Business Liability Insurance from Nationwide

Business liability insurance is something you cannot do without. As someone who runs a business, you are familiar with the day-to-day uncertainties of small business management. Isn’t it nice to know that you and your business can depend on premium business liability insurance from Nationwide?

Nationwide understands you need complete business protection not just your “one size fits all” coverage. We cover medical expenses, attorney fees and damages when you are legally responsible and other situations that may not have even crossed your mind, regardless of your planning.

We understand all of the hard work you have spent on your business plan – the number crunching, careful planning and endless hours you’ve invested. And because accidents can – and do – happen, Nationwide’s professional liability insurance can protect you and your business. For example,

Did you know?

Any individual or business providing an opinion, making recommendations, designing solutions or offering a service is at risk for a professional liability lawsuit?

Nationwide can help with defense costs, regardless of fault. And we offer protection for judgements, court costs and more

GET THE SMALL BUSINESS LIABILITY COVERAGE YOU NEED

Your insurance needs are unique to your business. Based on the business liability insurance requirements for your company, we can work with you to determine the right type of general business liability insurance coverage for every stage of your business.

We offer coverage for:

• Professional liability insurance
• Products and completed operations
• Fire legal liability
• Medical payments
• Premises liability
• Employer’s liability insurance, employee benefits liability and employment-related practices liability

Business Recovery: Planning for Disaster

It is impossible to know when a disaster such as a flood, hurricane, earthquake or tornado is going to strike. When it does, the ability of your business to weather the storm and quickly resume normal operations may depend on the measures you take today.

Here are a few tips:

• Prepare an inventory of the items and equipment used in your business. You may also want to videotape these items and then store both the inventory and the video in a safe location, away from your property.
• Back up your business computer records at least weekly and store a copy of this information in a safe location off-site.
• Develop a list of your computer hardware and software, including model names and serial numbers. Also include the name of one or two computer equipment suppliers who could assist you in setting up in an emergency.
• Consider where you could temporarily relocate your business in an emergency to continue operations.
• Construct a financial plan to cover continuing payroll expenses and debt obligations.
• Keep a name and telephone number list of contractors or repair firms who could make emergency temporary repairs or board up windows should some of your buildings be damaged.
• Maintain a list of key suppliers, creditors, customers and employees you need to contact in case your business operations are interrupted. Consider occasionally using suppliers outside your local area so you have a source for items should your local suppliers also be impacted by the disaster.
• Keep a list of your insurance policies with your agent's name and telephone number.

If disaster strikes

If your business has incurred damage, contact your State Farm® agent. If you have already reported your claim, your claim representative will assist you with your questions and will provide helpful information regarding the claim process.

While not a comprehensive list, the following ideas can help get your business back on the road to recovery.

Safety First

The safety of employees and the general public, as well as verifying your business is operational, should be a priority. Whether you own your building or not, the safety of employees, customers and others who might be on the premises is an important consideration.

• If you own the building, take prudent steps to determine the building's safety and the extent of damage.
• Make temporary repairs necessary to protect your property from further damage, such as boarding up windows or doors and covering holes in the roof.
• If you do not own the building, notify the owner of any damage.
• If the building is not useable, consider an alternative location to conduct your business. Discuss relocation plans with your claim representative.
• In the event utilities, phone service, gas lines, etc. need to be restored, contact the appropriate companies for repair service.
• Consider restoration of damaged fire detection and sprinkler systems.

Security

In post-disaster situations, the physical security of your building and contents should receive immediate consideration.

• Determine what actions are needed to secure entry points to unstable buildings, reducing the likelihood of unauthorized people gaining entry.
• Consider restoration of burglar alarm systems,
• Consider the possible need for security guards in the event additional protection is needed to reduce the chance of further loss to your business property.
• If you do not own the building, work with the owner to determine the best means to protect your property.
• If necessary, relocate equipment and property to a protected area.

Damage Assessment and Cleaning

Perform an inspection of your property. Compile a complete description of damage, including damage to your building, equipment and inventory.

After itemizing, set damaged property aside and in the best possible order for examination. If circumstances require immediate disposal of any property, it is advisable that photographs or other documentation be retained in order to identify all items destroyed.

Consider the condition of the ventilation, drainage and other sanitation systems within the building. If you and your employees are involved in clean-up activities, consider appropriate safety gear such as gloves, eye goggles, etc.

Business Interruption

Your business insurance policy may respond to the loss of business income from an insured loss. Review this coverage with your agent and/or claim representative.

