Business Insurance

Marcus finished the bathroom renovation and moved on to the next job. Eight months later, a $38,000 water damage claim landed in his lap - and his GL policy didn't cover it. Here's the coverage gap that follows contractors long after they leave a job site.

Marcus had 11 employees, a landscaping business, and zero insurance coverage when his former assistant manager filed a discrimination claim. Most small business owners don't know their general liability policy explicitly excludes every employment lawsuit they're likely to face.

Marcus's $1 million General Liability policy settled at its cap, and the plaintiff then filed against him personally for the remaining $847,000. A commercial umbrella policy would have cost $600 a year.

A Denver IT firm delivered a buggy platform, got sued for $340,000, and their General Liability insurer declined the claim entirely. GL doesn't cover professional errors, and most service businesses don't know that until it's too late.

A Cleveland deli owner's first settlement offer was $9,800. His documented loss was $42,600. The gap was a three-day paper trail almost no small business owner builds.

A Denver HVAC contractor lost $14,800 in tools to a single break-in, and his commercial auto insurer paid for the door and nothing else. Here is the coverage he should have had.

A Phoenix drywall contractor handed his GC a certificate of insurance and got pulled off the vendor list six months later when the endorsement form was never actually attached to his policy.

Rachel stored $12,000 in candle-making inventory in her garage. When a water heater leak destroyed everything, her homeowners policy denied the claim entirely.

Dana's restaurant sat dark for 11 days after a city water main break — and her insurer denied her business interruption claim because her building hadn't been touched. Most BOP policies have this condition buried in the language, and most owners never see it coming.

David's employee caused a $215,000 accident in his personal car while on a company errand. David's general liability policy had an auto exclusion. He had no HNOA coverage, and he settled for $142,000 out of his own savings.