned by a business must be covered by commercial auto insurance. Some professions that should consider commercial auto insurance are: construction and installation, cleaning, and landscaping businesses.
\n
\n\tPersonal, leased, and rented vehicles used for work purposes can be covered by hired and non-owned auto insurance (HNOA), which you can add to a general liability policy.
\n
\n\t- Liquor liability
\n \tLiquor liability insurance covers legal fees from incidents involving people who became intoxicated at your business. That could include drunk driving, assault, and vandalism.
\n
\n\tThis policy is required for businesses that serve alcohol. You can purchase it as a standalone policy or add it to your general liability policy. A few industries in particular that should carry this coverage are restaurants, food trucks, convenience stores, and breweries.
\n
"}}},{"id":"0078de77-f796-45f7-b1bc-bd9f9c4c44f4","url":"/shared/policy-recommendation-tool-settings/recommended-policy-data/business-owners-policy","name":"Business Owners Policy","displayName":"Business Owners Policy","fields":{"policyIcon":{"value":{"src":"https://cleanttteam.com/-/media/insurance-policies/insurance-policy-icons/insurance-policy-icons-color/48px/insurance-policy-icons-purple/icon_policy_business-owners-policy.svg?h=48&iar=0&w=48&rev=16acf31a188b41c2897485ea8e860775","alt":"Business owner’s policy icon","width":"48","height":"48","title":"Business owner’s policy icon"}},"policyCode":{"value":"BOP"},"policyTitleText":{"value":"Business Owner's Policy (BOP)"},"policyModalTitle":{"value":"Business Owner's Policy"},"detailedPolicyDescription":{"value":"\t- Employee discrimination lawsuits
\n\t Employment practices liability insurance (EPLI) can cover lawsuit expenses related to claims of harassment, discrimination, and wrongful termination.
\n
\n\t- Vehicles used by a business
\n\t Commercial auto insurance provides coverage for business vehicles. It’s required in most states when your business owns the vehicle or you use it primarily for work.
\n
\n\t- Destroyed payment records
\n\t If a fire or other incident destroys your customer records, you could have trouble collecting outstanding payments. This is not a covered loss of commercial property insurance, unless your policy has an accounts receivable endorsement.
Commercial auto insurance covers legal bills, medical expenses, and property damage if a business vehicle is involved in an accident.
\n
\nWhy is commercial auto insurance important?
\nIf your company owns a car, you will very likely need commercial auto insurance. Nearly every state requires commercial auto insurance coverage for business-owned vehicles.
\n
\nNew Hampshire and Virginia are the only states where auto insurance isn’t required. However, drivers are still responsible for any damages they cause.
\n
\nYou can rely on commercial auto insurance for financial protection if you or an employee needs medical care or faces legal expenses due to an automobile accident. If you don’t carry commercial vehicle insurance, your business will be responsible for any medical bills and legal fees, which can get expensive.
\n
\nEven when business auto insurance coverage isn’t required, it’s still a smart choice. Without it, you could end up paying thousands of dollars in medical bills and other costs.
\n
\nBusinesses that purchase commercial auto insurance often:
\n\t- Have a vehicle titled to their business
\n\t- Drive to and from worksites
\n\t- Carry tools, equipment, or products used for work
\n\t- Transport clients or employees
\n\t- Rely on delivery drivers or couriers
\n
\nWhat does commercial auto insurance cover?
\nCommercial auto insurance helps cover medical payments and property damage related to an accident. This coverage includes legal expenses if you’re sued. A policy may also cover vehicle theft, vandalism, and other losses and damages.
\n
\nSpecifically, commercial auto insurance coverage includes:
\n
\n\t- Auto accident liability
\n\tCommercial auto insurance includes property damage liability coverage that helps pay for damages in an accident you caused. That could include:
\n
\n\t\t- Repair costs for the other person's damaged vehicle or property
\n\t\t- Legal expenses if you're sued over the other driver's injuries
\n
\n\t- Medical payments
\n\t Commercial auto insurance policies that include medical payments, or bodily injury liability, coverage can pay for:
\n
\n\t\t- Your medical expenses for bodily injuries from a car accident
\n\t\t- Medical expenses for passengers in your vehicle
\n
\n\tThis coverage is available regardless of who caused the accident.
\n
\n\t- Physical damage and collision
\n\tCommercial automobile insurance protects against vehicle theft and physical damage, as well as provides comprehensive coverage for non-collision damages, such as:
\n
\n\t\t- Vandalism
\n\t\t- Fire and certain weather events
\n\t\t- Impact with another object
\n
\n\t- Accidents involving uninsured motorists
\n\tAbout one in eight drivers in the United States are uninsured, according to the Insurance Research Council. When they cause accidents, they might not be able to pay for damages.
\n
\n\tYour policy's uninsured motorist coverage makes sure your business doesn’t have to pay for the resulting medical expenses or vehicle repairs.
\n
\nHow much does commercial auto insurance cost?
\nCommercial auto insurance costs an average of $147 per month. 37% of Insureon small business customers pay less than $100 per month for their policies.
\n
\nYour cost is calculated based on a number of factors, including:
\n
\n\t- Number of vehicles
\n\t- Type of vehicle and value
\n\t- Level of risk involved
\n\t- Claims history
\n\t- Employee driving records
\n\t- Policy deductible and limits
\n
\nWho needs commercial auto insurance?
\nCommercial auto insurance benefits a variety of industries that utilize business vehicles. It is designed for both businesses and independent contractors that need a company vehicle in order to operate their business.
\n
\nHowever, there are a few specific professions who need commercial auto coverage options more often than others, including:
\n
\n\t- Construction and installation
\n\t- Consulting
\n\t- Cleaning
\n\t- Landscaping
\n
\nWhat does commercial auto insurance not cover?
\n
\n\t- Personal or leased vehicles
\n\tCommercial auto insurance does not cover leased or personal vehicles used for business purposes. However, your business can still be held accountable if an employee gets into an accident in a personal or leased vehicle.
\n
\n\tHired and non-owned auto insurance is the appropriate policy for vehicles that your business uses but does not own. This policy will provide protection for employees who drive their own or leased cars for work purposes.
\n
\n\tIn addition, lease gap insurance is an endorsement you can add to your commercial auto policy that covers the total loss of a leased or financed vehicle. Another endorsement to consider is drive other car insurance, which covers non-owned vehicles that employees or executives may rent or borrow.
\n
\n\t- Recently purchased vehicles
\n\tIf you purchase a business vehicle and it's not yet covered by your commercial auto insurance policy, you would be responsible for any liabilities that may occur to the vehicle.
\n
\n\tIn order to protect any recently purchased business vehicles, you should get any auto liability insurance, which offers a temporary extension of your commercial auto coverage. It can also cover any hired and non-owned vehicles that you use for your business.
\n
\n\t- Customers' vehicles
\n\tIf your business is storing or performing service on a customer's vehicle, it would be not covered under your commercial auto insurance. If something were to happen to your customer's vehicle, such as damage from a break in, you would be responsible for repair and other related expenses.
\n
\n\tGarage keepers liability coverage would insure your customer automobiles while it is in your care, custody and control.
\n
\n\t- Garage business risks
\n\tIf you have a garage-based or auto service business, your commercial auto insurance policy does not protect against common garage operation risks, such as a customer slipping and falling on leaked motor oil.
\n
\n\tGarage liability insurance is a type of general liability insurance that covers the many risks associated with automotive business operations. This includes customer injuries and legal costs from lawsuits.
\n
"}}},{"id":"d251cbe1-fe3a-46b3-886c-41c3461e4a6b","url":"/shared/policy-recommendation-tool-settings/recommended-policy-data/commercial-umbrella","name":"Commercial Umbrella","displayName":"Commercial Umbrella","fields":{"policyIcon":{"value":{"src":"https://cleanttteam.com/-/media/insurance-policies/insurance-policy-icons/insurance-policy-icons-color/48px/policy-icon_umbrella-excess-liability--color-48.svg?h=48&iar=0&w=48&rev=7383603b77594d32af18d512132eb943","alt":"Umbrella / excess liability insurance icon","width":"48","height":"48","title":"Umbrella / excess liability insurance icon"}},"policyCode":{"value":"UB"},"policyTitleText":{"value":"Commercial Umbrella"},"policyModalTitle":{"value":"Commercial Umbrella Insurance"},"detailedPolicyDescription":{"value":"Once a policy’s limit is reached, commercial umbrella insurance provides additional coverage for liability claims made on general liability, commercial auto, or employer’s liability insurance.
