Small Business Insurance

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Small Business Insurance

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Small Business Insurance

Accidents and incidents can happen during normal operations at any small business, leading to costly lawsuits that can be challenging to manage on your own. As a business owner, you can avoid these high costs and experience true peace of mind by having small business liability insurance. With all kinds of coverage options from XINSURANCE, our customized plans will protect your business against risks ranging from property damage and bodily injury to communicable disease coverage.

small business insurance from XINSURANCE
small business insurance from XINSURANCE

Information About Small Business Insurance

Types of Small Businesses We Cover

Having general liability insurance — also known as business liability insurance — ensures your business has a safeguard in place to protect against claims. This coverage aids in situations where you frequently interact with clients, access your customers’ property or use third-party locations. Without it, you’ll be solely and legally responsible for covering the costs if someone gets hurt or property gets damaged.

At XINSURANCE, we’ll keep you protected. We provide coverage for all kinds of small businesses, including:

  • Automotive
  • Consulting
  • Contractors
  • Landscaping companies
  • Outdoor guides and tours
  • Amusement and recreation
  • Restaurants and bars
  • Entertainment industry
  • Pet services
  • Personal trainers
  • Real estate agencies
  • Car wash services
  • And much more

Why You Need General Liability Coverage

No matter the size or type of your small business, there are several reasons to have general liability insurance. Even when you take steps to minimize potential problems, there are risks involved in running any business.

With general liability insurance, your small business will have increased financial protection to navigate and overcome claims. Lawsuits can result from reasons ranging from omissions to slander to negligence. Even if you are a contractor, it’s still important to have general liability insurance, as you’ll be susceptible to the same risks in the workplace.

Some of the most common claims involve:

  • Property damage
  • Bodily injuries
  • Medical payments

Other Types of Liability Coverages We Offer for Small Businesses

At XINSURANCE, we offer different kinds of liability coverage solutions for small businesses. You can customize your policy that meets your individual needs or work with an underwriter to evaluate your needs.

Some popular coverages include:

  • Active Shooter Liability Coverage: Liability protection during an active shooting taking place at your company’s property.
  • Alleged Assault and Battery Liability: Coverage for claims against you regarding assault or battery.
  • Alleged Sexual Abuse and Molestation Liability: Coverage for claims against you regarding sexual abuse or molestation.
  • Animal Liability: Provides coverage for third-party bodily injury and property damage caused by an animal you own.
  • Commercial Auto (available in most states): Provides auto liability coverage in most states for your company- or personally-owned vehicle that is primarily for business purposes.
  • Commercial General Liability: Provides coverage for injuries and property damage sustained by third parties.
  • Communicable Disease Coverage: This policy enhancement provides coverage for negligent exposure to any Declared Pandemic Disease or Pathogen, including the virus that causes COVID-19.
  • Directors and Officers (D&O): Protects people from personal losses if they are sued for serving as a director or an officer of an organization.
  • Employment Practices Liability Insurance (EPLI): Covers liabilities related to employment that aren’t on-the-job injuries. Some examples may include sexual harassment suits and wrongful termination suits.
  • Equipment Coverage: Coverage for equipment, including rentals, used on the job in case of malfunctions or theft.
  • Firearms Liability (available in most states): Coverage for concealed carry, accidental discharge, and more, for both personal and commercial use in most states.
  • Hired & Non-Owned Auto (available in most states): Covers expenses for third-party property damage and bodily injury when an accident occurs with a vehicle used for business purposes that the company doesn’t own.
  • Individual/Personal Liability: Personal liability protection in the event of an accident and a claim is made against you.
  • Liquor Liability: Coverage for businesses that provide alcohol sale, service, or furnishing.
  • Motor Truck Cargo: Covers physical damage while transporting goods.
  • Pollution Clean-Up: Covers the costs associated with pollution clean-up caused by your business.
  • Premises Liability: Protects against claims for slips, trips, and falls on the property due to negligence.
  • Products Liability: Protects your business from claims that a product you made, sold, or distributed caused third-party bodily injury or property damage.
  • Professional Liability: Coverage for claims regarding negligent acts and more.
  • Property Coverage: Covers the building and the contents within it from fires, storm or wind damage, vandalism, and theft.
  • Riot and Civil Commotion Liability Coverage: Liability protection against claims made from a riot or civil commotion.
  • Special Events Liability: Covers bodily injury to a guest and property damage to the venue — such as the building or its equipment — for private and public events.
  • True Umbrella / Excess Liability: Additional coverage to fill the gaps and exclusions in your existing policy.
  • Weapons Coverage: Coverage for third-party property damage and bodily injury caused by a weapon used for personal or commercial purposes.

