Have questions about business insurance, claims or certificates? We’ve got you (and your business) covered.
What can Errors and Omissions insurance cover for notary businesses?
No business or individual wants to experience financial loss or damage to their reputation. Legendary investor Warren Buffett famously said, "It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently." So, notary businesses can opt for errors and omissions (E&O) insurance coverage to help protect them and their reputation. What is covered? E&O insurance is aimed at helping cover your notary business in case of civil lawsuits, missed deadlines or negligence claims linked to professional mistakes, whether you actually made them or not. Professional mistakes — This coverage can help cover the legal defense costs and a settlement or judgment amount if, for example, you fail to witness a legal document signing properly, causing a financial loss for the client.Claims of negligence - If a client accuses your notary business of failing to notarize a legal document and decides to sue, E&O coverage can help cover the legal fees and other legal defense costs. What isn't covered? Other risks notary businesses could face include: Business vehicle damage — Commercial auto insurance can help cover collision repair costs or medical fees.False advertising claims — General liability insurance can help with harm claimed to be caused by false advertising.Employee injuries — Workers' comp insurance can help cover lost wages and medical expenses if an employee gets injured in the workplace. Help protect your notary business with E&O coverage NEXT offers a one-stop solution for notary businesses. With comprehensive, tailored notary insurance, you can have peace of mind. And it's easy — apply online and get an instant quote in less than 10 minutes. » Get your certificate of insurance and share it 24/7 with the NEXT app
Asked 3 days ago
Can a gym purchase business contents insurance?
There are many types of business insurance. Business content insurance is included in commercial property insurance and can help replace or repair damaged gym gear after a covered event. Repairs or replacements may be due to fires or other kinds of accidents. Business contents insurance can provide the same coverage as business personal property insurance. So, whether you're a personal trainer, CrossFit instructor or you own multiple gyms, it could be worthwhile getting a business contents insurance policy. » Here's all you need to know to become a CrossFit instructor What can be included in business contents insurance? Business contents insurance can provide cover for the following risks: Theft, including incidents that happen during normal business hoursAccidental damage, for example, damage to windows or displaysLoss or damage caused by storms, water and fireLoss of data, with the cost to restore databases lost due to physical damage covered In addition to protecting against damage caused by weather events, like windstorms, or theft, business contents insurance can also cover accidental damage caused by members or employees. For example, if a member accidentally drops a weight on a piece of gym equipment, significant damage may be caused. Business contents insurance can help cover the costs of repair or replace the equipment. Aside from gym equipment, business contents insurance can also help protect other essential items you need to run your business, like laptops. NEXT can help protect your gym Business contents insurance can help provide financial support for repairs and replacements in your gym, so you can focus on keeping the day-to-day operations running. NEXT can help with a tailor-made coverage plan for your specific needs. It's easy and affordable. In just a few minutes, you can get an instant quote online, buy a coverage plan and share a certificate of insurance. Our licensed U.S.-based advisors can assist with any questions you may have.
Asked 3 days ago
Can home gym equipment be covered by commercial insurance?
The answer is yes—in specific cases, depending on the terms of your chosen insurance policy. For instance, if you use your home gym equipment for business purposes, such as personal training sessions or filming income-generating exercise videos, it may be possible to include your equipment as part of your commercial insurance policy. But if it is solely for personal use, the commercial policy most likely will not provide coverage and may need to be added to a separate homeowner's insurance policy. » Find out how to become an online fitness trainer Types of commercial insurance for home gym equipment The types of commercial insurance that may cover home gym equipment include: Commercial property insurance - This can help cover equipment breakdowns or theft. However, if someone you train gets injured during a session at your home gym, this policy cannot help cover any medical or legal fees.General liability insurance - This can help provide aid for liability claims and third-party harm that occurs at your home gym. But, if you do not own the property or equipment, this policy cannot offer financial support for damage or theft.Business owner's policy (BOP) - This combines commercial property insurance and general liability insurance and includes the protection both of these can provide. Some policies may limit the types or value of equipment that can be covered. Others may exclude coverage for certain activities or events that increase the risk of damage or injury. How to get coverage for your home gym equipment To help choose coverage for home gym equipment under commercial insurance, here are some steps you can take: Contact a reliable insurance provider to ask if they can include home gym equipment under a commercial insurance policy.Be prepared to provide a detailed inventory of your equipment with proof of ownership and value.Consider adding a rider or endorsement to your policy specifically for the home gym equipment.Ensure that you follow all safety guidelines and procedures for the equipment to lower the risk of accidents or injuries that may affect your coverage. Get the right coverage for your home gym equipment The biggest deciding factor for commercial coverage is whether you use your home gym equipment for business purposes, like professional personal training. If you do, it's understandable that you would want to mitigate risks that could jeopardize you and your business. NEXT can help you find a commercial coverage plan customized to your needs to assist in minimizing financial strain due to unfortunate occurrences, like damages or third-party injuries. And in just a few minutes, you can receive an instant quote online, purchase coverage and share your certificate of insurance.
