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Small business benefits, also commonly referred to as group benefits, give businesses a way to offer employees quality healthcare and long-term planning perks at an affordable cost. The term “small business” simply refers to EZ.Insure’s specialization in businesses with fewer than 50 employees, but don’t worry— even if your company has 50+ employees, we have access to insurance plans that meet the needs of any business size.

 

Whether you’re a new company looking to establish your first employer-sponsored health plan, or are simply aiming to enhance your team’s current benefits package, EZ.Insure makes the process quick, easy, and affordable. 

 

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Small Business Health Insurance

Small business health insurance provides essential health coverage to employees of a company. This type of insurance generally costs much less for employees as opposed to an individual plan, as insurance rates tend to go down when larger groups are insured together. These plans are highly customizable for small businesses as they can be tailored to meet a variety of specific needs and budgets. In addition to providing key health benefits to employees, studies show that employers who offer health insurance have an easier time attracting and retaining top industry talent. 

 

Want to learn more? Check out our full, in-depth Small Business Health Insurance Guide. 

Small Business Dental Insurance

Dental insurance is an insurance add on that covers all of your routine dental care such as cleanings, X-rays, fillings, and major procedures like crowns or root canals. The great thing about dental insurance is that many plans cover preventive dental care services at 100%, making it easy and affordable to keep your oral hygiene in tip-top shape. Dental insurance is typically purchased as an add-on to health insurance since the Affordable Care Act does not require healthcare plans to cover it. Even so, employers frequently offer both perks in aims to provide a more well-rounded benefits package that covers all of the bases. 

 

Want to learn more? Check out our full, in-depth Small Business Dental Insurance Guide.

 

Small Business Vision Insurance

Small business vision insurance, is an employee benefit that’s generally added-on to employer-sponsored health insurance and covers a variety of routine eye care services. These services include annual eye exams, prescription lenses, eye contacts, and sometimes even corrective eye procedures like LASIK surgery. Since poor vision is something that can significantly impact job performance and overall well-being, offering it to employees tends to increase overall job satisfaction and employee productivity. Additionally, it generally costs $15 or less per month per employee to offer vision insurance, making it an affordable and appealing complement to a typical health benefits package. 

 

Want to learn more? Check out our full, in-depth Small Business Vision Insurance Guide. 

Small Business Life Insurance

A small business life insurance policy is a necessity for anyone with loved ones who depend on them. This type of policy is commonly added on to employee benefits packages and works by providing an employee’s loved ones (beneficiaries) with funds in the case of an unexpected death. There are multiple types of life insurance policies all of which function slightly differently. These include:

 

  • Term Life Insurance: Provides coverage for a set number of years only, and pays out a death benefit if the employee passes away during that time.
  • Permanent Life Insurance: Includes “Whole Life Insurance” and “Universal Life Insurance” and “Final Expense Insurance,” all of which remain in effect for the entirety of your life, and never need to be renewed, as long as you pay your premiums. 

Employers can choose to fully cover the cost of employee life insurance, or offer it as a voluntary benefit where employees pay part or all of the premium cost. No matter how it’s set up, small business life insurance provides employees and their families with peace of mind, knowing that they’ll be financially stable in the case of an untimely death. 

 

Want to learn more? Check out our full, in-depth Small Business Life Insurance Guide. 

 

QSHERA (Qualified Small Employer Health Reimbursement Arrangement)

A Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) is a health benefit alternative to traditional health care, tailored to businesses with less than 50 full-time equivalent (FTE) employees. Rather than providing a standard group health insurance plan, companies offering QSEHRA can reimburse employees tax-free for their individual health insurance premiums and other qualified medical expenses.

 

QSEHRAs stands as a flexible, economical alternative to group health plans, allowing small businesses to offer employees important medical benefits without the complexity of traditional coverage.

 

Want to learn more? Check out our full, in-depth QSEHRA Guide.

ICHRA (Individual Coverage Health Reimbursement Arrangement)

An Individual Coverage Health Reimbursement Arrangement, commonly referred to as an ICHRA, is a benefit funded by employers that reimburses employees for health insurance premiums and qualified medical expenses. Unlike traditional health plans, where employees are limited to one or a few pre-selected coverage options, ICHRAs let workers choose the plan of their choice, and then receive tax-free reimbursements for the plan’s cost.

 

While Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs) exist only for businesses with less than 50 employees, ICHRAs can be offered to businesses of any size. All in all, ICHRAs serve as a great alternative to traditional group health insurance, as they provide more flexibility to employees, while helping employers manage costs efficiently.

 

Want to learn more? Check out our full, in-depth ICHRA Guide. 

 

Level-Funded Plans

A level-funded health plan is one type of employer-sponsored health insurance that offers business owners more flexibility and savings potential compared to traditional, fully-insured health plans. Level-funded plans are created by combining aspects of self-funded and fully-insured health insurance, helping small businesses manage high healthcare costs, while also providing employees with quality benefits. 

 

Unlike traditional health plans, with level-funded plans business owners incur some of the financial risks for claims. On the flip side, level-funded plans present the opportunity for refunds, if claims are lower than expected. Level-funded plans also commonly provide business owners with stop-loss insurance, which helps to pay for claims that are higher than anticipated. 

 

Want to learn more? Check out our full, in-depth Level-Funded Health Plans Guide.

Self-Funded Plans

A self-funded health plan, also known as a self-insured health plan, is a type of employer-sponsored insurance where business owners incur the financial risk of employee health claims. Instead of paying a monthly premium to health insurance companies, with self-funded plans, employers set aside their own money to cover employee medical expenses as they arise.

 

Unlike level-funded and fully-insured plans which have fixed monthly payments or premiums, with self-funded plans employees only pay for actual employee claims that occur. This presents the opportunity to save funds that are unused at the end of the year, but also could mean paying more out-of-pocket, if claims are higher than expected. Stop-loss insurance is also commonly paired with self-funded plans to help keep out-of-pocket costs in check if claims are higher than expected. 

 

Want to learn more? Check out our full, in-depth Self-Funded Plans Guide.

 

Fully-Insured Plans 

A fully-insured health plan is a traditional employer–sponsored insurance plan, where businesses pay a set monthly premium to an insurance provider who takes full responsibility for all employee medical claims. Fully-insured plans decrease the amount of risk that employers take on, since the insurance company covers all claim payouts, no matter how many total claims are filed. 

 

Fully-insured plans are a great option for small businesses as they offer stability, since monthly premium costs always remain the same. Additionally, they are generally easy to manage and comply with all Affordable Care Act (ACA) regulations, making them a great choice for companies seeking predictable prices, and minimal administrative work. 