If your policy provides business interruption coverage, the following items will assist you in the claim process:

• Historical sales records
• Income and expense information as shown in recent profit and loss statements and/or income tax forms.
• A record of extra expenses incurred to resume business operations after a covered loss. Such expenses could include temporary rental space, temporary equipment rental and moving expenses.
• Receipts/records for damaged inventory.
• Other business records that may help project what your business's profits might have been had a loss not occurred.

Business Liability Insurance Options: Customizing Your Policy

Business liability insurance is a critical part of any insurance portfolio, regardless of your industry. Nationwide offers great basic plans that can be easily customized with a wide variety of business liability insurance options to give you the coverage you need. The first steps are to shop, compare plans and weigh the options.

"It's not uncommon for a business owner to purchase a policy from the first company he talks to," says Brenda Miller, Sales Supervisor for Nationwide. "And too often, that quick decision means he didn't discuss the commercial liability insurance options which can leave the company vulnerable."

You can enhance a basic commercial liability insurance policy with additional coverage, known as endorsements, that meet the specific needs of your business. Typical liability insurance endorsements include:

Employment Related Practices Liability Insurance

This insurance covers wrongful termination, wrongful refusal to employ, invasion of privacy, or defamation claims made by your employee against you, the employer.

Directors and Officers (D&O) Liability Insurance

Provides coverage for situations where a poor decision was made by a company’s board of directors or officers resulting in a claim for damage. Coverage can be provided for condominium associations, golf courses, and churches.

Liquor Liability Insurance

Protects you against claims for injury sustained by reason of you selling, serving or furnishing any alcoholic beverage during the course of your business operations.

Hired and Non-Owned Auto Liability Insurance

Provides auto liability coverage for short-term auto rental (hired) or for employees using their personal auto (non-owned) during the course of business.

Professional Liability Insurance

Protects you and your business from potentially catastrophic litigation caused by charges of professional errors, mistakes or failure to perform your professional duties.

Product and Completed Operations Liability Insurance

Provides protection for bodily injury and property damage that occurs away from your premises that are caused by your products or your work. The amount of coverage and the level of risk all depend on the business type.

Fire Legal Liability

Provides coverage for fire damage to a premises you rent or occupy with the landlords permission. You must have been negligent in causing the fire for this coverage to respond.

Errors and Omissions Liability Insurance

Protects you and your company in the event of a negligent act, error or omission. This coverage is similar to Professional Liability however, it applies to vocations where performance, formal study and licensing standards apply but they are not held to the same very high standard of care required by medical and other professional trades. Coverage can be provided to building trade contractors (negligent act), and printers (errors in printed document).

Umbrella Policies

These policies extend coverage over and above your other liability coverage. It’s designed to protect against unusually high losses when the policy limits of one of the underlying policies have been used up.

Commercial Property and Liability Insurance: Separating Fact From Fiction

If you’re feeling confounded over your choices of business insurance policies, don’t worry – you’re not alone. It can be overwhelming when you start thinking about everything that could go wrong – and what insurance you might need to protect yourself and your business.

For example, you may think you need to buy commercial property insurance liability coverage. In reality, this specific type of insurance doesn’t exist in a single policy. What’s recommended for small and medium businesses is coverage provided by different coverages , such as commercial liability insurance and business property insurance. Another option is a basicbusiness owner’s policy, which includes elements of both, in addition to other types of coverage specifically for your business.

Let’s take a closer look at these different types of insurance.

Commercial liability insurance

A commercial or business liability insurance policy pays for losses arising from real or alleged injury [that results in a lawsuit filed against your company]. It covers bodily injury occurring on your business premises or arising from your operations, such as someone falling and breaking an arm, property damage such as an appliance installation worker damaging a family heirloom. And, it also protects you for such things as libel, copyright infringement or wrongful eviction. For anyone owning a business, commercial general liability insurance is something you cannot do without.

Property Insurance

Property insurance is any type of commercial insurance that reimburses a party that has suffered a loss because property has been damaged or destroyed. “Property” is considered to be any item that has value, and is classified as real property, such a building; or personal property, such as someone’s computer.

Basic property insurance policies typically cover explosions, fire, lightning, windstorm, hail, smoke, aircraft or vehicle damage, vandalism, sprinkler leakage and sinkhole collapse. Additional coverage can be added for water damage, damage from the weight of snow, ice or sleet, breakage of glass and coverage for falling objects.

