Non-owned auto and hired auto coverage is best for those businesses that rent or lease vehicles, or ask employees to use their own vehicles to assist with the business. Remember, and this is really important…commercial use of your personal vehicle is likely NOT covered under your personal auto policy. Make sure you keep this in mind when deciding on auto coverage for your business.
FAQ_category: Business Owner's Policy (BOP)
General liability vs. business owner’s policy (BOP). The big throw down! Actually, not really – this should be pretty straightforward. General liability insurance policies do not cover property risks. If your business rents or owns buildings, inventory, equipment, fixtures, or has employees, you should consider purchasing a business owner’s policy.
This is really dependent on the number of people you employ. In general, the more members on your team, the higher the risks, and the more likely the need for a standalone policy.
Stand alone employment practices liability policies generally cost between $1,000-$2000 annually. These prices are dependent on your business type and can reach up to $1,000 a year for riskier endeavors, such as working in construction.
Employment practices liability insurance protects you from the risks of hiring, firing, and employing workers and staff. This insurance is useful if an employee or former employee sues you for issues like failing to promote, wrongful termination, or mishandling of benefits.