THURSDAY, JUNE 16, 2022
There are many risks inherent to running a law firm. Whether the exposures come from the legal services you provide or the operational aspects of running a business, having the right business insurance can provide essential coverage for you, your employees and your clients.
The knowledgeable team at Bartal Insurance Agency in Scranton, Pennsylvania, can help you obtain the insurance you need. Reach out to us to learn more.
What Types of Business Insurance Are Available for Law Firms?
Business insurance is a group of policies that can provide financial assistance after a covered cause of loss. This can help law firms reduce their out-of-pocket burden. Available coverages typically include:
- General liability insurance—This may help cover claims if your firm is responsible for third-party injuries or property damage.
- Commercial property insurance—This may provide repair or replacement costs if a covered event (e.g., fire) damages your business’s property (e.g., your building or its furnishings).
- Professional liability insurance—Also known as errors and omissions and insurance or legal malpractice insurance, this may help cover claims that a professional mistake or oversight resulted in financial harm to a client.
- Hired and non-owned auto insurance—This may offer liability coverage if you or one of your firm’s employees is in an auto accident while driving a personal or rented vehicle for work purposes. It is a separate policy from personal auto insurance.
- Cyber liability insurance—This may help pay for costs associated with data breaches or cyberattacks, such as expenses to notify affected parties.
- Commercial crime insurance—This may provide coverage for dishonest acts such as fraud or employee theft.
- Workers’ compensation insurance—This may provide financial assistance to your employees if they are injured or become ill due to a work-related incident.
- Commercial umbrella insurance—This may provide an additional layer of coverage if a liability claim exceeds the limits of your firm’s other liability policies.
Other policies may be available. Speak with your agent to discuss options, terms, exclusions and limits.
How Much Does Business Insurance for Law Firms Cost?
The cost of business insurance for law firms depends on several factors. Your firm’s size, location and claims history could impact premiums as well as the amount and types of coverage you select.
Get Business Insurance Your Law Firm
The team at Bartal Insurance Agency can help you get the policies your law firm needs. We can work with you to design a comprehensive business insurance package that provides optimal coverage at the best value. Contact us today to get started.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.
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