\n
\nWhy is commercial umbrella insurance important?
\nBusiness owners who purchase commercial umbrella insurance usually need it to fulfill a contract that requests higher than standard policy limits.
\n
\nCommercial umbrella insurance offers extra liability coverage for the most expensive lawsuits. For example, if a covered lawsuit maxes out your general liability insurance policy but you still owe money for damages, business umbrella coverage can provide additional funds to make up the difference.
\n
\nUmbrella liability insurance can supplement your coverage provided by:
\n
\n\t- General liability insurance
\n\t- Employer's liability insurance (often included in workers' compensation)
\n\t- Commercial auto insurance or hired and non-owned auto (HNOA) insurance
\n
\nCommercial umbrella insurance can boost coverage for any (or all) of these policies in $1 million increments. Before you can purchase umbrella liability insurance, however, an insurer will require you to carry a certain amount of coverage for the underlying policy.
\n
\nBusinesses that buy umbrella insurance coverage:
\n\t- Have insurance but need to close the gap on requirements above $2 million
\n\t- Have high liability risks, such as a business location with a lot of foot traffic
\n\t- Need more liability protection across several policies
\n
\nWhat does commercial umbrella insurance cover?
\nCommercial umbrella insurance policies have the same terms and cover the same risks as the underlying business insurance policy.
\n
\nSpecifically, umbrella insurance can help provide additional coverage for the following:
\n
\n\t- Slip-and-fall injuries
\n\t When you add commercial umbrella insurance (or excess liability insurance) to your general liability insurance, it can cover your legal expenses if someone gets injured on your business property.
\n
\n\t- Third-party property damage
\n\t When you add commercial umbrella insurance to a general liability policy, it helps pay for legal bills related to destroyed or damaged third-party property.
\n
\n\t- Car accident liability
\n\t When you add commercial umbrella insurance to a commercial auto insurance or hired and non-owned auto insurance policy, it helps cover costs if someone sues for damages caused by your vehicle.
\n
\n\t- Employee injury lawsuits
\n\t When you add commercial umbrella insurance to employer's liability insurance (typically included in workers' compensation insurance), it helps pay for employee lawsuits over work injuries.
\n
\nHow much does commercial umbrella insurance cost?
\nFor Insureon customers, commercial umbrella insurance costs on average about $75 per month for each $1 million of additional coverage.
\n
\nSeveral factors affect umbrella policy costs, including:
\n
\n\t- Industry and risk
\n\t- Coverage limits
\n\t- Location
\n\t- Number of employees
\n\t- Number of vehicles
\n
\nHow does commercial umbrella insurance work?
\nThink of commercial umbrella insurance coverage as a safety net. Your other liability policies are your first line of defense. When you need an added layer of protection on a claim that exceeds the limits of your primary policy, your business umbrella insurance can pick up the slack.
\n
\nHere's when you need it
\nLet's say you have a commercial general liability policy with a $2 million per-occurrence limit, which means it can pay up to $2 million toward your legal expenses.
\n
\nIf a client suffers a serious injury after tripping and falling at your business, and decides to sue, the medical expenses, legal fees, and damages could add up to $2.5 million. After hitting your general liability limit, you would still have a $500,000 bill.
\n
\nHere's how it helps cover expenses
\nAn umbrella liability policy can help cover the expenses that exceed your underlying policy's limit. For the case above, a business umbrella policy would cover the additional $500,000.
\n
\nBasically, you can make a claim on umbrella insurance when each of the following occurs:
\n
\n\t- Your business is sued over third-party bodily injury or property damage.
\n\t- The cost of the lawsuit is more than the limit of the underlying coverage.
\n
\nWho needs a commercial umbrella policy?
\nCommercial umbrella insurance used to be a policy that only big businesses bought. These days, more small businesses invest in commercial umbrella insurance due to the rising cost of lawsuits and medical expenses.
\n
\nYou should consider an umbrella liability policy if:
\n\t- You want to sign a big client who requires more liability insurance
\n\t- You have lots of contact with the public
\n\t- Your business owns vehicles
\n\t- Your work is hazardous
\n
\nWhat does commercial umbrella insurance not cover?
\nWhile umbrella insurance does expand coverage limits for a number of policies, it does not provide all the protection that a small business might need.
\n
\nFor instance, an umbrella policy does not cover:
\n
\n\t- Damages within the underlying policy limits
\n\tUmbrella liability insurance does not become active until the underlying policy has reached its limits. And as with any policy, it does not provide coverage beyond its own policy limits.
\n
\n\t- Business property damage
\n\tBusiness umbrella insurance can only be added to liability policies, not property insurance.
\n
\n\tThe commercial property insurance portion of a business owner's policy (BOP) or commercial package policy (CPP) can help pay for repair or replacement when your business property is damaged by fire, theft, or covered weather-related events.
\n
\n\t- Professional errors
\n\tProfessional liability insurance, also called errors and omissions (E&O) insurance or malpractice insurance, can cover lawsuits over professional mistakes, including undelivered services and missed deadlines.
\n
\n\tYou can boost the limits on this policy with excess liability insurance, also called excess E&O, which is very similar to umbrella insurance.
\n
\n\t- Employee theft
\n\tCommercial crime insurance, a type of fidelity bond, is needed to financially protect your business from criminal acts committed by employees against customers or clients.
\n
\n\tUnlike insurance, bonds only reimburse damages up to the size of the coverage that was purchased. Umbrella insurance could not be used to provide coverage beyond that limit.
\n
"}}},{"id":"139dd472-83a8-466f-8529-a0417488fe02","url":"/shared/policy-recommendation-tool-settings/recommended-policy-data/cyber-insurance","name":"Cyber Insurance","displayName":"Cyber Insurance","fields":{"policyIcon":{"value":{"src":"https://cleanttteam.com/-/media/insurance-policies/insurance-policy-icons/insurance-policy-icons-color/48px/insurance-policy-icons-purple/icon_policy_cyber-liability.svg?h=48&iar=0&w=48&rev=2eb57c4d83c44dc7a2099cdd800670d0","alt":"Cyber liability icon","width":"48","height":"48","title":"Cyber liability icon"}},"policyCode":{"value":"CYB"},"policyTitleText":{"value":"Cyber Liability"},"policyModalTitle":{"value":"Cyber Liability Insurance"},"detailedPolicyDescription":{"value":"Cyber liability insurance, also called cybersecurity insurance, protects small businesses from the high costs of a data breach or malicious software attack. It covers expenses such as customer notification, credit monitoring, legal fees, and fines.
\n
\nWhy do small businesses need cyber insurance?
\nCyberattacks and data breaches are expensive and increasingly common. Small businesses often have weak cybersecurity and large vulnerabilities, which makes them an attractive target.
\n
\nA cyberattack isn't just an inconvenience – it can put you out of business. In fact, 60% of small businesses go under within six months of a cyberattack.
\n
\nCyber insurance coverage helps your business recover from financial losses caused by cyberattacks and data breaches. It can pay for credit monitoring, attorney's fees, fines, and other costly expenses.
\n
\nBusinesses that purchase cyber insurance typically handle:
\n\t- Credit card or bank account information
\n\t- Medical information
\n\t- Social Security numbers or driver's license numbers
\n\t- Customer names, email addresses, phone numbers, and addresses
\n\t- Cybersecurity for other businesses
\n
\nWhat does cyber liability insurance cover?
\nCybersecurity insurance covers costs associated with data breaches and cyberattacks, including the cost of recovering important data and hiring legal representation.
