Scottsdale Business Liability Insurance

Scottsdale business liability insurance is a must for small businesses. If your Scottsdale company encounters a lawsuit, you will face very high legal fees. Business litigation is almost always extremely expensive, and it costs enough to put (uninsured) Scottsdale companies out of business. Also, if you're considered to be at fault, a good policy will cover the damages you face as well as the attorney fees.

Some business owners claim they have no assets, and therefore need no protection. However, every company has some sort of property or equipment that needs to be protected from liability, damage and loss. You also need to protect the income from your company (and, if you plan on being successful, there will be income!). If you still aren't sure why you need insurance, ask a Scottsdale business liability insurance expert to explain why most businesses require a commercial liability policy.

Business Owner's Policy (BOP)

Many small businesses choose to have a Business Owner's Policy (BOP) to protect their company. BOP combines both the necessary Scottsdale business liability insurance and Arizona property insurance. It's generally a more affordable package than other options involving mix-and-match add-ons. BOP's are not offered to large businesses because they don't meet the eligibility criteria for the policy. Large companies involve more risk according to insurers, and therefore only small Arizona businesses can choose BOP's.

Scottsdale convenience stores, retail traders, bakeries, small stores, fast food restaurants and many other small AZ businesses are probably eligible for a BOP. Some large full-service restaurants, however, may not be eligible. It depends on the size of the restaurant, and the amount of annual gross sales and percentage of alcohol sales. Scottsdale business liability insurance companies may have different policies and eligibility requirements, so it might help to have an agent research requirements for you.

If you are operating a small Scottsdale company, whether it's in retail, services, or something else, it's worth checking to see if you qualify for a BOP. Note that most companies in the auto industry, such as car washes, auto repair services and manufacturing companies will probably not be able to get a BOP. Again, you can ask a broker or a Scottsdale business liability insurance company if you are eligible for an Arizona BOP.

A BOP for an AZ company typically includes property coverage and business interruption coverage. So, buildings and equipment are covered, as well as all losses during any kind of catastrophe or other issues. After a fire, for example, interruption coverage would offset all lost profits and cover costs for the reparation.

Comprehensive Scottsdale liability coverage is included in a BOP. So, any harm caused by your employees or your products is covered. Also, any lawsuits related to that harm, or an accident, or any other offense, will be covered by liability insurance.

BOP also includes crime insurance, meaning that you are covered in the case of theft. You are also covered if there's an issue with embezzlement, or employee theft. Some policies will also have vehicle coverage, that includes rented or borrowed vehicles.

You may need to purchase additional coverage if you're concerned about floods or earthquakes. Though, as you know, such natural disasters are unlikely in Arizona. When you're shopping around for Scottsdale business liability insurance, you should definitely consider a BOP if you're eligible.

Advertising Injury Coverage

Your Scottsdale business liability insurance policy probably includes an "advertising injury coverage" clause. An advertising injury is a claim caused by advertising goods and services. It can be related to copyright or trademark infringement, or a claim of libel or even invasion of privacy. As you might have guessed, this kind of liability claim is typically submitted by a competitor.

Any act, advertisement, comment or practice made by you or any of your employees could cause a competitor to complain. In general, a commercial policy should cover you if that happens. Potential claims that are covered by your general liability insurance include slander, libel, copyright infringement, trademark issues, and invasion of privacy. Advertising is any kind of notice, words, or anything broadcast for the purpose of attracting customers or clients.

Advertising injury coverage should protect your Scottsdale company under most related circumstances, but there are some exclusions. For example, if you knowingly publish false information, you may not be protected. Coverage is meant to protect you when your advertising unintentionally includes misleading information. Also, if you knowingly violate someone else's rights, your advertising injury coverage will not help you.

As is the case with general Scottsdale business liability insurance, criminal acts or a breach of contract will not be covered. You can talk to your Scottsdale business liability insurance company to explain exclusions in your advertising injury coverage. A trustworthy insurance broker can help clarify the complex details of your advertising injury coverage.

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