\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, Mike collaborates with multiple Insureon teams to create useful content for blog posts, articles, and policy pages.
\nBefore joining Insureon, Mike did freelance work for insurance companies, a marketing agency, and other clients. He also spent several years as a reporter and editor working for newspapers, a financial newswire, and a monthly magazine.
"},"educationSectionHeading":{"value":"Education"},"education":{"value":"Mike received a BA in Communications at Bradley University. He received his MA in Public Affairs Reporting at the University of Illinois, Springfield.
"}}},"blogPostDate":{"value":"2024-01-11T06:00:00Z"},"footnote":{"value":"Mike spent several years as a reporter and editor covering politics, crime, and the world financial markets. He’s worked for several newspapers, a financial newswire, and a monthly magazine. As a copywriter, Mike has produced SEO-based content, marketing, public relations, and advertising work for a variety of companies.
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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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\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.
Let's take a look at how to start a painting business, protect its assets, and make it profitable.
"},"enableSpacing":{"value":false}}},{"uid":"d123be42-43b5-48be-87cb-939d29f73a8c","componentName":"Heading","dataSource":"{F392E042-F492-4296-AB4F-A9A337871B7A}","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":"Build a solid business plan for your painting company"},"tocTitle":{"value":""}}},{"uid":"0769a553-63d9-4af9-b18a-bf061a953acc","componentName":"Bodytext","dataSource":"{D1D80BF3-511D-4C3D-939D-FD83AD060E0B}","params":{},"fields":{"body":{"value":"A business plan can help you map out your path to success and think ahead about any problems you might have and how you’ll address them.
\nIt can also be a useful tool that you can show potential customers or investors, to let them know you’re prepared for success. Potential lenders might ask to see a business plan before granting you a loan.
\nHere are the key steps towards creating a business plan for your painting business:
"},"enableSpacing":{"value":false}}},{"uid":"12881208-52ab-4596-86d7-bcf134dd4b51","componentName":"Blog-Content","dataSource":"{E9D9FA57-6620-4867-B699-2BABEDAEFC1E}","params":{"CacheClearingBehavior":"Clear on publish"},"fields":{"content":{"value":"You’ll need a business name that stands out and gives people a clear idea of what your business does. You might check within your area to see the kinds of names your potential competitors use, and make sure you don’t adopt a name that’s too similar to theirs.
\nOne option is to use the name of your city or neighborhood in your name. This is useful if you plan to only work in a particular location. It could also help you stand out when people do a Google search for painters in your area.
\nYou might ask a friend or an artist to design a logo for you, or buy a predesigned logo online. You can use this logo on your business cards, email signatures, and on magnetic stickers for your business vehicle. Including your website or other contact information within your logo can make it easy for potential customers to contact you.
\nWill you need a business license? You may have to register your business with your state or local government. You can check with your state’s Secretary of State website, and/or your local city or county clerk’s office, to see what’s required.
\nWill you be a solo entrepreneur, or will you hire people to work for you? You can see what the marketplace is like by checking out local online job boards and social media sites such as Facebook, Angi (formerly Angie’s List), and Craigslist.
\nYou can find out the kind of wages an employee might expect, and learn how much customers are willing to pay for different painting jobs.
\nWhat’s your target market going to be? Will you work directly for homeowners or general contractors? Will you focus on interior painting or exterior painting jobs? Will you be strictly residential or are you willing to work on larger jobs, such as commercial properties? Will you only do painting, or will you also handle drywall and similar work?
\nDo you have a particular expertise that will help you stand out from the competition? Will you quote your job estimates by square footage or the number of hours you expect a job to take? What’s your target market going to be?
\nYou should be able to cite specific services and price ranges for each type of job.
\nPotential customers will want to check out your website to find out more about your business. A well-designed website can help convince people you’re a legitimate business owner who provides quality work.
\nYou don’t have to go overboard and create something fancy, and you might not even need a web designer. Web hosting platforms, such as GoDaddy, make it easy to create a website yourself using templates. These platforms also have people you can hire to do the job for you.
\nAt the very least, your website should include the name of your business, your locale, the types of services you offer, and any credentials you have, such as your level of experience. You might also ask your satisfied customers for comments and endorsements you can add to your website.
\nYour potential customers will want to see that your website is professional looking and offers a clear idea of who you are and the types of painting services you offer.