 

Want to learn more? Check out our full, in-depth Fully-Insured Health Plans Guide.

 

Get Small Business Benefits Today with EZ.Insure!

EZ.Insure has all the tools you need to get a small business health insurance plan, or other employee wellness benefits. No matter what your budget and preferences are, we can find a plan that works for you. Our platform offers free, no-obligation quotes, side-by-side plan comparisons and 24/7 access to licensed insurance agents. To get started, simply enter your ZIP code below or give us a call at (844)-770-0064.

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If you have more specific questions regarding any of our small business benefits, be sure to check out our Small Business Benefits FAQs section!

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What is Workers’ Compensation Insurance?

Workers’ compensation insurance, also known as “workers’ comp,” is a legally required (all states except Texas) type of insurance policy that pays benefits to your employees in the event that they are injured on the job.

 

It functions as a disability insurance fund, providing monetary compensation, healthcare benefits, or both, to employees. Workers’ compensation guidelines vary by state, so check out our workers’ compensation state pages to find out how your state handles workers’ comp regulations.

How Workers’ Compensation Works

The majority of workers’ compensation policies are funded by premiums the insurance carrier collects from you as the business owner. When disagreements arise, the Workers’ Compensation Board, the state entity that manages the program, steps in to handle them.

 

There are different types of workers’ comp, depending on your industry, with some policies administered by the government in special cases. For example, government employees, longshore and harbor workers, and energy workers are all covered by federal workers’ compensation programs. And for coal miners and their families, the Black Lung Program administers death and disability benefits.

 

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Benefits of Workers’ Compensation

Workers’ compensation benefits may include a portion of lost wages for the time your employee was unable to work. Reimbursement for medical services and occupational therapy may also be paid to your injured employee.

Salary Replacement

In most cases, a workers’ compensation applicant will get some replacement for their lost wages. But it will usually be less than their full pay. The majority of policies cover roughly two-thirds of the beneficiary’s gross pay. Although the payout is often not taxable at the state or federal levels, recipients who receive money from the Supplemental Security Income or Social Security Disability programs may have to pay taxes on those benefits.

Medical Expenses

Workers’ compensation insurance also offers coverage for medical costs associated with an illness or accidents sustained at work. This may include trips to the hospital, surgeries, and medication. In the case of workplace-related illnesses or injuries that are so serious that they require multiple treatments, workers’ comp will cover ongoing care. It will also cover repetitive injuries that manifest over time. 

 

It’s important to note that the majority of workers’ compensation policies only cover medical costs for injuries sustained directly as a result of working. A construction worker, for instance, could seek reimbursement for injuries sustained in a fall from scaffolding, but not for those sustained while traveling to the job site.

Disability Coverage

Some workplace accidents could be severe enough to render your employee permanently or temporarily disabled. In this case, your disabled employee may be eligible for benefits under your workers’ compensation policy to assist with paying their medical expenses and to partially make up for lost wages.

Survivor Benefits 

Workers’ compensation can help pay for funeral costs, as well as pay survivor benefits to your employee’s dependents if your employee passes away as a result of a work-related incident.

Types of Workers’ Compensation 

Each state is responsible for enforcing workers’ comp laws. There are no federal standards for this type of insurance, so depending on your location, the same injuries may result in radically different types of compensation.

 

But, when it comes to policy types, there are two types of workers’ compensation policies you can buy for your staff:

 

  • Coverage A – This type of policy includes all of the basic state-mandated benefits that an injured or ill employee is entitled to. In addition to salary replacement payments, it also includes any necessary medical treatment, rehabilitation, and death benefits. These benefits are available in every state, with the exception of Texas. Although the payouts vary greatly from state-to-state and are not always available to all employees.
  • Coverage B – This type of policy provides benefits over the basic minimum required, as offered by Coverage A. With coverage B though, employees are typically only compensated following the employee’s successful lawsuit alleging negligence or other wrongdoing.

In most states employees forfeit their right to hold their employer accountable for negligence by agreeing to receive workers’ compensation. The goal of this wage agreement is to safeguard both employees and employers. In exchange for assurance of payment, workers forgo additional recourse, and employers accept some liability in order to avoid the possibly higher costs of a negligence action.

 

Even though employees who receive workers’ compensation typically consent to a “no-fault” contract by giving up their right to sue their employers, state legislation and court decisions in certain jurisdictions have restored employees’ abilities to file lawsuits in a number of strictly limited situations. So, depending on where your business is located, you may decide to buy insurance that combines Coverage A and Coverage B.

Who Is Covered by Workers’ Compensation Insurance?

Who must be covered by workers’ compensation insurance depends on a number of factors—the size of your company, and the types of employees you have. For example, in some states, a company must have a certain minimum number of workers before it is required to have workers’ compensation insurance. And, while regulations vary by state, in the majority of states, all full-time employees are required to be covered by workers’ compensation insurance. Workers’ compensation regulations for independent contractors, temporary employees, and interns vary by state. 

 

The industry you work in also makes a difference. For example, in certain states, coverage for workers’ compensation is not necessary for:

 

  • Farmhands
  • Insurance agents
  • Family members under a certain age
  • Casual workers
  • Business owners and partners
  • Real estate agents

Additionally, employees of the federal government are not protected by state-mandated workers’ compensation insurance. They are instead covered by federal workers’ compensation. 

 

You should be familiar with the workers’ compensation regulations in your state, because these exceptions do not apply in every state.

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The Cost of Workers’ Compensation

Workers’ comp insurance premiums are generally set based on every $100 of your company’s payroll. Even so, it’s difficult to pinpoint an exact price without evaluating the different factors for your specific company. On average you can expect to pay anywhere from $0.60 to $2.27 per every $100 on your payroll.

 

To understand how the cost of your workers’ compensation insurance will be determined, you need to understand a few basic components of the equation:

Payroll

Every workers’ compensation insurance rate is calculated by dividing your payroll by $100. That means the more employees you have, the higher your rate will be. It’s important to keep in mind, though, that you’ll need coverage in some states as soon as you have a single employee, while in others you won’t need it unless you have three or more employees.

 

Depending on the regulations of your state, you might have employees who do not have to have coverage. For instance, you are probably not required to obtain workers’ compensation for yourself as the business owner. The same often holds true for company executives and limited liability company (LLC) members.

Workers’ Compensation Industry Classification

Certain industries pose higher risks than others. For example, someone working on oil rigs have a substantially higher risk of serious injury than an office worker. Workers in some professions, including contracting and building, run an increased risk. Which drives up the cost of insurance for those people.