\n
\nThere are two types of cyber liability insurance coverage: first-party coverage and third-party coverage.
\n
\nMost businesses need first-party cyber liability insurance to defend against their own cyber risks, especially if they handle personally identifiable information (PII) for customers.
\n
\nCompanies that are responsible for their clients' cybersecurity would need third-party cyber liability insurance to provide legal protection from client lawsuits.
\n
\nWhat is first-party cyber liability insurance?
\nFirst-party cyber liability insurance, sometimes called data breach insurance, covers costs related to a data breach or cyberattack that directly impacts your business.
\n
\nYou can often add this coverage to your general liability insurance. It’s recommended for businesses that collect personal information, such as customer credit card numbers or email addresses.
\n
\nSpecifically, first-party cyber liability insurance can help cover:
\n
\n\t- Data breach response costs
\n\t State laws typically require a response when a business is impacted by a data breach. Cyber insurance helps cover costs associated with hiring a digital forensic expert to investigate the breach, customer notifications, consumer credit and fraud monitoring services, as well as Payment Card Industry (PCI) compliance fines.
\n
\n\t- Business interruption expenses
\n\t When a cyber incident brings necessary systems offline or otherwise grinds business to a halt, cyber insurance can help cover business interruption expenses, such as the cost of hiring additional staff or renting equipment. This includes purchasing third- party services, such as hiring a public relations manager or crisis management team.
\n
\n\t- Ransomware payments
\n\t If a hacker encrypts private information about your company or its employees and holds it for ransom, cyber liability insurance will help with payments to meet cyber extortion demands.
\n
\nWhat is third-party cyber insurance coverage?
\nThird-party cyber liability coverage helps pay for legal costs when a client sues your company for failing to prevent a data breach or cyberattack at their company. This insurance is recommended for technology businesses that make software recommendations to clients or are responsible for their network security.
\n
\nThird-party coverage can be bundled with your errors and omissions policy into what is known as technology errors and omissions insurance, or tech E&O.
\n
\nSpecifically, third-party cyber insurance can help cover:
\n
\n\t- Legal defense costs
\n\t If a client sues your business for failing to prevent a data breach at their business, cyber liability insurance could help cover attorney's fees and other legal costs for your defense in court.
\n
\n\t- Settlements
\n\t If your business faces a lawsuit from a client who experienced a data breach, you and the client could decide upon a settlement out of court that would amend the damages they experienced.
\n
\n\t- Court-ordered judgments
\n\t If a client accuses you of being responsible for a data breach at their business and sues your company, you may be legally obligated to pay for damages from any judgments in the lawsuit.
\n
\nHow to protect your business from cyberattacks
\nCyberattacks are expensive and can take a long time to resolve. A study by IBM and the Ponemon Institute put the average cost of a data breach at $3.86 million. The average time to identify and contain a breach was 280 days.
\n
\nA cyber liability insurance policy can help pay for:
\n
\n\t- Mandatory notification of affected parties
\n\t- Investigating and fixing security flaws
\n\t- Several years of credit monitoring services for affected customers
\n\t- Loss of business opportunities
\n\t- Complete our easy online insurance application to get free cyber liability insurance quotes that meet the needs of your small business.
\n
\nHow much does cyber liability insurance cost?
\nInsureon customers pay an average premium of $145 per month for cyber insurance. The cost of cyber liability insurance is based on several factors including:
\n
\n\t- Amount of sensitive data handled
\n\t- Your industry
\n\t- Coverage limits
\n\t- Number of employees
\n
\nAll of these factors will be instrumental in determining how much cyber liability insurance your small business needs.
\n
\nWho needs cyber insurance?
\nCyber liability insurance, sometimes called cybersecurity insurance, is a key policy for companies that operate in cybersecurity, work in a cloud environment, or handle sensitive customer information, such as credit card numbers.
\n
\nWhile any business can fall victim to a data breach or cyberattack, a few industries are particularly vulnerable, including:
\n
\n\t- IT professionals
\n\t- Retailers
\n\t- Healthcare organizations
\n\t- Financial service providers
\n
\nWhat does cyber liability insurance not cover?
\nWhile cyber insurance covers costs related to cyber threats, it does have a number of coverage exclusions. For example, it does not cover data loss caused by a power outage.
\n
\nOther exclusions from cyber liability insurance coverage include:
\n
\n\t- Mistakes and oversights
\n\tProfessional liability insurance, also called errors and omissions insurance, covers the costs of lawsuits over mistakes and oversights. This policy also covers legal costs related to professional negligence.
\n
\n\t- Data loss caused by accidental damage
\n\tWhile a cyber insurance policy covers data lost in a software attack, it does not insure data lost from accidental physical damage to a network or storage device.
\n
\n\tElectronic data liability coverage expands the property damage coverage in a business owner's policy (BOP) to include a loss of data caused by accidental damage to a customer’s computer, hard drive, or other data storage equipment.
\n
\n\t- Data loss from natural occurrences
\n\tIf you experience data loss during a power surge, fire, or natural disaster, you would need electronic data processing (EDP) insurance. You can typically bundle this coverage in a business owner's policy. It provides protection for data loss in your electronic data processing equipment, such as computers and backup systems.
As the Senior Copywriter at Insureon, Jess works closely with team members throughout Insureon to write and manage insightful, compelling content for policy pages, articles, blog posts, videos, and large-scale content requests.
\nPrior to Insureon, she worked for large tech distributor on a range of projects, from event materials to brand videos to lead-generation campaigns.
"},"educationSectionHeading":{"value":"Education"},"education":{"value":"Jess attended the Advertising Design program at Ringling College of Art and Design, where she earned her BFA, as well as a minor in the Business of Art + Design. During her time there, Jess was an active member in the on-campus advertising and graphic design club: Creative Suite.
\nShe was also inducted into the Alpha Delta Sigma Honor Society.
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\nThe information provided on this website does not constitute insurance advice. All content and materials are for general informational purposes only. Complete Insureon's online application and contact one of our licensed insurance professionals to obtain advice for your specific business insurance needs.
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"},"errorMessage":{"value":"Please type your profession to get your free quotes."},"escapeLinkHref":{"value":"tel:+18006881984"},"escapeLinkText":{"value":"Or call us at (800) 688-1984"},"mobilePlaceholder":{"value":"What kind of work do you do?"},"modalHeading":{"value":"What kind of work do you do?
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\nWhy is general liability insurance important?
\nGeneral liability insurance protects against the most common risks of running a business.
\n
\nThis business liability insurance coverage pays for legal costs if a customer trips and suffers an injury at your business, or if you accidentally damage someone's property. This policy also covers personal and advertising injuries, such as libel and copyright infringement.
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\nSmall business owners often need general liability insurance to fulfill requirements for a lease, loan, or contract. For example, a landlord might ask to see a certificate of insurance when you sign a commercial lease.
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\nGeneral liability coverage is a crucial component of risk management for small businesses, and it's affordable. The median premium is about $42 per month for Insureon customers.
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\nGeneral liability coverage is essential if your business:
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\nWhat does general liability insurance cover?
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\nThis business insurance policy covers legal defense costs if someone sues over a bodily injury, property damage, or advertising injury. Your policy can pay for everything from hiring a lawyer to court-ordered judgments and settlements.
\n
\nSpecifically, your commercial general liability (CGL) policy provides coverage for:
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\n\t- Third-party bodily injuries
\n\t If a customer is hurt in an accident at your business, general liability insurance can help pay for medical expenses. It also covers legal expenses if a customer sues over the injury.
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\n\t- Third-party property damage
\n\t A general liability insurance policy can cover expenses when your business accidentally damages or destroys another person’s property.
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\n\t- Product liability
\n\t Not all property damage or customer injuries happen inside a store. If a business manufactures, distributes, or sells products, it can be sued over the harm its products cause to people or property.
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\n\t Most commercial general liability (CGL) policies include product liability insurance. This type of coverage helps pay for lawsuits and other financial losses related to defective products, labeling errors that harm customers, and other product risks.