"},"enableSpacing":{"value":false}}},{"uid":"744ae622-7aea-4528-9b27-3df425579c34","componentName":"In-content","dataSource":"{DB2A9124-7B3F-4ECB-95BB-1CB10A231508}","params":{},"fields":{"button":{"value":"Get Quotes"},"heading":{"value":"Find the right coverage for your painting business"},"title":{"value":""},"openCalendly":{"value":false},"direction":{"value":"ltr"},"ctaImage":{"value":{"src":"https://cleanttteam.com/-/media/industry-and-professions/imagery/construction-and-contracting/painters/image_painter.png?h=300&iar=0&w=456&rev=0e47b9129def4993ba22021091f44acf","alt":"Contractor rolling new paint on a wall at a client worksite.","width":"456","height":"300","title":"Contractor rolling new paint on a wall at a client worksite."}},"href":{"value":""},"text":{"value":"Learn more"},"newWindow":{"value":false}}}]}},{"uid":"64d3100a-64a1-46fe-9a7a-2c07ef193490","componentName":"Section","dataSource":"{85BAE158-714F-49E2-BD96-9E3410635D05}","params":{},"fields":{"backgroundColor":{"id":"801ed9bc-3445-4278-8781-a9d59f0b72f8","url":"/configuration/background-colors/light-purple","name":"light-purple","displayName":"light-purple","fields":{"color":{"value":"#F6F4FF"}}},"cssClass":{"value":""},"backgroundColorOverride":{"value":""}},"placeholders":{"Section-Content":[{"uid":"f883294f-4520-4a24-87f6-f14b2d44fd46","componentName":"Heading","dataSource":"{42F36ACB-3E88-442E-A4AC-DDBD10934367}","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":"Protect your business with the right insurance coverage"},"tocTitle":{"value":""}}},{"uid":"c2abf67e-ddc1-4e02-abde-f890715e49ac","componentName":"Bodytext","dataSource":"{D4B87A84-2A04-406C-8DBB-BB2F8CCDB496}","params":{},"fields":{"body":{"value":"As you grow your painting business, you’ll need the financial protection small business insurance provides. Some policies may be required by law, or to qualify for contracts.
\nGeneral liability insurance covers ordinary business risks, such as a customer’s slip and fall accident on your property, or damage that yourself or your employees cause to a customer’s property.
\nBusiness owner's policy (BOP) combines your general liability coverage and commercial property insurance. It’s typically less expensive than buying each policy separately.
\nWorkers’ compensation insurance is required in most states for businesses with one or more employees, and for sole proprietors in some of the riskier professions in the building trades.
\nCommercial auto insurance covers legal bills, medical expenses, and property damage if a vehicle owned by your painting business is involved in an accident. Most states require this coverage for business-owned vehicles.
\nContractor’s tools and equipment insurance covers the repair or replacement of your tools and equipment if they’re lost, stolen, or damaged.
\nProfessional liability insurance, also called errors and omissions (E&O) insurance, covers your legal costs if an unsatisfied customer sues you over a mistake, such as missing a deadline on a painting job.
\nSurety bonds act as a contract between a business, a client, and an insurance company. They guarantee the surety company will reimburse the client if the business fails to deliver contracted services. In the construction and painting fields, these are also referred to as a license bond and a contractor bond.
"},"enableSpacing":{"value":false}}},{"uid":"9346b2af-ffa0-48ab-8801-b32f0e57698e","componentName":"Heading","dataSource":"{658F06C0-A5AA-4E80-BD70-C005F28B39E8}","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":"Define your marketing and sales strategies"},"tocTitle":{"value":""}}},{"uid":"ffec5a17-0681-4948-9df1-67415b922c7a","componentName":"Bodytext","dataSource":"{767CF78E-6879-4786-AD52-2791E6045900}","params":{},"fields":{"body":{"value":"As mentioned above, Facebook, Angi, and Craigslist can be a great way to find out about your competitors. They can be a cost-effective means of promoting your business as well. Another marketing avenue to consider is creating a profile and promoting your business on LinkedIn, Nextdoor, and Instagram.
\nMake sure you’re also listed in local business directories, such as Google Business Profile, Yelp, Yellow Pages, and your local Better Business Bureau.
\nA word-of-mouth campaign can be an effective tool for promoting your business. You can ask your satisfied customers to refer you to their friends and neighbors as potential clients, and to post reviews on whatever social media platforms they use, to help with your social media marketing efforts.
