In Wisconsin, workers’ compensation insurance laws require most employers with three or more employees to carry coverage. That seems simple enough, but laws add other situations where business owners must cover employees, making workers’ comp insurance nearly universal in the state. The cost is anywhere between 19 cents and $20 per $100 of payroll annually,…
About the Author
Kimberlee Leonard
Kimberlee Leonard is a staff writer at Fit Small Business focusing on finance and business insurance. When she joined the team in 2018, she brought over 20 years of experience between being a financial consultant, insurance agency owner, and owner of a content marketing agency. Kimberlee’s expertise has been featured in articles from a wide range of print and digital publications like The Latest, and The Houston Chronicle.
In her free time, Kimberlee like to enjoy the Hawaiian tradewinds with her dog Arky, and soaking in the island of Oahu with her son. She is also the author of several children’s books.
What Is a Waiver of Subrogation?
A waiver of subrogation is an endorsement policyholders get to prohibit their insurers from recovering funds paid in a claim from the people who are ultimately deemed responsible for the loss. Contractors often opt for these waivers when they work onsite for a client because they minimize the likelihood of prolonged lawsuits if something goes…
Commercial Package Policy: What CPP Insurance Is & How It Works
A commercial package policy (CPP) is an insurance policy that bundles coverage for various risks and allows business owners to truly tailor their protection. CPPs often combine general liability with property coverage. Costs vary widely based on selected policies and coverage amounts, but getting CPPs usually saves business owners up to 10% on annual premiums….
Missouri Workers’ Compensation Insurance: Top Providers, Rules & More
Missouri workers’ compensation requires employers with five or more employees to carry insurance for injured employees’ medical bills and lost wages unless they’re in construction. In that case, employers must have workers’ comp if they have even one employee. Workers’ comp premiums in Missouri range from 12 cents to more than $30 per $100 of…
What Is a Surety Bond?
Surety bonds are contracts between three parties: the business owner performing the work, the client requesting the bond, and the business issuing the bond. If a client claims the business owner failed to deliver services as promised, the bond issuer pays the damages. Bond issuers typically require business owners to repay the claim costs. Surety…
Ohio Workers’ Compensation Insurance: Rules and Coverage
Workers’ compensation insurance pays medical expenses and lost wages when employees are injured during work. In Ohio, workers’ compensation insurance can only be purchased through the Bureau of Workers’ Compensation, not through private insurers. Rates vary based on, payroll job descriptions and claims history, but there is a $120 application fee. Even though Ohio is…
Handyman Insurance: Types, Costs & Where to Find
Handyman insurance refers to the liability and property coverage for unlicensed tradesmen. A handyman, at the very least, should have general liability, workers’ compensation, and equipment coverage in the event tools are lost or stolen. Sole proprietors with no employees should expect to pay approximately $1,500 annually for liability and equipment coverage. Finding the right…
Pilates & Yoga Insurance: Cost, Coverage & Carriers
Yoga insurance is a group of commercial policies that cover anything from a studio fire to student injuries to negligence claims. Each policy covers different risks associated with Pilates or yoga practices. Depending on the coverage types and limits you select, Pilates and yoga teacher insurance costs range between $100 and $400 per year. Whether…
Workers’ Compensation Insurance Best Practices for Employers
Nearly every employer who has one or more employees is required to have workers’ compensation insurance. Utilizing workers’ compensation best practices helps employers keep premium costs down while helping them build a strong culture where their employees feel valued and safe. Best practices start with smart hiring and end with excellent claims management. What Workers’…
Gym Insurance: Cost, Coverage & Providers
Gym insurance covers a gym’s elevated risks where liability increases when people engage in strenuous cardio and weightlifting programs. Due to this higher business risk, many commercial insurance providers offer business property coverage but may refer you to specialty liability providers. Annual costs start around $1,000 for property and $1,500 for general liability. There are…
Indiana Workers’ Compensation Insurance: Top Providers & Rules
Indiana workers’ compensation laws require most employers to maintain insurance that covers medical payments and lost wages for employees who are injured on the job. However, Indiana is also consistently one of the least expensive states when it comes to purchasing workers’ compensation. Rates range between 9 cents and $6.10 per $100 of payroll. Getting…
Life Insurance Costs & What Affects Rates
Life insurance costs depend on several factors, including age, gender, health, the type of coverage, and the policy’s face value. Term life and whole life are the two most popular types of life insurance, with term life being the most affordable. Typical term life insurance rates range from about $30 to $60 per month for…
