Insurance and Liability

Operating a small business has its rewards but also carries its fair share of liability, including the potential for slip-and-fall lawsuits and claims for defective products. As a small business owner, understanding your liabilities and obtaining the necessary small business insurance policies is critical. The following resources cover a wide variety of small business insurance and liability issues, including how to find an affordable workers' comp plan and insuring a home business.

Overview:

• Business Insurance Plans: Basics - Overview of the different types of small business insurance plans.
• Why You Need Business Insurance - Scenarios illustrating the importance of small business insurance.
• Types of Commercial Insurance - Overview of builder's risk, business interruption and other types of commercial insurance.
• Director & Officer Liability - Liability for claims against company executives and how to insure against it.
• Business Liability & Release Forms - The limits of forms purporting to release the liability of a business.

Insurance Tips:

• Business Insurance Do's & Don'ts - What to do, and not to do, when shopping for small business insurance policies.
• Ten Tips for Saving Money on Insurance - How to get low business insurance rates, such as choosing a higher deductible.
• How to Keep Workers' Comp Costs Under Control - Ten ways to keep workers' comp insurance costs low but still adequate.

Business Liability for Car Accidents & Employees' Acts:

• Driving on Company Time - Primer on employer liability for traffic accidents occurring on the company's clock.
• Employer's Liability for Employee's Acts - How employers can be held liable for accidents, harassment and other incidents involving employees.
• Office Parties and Employer Liability - Overview of employers' liability for DUI, harassment and other potential office party mishaps.

Slip-and-Fall Accidents:

• Small Business & Slip-and-Fall Liability: Basics - Overview of premises liability claims as they pertain to small business owners.
• How Indoor Slip-and-Fall Accidents Happen - Common ways customers and employees get injured inside business facilities.
• How Outdoor Slip-and-Fall Accidents Happen - Common factors leading to customer and employee injuries on business grounds.

Product Liability:

• The Small Business Owner & Product Liability - Overview of product liability and how it pertains to small business owners.
• Defending Against Product Liability Claims - How to protect your small business from product liability claims.
• If Your Product Causes Injury After Business Closes - How the law handles product liability claims against defunct businesses.

Tools & Resources:

• Making an Insurance Claim - Checklist of steps every small business owner should take when making an insurance claim.
• Minimizing Small Business Risks & Losses - Checklist of ways small businesses can minimize the risk of liability, including injuries and theft.
• Five Tips for Buying Insurance (DOC) - Advice on how to purchase small business insurance.
• Insurance Options for Business Continuation (PDF) - Business insurance options for when a company undergoes major changes, such as loss of a key employee (Small Business Administration).

See Also:

• Insuring Your Home Business - How to make sure you have adequate insurance coverage for your home-based small business.