 

States provide a class code for each type of industry. And each code is then given a base rate based on its risk for injury. 38 states employ class codes that were created by the NCCI. Others make use of independent rating agencies, while some have developed their own systems.

Employee Modification Rate

The EMR is a multiplier that represents the history of your claims. Your state workers’ compensation board or its ratings bureau compares your prior workers’ compensation claims to those of businesses in your industry to determine your EMR. Businesses with lower EMRs often pay less for their workers’ compensation insurance, with the typical range of EMRs being 0.75 to 1.25.

State Insurance Factors

Workers’ compensation insurance premiums vary from state-to-state because state laws regulate coverage. The cost of workers’ compensation will most certainly be higher in a state that provides higher or more payments to injured workers, or in a state with a lot of high-risk industries.

 

Several states though, give employers discounts if they take steps to increase safety and decrease claims. For instance, many state governments offer discounts for setting up safety committees, fall prevention programs, and drug-free workplaces.

Insurance Carriers

While most of the above factors are out of your control, you can still find the best price for your business by shopping around among different insurance carriers. Although this isn’t a universal rule, some workers’ compensation insurance carriers charge higher premiums than others. 

The Calculations

The basic formula for estimating workers’ compensation costs takes into account your industry, past claims, and total payroll. The basic formula is your annual employee payroll divided by 100. That sum is then multiplied by the workers comp insurance rate. That total is the estimated cost of your workers compensation premiums.

 

There are many moving parts in the precise formulas that insurers use to compute your workers’ compensation premium, and the methods they use to do so can differ from one insurer to another. Additionally, these formulas are based on your state-specific workers’ compensation regulations.

 

You should also take into account that there will be an option to pay your premium annually or monthly. This decision can also affect your price.

 

You should also consider any adjustments that might be made to your payroll during the year, including changes in your number of employees, your business class code, and your workers’ compensation rate, in order to choose the appropriate payment method for your company.

How to Save on Workers’ Compensation Insurance

The best way to make sure you can get affordable workers’ compensation insurance rates is to reduce the number and cost of your workers’ compensation claims.

 

You won’t have many options for cost-cutting when an employee submits a claim. To avoid having to pay large premiums in the future, you must put your plans in place as soon as possible.

 

You should think about implementing the following steps, which could be beneficial to both your company and your employees:

Return to Work Programs

Return to work programs help you get your employees back to work as soon as they are healthy enough.

 

A return-to-work program might help an employee ease back into their old responsibilities gradually, rather than having to wait until they’re fully recover to handle them. Until they are able to return to their regular tasks, the employee may perform light or modified work.

 

As part of this program, your employee can receive new training in a different skill set in order to earn their regular pay, instead of the lower rate provided as part of their workers’ compensation claim.

 

The advantage of this program is that you save money on wages given to any temporary workers you would have had to recruit to cover for your injured employee while they were recovering.

Work Safety Initiatives

The easiest way to reduce the price of workers’ compensation insurance is to avoid work-related illnesses and injuries as much as possible.

 

To motivate your employees to maintain a safe workplace and lower injury risks, be proactive about encouraging workplace safety measures. Here are some actions you can take to encourage a safer workplace:

 

  • Conduct regular safety training – Reaffirm best practices for conduct and safety, and keep on top of employee training for things like equipment usage.
  • Create a welcoming environment with an open door policy – It should be easy for your employees to approach you with questions about their safety. Remind them to visit you if they want to discuss workplace safety. Pay attention to their concerns, then take appropriate steps to reduce the risks and guarantee the safety of your staff.
  • Be open and honest about workers’ compensation benefits – When you hire new employees, you should tell them about your company’s policies on workers’ compensation. To remind current employees how workers’ compensation works if they are hurt on the job, arrange an employee benefits refresher.

Your team will feel more at ease and valued if you communicate openly and honestly about the policies you have in place to safeguard and promote their safety.

FAQs

  • Who pays workers’ compensation premiums?

By law, you as the employer pay the workers’ compensation premium. You can not deduct workers’ compensation payments through your employee’s paycheck.

  • Who is exempt from workers’ compensation?

Most of the time, only your employees can get workers’ compensation. Contractors or freelancers are almost never included in your plan. Aside from that each state makes its own laws. Arkansas, for example, does not require farm workers or real estate agents to have workers’ compensation.

  • How many employees do I need to get workers’ compensation insurance?

Every state has different requirements for workers’ compensation. Some states have you get coverage with even 1 employee while others require 3 or more.

Get Workers’ Compensation Coverage with EZ.Insure!

Workers’ compensation insurance exists to safeguard both your company and your employees. At EZ.Insure our experienced representatives are here to answer any additional questions you may have about the specifics of workers’ compensation in your state or industry. 

 

To get a free, no-obligation quote simply enter your ZIP code below or give us a call at (855)-694-0047.

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What is Tools and Equipment Insurance? 

Tools and equipment insurance, also known as contractor’s equipment insurance, protects company tools and machinery from damage or loss. This policy extends to a variety of tools such as portable tools, heavy machinery, power equipment, as well as leased or borrowed tools, depending on the specifics of your policy. If your equipment is lost, stolen, damaged or destroyed as a result of an unforeseen event, tools and equipment insurance can assist you in repairing or replacing them, keeping your projects on track. 

What Does Tools and Equipment Insurance Cover?

Tools and equipment insurance typically covers the following events:

 

  • Theft
  • Vandalism 
  • Accidental Damage
  • Vehicle-Related Damage*

*Tools and equipment damaged in vehicle-related events may or may not be covered depending on your specific policy’s details. 

 

It works by covering the losses or damages of the following types of equipment and tools: 

 

  • Handheld Tools (drills, saws, hammers, etc.)
  • Power Tools (nail guns, electric saws, cordless drills, etc.)
  • Heavy Machinery (excavators, bulldozers, forklifts, etc.)*
  • Measuring Tools (tape measures, levels, etc.)
  • Construction Equipment (ladders, scaffolding, etc.)
  • Safety Equipment (hard hats, ear protection, safety glasses etc.)
  • Electronic Equipment (computers, laptops, GPS devices, etc.)
  • Rented/Leased Tools*
  • Borrowed Tools
  • Storage Equipment (containers, toolboxes, etc.)
  • Specialized Tools (used for specific trades like plumbing or surveying tools).

*Depending on the specifics of your policy, heavy machinery and rental equipment may or may not be covered. 

What Doesn’t Tools and Equipment Insurance Cover? 

