What is short-term liability insurance?

Short-term liability insurance is small business insurance coverage when you need it. You need insurance coverage for your business, but you sometimes don’t need it for a whole year. Perhaps you need coverage to bid on a project, but no longer need it after the project ends. Maybe you have a short-term project requiring more coverage than your existing policy provides, or you need to be insured against a specific risk.

Hiscox, in partnership with Thimble, offers short-term business insurance for contractors and small businesses. Purchase coverage for a specific period of time, whether it’s an hour, a day, a month or more. Or, get a policy that renews each month until you cancel it. You only pay for the protection you need, when you need it.

Policies available:

• Short-term general liability insurance coverage, for protection against claims by someone else that you caused bodily injury or property damage
• Short-term professional liability coverage (sometimes called E&O or errors and omissions), for protection against claims that you were negligent

Once you’ve got your on-demand insurance coverage, you can prove it by getting an ACORD certificate online in under a minute. You can also change your limits, add an insured, and more – online in seconds.

You need short-term business liability insurance if:

• You have a business that is seasonal or limited in duration but want to be protected against claims by others of bodily injury and property damage.
• You have a project that requires that you give advice to clients, leaving you vulnerable to claims or negligence.
• You are competing for a project that requires a specific type or amount of insurance coverage.

How does short-term liability insurance work?

Short term liability insurance provides coverage for a specific period of time. There are two types:

• On demand general liability and professional liability coverage is insurance for a certain time period, whether that is hours, days, weeks or months.
• Monthly renewable coverage is a short-term liability policy you purchase for a month, with automatic renewals each subsequent month until you cancel.

For new businesses starting out, contractors, or businesses that are expanding by taking on new projects, short term business insurance coverage can be a great way to get the protection you need without committing to a year-long policy term. If you have a traditional liability insurance policy in place but need a higher limit, short term liability coverage may be an effective way to increase your limit for the time you need it.

Examples of short-term liability insurance claims:

Make sure your business is fully protected

Through Thimble, Hiscox offers short-term liability insurance for over 120 professions. Tailoring your coverage to the specific risks your company faces, as well as the time period for which you need protection, ensures that you get everything you need and nothing you don’t.

Short-term liability insurance is subject to underwriting guidelines. Not available in all jurisdictions for all classes of business.

This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply any claim is covered. If there is a conflict between the descriptions provided above and the policy, the policy controls.

Underwritten by Markel Insurance Company, Ten Parkway North, Deerfield, IL 60015.