When you open a business, you first think about the name, logo, and concept. You spend hours researching your market and finding the best suppliers and vendors to help you build your brand. But the first thing most of us don’t think about is the possibility that our business could be sued. This happens much more frequently than you think.
A lawsuit does not have to be the end of your business. If you’re a small business owner in the greater Boston, MA community, Smoller Insurance Agency can help.
Will Business Insurance Cover Me If I’m Sued?
Yes, if you have the right coverage. Business insurance, also called commercial insurance, can have different types of coverage. Some of the most common types of coverage include property, general liability, and excess liability.
When you are sued for damaging another person’s property or causing bodily injury or death in your business, liability insurance can help you pay for the damages. When you purchase a Business Owners Policy (BOP), it will typically include liability coverage.
Do I Need Business Insurance To Operate Legally?
Two types of insurance are required to legally operate a business in Massachusetts: worker’s compensation and commercial automobile.
Worker’s Compensation – This is mandatory insurance that covers your employees if they are injured on the job. It is required for all your employees whether or not they are full-time. Sole proprietorships or self-employed individuals are not required to have worker’s compensation, but they can elect to have it.
Commercial Auto – As a no-fault state, Massachusetts mandates that all drivers must have Personal Injury Protection (PIP), liability insurance, and bodily injury liability insurance. This is true even for vehicles that are used for business purposes.
Contact Us Today
Make sure your Boston, MA business is covered! Contact Smoller Insurance Agency today to see how we can help you.