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\n\t- Personal injuries and advertising injuries
\n\t If someone sues a business owner or employee over slander, libel, false arrest, or copyright infringement, general liability insurance can help pay for legal defense costs and any resulting settlement or judgment.
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\nHow much does general liability insurance cost?
\nGeneral liability insurance premiums are calculated based on a few different factors, including:
\n
\n - Amount of coverage
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\n - Number of employees
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\nGeneral liability insurance typically costs an average of $42 per month. This is based on the average cost of a general liability insurance policy. 29% of Insureon’s small business customers pay less than $30 per month for their policies.
\n
\nWho needs general liability insurance?
\nMost companies need this insurance, especially if you rent or own an office or commercial space. Even if that doesn't apply to you, small businesses that work directly with clients and customers benefit from general liability insurance.
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\nThis insurance policy can keep your company financially stable if you’re sued by a customer or competitor. Because general liability insurance provides such important coverage, most small business owners buy the policy right after they start their business.
\n
\nWhat does general liability insurance not cover?
\nWhile general liability insurance is crucial for most small businesses, it does not provide all the protection you need. For instance, your policy does not include coverage for:
\n
\n\t- Professional errors
\n \t Professional liability insurance, also called errors and omissions insurance (E&O), can cover lawsuits over professional mistakes, including undelivered services and missed deadlines. This policy can apply to many professions, including: architects, consultants, interior designers, real estate professionals, tax preparers, and more.
\n
\n\t- Employee injuries
\n \t Workers' compensation insurance is the policy that covers medical expenses and disability benefits for employees who are injured on the job. It's required in most states for businesses that have employees. In most cases, labor-intensive businesses often purchase this policy, but it can be beneficial to accounting firms, computer repair professionals, house cleaners, photographers, and more.
\n
\n\t- Stolen or damaged business property
\n\tA business owner's policy (BOP) helps pay for replacement of stolen business property. It also covers business property damaged by a fire or certain weather events. This policy combines general liability insurance with commercial property insurance at a discount. This bundle is ideal for low-risk businesses such as advertising agencies, churches and religious organizations, day spas, insurance agents, and more.
\n
\n\tSimilar to a BOP, a commercial package policy (CPP) also packages these coverages, but is generally purchased by high risk small and medium-sized businesses. With broad underwriting and customizable limits, a CPP allows business owners to address the specific risks they face with the right amount of coverage.
\n
\n\tEmployment practices liability insurance (EPLI) can cover lawsuit expenses related to employee claims of harassment, discrimination, and wrongful termination. Good candidates for EPLI coverage are retail, food services, manufacturing, and healthcare professions.
\n
\n\t- Vehicles used by a business
\n \tPersonal auto insurance policies almost always exclude business use. Most states require that vehicles owned by a business must be covered by commercial auto insurance. Some professions that should consider commercial auto insurance are: construction and installation, cleaning, and landscaping businesses.
\n
\n\tPersonal, leased, and rented vehicles used for work purposes can be covered by hired and non-owned auto insurance (HNOA), which you can add to a general liability policy.
\n
\n\t- Liquor liability
\n \tLiquor liability insurance covers legal fees from incidents involving people who became intoxicated at your business. That could include drunk driving, assault, and vandalism.
\n
\n\tThis policy is required for businesses that serve alcohol. You can purchase it as a standalone policy or add it to your general liability policy. A few industries in particular that should carry this coverage are restaurants, food trucks, convenience stores, and breweries.
\n
"}}},{"id":"0078de77-f796-45f7-b1bc-bd9f9c4c44f4","url":"/shared/policy-recommendation-tool-settings/recommended-policy-data/business-owners-policy","name":"Business Owners Policy","displayName":"Business Owners Policy","fields":{"policyIcon":{"value":{"src":"https://cleanttteam.com/-/media/insurance-policies/insurance-policy-icons/insurance-policy-icons-color/48px/insurance-policy-icons-purple/icon_policy_business-owners-policy.svg?h=48&iar=0&w=48&rev=16acf31a188b41c2897485ea8e860775","alt":"Business owner’s policy icon","width":"48","height":"48","title":"Business owner’s policy icon"}},"policyCode":{"value":"BOP"},"policyTitleText":{"value":"Business Owner's Policy (BOP)"},"policyModalTitle":{"value":"Business Owner's Policy"},"detailedPolicyDescription":{"value":"\t- Employee discrimination lawsuits
\n\t Employment practices liability insurance (EPLI) can cover lawsuit expenses related to claims of harassment, discrimination, and wrongful termination.
\n
\n\t- Vehicles used by a business
\n\t Commercial auto insurance provides coverage for business vehicles. It’s required in most states when your business owns the vehicle or you use it primarily for work.
\n
\n\t- Destroyed payment records
\n\t If a fire or other incident destroys your customer records, you could have trouble collecting outstanding payments. This is not a covered loss of commercial property insurance, unless your policy has an accounts receivable endorsement.
Commercial auto insurance covers legal bills, medical expenses, and property damage if a business vehicle is involved in an accident.
\n
\nWhy is commercial auto insurance important?
\nIf your company owns a car, you will very likely need commercial auto insurance. Nearly every state requires commercial auto insurance coverage for business-owned vehicles.
\n
\nNew Hampshire and Virginia are the only states where auto insurance isn’t required. However, drivers are still responsible for any damages they cause.
\n
\nYou can rely on commercial auto insurance for financial protection if you or an employee needs medical care or faces legal expenses due to an automobile accident. If you don’t carry commercial vehicle insurance, your business will be responsible for any medical bills and legal fees, which can get expensive.
\n
\nEven when business auto insurance coverage isn’t required, it’s still a smart choice. Without it, you could end up paying thousands of dollars in medical bills and other costs.
\n
\nBusinesses that purchase commercial auto insurance often:
\n\t- Have a vehicle titled to their business
\n\t- Drive to and from worksites
\n\t- Carry tools, equipment, or products used for work
\n\t- Transport clients or employees
\n\t- Rely on delivery drivers or couriers
\n
\nWhat does commercial auto insurance cover?
\nCommercial auto insurance helps cover medical payments and property damage related to an accident. This coverage includes legal expenses if you’re sued. A policy may also cover vehicle theft, vandalism, and other losses and damages.
\n
\nSpecifically, commercial auto insurance coverage includes:
\n
\n\t- Auto accident liability
\n\tCommercial auto insurance includes property damage liability coverage that helps pay for damages in an accident you caused. That could include:
\n
\n\t\t- Repair costs for the other person's damaged vehicle or property
\n\t\t- Legal expenses if you're sued over the other driver's injuries
\n
\n\t- Medical payments
\n\t Commercial auto insurance policies that include medical payments, or bodily injury liability, coverage can pay for:
\n
\n\t\t- Your medical expenses for bodily injuries from a car accident
\n\t\t- Medical expenses for passengers in your vehicle
\n
\n\tThis coverage is available regardless of who caused the accident.
\n
\n\t- Physical damage and collision
\n\tCommercial automobile insurance protects against vehicle theft and physical damage, as well as provides comprehensive coverage for non-collision damages, such as:
\n
\n\t\t- Vandalism
\n\t\t- Fire and certain weather events
\n\t\t- Impact with another object
\n
\n\t- Accidents involving uninsured motorists
\n\tAbout one in eight drivers in the United States are uninsured, according to the Insurance Research Council. When they cause accidents, they might not be able to pay for damages.
\n
\n\tYour policy's uninsured motorist coverage makes sure your business doesn’t have to pay for the resulting medical expenses or vehicle repairs.
\n
\nHow much does commercial auto insurance cost?
\nCommercial auto insurance costs an average of $147 per month. 37% of Insureon small business customers pay less than $100 per month for their policies.
\n
\nYour cost is calculated based on a number of factors, including:
\n
\n\t- Number of vehicles
\n\t- Type of vehicle and value
\n\t- Level of risk involved
\n\t- Claims history
\n\t- Employee driving records
\n\t- Policy deductible and limits
\n
\nWho needs commercial auto insurance?
