When a client becomes overwhelmed with the legal matters related to business insurance, they sometimes ask our Fairfax insurance attorneys for help. In the event of a disaster, you will mitigate your risk if you have the right type of coverage. Generally, you will probably need a minimum of property and liability insurance.

Property Insurance

Property insurance protects the physical aspects of your business, including fixtures, equipment, furniture, electronics, inventory and any personal property. You will also need to discuss which losses are covered. For example, a basic policy often includes fire, smoke, storms, riots, vandalism and more. However, it will likely not cover theft. In addition, you can request specific coverage, usually through a separate policy.

Review Your Lease

Check your building lease to ensure that you are abiding by the terms, including the correct amount of coverage. Someone with a home-based business might need to adjust their coverage to include business-related property.

Liability Insurance

Liability coverage addresses any accidents or injuries that happen while someone is on your property. A separate type of coverage is product liability coverage, which includes damage from a product you create or sell. Auto-Liability insurance coverage is a separate policy that will protect you if you are in a business-related car accident, even if you or an employee uses your own vehicle for business.

How to Find a Business-Insurance Policy

If you are looking for a business-insurance policy, you can contact an insurance broker who can help you wade through technical jargon so that you can find the best deal. Your agent should keep your best interests in mind and should specialize in your type of business.

Contact Our Fairfax Insurance Lawyer

If you are uncertain about the type of business insurance coverage you need, we can explain the different coverages that are available. For further help, contact our Fairfax insurance attorneys at Schleifman Law, PLC.

When you enter into a business agreement with another person or entity, you might want to first call our Arlington contract attorney in order to protect your rights. If the other party violates the contract or if you are unable to fulfill the terms of the agreement, you will want to know what legal recourse you can take. Our lawyers can address these matters with you.

Definition of Breach of Contract

A breach of contract means that either party has failed to fulfill one of more of the contract terms, which can either be expressed and specified in the contract or implied through the law or through conduct.

Express Contract Items

An express contract includes written agreements, and proving a contract violation relies on the wording of the agreement. Some states, including California, also enforce oral contracts while other states do not. You need to speak with legal counsel in order to determine how your state’s contract laws affect a possible breach of contract lawsuit. Your business lawyer can explain which contracts need to be in writing and can clarify the difference in enforcement between written and oral contracts.

Contract Time Frames

The violation of an oral contract is only enforceable for two years under the statute of limitations. However, a written contract has a four-year statute of limitations.

Implied Contracts

Sometimes terms of the contract are implied even without a written agreement. Usually, both parties agree to the expectations related to the written contract even when specific details might not be in writing.

Suing in Tort

Suing in tort means that you can seek compensation for emotional damage and pain and suffering. On the other hand, contract damages only address the specific losses related from failure to fulfill the contract.

Contact Our Arlington Contract Attorney

Our legal professionals can provide answers to your questions about business contracts. For additional help, contact our Arlington contract attorney at Schleifman Law, PLC.

Our Arlington business lawyers recognize that some businesses come with inherent risks, and as such, they need extra legal protection. For example, a hazardous waste management company or a parachute jumping company needs as much protection as possible, including general insurance coverage and personal liability coverage.

Even if a company is not inherently risky, you still need sufficient protection in case of an accident.

Possible Businesses with Increased Risks

If you are wondering if your business falls into one of these high-risk categories, you can review the following list to see if your business meets any of these criteria:

– A business that uses hazardous chemicals or materials, such as cleaning products or photographic solutions, or dangerous processes, such as operating farm equipment or welding
– Baking, cooking or selling food items
– Childcare or animal care
– Repairing valuable items, such as airplanes, vehicles or antiques
– Building or repairing vehicles or buildings
– Driving, such as an on-the-road truck driver or a delivery person
– Permitting injury-prone activities, such as an ice skating rink or a ski resort
– Selling or permitting access to liquor

Reviewing Your Options When It Comes to Business Insurance

If you or your business will be engaged in one of the previous activities, business insurance can provide you with additional coverage. You will also need to consider if you want to set up as a sole proprietorship or pursue setting up an incorporation or LLC instead, which offer more protection of your personal assets in the event of a lawsuit against you.

Contact Our Arlington Business Attorney

You will likely have numerous questions when starting a business, including wondering about the type of business you should establish and addressing your insurance needs. You can reach the Arlington business lawyers at Schleifman Law, PLC for help with the legal aspects of your business.