Oil and gas insurance is a series of policies designed to protect companies involved in the production and distribution of oil and natural gas. The oil and gas industry poses both significant safety and environmental concerns that different insurance policies address. Even small oil and gas companies can expect to pay thousands in premiums 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.
Landlord Insurance: Definition, Cost, Features & Providers
Landlord insurance is a specific type of property insurance that protects landlords against any potential liability caused by residential tenants. Properties can include houses, condos, or apartments. Typically, a landlord insurance policy is 20% – 30% more expensive than a homeowner’s policy. Comprehensive landlord coverage includes dwelling coverage, loss of rental income, and liability coverage….
Commercial Umbrella Insurance: Definition, Cost, Features & Providers
Commercial umbrella insurance provides businesses with added liability coverage when claims exceed the limits of certain primary insurance policies, such as general liability or commercial auto. Most umbrella policies provide an extra $1 million of coverage. The cost of commercial umbrella insurance varies, but most small businesses get annual coverage for $500 to $1,500. Commercial…
Pet Groomer Insurance: Cost, Coverage & Providers
Pet groomer insurance is a combination of insurance policies designed to protect brick and mortar or mobile pet groomers from third-party liability claims, business property losses, and potential injury, death, or loss of animals under their care. Pet groomer insurance policies including general liability, business property and workers’ compensation start around $4,000 annually. Understanding the…
Key Man Insurance: Cost, Coverage & Providers
Key man insurance is life and disability insurance that covers key employees (including business owners and founders) important to the business’ success. The business owns the policy, pays the premiums, and receives the payout if the key person dies or becomes disabled. A $100,000 policy for key man insurance starts at $100 per month. Key…
Garage Liability Insurance: Cost, Coverage & Providers
Garage liability insurance refers to insurance needed for auto repair shops, auto dealerships, tow truck drivers, and service stations. The primary coverage type is general liability insurance, which covers third-party bodily injury and damage or theft of machinery. The annual cost of garage liability insurance typically starts between $300 to $1,000 annually. Garage liability insurance…
Landscaping Insurance: Definition, Cost, Features & Providers
Landscaping insurance provides protection against financial losses arising from third-party claims from bodily injury and property damage. Business property insurance and workers’ compensation are additional policies that cover equipment and other assets of landscaping businesses and their employees. The annual cost of landscaping general liability insurance starts around $400 for most small business owners. The…
Contractor Controlled Insurance Program (CCIP): Cost & Providers
A Contractor Controlled Insurance Program (CCIP) is a specific insurance policy purchased by general contractors to coordinate general liability for construction projects. Also called wrap-up insurance, CCIPs are controlled by contractors rather than project development owners. The cost for a CCIP starts at 1% of the construction costs with policy durations extending past construction completion….
Commercial General Liability Insurance Cost, Coverage & Providers
Commercial general liability insurance (CGL) protects businesses from financial losses due to third-party claims for bodily injury or property damage, making it is one of the most important insurance policies any business will buy. Commercial general liability insurance costs vary, but the majority of small business owners pay between $400 and $600 per year. Getting…
Insurance Broker vs Agent: Services & Costs
Both an insurance broker and an insurance agent help consumers buy insurance policies from insurance carriers. The primary difference is who each party works for and represents in the insurance purchase process. An insurance broker works for a client while an insurance agent works for one or more insurance carriers. One of the reasons an…
Owner Controlled Insurance Program: Cost, Coverage & Providers
An Owner Controlled Insurance Program (OCIP), also known as construction wrap-up insurance, covers the owner, general contractor, and all subcontractors involved with a construction project under a single policy. OCIP is typically used on construction projects with construction costs above $10 million, and costs start at 1% of total construction costs. Every construction project has…
Commercial Flood Insurance: Cost, Coverage & Providers
Commercial flood insurance protects a business’ building and contents in the event of a flood. This specialty insurance protects against water damage that isn’t covered by other insurance policies. Federal Emergency Management Agency (FEMA)-backed pricing varies depending on where a business is in a flood zone but starts at $650 and can exceed $10,000 annually….
