2014

Insurance Policies for Court Reporters, Stenographers, and Court Recorders

As a court reporter, you're responsible for the accurate record of a legal proceeding, which means you have a lot of responsibility and liability. Your business insurance can help protect you from lawsuits, damaged property, and other costs that could force your small business into bankruptcy.

To cover your business, consider the following policies.

General Liability Insurance for Stenotype and Court Transcript Professionals

Almost every stenography business has to purchase General Liability Insurance to protect its common (or "general") liabilities.

Third parties are anyone not employed by your business. This includes customers, clients, competitors, vendors, and others. General Liability insurance can pay for lawsuits filed by these third parties when they claim your stenotype business…

  • Damaged their property or reputation.
  • Caused a physical or advertising injury.

This "general" insurance is the basic insurance policy that your business uses to cover its interactions with non-employees. When a deliveryman trips over a crack in your sidewalk, smashing their shin against your steps and breaking it, your business could be susceptible to a lawsuit.

In this situation, General Liability Insurance can pay for your legal defense and any money the court rules you have to pay the injured third party. As a stenographer, you spend a lot of time in court, but you don't want to spend any time as the defendant. General Liability Insurance can pay for your legal expenses when you are sued, and can also pay for settlements to keep a lawsuit from going to court.

Property Insurance for Court Reporters and Stenographers

Property Insurance guards your court reporting business from unexpected property loss caused by…

  • Fire.
  • Theft.
  • Vandalism.
  • Certain weather events (like windstorms, tornadoes, and others).

When one of these events damages or destroys your equipment, supplies, offices, buildings, inventory, or other commercial property, your insurance can reimburse your business for its lost value, often in a matter of days.

Much of your property can be covered, including…

  • Stenotype machines.
  • Computers / laptops.
  • Leased or owned office space.
  • Furniture.

Let's say a fire starts in your office. The flames destroy a stenotype machine, a desk, and the walls and carpet of your office. In addition, the fire spreads next door where it ruins the neighboring IT business's computers. You could be looking at costs in the five- or six-figure range. Fortunately, Property Insurance can pay to replace your damaged property as well as your neighbors'.

If you run your business from your home, you should know that your Homeowner's insurance may not cover property claims for your commercial equipment. Most Homeowner's policies don't. For more about insurance for home-based businesses, check out this infographic.

Business Owner's Policies for Stenography Small Businesses

Business Owner's Policies (BOPs) package General Liability and Property Insurance in one policy, which can be a good deal for court reporter small businesses looking to save money on their business insurance.

Insurers sell BOPs to small businesses that meet certain criteria and are considered "lower-risk." Your business might be able to buy this policy if it…

  • Doesn't need more than a year's worth of Business Interruption Coverage (this policy often comes with Property Insurance and pays lost income to businesses that can't function when their offices are destroyed or damaged by fire or other covered claims).
  • Doesn't use large premises.
  • Isn't a part of a higher-risk industry.

Our agents will check to see if you qualify when they give you a free quote. Fill out our quick application to find out if you qualify.

Cyber Liability Insurance for Court Reporters, Stenographers, and Court Recorders

There are two types of Cyber Liability Insurance (also called Cyber Risk Insurance or Data Breach Insurance), but your court reporting business probably only needs to consider First Party Response. This policy covers your business when its computers are hacked.

Cyber attacks occur when someone hacks your network in order to gain access to your customer information or steal money from your business. When this happens, Cyber Liability Insurance can pay for…

  • Crisis management and public relations efforts to restore your business's reputation after the attack.
  • Credit monitoring for customers whose data may have been stolen.
  • The cost of contacting your affected clients.
  • Investigations into who was responsible for the attack and how to prevent future attacks.

If your computer is hacked, imagine having to contact all the lawyers, judges, and other professionals whose records you may have on your network. Often, businesses are required to do just that. Contacting all your old clients with this bad news will damage your reputation. That's why Cyber Risk Insurance will pay for new advertising / P.R. campaigns after the attack.

Errors and Omissions Coverage for Stenotype and Court Transcript Professionals

Errors & Omissions Insurance (also called E&O or Professional Liability Insurance) covers the professional lawsuits you may face as a stenographer.

E&O coverage protects your business when someone sues it, claiming you…

  • Made a mistake in the court transcript.
  • Performed unsatisfactorily.
  • Failed to deliver the services you were hired for.

Let's say you made a mistake in in a court report. The mistake was a minor one, but you know how lawyers can (and will) capitalize on the minutia of language. After the case goes against their client, a law firm sues you, claiming your error contributed to their loss. When this happens, Errors and Omissions Insurance can protect your business from the costs of the lawsuit.

Even if you don't make a mistake, you can be sued. Often E&O lawsuits are completely without merit. Nonetheless, they are expensive. Without Errors and Omissions coverage, you'd have to pay for the legal bills. These costs could be more than your business can afford. E&O Insurance can pay for lawsuits like this that have no merit, but still threaten your business.

Workers' Compensation Insurance for Legal Transcript and Stenography Small Businesses

If you have employees, your business probably has to purchase Workers' Compensation Insurance (also called Workers' Comp or Workman's Comp) in order to meet your state government's requirements.

As an employer, your business is responsible for any injuries or illness your employees suffer as a result of their job. Even when the injury comes from an accident, your business can be held responsible.

If an employee trips on the office stairs and breaks their hip, your business could be sued. Workman's Comp can pay for your expenses such as…

  • Medical bills for an injured / ill employee.
  • Paid recovery leave for employees unable to work.
  • Your legal bills as the employer (lawyers' invoices, settlements, judgments, etc.).

Some states allow for certain exceptions that can save your business money on its Workers' Comp policy. You may be able to exclude independent contractors or other non-W2 employees from your coverage. You may also be able to opt out covering yourself or other owners / founders of the business.

Insureon: Custom-Made Business Insurance for Court Reporters, Stenographers, and Court Recorders

Wouldn't it be great if there were insurance agents who specialized in insurance for court reporters? That's exactly what insureon can offer. Our agents are trained experts in certain fields. Your agent will specialize in stenographer insurance.

With specialized insurance, your small business can make sure to get a policy that fits your liabilities and budget. Our agents tailor your policy to exclude unnecessary and unhelpful policies that don't actually cover your business, but cost you money.

Contact insureon today for a free quote on custom-made insurance.

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