\nYou could also initiate a referral program with other businesses in your area, such as realtors and contractors, where you recommend each other’s services and help each other with lead generation.
\nReal estate agents will be aware of any home buyers or sellers looking to spruce up their properties. And contractors and construction companies might be willing to hire you directly as a subcontractor on construction or remodeling jobs they do.
\nProperty developers might let you know about new construction in your area. You could also find painting leads through interior designers and property managers, who might be willing to offer referrals.
\nIt’s also a good idea to have your logo and contact information printed on lawn signs you can post outside your painting projects, especially for house painting jobs where neighbors can see it.
"},"enableSpacing":{"value":false}}},{"uid":"7389dd23-790b-463f-b702-823904470c97","componentName":"Heading","dataSource":"{36660B64-0592-4556-9BEC-138E3055C6C6}","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":"Consider online advertising"},"tocTitle":{"value":""}}},{"uid":"d6ee085a-688d-4264-b67a-213e61c215f9","componentName":"Bodytext","dataSource":"{90D4C961-F84E-42B6-A334-9E0D2B375BB9}","params":{},"fields":{"body":{"value":"At the top of any Google search results, you’ll likely find ads related to whatever you’re searching for. These Google ads can help you promote your business and stand out from the competition. You might consider Facebook ads as well. One of the benefits of these is you can track the results to see how effective these ads are for your business and whether you’re reaching your target market.
"},"enableSpacing":{"value":false}}},{"uid":"62126a53-00de-43d4-a721-bdb9919d9f87","componentName":"Heading","dataSource":"{7CB20CF8-45E7-44E4-8139-2CE46B37B7A5}","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":"Show off your work"},"tocTitle":{"value":""}}},{"uid":"16be0b59-7914-486d-b839-7f5c44230b39","componentName":"Bodytext","dataSource":"{9D830149-2122-4347-BDDB-DDFC8950C162}","params":{},"fields":{"body":{"value":"Once you’ve successfully completed a few painting jobs, you can highlight them on your website and social media. You can include before and after pictures that show off what you’ve accomplished.
\nJust make sure you obtain a customer’s permission first. If customers are willing, you might ask them for a brief endorsement of your work to add to your website.
"},"enableSpacing":{"value":false}}},{"uid":"0a64cfd8-e85a-44da-865a-172dff9aaa3d","componentName":"Heading","dataSource":"{5E5F4D42-5BBF-4290-A0A7-BDF1EE739133}","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":"Join local and professional associations"},"tocTitle":{"value":""}}},{"uid":"2bc367d0-3ec0-4aa1-a73b-8ed0b04d2ac6","componentName":"Bodytext","dataSource":"{A6004C8F-A1F4-45B0-BE52-47BF710355D0}","params":{},"fields":{"body":{"value":"Your local chamber of commerce may have networking events. You can also join trade and business groups on LinkedIn and other platforms.
\nThe Painting Contractors Association, originally known as the “Painting and Decorating Contractors of America,” offers education and certification courses, as well as networking events for painting contractors. Listing this membership and certifications on your website and promotional materials can help you stand out from your competitors.
\nThe Commercial Painting Industry Association is a global trade association for commercial painting contractors. It offers webinars and other resources for commercial painting contractors.
\nThe Pro Painter Network is a trade group whose goal is to empower independent painting contractors and help them succeed. It provides access to retailer discounts, networking opportunities, and informational resources.
"},"enableSpacing":{"value":false}}},{"uid":"8ce9729a-e049-406a-8b73-36912f69414d","componentName":"Heading","dataSource":"{DCB2806B-7B47-4473-A630-355F89D48142}","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":"Attend painter networking events"},"tocTitle":{"value":""}}},{"uid":"9f7e0c68-13fc-4765-8724-3eb7bacddf2f","componentName":"Bodytext","dataSource":"{3A7DF084-CD16-4EBE-96EF-B395BF6529D4}","params":{},"fields":{"body":{"value":"Painting industry conferences offer the chance to expand your knowledge base about the industry, learn from other people’s experience, and gain knowledge on a variety of topics that impact painting contractors.
\nPCA Expo is the Painting Contractors Association’s annual tradeshow that offers networking opportunities, educational intensives, and panel discussions on painting industry topics.
