by leeleerambles » Wed Nov 02, 2011 02:54 pm
Obviously everyone knows almost any company, even a small one, has to have general liability insurance. And a small company would not need to have more specialized types of insurance like employment practices liability insurance.
But what is general opinion, do you think there are other types of business insurance for a small company? And as a small business owner, would you be interested in using an insurance broker or would you try and set up your own business insurance? If you would not use an insurance broker, why not? Thanks, I am curious to know for our own understanding, as brokers. Thank you!
But what is general opinion, do you think there are other types of business insurance for a small company? And as a small business owner, would you be interested in using an insurance broker or would you try and set up your own business insurance? If you would not use an insurance broker, why not? Thanks, I am curious to know for our own understanding, as brokers. Thank you!
Posted: Thu Nov 03, 2011 06:32 am Post Subject:
A small company in the insurance predict the future there will be a uncertain factors, so general will not choose them, this is the reason for the choice of a lot of people don't,
:oops:
Link removed as per TOU
Posted: Mon Jan 09, 2012 04:27 pm Post Subject:
Other than general liability insurance, small business owners can opt for product liability insurance, professional liability insurance (also known as errors and omissions coverage), business income insurance (disability coverage to protect the business from any loss of income arising out of a temporary shutdown), and commercial property insurance. Depending on the nature of the business, there can also be other coverage options like auto insurance for a business primary dealing in transport. If the business operates out of home, there is home-based business insurance to consider. General homeowners policies don’t cover losses incurred by home based businesses. Riders can be added to the current homeowners policy to cover certain risks like general or professional liability.
Posted: Tue Jan 10, 2012 06:38 am Post Subject:
Other than general liability insurance, small business owners can opt for product liability insurance, professional liability insurance (also known as errors and omissions coverage), business income insurance (disability coverage to protect the business from any loss of income arising out of a temporary shutdown), and commercial property insurance. Depending on the nature of the business, there can also be other coverage options like auto insurance for a business primary dealing in transport. If the business operates out of home, there is home-based business insurance to consider. General homeowners policies don’t cover losses incurred by home based businesses. Riders can be added to the current homeowners policy to cover certain risks like general or professional liability.
There are a few things wrong with this post .... let's start with this one:
professional liability insurance (also known as errors and omissions coverage.
While E&O is considered professional liability coverage, professional liability insurance is NOT also known as "errors and omissions" insurance. There are TONS of different scenarios and situations in which professional liability has NOTHING to do with E&O. For example, medical malpractice is NOT E&O coverage. It's medical malpractice coverage.
business income insurance (disability coverage to protect the business from any loss of income arising out of a temporary shutdown)
Disability insurance specifically deals with one's inability to perform gainful work if disabled and has nothing to do with property insurance.
No homeowner's insurance policy can be endorsed to cover true, professional or other liability. HO policies can take on minimal business exposures, but nothing like D&O, malpractice and more severe exposures.
More later, if I can.
InsTeacher 8)
Posted: Mon May 07, 2012 09:35 am Post Subject:
Thanks friend for discussion for this topic .. i want to also my views about business insurance for big company and small company..Small Business owners insurance – It is a package policy protects against losing to the building, computer etc, small business insurance, business owner insurance, small business liability insurance, insurance for business owners.
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