Tools and Equipment insurance usually does not cover the following:

 

  • Rust or Corrosion
  • Normal Wear and Tear
  • Intentionally-Caused Damage
  • Negligent-Related Errors (such as ignoring manufacturer instructions)
  • Natural Disasters (events like hurricanes, flooding or earthquakes require separate, standalone policies)
  • Manufacturer Defects
  • Loss Without Evidence of Theft

Who Needs Tools and Equipment Insurance? 

Tools and equipment coverage is essential for any professional that utilizes tools or machinery in their daily operations. This includes: 

 

  • Contractors
  • Carpenters
  • Construction Companies
  • Landscapers
  • Electricians
  • Plumbers 
  • HVAC Technicians
  • Cleaning Businesses
  • Concrete and Cement Companies
  • Janitorial Workers 

Even if you are not one of these professionals, but you rely on tools and/or equipment to generate income and run your business, we recommend investing in a comprehensive policy. 

How Much Does Tools and Equipment Insurance Cost for Small Businesses?

The average cost of a tools and equipment insurance policy for a small business costs between $14 to $50 per month. Here are some factors that affect the cost of a policy: 

 

  • Industry: The more risks that are involved in a certain line of work, may increase policy costs.
  • Policy Limits: Premiums tend to increase, as coverage limits increase. 
  • Equipment Cost/Type: Expensive equipment generally costs more to insure. 
  • Claims History: Prior claims raise rates (the industry as a whole also factors in). 
  • Location: Rates may rise if operating in an area that experiences high rates of theft.
  • Deductibles: In general, the higher your deductible, the lower your monthly premium will be. Keep in mind that with a high deductible, you’ll have to pay more out of pocket in the event of a claim. 

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Why is Tools and Equipment Insurance Important for Small Businesses? 

While some tools and equipment are easy and cheap to replace, others are quite expensive. In the case of an unfortunate accident where your equipment is damaged or missing, smaller companies in particular oftentimes can’t afford to replace them out of pocket. This is where tools and equipment insurance comes in. By investing in a policy, you’ll be able to: 

 

  • Avoid costly project delays.
  • Minimize loss caused by theft or damage. 
  • Protect expensive, specialized equipment or tools. 
  • Build trust with clients, by keeping projects on schedule.

What Does a Typical Tools and Equipment Claims Process Look Like?

If an incident occurs to your tools or equipment and you’re insured, here’s what you can expect for the process to look like: 

 

  • Notify the Insurer: As soon as the damage, theft or loss is discovered, it’s crucial to notify your insurer as soon possible. 
  • Document Relevant Proof: Photos, videos, receipts proving ownership, invoices for repairs, and police reports are all relevant documents that should be gathered. The more documentation you can gather, the better!
  • File the Claim: Get in touch with your insurer, whether it’s by calling your agent or filing the claim online. During this step you’ll likely need to provide all of the documentation you’ve gathered as well as other particulars regarding the incident such as the date and supporting details. 
  • Insurer Investigation: Your insurer will review the claim to reveal the extent of the damage or loss and the validity of the matter. This may include an insurance adjuster traveling to the site of the incident.
  • Approval and Calculation: If the insurer approves your claim, they will then calculate the amount of compensation that you’ll ultimately receive. This figure takes into account the value of the equipment and tools, as well as your policy details like limits, and deductibles.
  • Payout: Once approved, you’ll receive the funds. Keep in mind that these funds must be used to either repair or replace the damaged or stolen items. 

FAQs

Can Tools and Equipment Insurance Be Combined with Other Coverages?

While tools and equipment insurance can be purchased as a standalone policy, many insurers also include the option to bundle it with other coverages. Common insurance bundles include: 

 

  • Business Owners’ Policy (BOP): While BOP insurance typically includes general liability and property insurance, many insurers offer the option to add on tools and equipment insurance as an endorsement.  
  • Contractor’s Package: An insurance bundle specializing in covering risks associated with contracting work and other similar professions. It usually includes a combination of liability insurance, workers’ compensation, commercial auto insurance, and equipment coverage.

 

Does Tools and Equipment Insurance Cover Rentals or Borrowed Equipment?

Tools and equipment insurance will oftentimes cover rental, leased and borrowed equipment if it is damaged or stolen, but it depends on your policy’s specific details. In other cases, insurance plans will require you to add endorsements onto your policy, like specialized rental protection, to extend the scope of coverage. To ensure that you understand what your policy includes be sure to read through the coverage details, and speak with your insurance agent if anything remains unclear. 

 

Is Tools and Equipment Insurance and Inland Marine Insurance the Same? 

A common misconception about tools and equipment insurance is that it provides the same coverage as inland marine insurance, that’s simply not true. While they do offer some similar protections, here’s how they differ: 

 

  • Inland Marine Insurance: Similar to tools and equipment coverage, inland marine insurance protects property such as equipment, tools, inventory and materials while they are being transported from one location to another. This includes modes of transportation like trucks, trains and ships. Additionally, this type of coverage often offers higher coverage limits to protect valuable equipment. 
  • Tools and Equipment Insurance: On the other hand, tools and equipment insurance covers tools, equipment and machinery if it is damaged or stolen during daily operations or on the business property.

Get Tools and Equipment Insurance with EZ.Insure

At EZ.Insure we recognize the critical role that your tools and equipment play in your company’s success. That’s why we make it easy for you to find affordable coverage that fits your specific needs. 

 

Our user-friendly platforms offer free quotes, side-by-side plan comparisons and live expert assistance to answer any questions you may have. Don’t go unprotected any longer. Instead, get the coverage you deserve so your business can prosper for years to come. 

 

To get started, just enter your ZIP code below or call us directly at (855)-694-0047.

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If you’re a small business owner, you’ll need multiple types of commercial insurance to protect your business. But there are ways to simplify things: for example, you can purchase a business owner’s policy. A business owner’s policy (BOP) is an insurance package that combines two (or more) essential types of insurance, commercial property and general liability. 

 

A BOP is a great choice for small business owners.  Purchasing these two types of policies separately typically costs more than purchasing a business owner’s policy. And beyond the financial security that a BOP will give you, you’ll also get more leverage with landlords and important clients, since they’ll know that a lawsuit won’t force you out of business. They’ll have more faith in your longevity if you can produce proof of insurance. 

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How Does a Business Owner’s Policy Work?

As pointed out above, a business owner’s policy is basically a bundle of two types of commercial insurance: general liability and commercial property insurance. A BOP will cover you for any claims that would fall under those two types of policies and protect your business from losses. This type of policy covers a number of significant legal hazards your small business might experience in one easy package.

