By Steve Stanley, Farmers Insurance
Q. As a small business owner, do I need general liability insurance?
A. If you are leasing a space, most landlords will require that you carry general liability. Depending on the size of your space and the type of business you have, you can insure your business very affordably.
Q. What if I run my business out of my home?
A. Having a business at home still comes with risk. If you have a product you are selling and someone is injured using it, you could be liable for their injuries. If you are own a business that gives advice (accountant, consultant, etc.), then you are responsible for the instruction that you give your client. If they feel the advice you gave hurt them, you could be liable as well.
Q. What if I use my car for business?
A. Depending on the type of business you have, you may be able to endorse your personal auto policy to include coverage for your business pursuits. For most businesses though, having a commercial auto insurance policy will be the best way to go. You don’t want to have an accident and the insurance company deny the claim because you were using your vehicle for business purposes.
Q. As an Uber/Lyft driver, do I need to carry special insurance for my car?
A. Yes, Farmers is one of the companies that allows you to endorse your auto policy for rideshare use. If you do not have this endorsement, there may be significant gaps in your coverage.
Q. As a contractor, what type of insurance do I need?
A. General liability is almost always required in most contracts and there may be other endorsements required like additional insureds, waivers of subrogation and primary and non-contributory language.
Please reach out for a free evaluation, to be sure that you have the best available coverage for your business. Our office is on the corner of 40th St. and Greenway or call 623-742-1280.