\nContractor Reboot Conference, also run by the Painting Contractors Association, offers the chance to learn about business operations, strategies for building strong teams, and maintaining a positive cash flow, among other topics.
"},"enableSpacing":{"value":false}}}]}},{"uid":"45cc7ebb-85cb-43ce-ba81-24abf11a9275","componentName":"Section","dataSource":"{390CD260-9383-49DE-AB0E-0E571E45A9C4}","params":{},"fields":{"backgroundColor":{"id":"4e10d6c6-04ea-4a71-a51f-33aa9a76eccc","url":"/configuration/background-colors/white","name":"white","displayName":"white","fields":{"color":{"value":"#FFFFFF"}}},"cssClass":{"value":""},"backgroundColorOverride":{"value":""}},"placeholders":{"Section-Content":[{"uid":"cc07ea18-abee-4834-b19b-1e897162e576","componentName":"In-content","dataSource":"{DB2A9124-7B3F-4ECB-95BB-1CB10A231508}","params":{"CacheClearingBehavior":"Clear on publish"},"fields":{"button":{"value":"Get Quotes"},"heading":{"value":"Find the right coverage for your painting business"},"title":{"value":""},"openCalendly":{"value":false},"direction":{"value":"ltr"},"ctaImage":{"value":{"src":"https://cleanttteam.com/-/media/industry-and-professions/imagery/construction-and-contracting/painters/image_painter.png?h=300&iar=0&w=456&rev=0e47b9129def4993ba22021091f44acf","alt":"Contractor rolling new paint on a wall at a client worksite.","width":"456","height":"300","title":"Contractor rolling new paint on a wall at a client worksite."}},"href":{"value":""},"text":{"value":"Learn more"},"newWindow":{"value":false}}},{"uid":"b81cdeeb-45f9-4380-869d-eed4d7223af4","componentName":"Heading","dataSource":"{5DC1AF0B-E390-4A00-8CAD-BFB75CA913D3}","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":"Secure painting contracts"},"tocTitle":{"value":""}}},{"uid":"d4725fa6-39a8-4d5f-b4e2-ba639a798419","componentName":"Bodytext","dataSource":"{D3245C58-A8A9-43B2-8F6E-723ADD0C8BE4}","params":{},"fields":{"body":{"value":"When writing a contract for painting jobs, you’ll have to take several things into account as you draft an estimate. You’ll also have to make sure the contract is clearly written so the customer understands what’s involved.
\nMake sure your written contract spells out the scope of work to be done, when it will be done, and every detail involved. This includes:
\nOf course, before you can write up an estimate, you’ll have to inspect the premises and get an idea of the room size, the types of surfaces you’ll have to paint, and any obstacles such as furniture, light fixtures, and anything attached to the walls.
\nWhen it comes to estimating the price of a job, you ought to start with the amount of paint you’ll need. You can do this by measuring the square footage of the surfaces, then make your own calculations or use one of the many online tools available via paint and home-improvement supply websites. There are also phone apps that can help with this.
\nRemember to take all your costs into account when drafting an estimate. This includes your paint and everything else you’ll need for the painting job, such as brushes, rollers, painter’s tape, masks, and cleaning supplies.
\nYou’ll also have to account for labor costs, including yourself and any employees or subcontractors. If your contract includes a warranty on your work, it should spell out exactly what’s covered and for how long.
"},"enableSpacing":{"value":true}}},{"uid":"0a32614d-ba78-469d-88b9-890aa7380a6b","componentName":"Heading","dataSource":"{789ED57C-9B3C-47E6-B56E-0F43413C664E}","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 much do professional painters make?"},"tocTitle":{"value":""}}},{"uid":"79275e99-640b-4c74-8742-be2efb0cb34d","componentName":"Bodytext","dataSource":"{C6E7558A-EDD8-49FF-91F8-32B8F9BAA1C7}","params":{},"fields":{"body":{"value":"The average base salary for painters in the United States is $20.03 per hour according to Indeed, plus $5,625 per year in overtime.
\nThose with less than a year of experience earn an average of $18.11 while someone with more than 10 years of experience averages $23.68.
\nIndeed also reports that obtaining certification cards from the Occupational Safety and Health Administration can boost a painter’s income substantially. An OSHA 10 certification can boost a painter’s income by more than 17%. An OSHA 30 certification can increase a painter’s income by 36%.
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