A general liability audit is when your insurance agency reviews your risk exposure based on payroll, gross sales, and employees’ job duties. It’s a way to make sure that you have the proper amount of coverage and are paying the correct amount for general liability insurance. Why Insurers Audit General Liability Policies General liability policies…
General Liability Insurance Coverage & Cost
Commercial general liability insurance (CGL) protects businesses from financial losses due to third-party claims for bodily injury or property damage, making it one of the most important insurance policies any business will buy. General liability insurance costs vary, but the majority of small business owners pay between $400 and $1,000 per year. What Is General…
Why Independent Contractors Need Liability Insurance
Often, independent contractors and freelancers opt not to get liability insurance. They either feel they don’t have enough business to have any exposure to or are not generating enough revenues to be considered the target of a claim or lawsuit. The truth is that independent contractors risk expensive claims for accidents. Having general liability insurance…
How Much General Liability Insurance Do I Need?
While some have more than others, every business has exposure when it comes to general liability claims. How much general liability insurance a business needs will depend on its assets and revenues, operational risks, and contractual obligations. Every business is unique, so it’s important to discuss your general liability needs with an insurance expert. Do…
The Difference Between Bonded and Insured & Why You Need Both
Sometimes, you may hear a contractor say that they are bonded and insured, but what this means can be a little bit of a mystery. Being bonded means you have purchased a surety bond that offers limited guarantees to clients. Being insured means that you have an insurance policy that protects against accidents and liabilities,…
How Is General Liability Premium Calculated?
Ever wonder why your general liability premium is more than your buddy’s business insurance costs? It’s not an unreasonable question to wonder this and try to determine how general liability insurance is calculated. Depending on the unique factors of your business, insurance companies will rate the risk and determine your premium. Here are some insights…
Insurance Broker vs Carrier: Which Should You Choose?
There is more than one way to buy a commercial general liability insurance policy. You can buy it directly from the carrier, through an agent, or via a broker. The carrier is responsible for maintaining the terms of the insurance contract, also known as a policy. An agent works on behalf of an insurance carrier…
Arkansas Workers’ Compensation: Laws, Providers & Rates
Arkansas workers’ compensation law dictates that any business with at least three employees must maintain workers’ compensation insurance. While rates vary considerably, employers can expect to pay 70 cents per $100 of payroll in premium costs across all industries in the state. Failure to maintain workers’ compensation insurance can result in penalties and fines. Finding…
Nebraska Workers’ Compensation: Laws, Providers & Costs
Regulations in Nebraska require most employers with at least one employee to maintain workers’ compensation insurance. Failure to do so can result in the employer being responsible for the costs of accidents as well as face penalties and fines. Employers can expect to pay $1.14 per $100 of payroll in workers’ comp premiums. Shopping for…
Georgia Workers’ Compensation: Laws, Rates & Providers
Georgia workers’ compensation laws mandate employers with three or more employees must carry workers’ comp insurance to pay for employees’ medical treatment and lost wages when they experience a work-related injury or occupational illness. On average, Georgia employers pay between $1.08 per $100 of payroll for workers’ compensation insurance. Who Needs Workers’ Compensation Insurance in…
Virginia Workers’ Compensation: Laws, Providers & Rates
Workers’ comp is required by law in most states, and Virginia employers must carry a policy once they regularly employ more than two employees. The average cost of workers’ compensation insurance in Virginia is 74 cents per $100 of payroll. is a small business insurance expert with decades of experience helping owners just like you….
When Is General Liability Insurance Required?
General liability insurance covers incidents where your business is accused of causing bodily injury or property damage to a third party. Although businesses aren’t required to carry commercial general liability insurance by law, many find the coverage necessary in certain instances. Even when it isn’t required, it is a good idea to have at least…