Homeowners insurance specifically excludes any liability for someone injured on or away from your property. It generally does provide a token amount of property insurance ($2500) for incidental business property. You may need an endorsement on your homeowners policy, otherwise you’ll want to talk to an agent about a Business Owner’s Policy.

A certificate states you have coverage on the day it was typed for documented lines of business. A binder is a guarantee of coverage for a specified time replacing the policy until the actual is received.

This all depends on your lease.  It is crucial your agent review it. If you have a “triple net lease ” you generally pay all bills on the space such as taxes, utilities, and insurance.

Yes. Your employee’s driving records will influence the rate for your commercial auto policy, so it’s important to be aware of their past driving history. You will need their permission in writing to do this.

Your insurance needs depend on what kind of work you do and how many employees you have.  A sole proprietor’s needs will differ from a contractor with 3+ employees. It’s important to speak to an educated agent who will advise you on your exact needs of some or all of the following: General liability, workers compensation, EPLI, commercial auto, property, bonding, equipment, and possibly more.

Restaurants are known to be somewhat of a risky venture; it’s important to make sure the insurance is not. In order to cover all of the bases and you personally from financial hardship, you need to have an agent who you can trust and is going to advise you as your business grows. For starters, you’ll need the trifecta of: property insurance (including business interruption), general liability (protecting you from lawsuits resulting from customers’ bodily injury), and workers’ compensation (for your employees).  Typically, it is recommended restaurateurs purchase a Business Owners’ Policy, which will cover you for property and liability as well as additional exposures such as food spoilage and loss of income. Additional coverages such as EPLI (Employment Practices Liability Insurance), Liquor liability, and more are often purchased.  Restaurant insurance can be expensive and confusing, but our agents are well-informed and will be there every step of the way to advise you of your needs, finding the best value for your budding establishment.

General Liability protects you from claims resulting from accidents, typically auto related, or injuries at nonprofit locations and events. You’ll also want to consider a Directors and Officers policy which protects you for non-bodily injury such as discrimination or wrongful termination.

Phil Richard Insurance, located in Danvers, MA, offers small business, start up, and entrepreneur insurance services to new businesses in the North Shore of Massachusetts including but not limited to Danvers, Peabody, Beverly, Salem, Newburyport, Ipswich, Rockport, Gloucester, Marblehead, Swampscott, Amesbury, Georgetown, Lynnfield, Middleton, Hamilton, Wenham, Greater Boston Area, and more. We also serve New Hampshire, Connecticut, and Maine.