\nCommercial auto insurance benefits a variety of industries that utilize business vehicles. It is designed for both businesses and independent contractors that need a company vehicle in order to operate their business.
\n
\nHowever, there are a few specific professions who need commercial auto coverage options more often than others, including:
\n
\n\t- Construction and installation
\n\t- Consulting
\n\t- Cleaning
\n\t- Landscaping
\n
\nWhat does commercial auto insurance not cover?
\n
\n\t- Personal or leased vehicles
\n\tCommercial auto insurance does not cover leased or personal vehicles used for business purposes. However, your business can still be held accountable if an employee gets into an accident in a personal or leased vehicle.
\n
\n\tHired and non-owned auto insurance is the appropriate policy for vehicles that your business uses but does not own. This policy will provide protection for employees who drive their own or leased cars for work purposes.
\n
\n\tIn addition, lease gap insurance is an endorsement you can add to your commercial auto policy that covers the total loss of a leased or financed vehicle. Another endorsement to consider is drive other car insurance, which covers non-owned vehicles that employees or executives may rent or borrow.
\n
\n\t- Recently purchased vehicles
\n\tIf you purchase a business vehicle and it's not yet covered by your commercial auto insurance policy, you would be responsible for any liabilities that may occur to the vehicle.
\n
\n\tIn order to protect any recently purchased business vehicles, you should get any auto liability insurance, which offers a temporary extension of your commercial auto coverage. It can also cover any hired and non-owned vehicles that you use for your business.
\n
\n\t- Customers' vehicles
\n\tIf your business is storing or performing service on a customer's vehicle, it would be not covered under your commercial auto insurance. If something were to happen to your customer's vehicle, such as damage from a break in, you would be responsible for repair and other related expenses.
\n
\n\tGarage keepers liability coverage would insure your customer automobiles while it is in your care, custody and control.
\n
\n\t- Garage business risks
\n\tIf you have a garage-based or auto service business, your commercial auto insurance policy does not protect against common garage operation risks, such as a customer slipping and falling on leaked motor oil.
\n
\n\tGarage liability insurance is a type of general liability insurance that covers the many risks associated with automotive business operations. This includes customer injuries and legal costs from lawsuits.
\n
"}}},{"id":"d251cbe1-fe3a-46b3-886c-41c3461e4a6b","url":"/shared/policy-recommendation-tool-settings/recommended-policy-data/commercial-umbrella","name":"Commercial Umbrella","displayName":"Commercial Umbrella","fields":{"policyIcon":{"value":{"src":"https://cleanttteam.com/-/media/insurance-policies/insurance-policy-icons/insurance-policy-icons-color/48px/policy-icon_umbrella-excess-liability--color-48.svg?h=48&iar=0&w=48&rev=7383603b77594d32af18d512132eb943","alt":"Umbrella / excess liability insurance icon","width":"48","height":"48","title":"Umbrella / excess liability insurance icon"}},"policyCode":{"value":"UB"},"policyTitleText":{"value":"Commercial Umbrella"},"policyModalTitle":{"value":"Commercial Umbrella Insurance"},"detailedPolicyDescription":{"value":"Once a policy’s limit is reached, commercial umbrella insurance provides additional coverage for liability claims made on general liability, commercial auto, or employer’s liability insurance.
\n
\nWhy is commercial umbrella insurance important?
\nBusiness owners who purchase commercial umbrella insurance usually need it to fulfill a contract that requests higher than standard policy limits.
\n
\nCommercial umbrella insurance offers extra liability coverage for the most expensive lawsuits. For example, if a covered lawsuit maxes out your general liability insurance policy but you still owe money for damages, business umbrella coverage can provide additional funds to make up the difference.
\n
\nUmbrella liability insurance can supplement your coverage provided by:
\n
\n\t- General liability insurance
\n\t- Employer's liability insurance (often included in workers' compensation)
\n\t- Commercial auto insurance or hired and non-owned auto (HNOA) insurance
\n
\nCommercial umbrella insurance can boost coverage for any (or all) of these policies in $1 million increments. Before you can purchase umbrella liability insurance, however, an insurer will require you to carry a certain amount of coverage for the underlying policy.
\n
\nBusinesses that buy umbrella insurance coverage:
\n\t- Have insurance but need to close the gap on requirements above $2 million
\n\t- Have high liability risks, such as a business location with a lot of foot traffic
\n\t- Need more liability protection across several policies
\n
\nWhat does commercial umbrella insurance cover?
\nCommercial umbrella insurance policies have the same terms and cover the same risks as the underlying business insurance policy.
\n
\nSpecifically, umbrella insurance can help provide additional coverage for the following:
\n
\n\t- Slip-and-fall injuries
\n\t When you add commercial umbrella insurance (or excess liability insurance) to your general liability insurance, it can cover your legal expenses if someone gets injured on your business property.
\n
\n\t- Third-party property damage
\n\t When you add commercial umbrella insurance to a general liability policy, it helps pay for legal bills related to destroyed or damaged third-party property.
\n
\n\t- Car accident liability
\n\t When you add commercial umbrella insurance to a commercial auto insurance or hired and non-owned auto insurance policy, it helps cover costs if someone sues for damages caused by your vehicle.
\n
\n\t- Employee injury lawsuits
\n\t When you add commercial umbrella insurance to employer's liability insurance (typically included in workers' compensation insurance), it helps pay for employee lawsuits over work injuries.
\n
\nHow much does commercial umbrella insurance cost?
\nFor Insureon customers, commercial umbrella insurance costs on average about $75 per month for each $1 million of additional coverage.
\n
\nSeveral factors affect umbrella policy costs, including:
\n
\n\t- Industry and risk
\n\t- Coverage limits
\n\t- Location
\n\t- Number of employees
\n\t- Number of vehicles
\n
\nHow does commercial umbrella insurance work?
\nThink of commercial umbrella insurance coverage as a safety net. Your other liability policies are your first line of defense. When you need an added layer of protection on a claim that exceeds the limits of your primary policy, your business umbrella insurance can pick up the slack.
\n
\nHere's when you need it
\nLet's say you have a commercial general liability policy with a $2 million per-occurrence limit, which means it can pay up to $2 million toward your legal expenses.
\n
\nIf a client suffers a serious injury after tripping and falling at your business, and decides to sue, the medical expenses, legal fees, and damages could add up to $2.5 million. After hitting your general liability limit, you would still have a $500,000 bill.
\n
\nHere's how it helps cover expenses
\nAn umbrella liability policy can help cover the expenses that exceed your underlying policy's limit. For the case above, a business umbrella policy would cover the additional $500,000.
\n
\nBasically, you can make a claim on umbrella insurance when each of the following occurs:
\n
\n\t- Your business is sued over third-party bodily injury or property damage.
\n\t- The cost of the lawsuit is more than the limit of the underlying coverage.
\n
\nWho needs a commercial umbrella policy?
\nCommercial umbrella insurance used to be a policy that only big businesses bought. These days, more small businesses invest in commercial umbrella insurance due to the rising cost of lawsuits and medical expenses.
\n
\nYou should consider an umbrella liability policy if:
\n\t- You want to sign a big client who requires more liability insurance
\n\t- You have lots of contact with the public
\n\t- Your business owns vehicles
\n\t- Your work is hazardous
\n
\nWhat does commercial umbrella insurance not cover?
\nWhile umbrella insurance does expand coverage limits for a number of policies, it does not provide all the protection that a small business might need.
\n
\nFor instance, an umbrella policy does not cover:
\n
\n\t- Damages within the underlying policy limits
\n\tUmbrella liability insurance does not become active until the underlying policy has reached its limits. And as with any policy, it does not provide coverage beyond its own policy limits.
\n
\n\t- Business property damage
\n\tBusiness umbrella insurance can only be added to liability policies, not property insurance.
\n
\n\tThe commercial property insurance portion of a business owner's policy (BOP) or commercial package policy (CPP) can help pay for repair or replacement when your business property is damaged by fire, theft, or covered weather-related events.
