General Liability Insurance is one of the most fundamental coverages for any business, small or large. It provides coverage to your business for bodily injury, property damage, and/or advertising injury claims caused by your business operations or product, or occurring (or allegedly occurring) on your premises. Also, this coverage is a standard requirement in most commercial contracts.
General Liability is sold with our Business Property coverage, in a combination sometimes referred to as a "Business Owner Policy."
• Product and Completed Operations
• Personal & Advertising Injury
• Damage to Rented Premises
• Premises and Operations
“Virtually every business should carry “general liability” insurance if you have a physical presence in the United States.”
From the Stripe Atlas Guide on Managing Risk,
Authored by Patrick McKenzie, Stripe
Laptops and smartphones are vital to businesses - so it’s important to guard your company from financial loss should damage occur. This coverage helps protect the assets your business owns that are damaged at your office. This includes things like desks, chairs, computers, and equipment but excludes building fixtures and structures and company-owned cars.
Business Property is sold with our General Liability coverage, in a combination sometimes referred to as a "Business Owner Policy."
• Business Income Interruption and Extra Expense
• Off-premise Business Personal Property
“It took 6 months to get reimbursed for a stolen laptop by our old insurance company. It’s great to see Vouch doing things differently.”
Samiur Rahman, Co-Founder at Journal
In the event of a cyber incident or data breach, Cyber insurance covers services needed to reduce the likelihood of a lawsuit, such as forensic analysis, breach notification support, or credit monitoring services. If a lawsuit unfortunately does occur, our Cyber policy provides coverage for various types of loss, such as defense costs, settlements, or judgements.
Almost 1 in 4 private companies have been victims of cyber attacks.
The Risk Institute at The Ohio State University
Directors and Officers coverage gives financial security and peace of mind to executives and board members when making business decisions. It provides your company with financial reimbursement, allowing you to honor indemnity agreements with directors and officers. Essentially, the contractual promise to cover legal fees, judgments, and settlements that may incur while performing director or officer duties.
Unfortunately shareholder litigation is rising for everyone, and founders need protection. For example, 95% of 2014 merger and acquisition deals involved litigation, compared to just 39% in 2005.
Source: Kevin M. LaCroix
Errors & Omissions Insurance (also referred to as Professional Liability Insurance) protects your business against claims that allege you made a mistake in performing paid professional services for your client or failed to perform a professional service for your client that you agreed to do - and that your error or omission resulted in a financial loss for your client. Even if you're not ultimately found to be responsible, litigation can be costly to your business, so it is important to be prepared.
From hiring to firing, Employment Practices Liability Insurance (EPL) provides protection for your business in the event of alleged discrimination, sexual harassment, or wrongful termination of employees.
Even the best companies make mistakes. Over 40% of businesses will face an employment lawsuit at some point.
Source: Vouch Proprietary Claims Analysis
Your employees depend on benefits, like dental and health insurance, provided by your business. This coverage protects the business and plan administrators for the delivery, enrollment, and administration of employee benefit plans.
Employee Benefits is often purchased with Fiduciary Liability as both are vital in ensuring proper coverage for your business when administering employee benefit plans.
12% of small businesses get sued by their employees every year.
Source: Vouch Proprietary Claims Analysis
If employees or former employees allege that benefit plans had improper investments, insufficient funds, or misleading advice , Fiduciary Liability insurance protects your business and the individuals responsible for creating, managing, and administering those plans.
Fiduciary Liability is often purchased with Employee Benefits Coverage as both are vital in ensuring proper coverage for your business when administering employee benefit plans.
Unfortunately, car accidents can happen anytime, so it is imperative that you protect your business when renting vehicles or using an employee’s car for business purposes. While you or your employees may have personal auto insurance, that will not cover a potentially significant lawsuit against your business.
“Most personal car insurance policies don’t cover business driving because...it’s riskier than personal driving.”
The Vouch team of licensed insurance professionals and former founders are here to help!
Chat with us in the lower right corner of this page.