My partner and I are looking into getting business insurance. Is this necessary for our business? What kinds of things does it protect us/our business from?
Also, we were wondering if there are certain coverages we should be looking at. If anyone has any suggestions or insights, please let us know!!
If you do a search using the Search button on the upper right corner of this page using the word 'insurance' you will see that there are a number of threads where this topic is discussed. Here's one such thread that can help answer your question. Insurance for virtual assistant business?
The category 'General Legal' issues where you posted your question will help with insurance and any attorney questions as well.
Best of luck to you!
Janine
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I don't have insurance for my business (an LLP). I do know many VAs who do medical and/or legal transcription or filings and they have insurance specific to their services. For what I mainly provide (consulting, SEO, web development, etc.) I don't feel it's necessary.
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I am a bookkeeper so I have E&O insurance and a surety bond. I also occasionally have clients come to my house so I have a business liability rider on my home policy.
Insurance purchases should be based on your potential liability which is dependent on your business.
I do have E&O insurance but have no other insurance on my business. Like Janine replied there are many threads on this subject and you may want to check them out.
You should also check with your municipality to see if they require you to carry any business insurance if you work from your homes. Mine does not since I do not have clients come to my office or have any additional signage.
Yeah we didn't take it into consideration until someone told us about it. We just want to make sure we are covered in all areas since we handle personal information from clients. W have a customer privacy agreement in our contract, but it may be helpful to have more coverage.
Should I have Business Insurance?
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