Asked 8 days ago
Which states require E&O Insurance for real estate agents?
While all real estate agents need licenses, errors and omissions (E&O) insurance is not required by law in every state. Even in states where it's optional, E&O insurance could be a wise investment since it can help protect you if you're accused of misrepresentation or making a mistake that costs someone else money. But here are the states where real estate agents legally need E&O insurance: AlaskaColoradoIowaIdahoKentuckyLouisianaMississippiMontanaNebraskaNew MexicoNorth DakotaRhode IslandSouth DakotaTennessee Operating without uninterrupted E&O coverage in these states can cost you more than just a lawsuit. The Colorado Division of Real Estate, for example, may issue fines and penalties and deactivate your license entirely. This can also happen if you fail to produce a valid insurance certificate. » Check out this comprehensive guide on real estate agent licenses Why is E&O Insurance beneficial for real estate agents? E&O coverage can help protect you or your brokerage from hefty legal fees and large settlements. E&O coverage can also help instill confidence in your clients. Some larger clients may require you to carry E&O coverage, regardless of state laws, before signing on with you. I've seen medium-sized firms in Georgia get passed over in favor of smaller shops simply because the latter had better E&O coverage. How NEXT can help real estate agents with E&O coverage Required or not, E&O coverage can provide cover if you're faced with negligence or misrepresentation claims, plus encourage trust from your clients. This can give you peace of mind to focus on your day-to-day tasks. And NEXT can help with this. We offer fast, affordable and tailored real estate agent insurance. To view your options, simply apply online and get an instant quote in less than 10 minutes. » Need a certificate? Get your certificate of insurance here
Asked 10 days ago
Does business car insurance account for hired vehicles?
If you regularly use rental or hired vehicles for your business, you must be properly covered for potential damages. This can include bodily injuries to the driver and passengers and physical damage to the vehicle. If you currently have personal auto insurance, the same insurance limits and deductibles can sometimes apply to a vehicle you've rented for personal use. But business car insurance (or commercial auto insurance) doesn't necessarily provide coverage for rental or hired vehicles when driving for business purposes. It's important to read your policy documents closely. Many U.S. states have laws that require insurance coverage to have a minimum limit to protect hired or rented vehicles against damages, but this limit for third-party claims can be quite low. Some rental agencies can give you the option to increase these limits, but it can be expensive. If you’re unsure about what is and isn’t covered when it comes to hired vehicles for business use, we recommend that you look at your current commercial auto insurance coverage. Hired and Non-Owned Auto insurance Hired and non-owned auto insurance can provide coverage for rented, hired or employees’ personally owned vehicles that are used for business purposes. You can purchase it as a standalone insurance policy or it can be an add-on to your insurance coverage. Since hired and non-owned auto insurance can protect against bodily injury and damage caused by using the hired vehicle, it can help avoid expensive lawsuits arising from third-party claims. You can be covered for: Third-party property damageThird-party injuriesLegal fees to defend third-party lawsuits But remember that coverage is not provided during commutes, for any damage to vehicles or for equipment being transported. » Let NEXT help you with hired and non-owned auto insurance Cover up with NEXT Insurance It's important to make sure that you understand your auto insurance coverage and that you're sufficiently covered for what you need. The auto insurance landscape can be confusing and leave you with many questions. Instead of trying to find one-size-fits-all insurance coverage and possibly paying for services you don't need, get a tailored insurance quote for your industry and your specific needs. Get an instant quote from our trusted partners now by just answering a few questions. FAQs Do I need non-owned auto insurance? There is no requirement to get hired and non-owned auto insurance, but it can protect businesses from financial losses arising from liability claims. What are the types of businesses that might need hired and non-owned auto insurance? Hired and non-owned auto insurance is commonly used in industries where employees drive their own vehicles or vehicles are hired for business use on a long-term basis. This includes contractors, sales agents, construction companies, and food delivery businesses.
Asked 13 days ago