Will your business survive a lawsuit?

It’s no fun to think about, but odds are someone will decide to sue your business because they claim you caused them harm. A common mistake of new business owners is thinking their LLC (or other business entity) will provide enough protection.

Without business insurance, settling a claim could cost you up to $75,000 out of pocket and potentially hundreds of thousands if your company is found liable.

myHRcounsel partnered with business insurance specialist Mylo so you can make smart insurance decisions by getting expert advice from a Mylo advisor and find the best value in coverage from top-rated carriers.

Start by answering these questions:

Do I have a physical building, equipment, or inventory?

• • PROPERTY helps repair or replace damaged, lost, or stolen property (such as valuable products destroyed in a fire or by a sprinkler system).

What will I do if my business causes harm?

• • GENERAL LIABILITY covers claims from third parties (customers or other non-employees) that your business injured them or damaged their property.

Do I have employees who could be injured on the job?

• • WORKER’S COMPENSATION covers workplace-related injuries and illnesses. (It also helps shield you from most employee lawsuits).

Do I have company vehicles that could cause accidents?

• • COMMERCIAL AUTO covers injuries or damages caused by your company vehicles (and from your employees’ cars driven on the job).

Do I take Credit cards or store vulnerable customer data?

• • CYBER covers the excessive costs of rebuilding systems, paying regulatory fines, and notifying customers after a cyberattack.

Do I perform professional services that could get me sued?

• • PROFESSIONAL LIABILITY covers the legal costs if you’re sued by a client who’s unhappy with your work.

We know every business is different – you may have unique risks. A customized consultation with a Mylo expert will help you safeguard your success.