Don’t see a coverage you’re looking for? We may be able to help you still. Because we provide customized coverage, all you have to do is let us know what you need to be covered, and we’ll find a policy that suits your needs. Please note that we do not provide workers’ comp.

We encourage you to reach out to learn more or browse our complete product line to get started.

Benefits of Our Liability Insurance for Small Businesses

At XINSURANCE, our underwriting team has over 40 years of experience helping small businesses. When you choose to protect your business through our coverage, you’ll experience several benefits, including:

All-In-One Approach

All your exposures will be covered under one policy. This partnership approach allows your small business to take advantage of underwriters, risk management, and claims management as well as broader coverage — up to $10M limits.

Comprehensive and Customized Coverage

We understand that your small business is unique, which is why we work with you to create a personal protection plan. With customized limits, premiums, and deductibles, you’ll experience a plan that works for you.

Protection and Peace of Mind

If you own a business that other insurance policies won’t or can’t cover, we can help. With liability insurance policies that cover areas traditional coverage won’t, you’ll minimize exposures and experience peace of mind.

Nationwide Coverage

No matter your location, we’ll help you get the insurance solutions you need. We offer coverage across the United States with minimal exceptions, like workers’ compensation. We’ll provide peace of mind with protection 24 hours a day, seven days a week.

Frequently Asked Questions About Liability Insurance for Small Businesses

If you have any questions about obtaining liability insurance for your small business, XINSURANCE can help. Here are some of the most frequently asked questions about this coverage:

Is Liability Insurance Covered by Law?

Some small businesses are not required to carry general liability insurance. If you don’t have insurance, though, you will need to be prepared to pay for all of the expenses related to any claims. Having a customized insurance policy can help you with legal and medical fees and bills.

Will I Have A Deductible?

Yes, your policy will include a deductible or self-insured retention (SIR), depending upon the type of coverage you choose. Physical damage coverage will include a deductible, and liability coverage will include a liability deductible or an SIR. The SIR is a specified dollar amount you must pay before your policy responds to a loss. The deductible is a portion of a covered loss that the insurer does not pay. We can customize the deductible/SIR amount to fit your business’s needs.

Does Small Business Insurance Cover Injuries?

General liability insurance can cover against claims that a third party has for their bodily injury if your business is legally liable.

Does Small Business Liability Insurance Cover Negligence?

Small businesses typically obtain general liability insurance coverage. Depending on the conditions and exclusions of the policy, general liability insurance typically does provide coverage for accidents involving bodily injury or property damage arising from your negligence. As a business owner, however, you may want to expand your coverage to also include professional liability insurance coverage. This kind of coverage broadens your protection. Professional liability insurance typically provides coverage for wrongful acts (like bad advice or instructions) resulting in damages that may be something other than bodily injury or property damage (like lost investment opportunities).

Get a Quote On Liability Insurance For Your Business

When it comes to protecting your business, general liability coverage is an excellent first step. A liability coverage program can be your safety net against unforeseen circumstances. With help from XINSURANCE, you can protect yourself in case of emergencies, accidents, and more.

Start experiencing true peace of mind knowing that your small business is protected against costly claims. We’ll help you obtain the most comprehensive, customizable coverage available. Contact us today to learn more about our all-in-one approach and receive a free personalized quote.

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