Insurance

[P&T Consulting]

Our company is small but quickly growing. We do in-home consultations and I recently ran into an issue that I never thought of before (guess that tends to happen with start upsJ). I went to a client’s home to come up with a program, everything went well, or so I thought. A few hours after I returned to my office I received a frantic phone call from the client who said that her valuable jewelry was missing and I was the only one who had been in her home. I thought it was absurd that she would accuse me of taking anything since we had the meeting at her dining room table and I was never left alone. To make a long story short, a few days later she called me up extremely apologetic saying that she had simply misplaced her item. This got me thinking, is there any type of insurance or way to protect a small business owner from claims of theft?

[PoolsRCool]

Our company is small but quickly growing. We do in-home consultations and I recently ran into an issue that I never thought of before (guess that tends to happen with start upsJ). I went to a client’s home to come up with a program, everything went well, or so I thought. A few hours after I returned to my office I received a frantic phone call from the client who said that her valuable jewelry was missing and I was the only one who had been in her home. I thought it was absurd that she would accuse me of taking anything since we had the meeting at her dining room table and I was never left alone. To make a long story short, a few days later she called me up extremely apologetic saying that she had simply misplaced her item. This got me thinking, is there any type of insurance or way to protect a small business owner from claims of theft?

There are many kinds of business insurances out there and they all offer different protections. In a situation like yours it is more of a criminal matter then an insurance matter. Luckily the lady gathered her marbles and got it straight. The insurance I have for my pool biz is to cover anything that I may break or damages caused by me or the work I have done that causes expense by the homeowner. I only pay $400/year for my coverage.
I don't see how insurance will protect you from anything like your situation, she would have to file a police report and then the police would have to take it from there. Best of luck to you and your business.

[hillaryNC]

I would definitely advise you to get insurance! If anything goes wrong you know that you are looked after for most things! I'm not really sure about what insurances cover but there are lots of options from you to choose from! Every serious business would have insurance, so really if you want your business to grow you will need to consider getting insurance!!

[oxpaulo]

Yeah it would be a criminal matter and she would really have no case at all without witnesses or any real evidence. Still could be dangerous in a civil suit I suppose, but a decent lawyer would squash it quickly.

[Bakerpat]

Obonded and certified maybe more in the line of coverage against this type of thing. Most agents have Errors & Omissions insurance to cover them if they leave something out when making a sell. You do want to consult an attorney.

[fredkawig]

I wouldn't worry too much about these things, as long as you have a good lawyer and you have clean hands then the burden of proof would have to be proven by those who are accusing you and your business of theft. Insurance would be nice as a general safety but besides threats and false accusations, that would never stand in court especially if you are innocent.

[speeduser]

Having your business insured is a good idea. It will protect you from any eventualities and that is great. - Green Water Technologies

[HenryChinaski21]

How much will this small business insurance cost?

[growie]

Yep, a good lawyer is a must in such situations. I had a lot of questions and problems with insurances, but then I found a good qualified lawyer who helped our business a lot and settled all the things for us. I recommend that you work with only the best professionals, good luck

[Lilykevin86]

Protection is an agreement, addressed by an arrangement, in which an individual or element gets monetary security or repayment against misfortunes from an insurance agency. The organization pools customers' dangers to make installments more moderate for the protected.