Call Us Today For A Free Quote | 866.940.1101
Professionals Insuring Professionals
 

Starting your own Law Practice can be stressful. There are a lot of important choices you have to make to get your practice up and running to become successful.  One of those to minimize up front expenses until the revenue starts to flow is starting the law practice in your home.  Having the proper insurance coverage gives you peace of mind that your practice and you are protected.   It goes without saying that you need to get Attorney Malpractice Insurance, but many attorneys negligent the business exposures of running a law practice in your home.

What is the Current Value of your Law Practice?

Your business likely has value you don’t think about: printers, computers, furniture, and other items associated with a legal practice. You need to look at the value that all of these items bring.  Many attorneys do not realize that unless your homeowners policy is endorsed this business personal property is excluded.  And not all homeowner’s insurance carriers will endorse their policies to cover a business exposure.

Clients/Visitors

A law practice that has clients in your own will also need to be sure that the firm has commercial general liability coverage.  If your business involves visits from customers, you need to consider the risk that you’re taking on. 

Employees

In addition to general liability coverage, your law firm will need workers compensation insurance and likely an endorsement called “Hired Non-Owned Auto” to cover any business trips that your employees take using their person vehicle added to your business owners policy.

How’s Your Security? 

If you are keeping information about clients, whether in hard copies or on a cloud storage system owned by a third party, security is important. How well protected is your database? Are you covered if that database is compromised?   Data theft can be high tech or low tech, so making sure that your data security is covered is very important.

Trust Accounts

Even if your law practice is in your home, many law practices have Trust Accounts.  Do you have adequate coverage to cover thefts, either internal or external, out of your Trust Accounts.  Generally your professional liability insurance policy will not provide coverage for the actual theft of funds.  A Business Owners policy may provide coverage, but be sure to make sure that the policy limits are adequate.

As a specialist in writing law firms, L Squared Insurance Agency can work with you to address the unique needs of a law firm that is being run out of a home.

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Quick Contact
Referrals
We love referrals! And thank you even more for your continued business.
Customer Service
Self policy service any time of the day, directly from our website.
Join Our Newsletter
Stay in touch with the latest events, news and offers we have.
From Our Blog From Our Customers
Read More Read More
Stay In Touch With Us Helpful Site Links Read the News
Sign up now to receive new and updates Stay up-to-date with the latest industry, community and agency news through our newscenter. We also provide handy hints on how to save on your insurance.

Read More
We have the expertise to find you the right coverage at the right price 
Powered by Insurance Website Builder