Insurance for Small Business Owners in Nevada

Commercial Auto Insurance.
In Nevada, all drivers—including commercial drivers—must have sufficient automobile insurance to cover property damage and injuries. Drivers in this state must carry minimum benefit amounts for bodily injury liability ($25,000 per person/$50,000 per accident) and for property damage liability ($20,000 per accident).  

Workers’ Compensation Insurance.
Even small businesses in Nevada are required to carry Workers’ Compensation coverage. This type of insurance typically covers the medical and legal costs for employees who are injured or become ill on the job. Without this coverage, your small business may incur state fines.

Small Business Owner’s Insurance.
A Business Owner’s Policy (or BOP) is a cost-effective way for small business owners in Nevada to bundle both property insurance and general liability into one comprehensive policy. Typically BOP covers losses and damages related to buildings used for business purposes, as well as machinery, equipment, and business personal property. It also covers customer medical expenses for onsite accidents and advertising damage claims.

General Liability Insurance.

This coverage is often required for leasing commercial property. In Nevada, small businesses can seek general liability coverage as a separate policy to help ease the financial burden associated with customer injury and property damage claims, as well as slander and libel lawsuits. 

Professional Liability Insurance.

Often referred to as "errors and omissions insurance,” Professional Liability insurance is coverage designed for small businesses that provide expertise and consulting services. It typically covers the costs resulting from work mistakes and errors, missed deadlines, incomplete work, and professional negligence lawsuits.

Cyber Liability Insurance.

Small businesses can experience cybercrime events and data breaches--and those scenarios could be as seemingly innocuous as an employee misplacing an external hard drive with customer information. Cyber Liability coverage typically covers damages to data systems, in addition to customer notification, fraud monitoring, and associated legal costs stemming from such occurrences.