Resume Writing Business Insurance
Getting insurance for your resume writing business is essential.
Resume writing businesses need to be protected against claims involving events that could foreseeably occur and cause serious financial loss.
This includes indemnification claims — such as a customer filing a lawsuit against you to get reimbursed after suffering losses due to your advice — as well as general contract and employment law disputes involving hired writers.
We’ll help you find the most personalized and affordable coverage for your unique business.
Recommended: Next Insurance is dedicated to matching small businesses with the right policy at the best price.
Best Insurance for a Resume Writing Business
General liability insurance is — generally speaking — the most important insurance policy for a resume writing business.
Some of the risks general liability insurance covers are:
- Bodily injury
- Property damage
- Medical payments
- Legal defense and judgment
- Personal and advertising injury
Having said that, you may be required to purchase additional coverage in order to be “fully” covered depending on your business’s unique needs. Other policies worth considering include:
- Workers’ compensation: This can be a legal requirement depending on whether you hire employees — and on your state — and will cover you if an employee is required to take time off (e.g., due to a disability, injury, etc.).
- Loss of income: This type of policy will cover your lost income if you end up having to halt operations due to a covered risk.
Generally speaking, you will be able to pick between the following two options when picking an insurance provider:
- Brick-and-mortar insurers: This is the more conventional approach, and includes reputable providers that have been operating for several decades (if not for over 100 years). In order to get insured, you will usually have to go through an insurance agent.
- Online insurers: These types of insurers use AI to offer automatic quotes online while still retaining a high level of personalized coverage. Due to the lower overhead involved, they can often be significantly more affordable.
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Cost of General Liability Insurance
On average, resume writing businesses in America spend between $300-$600 per year for $1 million in general liability coverage.
Compare the average cost of general liability insurance for a resume writing business to other professional industries using the graph below.
Several factors will determine the price of your policy. These include your:
- Location
- Deductible
- Number of employees
- Per-occurrence limit
- General aggregate limit
You may be able to acquire general liability insurance at a discounted rate by purchasing it as part of a business owner’s policy (BOP) rather than as a standalone policy.
A BOP is a more comprehensive solution that includes multiple forms of coverage, such as business interruption and property insurance.
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Common Situations That General Liability Insurance May Cover for a Resume Writing Business
Example 1: During a business meeting in a client’s home, you walk through the living room, trip over his cat, fall into an entertainment center, and smash a large television. General liability insurance would pay to replace your client’s damaged property.
Example 2: A competitor sues your company for libel. While you disagree with the accusation, you know you need to hire a lawyer to protect your interests. General liability insurance would pay for your legal defense.
Example 3: While visiting your place of business, a client slips on some wet flooring in the restroom, breaks a wrist in the fall, and decides to sue your business. General liability insurance would cover your legal defense costs and any required settlement.
Other Types of Coverage Resume Writing Businesses Need
While general liability is the most important type of insurance to have, there are several other forms of coverage you should be aware of. Below are some of the most common types of coverage:
Professional Liability Insurance
While you work hard to produce resumes that meet your clients’ needs, there’s always a chance someone might decide you made a mistake that caused them harm. If a client sues your business for negligence, professional liability insurance would cover your legal fees and any required settlement.
Product Liability Insurance
While you strive to ensure the products you sell help clients land the jobs they want and need, there’s always a chance someone might decide your product caused them injury. In the event of a lawsuit, product liability insurance would cover your legal fees and any required settlement.
Workers’ Compensation Insurance
If you have any employees, most states will require you to carry workers’ compensation insurance for your part-time and full-time workers. This coverage protects your employees if they become injured at work or fall ill after a work-related accident. It not only covers an employee’s medical bills and lost wages if they need time to recover but also any disability or death benefits stemming from a workplace accident.
Commercial Umbrella Insurance
While your general liability insurance policy covers most claims, some accidents or lawsuits may be so catastrophic that they threaten to exhaust the limits of your primary coverage. Commercial umbrella insurance protects you from paying out-of-pocket for any legal fees and awarded damages that exceed your primary policy.
Additional Steps To Protect Your Business
Although it’s easy (and essential) to invest in business insurance, it shouldn’t be your only defense.
Here are several things you can do to better protect your resume writing business:
- Use legally robust contracts and other business documents. (We offer free templates for some of the most common legal forms.)
- Set up an LLC or corporation to protect your personal assets. (Visit our step-by-step guides to learn how to form an LLC or corporation in your state.)
- Stay up to date with business licensing.
- Maintain your corporate veil.
Resume Writing Business Insurance FAQ
Yes, absolutely. You will need to first get a quote from an online business insurance provider like Next Insurance. Next allows you to then purchase a policy immediately and your coverage will be active within 48 hours.
A typical business owner’s policy includes general liability, business interruption, and commercial property insurance. However, BOPs are often customizable, so your agent may recommend adding professional liability, commercial auto, or other types of coverage to your package depending on your company’s needs.
"Business insurance" is a generic term used to describe many different types of coverage a business may need. General liability insurance, on the other hand, is a specific type of coverage that business owners need to protect their assets.
Yes you do.
Even though this will not be a legal requirement unless you hire full-time employees or purchase a company vehicle (e.g., workers’ compensation insurance, commercial auto insurance, etc.), getting business insurance before you begin operating will ensure that you proactively protect yourself from the potential lawsuits that could follow.
Not necessarily. Certain exceptions may be written directly into your resume writing business insurance policy, and some perils may be entirely uninsurable.
Yes, an LLC is meant to create a legal barrier between your business and your personal assets and credit. If you haven’t formed an LLC yet, use our Form an LLC guide to get started.
An LLC doesn’t protect your business assets from lawsuits and liability– that’s where business insurance comes in. Business insurance helps protect your business from liability and risk.