General Liability

The first line of protection for a small business owner is general liability insurance, which business owner’s policies always include. General liability covers things such as:

 

  • Third-party bodily injuries – If the public frequently visits your business, you’ll need to be protected against claims of bodily injury, since you are responsible if someone slips and falls or is hurt while on your property. A business owner’s policy will cover the legal fees and other costs associated with the claims made against you if any accidents occur at your place of business.
  • Third-party property damage – You are liable for the expense of repairing or replacing any damage If you or one of your employees causes damage to another person’s property. These expenses will also be covered by your business owner’s policy.
  • Product liability claims – Your business can be held legally responsible for any harm that your products cause to other people or their property. A business owner’s policy will offer a financial safety net if your business sells or manufactures physical products.
  • Advertising injuries – You could face legal repercussions if you or a member of your staff slanders a third party, violates a company’s copyright, or engages in other types of libel. Your legal representation, as well as any court settlements or awards, will be covered by your business owner’s policy.

Any small business owner who doesn’t have general liability insurance is taking a chance: any lawsuit you face could make a huge dent in your profits, or even bankrupt you. You might even need to have this type of insurance: when you sign a contract or apply for a small business loan, you could be required to provide evidence of liability insurance.

Commercial Property Insurance

The other major type of policy bundled into a BOP is commercial property insurance. This coverage offers financial assistance in the event that your facility or commercial property sustains damage or loss. Typically, this policy covers fire, theft, vandalism, and various weather-related incidents. 

 

You would be responsible for paying for these damages out-of-pocket without commercial property insurance, or a business owner’s policy. Your insurance policy will cover the costs of repairs, the replacement of any broken equipment, and assist in the recovery of your business.

 

Commercial property insurance is a necessity for any company that owns or rents commercial real estate. Typically, landlords anticipate that their tenants will be covered by their own commercial property insurance. This insurance is also a must if you produce goods, hold stock, or keep equipment.

Business Interruption Insurance

You can also add business interruption insurance to your BOP bundle. This type of policy covers losses that arise as a result of your company temporarily slowing down or ceasing operations due to theft, vandalism, or another insured event.

 

Every business with recurring expenses like payroll should consider purchasing a BOP that includes business interruption insurance. Business interruption insurance will assist you in keeping up with your obligations if your company is unable to generate revenue for a period of time.

Additional Coverages

In addition to the major types of coverage described above, there are numerous extra coverages that can be added to a BOP that might be right for your specific business. For instance, a small business will frequently benefit from the following endorsements:

 

  • Employee Dishonesty – Hopefully all of your employees will be trustworthy and honest, but this isn’t always the case. Employee dishonesty coverage will cover claims made by a customer if your employee steals from them.
  • Money and Securities – There is a chance that cash will be stolen, either on or off the premises, from your business. With this endorsement, your business will be compensated up to the insured amount.
  • Business Expense Income and Extra Expense – This add-on covers the loss of revenue and additional expenses that arise if a small business relocates due to structural damage brought on by a covered hazard.
  • Equipment Breakdown – Most businesses rely on equipment like pricey HVAC systems to maintain a comfortable environment for clients and staff. Your equipment breakdown insurance will cover the pricey repairs or replacement if these systems malfunction.

Each of the above endorsement’s prices are determined by your insurance company. And will either be a flat rate premium or a percentage of the policy premium. Additionally, the cost of these endorsements is determined by the limitations of coverage for each individual policy. It’s also important to remember that an endorsement normally cannot cover things like vehicle insurance, workers’ compensation, or floods, which are covered by other policies.

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What Isn’t Covered by a Business Owner’s Policy?

Depending on your business, you may need to purchase other insurance policies that BOPs generally don’t include. This can include: 

 

  • Workers’ compensation insurance – Workers’ compensation insurance will cover medical bills and lost wages for employees who get injured or fall ill on the job.
  • Professional liability insurance – Professional liability insurance, often called errors and omissions insurance, will protect you from accusations of negligent behavior or mistakes made by you or your employees when rendering your professional services. 
  • Commercial auto insurance – Commercial auto insurance is yet another important policy for companies that use cars and trucks in their everyday dealings. This policy will cover you if an employee is held accountable for a car accident.
  • Data breach coverage – Data breach insurance, also known as cyber liability insurance, can assist in covering costs incurred as a result of a data breach. These costs can include alerting impacted parties, engaging credit monitoring services where necessary, and public relations. If your company handles or stores confidential patient, employee, or customer information, this type of coverage is crucial.
  • Liquor liability – Businesses that sell, serve, or distribute alcohol are protected by liquor liability insurance. This kind of commercial insurance might assist in paying for claims of physical harm or property damage done by someone who has been served alcohol by your business.
  • Flood/earthquake coverage – This coverage will cover losses associated with natural disasters such as floods or earthquakes. These policies are generally sold separately. This is because not all areas need both.

Which Types of Businesses Should Consider BOPs?

Businesses must typically meet requirements for both annual income and total number of employees in order to be eligible for a BOP. Here are a few examples of the types of companies that typically purchase a business owner’s policy:

 

  • Self-storage facilities (storages facilities that offer outdoor vehicle storage are not eligible)
  • Retail, grocery, and convenience stores
  • Apartment buildings
  • Gas stations
  • Small office buildings (typically with less than 6 stories)
  • Small motels (typically with less than 3 stories)
  • Wholesalers
  • Contractors (though there are many restrictions, like yearly payroll caps and building size)

Additionally, very small businesses, typically those with less than 4 employees, may qualify for what’s known as a micro-BOP. These policies are severely limited and usually only cover property loss. These policies are also not available through every carrier.

 

Eligibility Requirements

Not everyone needs a business owner’s policy. Many insurers disqualify larger organizations from being eligible for a BOP plan. This is because they are more likely to find more comprehensive protection for their needs through other policy types. Additionally, BOP eligibility and the underwriting process may differ between insurance carriers. The majority of qualified businesses generally:

 

  • Operate in a low-risk industry
  • Do business anywhere besides the business owner’s home
  • Have less than 100 employees
  • Generate less than $1million dollars in annual revenue 
  • Operate out of a smaller space
  • Conduct business primarily on-site

How Much Does a Business Owner’s Policy Cost?

The cost of a BOP generally varies depending on your business’s underwriting factors and any additional coverages needed. With that being said, the typical annual premium for a business owner’s policy is $1200. But the cost can range from $500 to $3500. Your specific coverage limits, industry, claim history, amount of employees, total annual revenue, and building, contents, and equipment replacement costs are all factors that determine the cost of your BOP. 