Business owner's policy (BOP)

Sometimes known as a BOP, this policy combines standard levels of property, liability and other types of coverage (known as endorsements), which can be added to customize the policy and meet the specific needs of a business. A business owner’s policy is usually recommended for businesses with less than 100 employees and under $5 million in sales.

Contact a Nationwide agent today, and learn why this is one of the easiest business decisions you can make today.

Business Insurance - Managing Your Risk

Business insurance protects you and your business with coverage for claims related to allegations of negligent activities or failure to use reasonable care. As one of America's leading online providers of business insurance for computer consulting and IT services firms, TechInsurance has helped thousands of businesses and individuals get the small business liability insurance they need. When you buy insurance from us, you get exclusive access to the years of experience and expertise we have accumulated in the business insurance industry. You need business insurance specifically designed to address the risks associated with IT services.

GENERAL LIABILITY INSURANCE COVERAGE

TechInsurance works with leading carriers such as Hartford Insurance to provide Commercial General Liability insurance and Workers Compensation insurance for as little as $350 to $500 each per year. Check out our general liability insurance and property package policy that provides small business liability insurance as well as protection for your company's computers and other assets.

PROFESSIONAL LIABILITY INSURANCE

Professional Liability insurance provides protection against claims that the policyholder becomes legally obligated to pay as a result of an error or omission in his professional work. Also known as Errors and Omissions insurance, this type of professional liability insurance is critical to your business. E&O insurance responds to claims of professional liability in the delivery of your technical services. Allow us to customize an errors and omissions insurance policy for you that is affordable and effective.

Landlord Building Insurance

Landlord Buildings Insurance protects your rental property against damage to the building from events such as a fire or flood. Simply Business can give you a choice of quotes to compare and buy, which can include buildings insurance. There are also a choice of optional covers that can be included in your policy.

WHAT DOES LANDLORD BUILDINGS INSURANCE COVER?

Buildings Insurance for landlords covers the cost of damage to your property caused by certain events, such as a fire or flood. The price of the insurance is normally calculated to take into account the complete re-building of the property. Buildings insurance does not cover the contents of the building so separate cover must be taken to protect items such as furniture.

WHY CHOOSE SIMPLY BUSINESS FOR YOUR LANDLORD BUILDINGS INSURANCE COVER?

With Simply Business you can compare buildings insurance quotes for your buy-to-let or commercial let as part of a comprehensive landlord insurance policy.

• compare a range of landlord insurance quotes from leading insurers
• tailor your insurance to meet your needs
• buy your insurance online in a few quick steps
• receive your insurance documents electronically within seconds of your purchase
• call our UK contact centre if you need help

Landlord Insurance

Landlord Insurance is important to have if you own one property or many properties. Landlord Insurance can cover various risks that come with owning and renting a property. With Simply Business you can compare quotes for Landlord Insurance to find the best level of cover for your property and at the best price.

WHAT DOES LANDLORD INSURANCE COVER?

Major risks – Your property will be covered for major risks such as fire or flood

Landlord Liability Cover – You will be insured for injury caused to another person in relation to your property

Tenant default – This insurance can be added to your policy if you want peace of mind that you will be covered to be able to pay your mortgage if your tenants default on their rent payments

Employers’ Liability Cover – If you employ anyone in relation to your property you will need by law to have Employers Liability Insurance. This will protect you if an employee is injured or falls ill whilst at work

Other cover – You may wish to include with your policy other cover such as terrorism, legal expenses and accidental damage

WHY CHOOSE SIMPLY BUSINESS FOR YOUR LANDLORD INSURANCE?

Simply Business gives you the ability to compare different quotes and buy your insurance online. With us you can:

• compare quotes for your Landlord Insurance from leading UK providers
• tailor your insurance to meet your needs so you receive the level of cover you would like and any additional cover you think you will need
• buy your insurance online in a few quick steps
• receive your insurance documents electronically within seconds of buying your policy
• speak to a customer service advisor at our UK contact centre if you have any questions or need help with choosing the insurance that is right for you

TAILOR YOUR LANDLORD INSURANCE TO MEET YOUR NEEDS

With Simply Business you can make sure that your insurance meets your needs as a landlord.

If you have any questions about what type of Landlord Insurance you think you should buy or you are not sure if you have received the best quote for you, you can speak to a customer advisor at one of our UK contact centres who will be able to get you the quote that is best for you.