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Company insurance is intended to safeguard the financial assets of a firm owner and is a necessary investment for an ebay business.
Company insurance is intended to safeguard the financial assets of a firm owner and is a necessary investment for an ebay business.


This article will discuss the primary insurance coverage for eBay firms, general liability insurance, as well as additional products that are appropriate for this industry.

Notary Public Businesses Need General Liability Insurance

Every firm, regardless of sector, has risks that should be insured. General liability insurance is the most frequent and comprehensive form of coverage that company owners purchase.

General liability insurance covers the following risks:

Physical harm

Damage to property

Medical expenses

Legal defence and decision

Personal and commercial harm

While general liability insurance is not legally needed for companies, operating without it is exceedingly dangerous. If your company is sued, you might face costs in the hundreds of thousands of dollars (or more). The only way to avoid this sort of catastrophe from destroying your organisation is to have an adequate general liability insurance coverage in place to assist pay for these losses.


Example 1: Your newly developed company logo is identical to one owned by a rival. If they decide to sue you for copyright infringement, general liability insurance will cover your legal fees as well as any settlement payments.

Example 2: During a meeting at your workplace, one of your customers falls on a vacuum cable and suffers serious head injuries. If the customer takes you to court, general liability insurance will cover your legal fees as well as any monetary damages granted.

Example 3: A customer comes early for an appointment and walks through your side door as you bring enormous boxes of paper into your building with a dolly. You fail to see the customer ahead of you and run over their foot with the hefty dolly, inflicting serious harm. Your client’s medical expenses and any associated legal bills would be covered by general liability insurance.

Of course, this is not an entire list of risks covered by a general liability insurance policy, and certain situations may result in a specific peril not being covered. To minimise coverage gaps, it’s always better to speak with your agent about the terms of your policy.

General Liability Insurance Cost

Notary public firms in the United States typically pay between $400 and $700 per year for $1 million in general liability insurance.

The cost of your coverage will be determined by a number of variables. Among them are your:



Employees’ number

Per-occurrence restriction

The overall aggregate limit

You may be able to get general liability insurance at a lower cost if you buy it as part of a business owner’s policy (BOP) rather than as a separate policy. A business interruption policy (BOP) is a more complete option that covers numerous types of coverage, such as business interruption and property insurance.

Other Types of Coverage Required by Notary Public Businesses

While general liability insurance is the most crucial, there are various different types of coverage to be aware of. Other forms of insurance that every notary public firms should have include:

Insurance for Workers’ Compensation

Workers’ compensation insurance is required in most states for both part-time and full-time employees. This coverage covers your workers if they are hurt at work or get sick as a result of a workplace accident. It covers not just an employee’s medical expenditures and lost pay if they need time off to recuperate, but also any disability compensation resulting from a work-related injury.

Insurance for Commercial Property

You’ve invested much in the equipment, materials, and other things required to operate your firm. If your commercial property is damaged by a fire, bad weather, or other disaster, commercial property insurance will cover the expense of repairing or replacing your equipment.

Coverage Options for Some Notary Public Businesses

In addition to the insurance listed above, your notary public firm may need other forms of coverage based on particular elements of your activities. Some of them may not apply to you, so be sure to ask your agent whether policies are appropriate for your company.

Umbrella Insurance for Businesses

Even the most conscientious company owners may be faced with a lawsuit that threatens to exceed the limitations of their basic insurance policy. Commercial umbrella insurance protects you from having to pay for legal expenses and awarded damages that exceed the limits of your main policy out of pocket.

Insurance for Home-Based Businesses

If you run your company from home, your homeowner’s insurance coverage will not protect you in the case of an accident. To secure proper coverage for your company equipment, consider adding a home-based business insurance policy to your current homeowner’s policy or business owner’s policy (BOP).

Additional Security Measures for Your Company

Although investing in company insurance is simple (and necessary), it should not be your first line of defence. Yes, insurance will reimburse your company for cash losses incurred as a result of an occurrence, but it is much preferable to avoid losses altogether.

With this in mind, here are a few steps you can take to better secure your company:

Make use of legally binding contracts and other business agreements. (We provide free templates for several of the most often used legal forms.)

To safeguard your personal assets, form a limited liability company (LLC) or a corporation. (To discover how to incorporate an LLC or company in your state, see our step-by-step tutorials.)

Keep your company licences up to date.

Streamline the internal procedures of your company. This will eliminate unneeded variables from routine activities and establish a secure, consistent environment in which to do business.

If your company is an LLC, you should check into LLC insurance.