Small business insurance
The questions you’ll need to answer to get an insurance quote will vary based on the policy. If you have this information on hand before you apply, you can save time and avoid headaches.
Liability claims can be a threat to your business. If you’re accused of injuring someone, damaging property, or causing other harm it could easily turn into a costly lawsuit. That’s why it's important to have the right insurance protection in place to cover a range of potential liability risks.
Typically, you need to contact your insurance carrier directly when you want to file a commercial insurance claim. But the steps you take may differ based on whether you're filing a property claim or a liability claim.
Business insurance cancellations can lead to increased premiums and risk exposure. Before you cancel your policy, first consider these factors.
Small business insurance provides financial protection against common accidents, liability claims, and damages that could impact your small business.
Underwriting is the process of assessing risk by looking at a tech company's credit score, claims history, and other factors.
A qualifying event is any significant change to your business that affects your insurance requirements.
An insurance binder is a temporary document provided by the insurance company to serve as proof of insurance until the insured party receives their actual policy.
Insurance agents are licensed professionals who help small business owners protect their companies with insurance. When you file a claim or need to increase your coverage, your insurance agent may be your first point of contact.
A grace period is the additional time your insurance company gives you to pay your premium before your coverage expires.
An expiration date is the day your insurance policy lapses. Your insurance coverage will typically end at midnight on your policy's expiration date.
An ACORD certificate of liability insurance is a document that provides a summary of your business insurance policy and proves you have liability insurance coverage.
The average premium cost for professional liability insurance (also called errors and omissions insurance) is about $60 per month. Your industry and the scope of your services affect the exact cost of this policy.
Technology errors and omissions insurance (tech E&O) and cyber insurance are two forms of protection against cyberattacks for small businesses. While tech E&O focuses on cybersecurity errors that harm your clients, cyber insurance offers financial coverage for breaches that directly affect your business.
Both professional liability insurance and errors and omissions (E&O) insurance offer financial protection from client lawsuits over unsatisfactory work. They’re essentially the same types of coverage for mistakes in professional services.
