small business insurance

Q.: We are setting up key man insurance policies, and one of the spouses asked whether the business could pay for the family’s term life insurance policy as a benefit from the business.  Can a partnership use a partner’s family term life insurance policy as a business expense, with the intention of using the policy […]

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Many entrepreneurs have law questions about small business insurance.  Small business insurance provides a vital layer of liability protection against claims foreseen and unforeseen … regardless of whether you were at fault or not. From my Ask Entrepreneur column, here are law questions about small business insurance that other entrepreneurs have had—and maybe you do, […]

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Q.:  My friend and I are trying to start a construction cleanup business. We’re wondering: Do we have to get small business insurance if we are the only ones working? Are there any other legal factors we should consider? A.:  Yes, yes, a thousand times YES!  Any business that deals in high-risk and related activities, […]

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Q.: I’m starting up a children’s art class business in my home and would like to know how to protect myself from being sued in case of injuries to children. I can’t afford to pay for insurance at this time and although I don’t have anything dangerous in my studio, I would rather be safe […]

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Q.: What type of small business insurance is needed for a virtual office situation that spans more than one state?  My small business is an S-Corp with employees in Florida. A.: Regardless of your form of business entity, having small business insurance provides another important level of protection. There are various kinds of small business […]

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Q.: I recently got laid off from my full-time job. My small business only makes enough to cover my business expenses. Can I still collect unemployment from my full-time job even if I have a sole proprietorship? A.: Generally, you cannot get unemployment coverage if you are a small business owner.  The purpose behind unemployment […]

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Q.: Am I required to have workers compensation coverage if I am the sole employee/owner? A.: Generally, if you are self-employed, you are exempt from the requirement to have Workers’ Compensation coverage to cover yourself.  However, the minute you add an employee, get that in place – pronto! Some states do allow you to “opt in” […]

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Q.: I will be providing a maid service as an independent contractor and will start with one or two maids but don’t know how surety bonding works. If I am an independent contractor for a maid service, do I have to bond each maid, or just have one bond for the company? Also where, and […]

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Q.: I wanted to start an automotive maintenance course to teach people how to change a flat tire, do their own oil change, etc. However, the downfall here is I am concerned that I could be held liable for any mishaps. Do I actually need to have business liability insurance? I know it is probably […]

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Q.:  We are in the process of selling our C Corporation. What kind of small business insurance can I get to make a stock purchase attractive to our buyer? Also, what kinds of small business insurance are available to the buyer to protect against liability? A.:  Generally, when a buyer purchases your company stock (and, […]

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