Workers’ compensation insurance pays for employees’ medical costs and replacement income if they experience a work-related injury or occupational illness. Workers’ comp is required by law in most states. Pennsylvania requires employers with one or more employees to carry workers’ compensation, and they typically pay between 12 cents to $26.39 per $100 of payroll. Consider…
About the Author
Jaclyn Moriarty
Jaclyn Moriarty is a writer with our finance team focusing on insurance. Prior to joining Fit Small Business, Jaclyn worked in content marketing for financial services. She holds a Bachelor of Arts degree in journalism and English from Bradley University and has written for a number of finance and insurance companies, including Insureon and Amica.
When not busy keeping up on all things FinServ, Jaclyn is fond of drinking coffee, reading comics, and watching hockey.
How Much Does Business Insurance Cost?
Small business owners often wonder how much business insurance costs. It’s an important expense that protects against liability claims and covers business-owned property. Factors that influence the cost of business insurance vary widely, including industry, location, and number of employees. Small businesses can expect to pay between $400 and $3,200 annually, depending on coverage needs….
8 Best Business Insurance Brokers 2019
Business insurance brokers can help you find the best coverage because they have access to multiple carriers. We researched two dozen popular brokers to find the top insurance brokers for small business owners. The final eight come out on top based on eight criteria, including price options, available carriers, coverages, and customer service. 8 Top…
Do I Need Workers’ Compensation Insurance?
Small business owners with employees need workers’ compensation insurance to cover employees’ on-the-job injuries and work-related illnesses. Every state but Texas requires employers to buy this coverage to pay medical bills and lost wages for employees hurt in workplace accidents. Without workers’ comp, employers may have to pay these costs out of pocket. The Hartford…
Ecommerce Business Insurance: Cost, Coverage & Providers
Ecommerce business insurance is a collection of commercial policies designed to protect you and your ecommerce business. A common policy for ecommerce business owners is cyber liability insurance, which covers losses or damages resulting from cyberattacks and data breaches. Most ecommerce businesses require additional policies, so ecommerce insurance costs between $400 to $7,500 annually. CoverWallet…
What Is Third-party Insurance?
Third-party insurance is liability coverage purchased by you (first party) from an insurance carrier to protect against claims from other people (third party) for damage or injuries you cause. This coverage typically comes packaged in auto, homeowners, renters, and business insurance policies to protect against common risk exposures. How Third-party Insurance Works Third-party liability insurance…
The Difference Between Personal and Commercial Auto Insurance
The main difference between personal and commercial auto insurance is the type of driving they cover. While both policies pay for property damage and medical bills after a car accident, personal auto insurance does not typically cover business-related driving, making it the ideal option if your day-to-day operations don’t require a vehicle. Consider Progressive Commercial…
General Liability Insurance vs Business Owner’s Policy
General liability insurance and a business owner’s policy (BOP) both cover the costs associated with third-party claims of physical injuries, property damage, and advertising injuries. However, a BOP includes added protection of commercial property insurance for your business’ physical assets. BOPs are a good option for small businesses looking to bundle their insurance for savings….
6 Best Ecommerce Insurance Companies for 2019
Small business owners want to work with ecommerce insurance companies that are reliable, can offer quality coverage at an affordable rate, and can scale with their business. We compared more than 15 carriers on criteria including costs, policy options, and online features, to come up with the top six ecommerce insurance companies. Top 6 Ecommerce…
Business Car Insurance: When Is It Needed?
Business car insurance covers claims resulting from accidents involving vehicles used by your business. Coverage commonly includes liability protection for bodily injury and physical damage but may also include coverage such as collision and medical payments. Depending on the carrier, company car insurance costs $600 to $2,400 per vehicle annually. Consider Progressive Commercial for your…
