Small Business Insurance Utah

General liability coverage is one of the most important types of small business insurance in Utah and is often required to lease commercial office space.

If someone says that your company caused an injury or damaged property, general liability insurance helps pay to address the claim. This coverage includes attorney fees, court costs and any damages if you are found responsible in the case of a lawsuit.

For instance, the owner of an office park in Salt Lake City says that employees of a landscaping firm accidentally killed several dozen shrubs by using the wrong type of fertilizer. General liability insurance helps the landscapers pay to replace the plants, including labor costs if the client chooses another vendor.

Owners of cleaning and construction companies should strongly consider adding tools and equipment coverage to business insurance packages in Utah. If important business items are damaged, stolen or lost, tools and equipment insurance helps pay to repair or replace them.

In Utah, all businesses with employees must carry workers’ compensation insurance to assist employees who get hurt at work.⁴

This type of coverage helps injured employees pay for medical expenses and physical rehabilitation. It also covers a portion of lost wages under Utah’s tiered system of temporary and permanently disabled workers.⁵

Here’s how workers’ compensation insurance in Utah could help protect your business:

A Park City-based concrete pourer suffers a hernia when removing bags of supplies from a truck and seeks medical care. The doctor recommends that the worker take a month off of work to recover from the injury.

Workers’ comp coverage helps the injured employee pay for medical bills, as well as some lost wages, depending on his or her disability status.

Utah law requires that all motorists carry auto insurance, including those who drive for business.³

Personal auto insurance usually won’t cover damages from accidents in company-owned vehicles, which is why some business insurance bundles in Utah should include commercial auto coverage.

For example, an excavation company in St. George is involved in a high-speed accident in a company-owned truck on Interstate 15, sending three workers and several other drivers to the hospital. Commercial auto insurance helps pay for medical expenses, up to the policy limits, along with vehicle damages.

Hired and non-owned insurance is a form of commercial auto coverage that pays for business-related accidents in vehicles not titled to a company. Businesses that sometimes ask employees to drive their own automobiles for work or rent them should ask about this add-on when requesting a quote.

Claims of work-related negligence that causes financial losses can leave a small business facing a sizable bill for damages.

In such cases, professional liability insurance, also known as errors and omissions (E&O) coverage, provides essential protection. This form of business insurance in Utah helps pay to resolve claims of professional negligence.

For example, a client accuses a self-employed IT consultant based in Provo of incorrectly configuring payment processing software, which leads to an e-commerce website outage and several days of lost revenue. The consultant’s E&O insurance helps the consultant reimburse the client for losses and would cover a portion of lawyer fees, court costs and additional damage in the event of a lawsuit.