\n
\n\t- Professional errors
\n\tProfessional liability insurance, also called errors and omissions (E&O) insurance or malpractice insurance, can cover lawsuits over professional mistakes, including undelivered services and missed deadlines.
\n
\n\tYou can boost the limits on this policy with excess liability insurance, also called excess E&O, which is very similar to umbrella insurance.
\n
\n\t- Employee theft
\n\tCommercial crime insurance, a type of fidelity bond, is needed to financially protect your business from criminal acts committed by employees against customers or clients.
\n
\n\tUnlike insurance, bonds only reimburse damages up to the size of the coverage that was purchased. Umbrella insurance could not be used to provide coverage beyond that limit.
\n
"}}},{"id":"139dd472-83a8-466f-8529-a0417488fe02","url":"/shared/policy-recommendation-tool-settings/recommended-policy-data/cyber-insurance","name":"Cyber Insurance","displayName":"Cyber Insurance","fields":{"policyIcon":{"value":{"src":"https://cleanttteam.com/-/media/insurance-policies/insurance-policy-icons/insurance-policy-icons-color/48px/insurance-policy-icons-purple/icon_policy_cyber-liability.svg?h=48&iar=0&w=48&rev=2eb57c4d83c44dc7a2099cdd800670d0","alt":"Cyber liability icon","width":"48","height":"48","title":"Cyber liability icon"}},"policyCode":{"value":"CYB"},"policyTitleText":{"value":"Cyber Liability"},"policyModalTitle":{"value":"Cyber Liability Insurance"},"detailedPolicyDescription":{"value":"Cyber liability insurance, also called cybersecurity insurance, protects small businesses from the high costs of a data breach or malicious software attack. It covers expenses such as customer notification, credit monitoring, legal fees, and fines.
\n
\nWhy do small businesses need cyber insurance?
\nCyberattacks and data breaches are expensive and increasingly common. Small businesses often have weak cybersecurity and large vulnerabilities, which makes them an attractive target.
\n
\nA cyberattack isn't just an inconvenience – it can put you out of business. In fact, 60% of small businesses go under within six months of a cyberattack.
\n
\nCyber insurance coverage helps your business recover from financial losses caused by cyberattacks and data breaches. It can pay for credit monitoring, attorney's fees, fines, and other costly expenses.
\n
\nBusinesses that purchase cyber insurance typically handle:
\n\t- Credit card or bank account information
\n\t- Medical information
\n\t- Social Security numbers or driver's license numbers
\n\t- Customer names, email addresses, phone numbers, and addresses
\n\t- Cybersecurity for other businesses
\n
\nWhat does cyber liability insurance cover?
\nCybersecurity insurance covers costs associated with data breaches and cyberattacks, including the cost of recovering important data and hiring legal representation.
\n
\nThere are two types of cyber liability insurance coverage: first-party coverage and third-party coverage.
\n
\nMost businesses need first-party cyber liability insurance to defend against their own cyber risks, especially if they handle personally identifiable information (PII) for customers.
\n
\nCompanies that are responsible for their clients' cybersecurity would need third-party cyber liability insurance to provide legal protection from client lawsuits.
\n
\nWhat is first-party cyber liability insurance?
\nFirst-party cyber liability insurance, sometimes called data breach insurance, covers costs related to a data breach or cyberattack that directly impacts your business.
\n
\nYou can often add this coverage to your general liability insurance. It’s recommended for businesses that collect personal information, such as customer credit card numbers or email addresses.
\n
\nSpecifically, first-party cyber liability insurance can help cover:
\n
\n\t- Data breach response costs
\n\t State laws typically require a response when a business is impacted by a data breach. Cyber insurance helps cover costs associated with hiring a digital forensic expert to investigate the breach, customer notifications, consumer credit and fraud monitoring services, as well as Payment Card Industry (PCI) compliance fines.
\n
\n\t- Business interruption expenses
\n\t When a cyber incident brings necessary systems offline or otherwise grinds business to a halt, cyber insurance can help cover business interruption expenses, such as the cost of hiring additional staff or renting equipment. This includes purchasing third- party services, such as hiring a public relations manager or crisis management team.
\n
\n\t- Ransomware payments
\n\t If a hacker encrypts private information about your company or its employees and holds it for ransom, cyber liability insurance will help with payments to meet cyber extortion demands.
\n
\nWhat is third-party cyber insurance coverage?
\nThird-party cyber liability coverage helps pay for legal costs when a client sues your company for failing to prevent a data breach or cyberattack at their company. This insurance is recommended for technology businesses that make software recommendations to clients or are responsible for their network security.
\n
\nThird-party coverage can be bundled with your errors and omissions policy into what is known as technology errors and omissions insurance, or tech E&O.
\n
\nSpecifically, third-party cyber insurance can help cover:
\n
\n\t- Legal defense costs
\n\t If a client sues your business for failing to prevent a data breach at their business, cyber liability insurance could help cover attorney's fees and other legal costs for your defense in court.
\n
\n\t- Settlements
\n\t If your business faces a lawsuit from a client who experienced a data breach, you and the client could decide upon a settlement out of court that would amend the damages they experienced.
\n
\n\t- Court-ordered judgments
\n\t If a client accuses you of being responsible for a data breach at their business and sues your company, you may be legally obligated to pay for damages from any judgments in the lawsuit.
\n
\nHow to protect your business from cyberattacks
\nCyberattacks are expensive and can take a long time to resolve. A study by IBM and the Ponemon Institute put the average cost of a data breach at $3.86 million. The average time to identify and contain a breach was 280 days.
\n
\nA cyber liability insurance policy can help pay for:
\n
\n\t- Mandatory notification of affected parties
\n\t- Investigating and fixing security flaws
\n\t- Several years of credit monitoring services for affected customers
\n\t- Loss of business opportunities
\n\t- Complete our easy online insurance application to get free cyber liability insurance quotes that meet the needs of your small business.
\n
\nHow much does cyber liability insurance cost?
\nInsureon customers pay an average premium of $145 per month for cyber insurance. The cost of cyber liability insurance is based on several factors including:
\n
\n\t- Amount of sensitive data handled
\n\t- Your industry
\n\t- Coverage limits
\n\t- Number of employees
\n
\nAll of these factors will be instrumental in determining how much cyber liability insurance your small business needs.
\n
\nWho needs cyber insurance?
\nCyber liability insurance, sometimes called cybersecurity insurance, is a key policy for companies that operate in cybersecurity, work in a cloud environment, or handle sensitive customer information, such as credit card numbers.
\n
\nWhile any business can fall victim to a data breach or cyberattack, a few industries are particularly vulnerable, including:
\n
\n\t- IT professionals
\n\t- Retailers
\n\t- Healthcare organizations
\n\t- Financial service providers
\n
\nWhat does cyber liability insurance not cover?
\nWhile cyber insurance covers costs related to cyber threats, it does have a number of coverage exclusions. For example, it does not cover data loss caused by a power outage.
\n
\nOther exclusions from cyber liability insurance coverage include:
\n
\n\t- Mistakes and oversights
\n\tProfessional liability insurance, also called errors and omissions insurance, covers the costs of lawsuits over mistakes and oversights. This policy also covers legal costs related to professional negligence.
\n
\n\t- Data loss caused by accidental damage
\n\tWhile a cyber insurance policy covers data lost in a software attack, it does not insure data lost from accidental physical damage to a network or storage device.
\n
\n\tElectronic data liability coverage expands the property damage coverage in a business owner's policy (BOP) to include a loss of data caused by accidental damage to a customer’s computer, hard drive, or other data storage equipment.
\n
\n\t- Data loss from natural occurrences
\n\tIf you experience data loss during a power surge, fire, or natural disaster, you would need electronic data processing (EDP) insurance. You can typically bundle this coverage in a business owner's policy. It provides protection for data loss in your electronic data processing equipment, such as computers and backup systems.
Across the nation, states are requiring engineers to be licensed before they can perform work as a professional engineer.
\nAlthough there are different professional engineer licensing requirements in each state, most require a certain amount of education and experience as an engineer intern in order for applicants to receive their professional engineer (PE) license.