Coverage Limits

Your BOP’s coverage limits have a direct effect on the price of your premiums. Many small businesses buy a BOP with a coverage limit of $1,000,000/$2,000,000. Meaning that over the course of the policy, the insurer will offer $2 million in total coverage and $1 million in coverage per claim per year. But there are BOPs available that come with limits starting at $300,000/$600,000 and going all the way up to $2 million/$4 million. Depending on your insurer, larger limits might also be available.

Industry

Industries with higher risk factors will have to pay a higher premium.

Property value and type

The price of the commercial property insurance element of your BOP will vary based on the type and value of the assets you’re covering. The cost will increase in direct proportion to the value and difficulty of replacing your property.

Location, size, and age of your business

Costs will also vary depending on your business’s location and length of operation. In general, premiums for newer enterprises are higher. In addition, you are more exposed to risk and more likely to spend more for a BOP the more employees you have.

Claims history

When providing you with a quote for a premium, insurers pay close attention to your claims history. If you have previously made a lot of claims related to your business operations, you will likely pay higher premiums.

 

FAQs

  • Is a Business Owners Policy required by law?

A BOP is made up of two types of insurance: general liability and business property insurance. There is no law requiring either one. However, a lot of commercial landlords will require you to buy commercial property insurance aka business renter’s insurance. Before you’re allowed to sign a lease your landlord might need to see proof of this coverage. Additionally most of your client’s contracts might also require you to have general liability insurance. So to meet either of those needs you still need to have both of these plans and the easiest way to get both in one go is with a BOP.

  • Does a Business Owners Policy cover independent contractors?

A BOP usually only covers you and your employees, independent contractors are typically not considered your employees. You can add contractors as temporary additional insured on your policy, or you can even require them to buy their own general liability insurance in their contract.

  • Is a Business Owners Policy right for me?

If you own a small business that makes less than $1million a year, you might benefit from a BOP. A BOP is a great way to protect your business with the basic insurance coverage. It helps keep your business running and protects you from potential financial disaster in case of an emergency.

 

How to Buy a Business Owner’s Policy

Ask your current insurer if they offer a business owner’s policy if you currently have general liability insurance, property insurance, or another type of commercial policy through them. You could end up paying less by bundling your policies with them.

 

Various insurance companies offer business owner’s policies, so it might feel overwhelming to do all the research. That’s where EZ.Insure comes in. We can help you compare policies from the top insurers in the nation. Our highly trained agents can save you hundreds of dollars a year by working with your budget to get you the policy your business needs. To get started, simply enter your ZIP code below, or give one of our agents a call at (855)-694-0047.

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If you’re a small business owner, there are probably a lot of things that worry you. One of them might be the amount of liability insurance you should have, since facing a major lawsuit could mean losing everything you’ve worked for. This of course, is the worst-case scenario but even so, it’s better safe than sorry – and this situation is entirely avoidable with an umbrella liability and/or excess liability insurance policy

 

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What is Umbrella Liability Insurance?

Umbrella liability insurance is a type of coverage policy that works by extending the limits of multiple existing liability policies including general liability, professional liability auto liability and employer liability insurance. In addition to increasing current policies limits, umbrella liability also helps by filling in coverage gaps by covering some claims that primary policy might exclude.

 

So, if your business faces a lawsuit and you are liable for damages that are greater than the limits of your commercial insurance policy, an umbrella policy will help you to pay the remaining amount. That means you won’t have to sell any of your assets or use any of your savings to pay the additional expenses out-of-pocket. 

 

It’s important to note that umbrella policies are supplemental coverage, meaning you can’t purchase one without first having primary liability insurance.

What Does an Umbrella Liability Policy Cover?

Commercial umbrella liability policies work pretty much the same as traditional commercial liability policies. It also provides protection against the same types of risks. To be more specific, an umbrella insurance policy will give you supplemental coverage for the following:

 

  • Slip and fall injuries – If you have general liability insurance and also purchase commercial umbrella insurance. Your supplemental policy will cover any excess legal costs in the event that a third party sustains an injury on your company’s property.
  • Third party property damage – The addition of commercial umbrella insurance to a general liability policy will help to pay legal fees associated with the destruction or damage of third-party properties.
  • Car accidents – If you have a commercial auto insurance policy or a policy that covers hired and non-owned vehicles. Adding commercial umbrella insurance to those policies can help cover costs in the event that someone sues you for damages caused by one of your vehicles.
  • Employee injury lawsuits – Having an umbrella policy on top of employers liability insurance (which is typically included in workers’ compensation insurance) will help pay for employee lawsuits brought on by work-related injuries caused by employer negligence.

What Doesn’t Umbrella Liability Insurance Cover?

Although umbrella insurance can increase the liability limits of several other policies, it does not offer the complete safety net that a small business may require. Umbrella policies do not cover the following:

 

  • Damages within the primary policy’s limits – Umbrella liability insurance does not kick in until the limits of the primary policy have been exhausted. As with any insurance, it only covers things up to the policy’s maximum.
  • Business property damage – Damage to your company’s property due to things like fire, theft, or certain types of weather can be covered by the commercial property insurance included in a business owner’s policy (BOP) or commercial package policy (CPP). Umbrella policies are extensions of existing liability insurance and you cannot buy them separately for property.
  • Professional errors – Malpractice insurance, also known as errors and omissions insurance (E&O) or professional liability insurance, protects professionals from legal action stemming from their own negligence or those of their clients. Excess liability insurance, also known as excess E&O insurance, is very similar to umbrella insurance. You can use it to increase the limits of this type of policy. But umbrella liability insurance will not cover this type of negligence.
  • Employee theft – If you want to protect your company financially from employee theft or fraud against customers or clients. You’ll need commercial crime insurance, also known as a fidelity bond.

Who Needs an Umbrella Liability Policy?

In general, the more face-to-face interaction your business has with your clients and customers, the greater your liability risks. In addition, if your employees are using dangerous equipment or heavy machinery, your business faces even more risks. 

