General liability insurance is often combined with property insurance in a Business Owners Policy (BOP), but it’s also available to many contractors as a stand-alone coverage. As a contractor or small business owner, you need some form of general liability protection to safeguard your livelihood. A single accident could result in a lawsuit that you might not be able to handle. A great way to protect against this is to make sure you have liability coverage that matches your level of exposure. Some employers or clients might also require you to carry a certain amount of general liability before you can work for them.
You may need a Commercial Policy If:
• You are using your vehicle to transport goods or people for a fee
• You use your vehicle to conduct a service
• You need higher limits of liability because of the nature of your work
• You are hauling a considerable weight in tools or equipment or towing a trailer used to conduct your business
• Employees operate the vehicle or if ownership is in the name of a corporation or partnership
Many business uses and vehicle types may be excluded from personal policies, so be sure you have the right coverage.
This policy protects your employees if they suffer an injury or become ill while on the job. This is mandated by the state if the business employs more than a certain number of employees, and the threshold varies by state. It also protects your company from being sued by employees for workplace conditions that can cause harm.
EPLI (Employment practices liability insurance)offers employers coverage in the case of a variety of employment-related issues, such as wrongful termination, discrimination, and sexual harassment. This coverage helps pay any settled damages and the legal defense costs of such claims
Why get it?
The risk of facing an employment-related claim grows as your business increases the number of employees and number of individuals in managerial roles. EPLI helps to protect your business in the case that an employee alleges discrimination, wrongful termination, harassment and other employment-related issues