\nOnce they receive their license, professional engineers obtain insurance coverage to help keep their business protected from various liabilities and risks. In some cases, specific insurance policies are required.
\nIn this article, we will examine the required steps you will need to take to become a licensed professional engineer, as well as the types of insurance coverage that you’ll need once you start working.
"},"enableSpacing":{"value":false}}},{"uid":"bc92a681-facf-4285-ab36-337654c9551d","componentName":"Heading","dataSource":"{F9441616-F539-4C9D-8C2C-42378263CA6C}","params":{},"fields":{"descriptor":{"value":""},"tag":{"id":"08eb6160-7d2c-512c-98ff-626090c9fc87","url":"/shared/heading/h2","name":"h2","displayName":"H2","fields":{"tag":{"value":"h2"}}},"title":{"value":"When do you need a professional engineer license?"},"tocTitle":{"value":""}}},{"uid":"03d8ca16-9474-45a0-a26d-4a004ff98a6c","componentName":"Bodytext","dataSource":"{CFA73FDD-040A-4CFD-BDAF-E6CDE0163B18}","params":{},"fields":{"body":{"value":"A professional engineer license is a legal requirement in all 50 states for engineers before they can practice or solicit business.
\nState license requirements are especially growing in government roles. In addition, many states are requiring individuals who teach engineering to be licensed, as well.
\nA professional engineer license demonstrates your credibility and competency to be placed in responsible charge of engineering work.
"},"enableSpacing":{"value":false}}},{"uid":"2bec0a4b-758a-4c27-886f-54ae8800bcc5","componentName":"In-content","dataSource":"{12BFFE16-999D-4B2E-9C85-A3C334C309E8}","params":{},"fields":{"button":{"value":"Get Quotes"},"heading":{"value":"Find insurance quotes for your engineering business"},"title":{"value":""},"openCalendly":{"value":false},"direction":{"value":"ltr"},"ctaImage":{"value":{"src":"https://cleanttteam.com/-/media/industry-and-professions/imagery/building-design/engineers/image_engineers.png?h=300&iar=0&w=456&rev=8ea898e8f6e54c6c89c54d57f77a170f","alt":"Engineer inspecting a building structure.","width":"456","height":"300","title":"Engineer inspecting a building structure."}},"href":{"value":""},"text":{"value":"Learn more"},"newWindow":{"value":false}}},{"uid":"70a333c1-fb96-45d9-9f2f-963841d7b147","componentName":"Heading","dataSource":"{4547D813-C73A-41AE-9B7B-6952FF76F373}","params":{},"fields":{"descriptor":{"value":""},"tag":{"id":"08eb6160-7d2c-512c-98ff-626090c9fc87","url":"/shared/heading/h2","name":"h2","displayName":"H2","fields":{"tag":{"value":"h2"}}},"title":{"value":"How do you get a professional engineer license?"},"tocTitle":{"value":""}}},{"uid":"45201a1d-3186-4279-aec9-97e26e20b017","componentName":"Blog-Content","dataSource":"{E5924795-A1F3-478C-BF2D-45C0AC33CE21}","params":{},"fields":{"content":{"value":"While licensure requirements vary by state, there are some general requirements that most licensing professional engineer programs follow.
\nThe path to obtaining a professional engineer’s license typically requires:
\nThe FE exam is a 110-question exam that must be completed within six hours. It tests an examinee’s knowledge of basic engineering technology and principles, and is offered in seven different disciplines, such as Chemical, Mechanical, and Civil engineering. Most applicants take this exam during the senior year of their bachelor’s program or shortly after graduation.
\nThe National Council of Examiners for Engineering and Surveying (NCEES) administers the Fundamentals of Engineering exam and requires a $225 exam fee. Free study guides and resources are available on the NCEES website.
\nThe NCEES Principles exam is designed to be taken after completing four years of professional engineering experience, under the direction of a professional engineer. This exam tests an applicant’s knowledge and skills in a specific engineering discipline and engineering ethics.
\nContinuing education requirements include professional engineer license renewals on an annual or biennial basis.
"},"enableSpacing":{"value":true}}},{"uid":"5f3f25c8-2ea1-4836-917f-7a4582fc1527","componentName":"Heading","dataSource":"{8B556230-6944-448A-9DFB-F9D4F131EBE5}","params":{},"fields":{"descriptor":{"value":""},"tag":{"id":"08eb6160-7d2c-512c-98ff-626090c9fc87","url":"/shared/heading/h2","name":"h2","displayName":"H2","fields":{"tag":{"value":"h2"}}},"title":{"value":"What kind of professional engineer licensing and certification requirements are there?"},"tocTitle":{"value":""}}},{"uid":"93b58f71-f786-47bc-8c94-fc3301a3de15","componentName":"Blog-Content","dataSource":"{B731F27B-E544-4BC1-A1BB-14A9129155E5}","params":{},"fields":{"content":{"value":"The licensing requirements for a professional engineer license vary state by state. However, most states typically require certain levels of educational and professional experience.
\nEach state has its own unique application process and licensing requirements, such as:
"},"enableSpacing":{"value":false}}},{"uid":"3ba78c95-72dd-4b35-90fa-c80fe8f95a46","componentName":"Heading","dataSource":"{6EBAB761-E949-49DF-957B-320DC6BC3DB1}","params":{},"fields":{"descriptor":{"value":""},"tag":{"id":"a7b777f8-7bd8-5657-b546-b875380d0765","url":"/shared/heading/h3","name":"h3","displayName":"H3","fields":{"tag":{"value":"h3"}}},"title":{"value":"California"},"tocTitle":{"value":""}}},{"uid":"00087c3b-c595-4143-ac95-f372ab598f39","componentName":"Blog-Content","dataSource":"{11DAA93C-745C-4ED9-A02F-AA52B7345382}","params":{},"fields":{"content":{"value":"In California, the first step to obtaining your professional engineer degree is to get an Engineer-In-Training (EIT) certification.
\nEIT certificate applicants must have previously passed the NCEES FE exam, as well as have any of the following requirements:
\nAfter passing the competency exam, applicants can submit an application for their EIT certificate through BPELSG Connect. A $175 application fee and a full set of fingerprints are required with submission of the application.
\nUpon licensure, first-time licensees will receive a renewal notice. Once renewed, the license is valid for an additional two years. You're eligible to renew your license through BPELSG Connect if your license expires within the next 60 days.
"},"enableSpacing":{"value":true}}},{"uid":"c48968fa-ac53-4fdb-a5b9-ebf30f6b7af9","componentName":"Heading","dataSource":"{67B48AFC-7D1D-4EA2-A9DA-2C95AE0AA7BB}","params":{},"fields":{"descriptor":{"value":""},"tag":{"id":"a7b777f8-7bd8-5657-b546-b875380d0765","url":"/shared/heading/h3","name":"h3","displayName":"H3","fields":{"tag":{"value":"h3"}}},"title":{"value":"Ohio"},"tocTitle":{"value":""}}},{"uid":"16086b70-7afe-4320-87d8-7a2c11e87315","componentName":"Blog-Content","dataSource":"{1C709179-8B0B-419F-A1A6-CF773AFA0AC9}","params":{},"fields":{"content":{"value":"In order to apply for a PE license in Ohio, applicants must show proof of completion of:
\nThe Ohio state board recently made changes to the PE and FE registration process:
\nThe application fee is $75. Renewal fees begin at $40.
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\nApplicants should submit their license application and other required forms, along with a $377 application fee, to Office of the Professions at the address specified on each form. It's also important to note New York State doesn't have a reciprocity/comity agreement.
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\nTexas doesn't have a reciprocity/comity program, however an engineer licensed in another state can submit a new application with their NCEES record to the licensing board in lieu of other required records and references. The application fee for Texas is $75.
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\nEven if specific policies are not required, it is a good idea to obtain insurance coverage to protect you and your company from liabilities and risks. Not only will this provide peace of mind, but it will help you save money in the long run.