 

If the above is true for you, and you believe that the cost of a claim could exceed your liability limits, purchasing commercial umbrella insurance is something you should seriously consider doing. This coverage may be of useful for your business if:

 

  • You’re a general contractor and your client needs more coverage – Umbrella insurance is a stopgap measure for contracts worth more than $2 million. If you’re a general contractor, and your existing general liability policy has a $2 million per-occurrence limit, but your client contract requires a $5 million per-occurrence limit. You would add an umbrella policy with a $3 million per-occurrence limit.
  • You’re in contact with the public – The possibility of a customer sustaining a physical injury is increased when your establishment is open to the public. For instance, during business hours, wholesalers frequently use various pieces of machinery to restock the shelves of their warehouses. When using this kind of machinery in the presence of customers, there is a risk of injury. If someone gets hurt while on your property, you could be liable for expensive medical bills and lawsuits that exceed the limits of your general liability insurance. 
  • You do work off site – Working away from the physical location of your company can also increase the liability risk it faces. For instance, if your employees are performing work at the residence of one of your customers, there is an increased possibility of property damage. 

 

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The Cost of Umbrella Liability Policies

The range of umbrella insurance policies available is very broad, with a significant gap between the lowest and highest limits of coverage. This makes sense, since no two businesses share the same set of risks. There are businesses that choose to purchase $1 million in supplemental coverage, and businesses that might even choose to purchase $100 million or more in coverage. The amount of coverage you choose, as well as other factors related to the type of business you run, the amount of employees you have, and your annual revenue, will determine how much an umbrella policy will cost you.

 

With that being said, prices can vary widely even between seemingly identical businesses. And keep in mind that without knowing your business, we can’t give you exact quotes, so speak to an EZ agent to find out what you can expect to pay. But to give an example, let’s say your small business is looking for $1 million in coverage. With a $1 million policy, the highest premium costs average around $208 a month, or $2,500 for the year. Generally businesses with higher risks pay the most in premiums; this typically includes doctors, lawyers, and construction companies. On the opposite end of the spectrum, for less risky businesses such as cleaning services, you would pay around $33 a month. Or $400 for the year.

How Much Umbrella Liability Coverage Do I Need?

If you have a business that is contracted out by clients, and you have a contract with a client that requires a liability limit higher than $2 million, you will typically purchase an umbrella policy to meet that limit. It’s not unusual to see contracts worth $5 million or more. In that case, you buy a $3 million umbrella policy in addition to a $2 million primary policy. Otherwise, the amount of coverage you choose should be tailored to the specifics of your business and its industry.

 

Keep these three things in mind as you browse umbrella insurance quotes:

 

  • Your coverage should match your assets – To have enough coverage, your coverage needs to match your assets. So, if your entire company’s net worth is $1 million, that’s how much coverage you need.
  • Umbrella liability starts at a minimum of $1 million – You cannot purchase an umbrella liability policy with a coverage limit of less than this amount.
  • Umbrella liability coverage comes in increments of $1 million – You can only increase your liability coverage in increments of $1 million, allowing you to acquire precisely the amount of protection you need.

The Difference Between Umbrella Liability and Excess Liability

There is a common misunderstanding that commercial umbrella insurance and excess liability insurance are the same thing. You can purchase excess liability insurance to supplement your existing liability insurance policy. Your supplemental plan will only provide extra coverage to the specific plan you purchase it for, unlike umbrella liability insurance which can provide you with added coverage for multiple types of liability coverage. 

 

For example, if you buy excess liability for your general liability policy, it will only provide extra coverage for your general liability claim. On the other hand, if you purchase an umbrella policy, you will have extra coverage for all of your other liability policies in one supplemental policy.

FAQs

What are the disadvantages of umbrella insurance?

While umbrella insurance is a great way to supplement your current liability insurance it comes with some downfalls. These include the fact that adding an umbrella policy onto your current policy will increase your insurance premiums. Additionally, sometimes it’s required to increase the limits of your existing liability policy in order to qualify for umbrella insurance. 

 

Do I need umbrella liability insurance if I already have high coverage limits on my policies?  

Even if you already have high coverage limits on your existing liability policies, large lawsuits or claims can exceed your policy maximum limit. Umbrella insurance provides extra protection beyond your current policy limits, helping to pay for legal expenses, settlements and judgments, even if they are very expensive. 

 

Can I use excess liability insurance to cover multiple policies?

No, unlike umbrella insurance, excess liability simply extends the coverage of one specific policy. If you have multiple liability policies that you wish to extend, it’s worth looking into an umbrella liability policy instead. 

 

Get Business Insurance Today with EZ.Insure 

Get in touch with an EZ agent if you want to compare commercial insurance policies and prices quickly and easily. If you need assistance making sure your business has enough coverage, our agents are available to assist you at no cost. We’ll take a look at your long-term financial plans and insurance requirements, then recommend the best policies for you. 

To get started enter your zip code in the box below to get a free instant quote, or give us a call at 855-694-0037  to speak with a live agent.

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What is General Liability Insurance?

General liability insurance is important to have because it covers a wide range of common business hazards including, customer injury, customer property damage, and advertising injury. Additionally, general liability coverage is usually needed in order to qualify for a lease, loan, or to satisfy the terms of certain contracts. When you sign a commercial lease, for instance, a landlord can request to see a copy of your general liability insurance certificate.

What Does General Liability Cover? 

General liability insurance covers common liability claims made by third parties (people outside your business). If someone sues your business for physical harm, property damage, or advertising injury, this type of commercial insurance policy will pay for the defense costs. This includes everything from hiring a lawyer to paying for court-ordered judgements and settlements. Your commercial general liability (CGL) policy specifically offers protection for:

 

  • Third-party bodily injury – General liability insurance can assist in covering medical costs if a customer is injured in an accident at your place of business. If a customer files a lawsuit because of their injury, your policy will also pay your legal fees.
  • Third-party property damage – A general liability insurance policy will generally provide financial coverage in the event that your business or one of your employees unintentionally destroys or damages someone else’s property.
  • Product liability – Not all consumer or property damage takes place inside of a place of business. A company that produces, sells, or distributes goods may be held liable for any damage their products cause. The damage could be to people or property. Product liability insurance is a common feature of commercial general liability (CGL) policies, and aids in covering legal fees and other financial damages brought on by defective goods, incorrectly labeled products that cause harm to consumers, and other product risks.
  • Personal and advertising injuries – General liability insurance can assist in covering the costs of your legal defense, as well as any settlement or judgment that may be reached, in the event that you or your employee is sued for slander, libel, or copyright infringement.

 

What Doesn’t General Liability Cover?

