As a holiday or Christmas-based business, you likely have an exciting season ahead! Don’t let yourself get caught in a sticky situation throughout the busy season, and make sure that you have the proper commercial insurance coverage in place.
What insurance should I have in place?
The most common type of insurance for business owners to have in place is general liability insurance. This type of insurance covers risks associated with bodily injury, property damage, medical payments, personal injury and legal defense.
While you’re not legally required to have this type of insurance in place, it’s highly recommended. As things become busier for your business, the chances of damages like these happening only becomes higher.
Having the proper protection in place will save you a lot of time and money in the long run if these situations occur.
How much does general liability insurance cost?
Factors that go into determining your general liability insurance cost include location, number of employees, deductible, general aggregate limit, and per-occurrence limit.
But on average, small Christmas-based businesses will generally spend somewhere between $400-$700 per year on general liability insurance.
Other types of coverage for Christmas-based businesses
In addition to general liability insurance, busy Christmas-based businesses should consider professional liability insurance which provides coverage for mistakes while on the job. This could be by you or an employee.
Commercial auto insurance is also necessary to have in place for employees using their vehicles to get to and from job sites. This can cover at-fault accidents as well as vehicle repairs, property damage, and treating bodily injuries.
Lastly, home-based insurance may be relevant for businesses who operate their business from home.
If a work-related accident is to take place at home, or an injury to take place on the property, home-based business insurance can help to cover the costs. Regular homeowner’s or renter’s insurance may not always cover these damages.
Don’t wait! Make sure you have the proper insurance in place for your Christmas-based business and have the holiday season you deserve.Contact us today to discuss your options!