\nThe recommended insurance options for professional engineers are as follows:
"},"enableSpacing":{"value":false}}},{"uid":"7ffee40e-d873-481c-af94-214134ce5bc1","componentName":"Heading","dataSource":"{8AE7EA0C-DAA7-40AC-A3CB-17891E1AD32A}","params":{},"fields":{"descriptor":{"value":""},"tag":{"id":"a7b777f8-7bd8-5657-b546-b875380d0765","url":"/shared/heading/h3","name":"h3","displayName":"H3","fields":{"tag":{"value":"h3"}}},"title":{"value":"General liability insurance"},"tocTitle":{"value":""}}},{"uid":"dc527423-f10b-451d-9c5b-f2ce110c02af","componentName":"Blog-Content","dataSource":"{061F3E39-C080-4D67-A5FC-7CF2A2CED4F4}","params":{},"fields":{"content":{"value":"General liability insurance is typically the first type of business insurance that small business owners purchase. It covers third-party risks, such as someone suing you after a slip and fall accident at your business. It is often required for a commercial lease.
"},"enableSpacing":{"value":false}}},{"uid":"2fd3c653-c2bb-433b-adea-cd92f619aaca","componentName":"Heading","dataSource":"{F60F3FD2-188D-45D4-8B36-F2DFE33D43EB}","params":{},"fields":{"descriptor":{"value":""},"tag":{"id":"a7b777f8-7bd8-5657-b546-b875380d0765","url":"/shared/heading/h3","name":"h3","displayName":"H3","fields":{"tag":{"value":"h3"}}},"title":{"value":"Commercial property insurance"},"tocTitle":{"value":""}}},{"uid":"da151c03-3ee2-4afa-838f-3ca4725119b0","componentName":"Blog-Content","dataSource":"{34A5797F-96CE-43EF-B957-57D3CE3510E9}","params":{},"fields":{"content":{"value":"Commercial property insurance covers your engineering physical location and equipment in case it’s damaged or stolen.
"},"enableSpacing":{"value":false}}},{"uid":"9e759fe5-4052-44a6-8947-ab2a583f5752","componentName":"Heading","dataSource":"{F0F127E3-B186-4CA8-BC0C-1662DE4FF420}","params":{},"fields":{"descriptor":{"value":""},"tag":{"id":"a7b777f8-7bd8-5657-b546-b875380d0765","url":"/shared/heading/h3","name":"h3","displayName":"H3","fields":{"tag":{"value":"h3"}}},"title":{"value":"Business owner’s policy (BOP)"},"tocTitle":{"value":""}}},{"uid":"cf201f0b-ca2b-4c1c-a80c-b4bf9cb15b1e","componentName":"Blog-Content","dataSource":"{A69C33F5-357C-418B-804E-5FBDE71E146D}","params":{},"fields":{"content":{"value":"A business owner’s policy (BOP) bundles your general liability and commercial property insurance into one policy and is usually less expensive than buying these coverages separately.
"},"enableSpacing":{"value":false}}},{"uid":"3662edad-d02c-49ec-b63b-ffbb33d29f86","componentName":"Heading","dataSource":"{8C8BD8C7-CB32-4319-A9EE-BDA0BC10AAEC}","params":{},"fields":{"descriptor":{"value":""},"tag":{"id":"a7b777f8-7bd8-5657-b546-b875380d0765","url":"/shared/heading/h3","name":"h3","displayName":"H3","fields":{"tag":{"value":"h3"}}},"title":{"value":"Professional liability insurance"},"tocTitle":{"value":""}}},{"uid":"d1617c83-60dc-48db-a450-b1289f6de145","componentName":"Blog-Content","dataSource":"{F3AB6DCE-F81B-4EE9-A655-C3DA5F5B2A74}","params":{},"fields":{"content":{"value":"Professional liability insurance, also known as errors and omissions insurance (E&O), insures you against lawsuits related to the quality of your work, such as a project delay that costs a client money.
"},"enableSpacing":{"value":false}}},{"uid":"0177d875-8bb4-44b1-9620-a990f51b777e","componentName":"Heading","dataSource":"{504674DF-9EF7-4F4E-98B7-36A28C3E588E}","params":{},"fields":{"descriptor":{"value":""},"tag":{"id":"a7b777f8-7bd8-5657-b546-b875380d0765","url":"/shared/heading/h3","name":"h3","displayName":"H3","fields":{"tag":{"value":"h3"}}},"title":{"value":"Workers’ compensation insurance"},"tocTitle":{"value":""}}},{"uid":"ff8d6cf6-a179-4c9f-9d66-f774f3d6973e","componentName":"Blog-Content","dataSource":"{FDBC491F-B1E6-4BE1-BA28-35D679B37BD3}","params":{},"fields":{"content":{"value":"Workers’ comp insurance is required in almost every state for engineering businesses that have employees. This policy covers medical expenses in case you or your employee experience a work-related injury. It will also provide part of your lost wages while you’re out of work due to on-the-job injuries.
\nMany sole proprietors also buy this coverage, as it protects against work-related injuries and illnesses that likely wouldn’t be covered by your personal health insurance.
"},"enableSpacing":{"value":false}}},{"uid":"77aa797e-fbd2-40d3-8b0c-920e80c61687","componentName":"Heading","dataSource":"{55F1ED60-8EE0-40FE-8491-B6E9351CC09E}","params":{},"fields":{"descriptor":{"value":""},"tag":{"id":"a7b777f8-7bd8-5657-b546-b875380d0765","url":"/shared/heading/h3","name":"h3","displayName":"H3","fields":{"tag":{"value":"h3"}}},"title":{"value":"Cyber insurance"},"tocTitle":{"value":""}}},{"uid":"89c5c299-8268-455f-8307-1b581ef0736e","componentName":"Blog-Content","dataSource":"{A9E1632A-5A85-446B-91ED-42E67F2E8641}","params":{},"fields":{"content":{"value":"Cyber insurance protects your company from data breaches and cyberattacks. This policy is strongly recommended for engineering firms that handle sensitive information.
"},"enableSpacing":{"value":false}}},{"uid":"d9360c3e-9447-49be-882a-e110665c9d9d","componentName":"Heading","dataSource":"{BB20730E-A014-4DD5-8779-89044953270B}","params":{},"fields":{"descriptor":{"value":""},"tag":{"id":"a7b777f8-7bd8-5657-b546-b875380d0765","url":"/shared/heading/h3","name":"h3","displayName":"H3","fields":{"tag":{"value":"h3"}}},"title":{"value":"Commercial auto insurance"},"tocTitle":{"value":""}}},{"uid":"57d11831-ff7a-44ce-9e82-239b8c66a0f1","componentName":"Blog-Content","dataSource":"{BA42F8AC-5FD2-4364-93C3-CA2DD821E6B2}","params":{},"fields":{"content":{"value":"Commercial auto insurance covers the cost of property damage and injuries in an accident that involves your business vehicle. Whether or not you are required to carry commercial auto insurance depends on the laws in your state.
"},"enableSpacing":{"value":false}}},{"uid":"11835f3d-cb17-4469-9a76-4c1f4cbe719c","componentName":"Heading","dataSource":"{790E93EC-23C8-4B9B-BBEB-20F43E3D6B57}","params":{},"fields":{"descriptor":{"value":""},"tag":{"id":"08eb6160-7d2c-512c-98ff-626090c9fc87","url":"/shared/heading/h2","name":"h2","displayName":"H2","fields":{"tag":{"value":"h2"}}},"title":{"value":"Find professional engineer insurance quotes from trusted carriers with Insureon"},"tocTitle":{"value":""}}},{"uid":"c01e731f-0647-487f-bd4e-eebfa64deadf","componentName":"Blog-Content","dataSource":"{03AC868C-F1DC-4760-AF37-84ABE9870649}","params":{},"fields":{"content":{"value":"Complete Insureon’s easy online application today to compare insurance quotes from top-rated U.S. carriers. You can also consult with an insurance agent on your business insurance needs. Once you find the right types of coverage for your small business, you can begin coverage in less than 24 hours.
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