On the other hand, there are several things a general liability policy won’t cover, so you will need to purchase other insurance policies to fully cover your business. The list of things that general liability will not cover includes:

 

  • Professional errors – Legal actions arising from professional errors, such as unfulfilled services and missed deadlines, aren’t covered by general liability, but should be covered by professional liability insurance, aka errors and omissions insurance (E&O).
  • Employee injuries – When an employee is hurt at work, their medical bills and disability payments are covered by workers’ compensation insurance, not general liability. In most states, any business with employees is required to have workers’ comp. For more information on workers’ compensation insurance, check out our workers’ compensation state-by-state pages.
  • Lost or damaged property – General liability will not cover lost, stolen, or damaged property, but you can bundle general liability with commercial property insurance in a business owner’s policy (BOP) and get coverage for the cost of replacing company property. Commercial property insurance also covers damage to commercial property caused by a fire or specific weather conditions.
  • Employee discrimination lawsuits – Employee claims of harassment, discrimination, and wrongful termination will not be covered by general liability but should be covered by employment practices liability insurance (EPLI), which also pays court costs.
  • Company vehicles – Business use is almost always excluded from personal auto insurance policies. The majority of states mandate that commercial auto insurance be carried on any vehicles owned by businesses.
  • Liquor Liability – Legal expenses resulting from situations involving customers who drank at your establishment are covered by liquor liability insurance. This can include reckless driving, physical violence, and vandalism. Businesses that serve alcohol must have this policy. You can either buy it alone or combine it with your general liability policy.

 

The Benefits of General Liability Coverage for Small Businesses

The majority of businesses need this insurance, particularly if they rent or own office or commercial space. And even if that doesn’t apply to you, small businesses that interact directly with clients and consumers will also benefit from general liability insurance, since this type of policy can keep your business alive if you’re sued by a client or competitor.

 

And it’s not just small business owners who should consider general liability insurance: independent contractors also benefit from general liability coverage. Independent contractors may be held legally responsible for customer accidents, customer property damage, or advertising injuries, just like any other small business owner, even if they don’t have a physical site or expensive equipment that would require a full business owner’s policy with commercial property insurance.

 

If you’re an independent contractor, you can also ask your clients to add you to their general liability policies as an additional insured if you don’t want to buy your own general liability coverage. As long as you continue to work for the client who purchased your insurance, you are covered. Remember that if your clients add you to their general liability policies, they may pay a higher insurance premium, and that your insurance coverage will terminate when the contract expires.

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How Much Does General Liability Cost for Small Businesses?

According to a recent Hiscox survey, the average monthly cost of a commercial general liability policy is $30. According to the report, only 1% of business owners pay more than $100 each month. And 95% pay less than $50. The cost generally varies based on five factors:

 

  1. Policy terms – Your general liability insurance premium is impacted by the policy’s coverage limits, deductibles, and other specifics.
  2. Your expenses – The higher your operating expenses, the higher your premium.
  3. Building size – Larger structures increase the likelihood of accidents occurring. Therefore, you might pay more if your business is located in a bigger building with higher foot traffic.
  4. Location – Businesses that are located in high-crime areas may have to pay more for liability insurance.
  5. Claims history – If you’ve previously made general liability claims, your premiums can go up. The more claims you’ve made, the higher your premiums.

 

Frequently Asked Questions

  • Does the law require small businesses to have general liability insurance?

Generally speaking, no, but particular businesses, including those in the cannabis and construction industries, may be subject to state mandates. You might also be required to have this type of insurance in order to apply for a professional license in your state, depending on the nature of your business. But it’s important to note that, although commercial general liability (CGL) insurance isn’t normally required by law, your landlord, mortgage lender, business partners, or clients may nonetheless require it. 

 

An ACORD certificate of insurance may be requested by a landlord or client to verify your company’s general liability insurance coverage. This document attests to your company’s capacity to manage any claims for property damage or personal harm. This certificate most importantly gives your property manager, bank, and clients peace of mind that they won’t be forced to foot the bill for a lawsuit against your business.

  • How much coverage do I need?

You’ll need to make sure your general liability coverage satisfies the necessary policy limits if you need to comply with the conditions of a contract or lease. In any case, you should aim for a level of coverage that corresponds to your company’s needs. Essentially, if you want to be sure that your coverage will cover legal expenses if you are sued. To evaluate your exposures and risk of financial loss, take into account the size of your business, the number of employees, and its business processes.

 

To give you a better idea of specific figures, most businesses choose a policy limitation of $1 million per incident and $2 million total. This means that the policy will pay up to $1 million to cover a single claim, with a lifetime (usually annual) limit of $2 million. With commercial umbrella insurance, you can expand your general liability insurance coverage if your company faces significant risks. And with umbrella insurance, your maximum policy limit is higher, allowing your insurance carrier to cover more expensive claims. With all that being said, you also need to make sure you can easily afford the deductible for your policy. In an emergency, your insurance won’t kick in to pay for your liability claim if you can’t afford to meet your deductible.

  • What differentiates general liability insurance from professional liability insurance?

Customer injuries, customer property damage, and advertising injuries are all covered by general liability. Disputes over the quality of professional services are covered by professional liability insurance. Almost all businesses require general liability insurance. But those that offer professional services require additional security against errors and dissatisfied customers. This includes professionals like accountants, attorneys, consultants, and insurance agents. All of which who can avoid costly lawsuits relating to the quality of their work thanks to this professional liability insurance.

 

For certain professions, general liability doesn’t cover libel, slander, and other advertising-related injuries. This includes those in the media and advertising. Instead, these businesses need professional liability insurance, specifically media liability insurance.

  • What types of businesses benefit from general liability?

The following business categories frequently purchase general liability insurance:

 

    • Small businesses/shops
    • Landscaping businesses
    • IT consultants
    • Real estate agents
    • Consultants
    • Marketing companies
    • Cleaning services
    • Independent contractors

 

Why Your Business Should Have General Liability Coverage

Without general liability insurance, dealing with judgements, settlements, and legal costs can be exceedingly expensive and can bring a company to its knees. Consider this: just an hour with a lawyer can cost more than $100. Additionally, court costs could approach $75,000 if the case goes to trial. But you might still have to shell out a few thousand dollars even if the judge dismissed the case. Your business runs the risk of going bankrupt if you don’t have general liability insurance. Additionally, if you don’t have general liability insurance, you can lose clients. Since they won’t do business with you without the proper protections.

Get General Liability Insurance with EZ.Insure!

Working with an EZ agent is the best way to buy your general liability policy. Our service focuses on each customer and creates a supportive environment throughout the shopping experience. Along with our personalized service, we provide immediate results. You will see your agent’s info, as well as your free quotes based on your needs, as soon as you submit a form. We want to help you make the best decision and maximize your savings. There is no hassle, no obligation to buy, and no more headaches, and it’s all completely free. To get started simply enter your ZIP code below or call one of our agents today at (855)-694-0047.

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