In just three short years, Berkshire Hathaway’s small business unit biBERK has gone from an Insurtech experiment that offered a single coverage to a leading online platform with a robust lineup of insurance products. We sat down with President Peter Shelley to discuss biBERK’s success and to find out what we can expect in the…
About the Author
Virginia Hamill
Virginia Hamill is an editor with our finance team focusing on insurance. Prior to joining Fit Small Business, Virginia worked in the wholesale division of Insureon, an online insurance agency. She holds a Master’s Degree from DePaul University and has written for a number of digital finance and insurance companies, including Kin and TopstepTrader.
When not busy pounding the keyboard, Virginia likes to try enchilada recipes and snuggle her pug Bogey.
Professional Liability Insurance for Counselors
Professional liability insurance for counselors is a business policy designed to cover malpractice claims brought against mental health therapists such as psychologists, occupational therapists, and social workers. Policies pay for your legal defense, including civil awards, if you’re accused of professional negligence. Counseling liability insurance usually costs $400 – $3,000 per year. One way counselors…
How Much Does Professional Liability Insurance Cost?
Professional liability is a type of business insurance for anyone who makes a living providing expert services or advice. These individuals face higher risk of negligence lawsuits, and professional liability covers their defense by paying for lawyers, investigators, and court awards or settlements. Most small business owners pay $500 – $3,500 annually for this coverage….
Business Insurance: The Ultimate Guide for Small Businesses
Business insurance is a form of protection small business owners can buy to safeguard their personal or business assets. Getting the appropriate coverage for your operations protects your assets by covering customer lawsuits, property damage, and other perils so that the costs that follow a disaster don’t put you out of business. What Business Insurance…
Cannabis Insurance: Cost, Coverage & Providers
Cannabis insurance refers to a group of business policies that cover risks inherent in the marijuana industry. However, different operations require different kinds of marijuana insurance policies. Most cannabis businesses, including dispensaries, cultivators, and testing labs, need at least general liability insurance, which they can usually get for $700 – $3,000 annually. Embroker makes it…
Best Commercial Truck Insurance for Business 2019
Business owners might assume that commercial truck insurance is only for the semi-trucks used by owner-operators and motor carriers. However, all sorts of other businesses may have delivery vans and pickups that also need coverage. To help find coverage, we evaluated more than 20 commercial truck companies to come up with our top six. Top…
General Liability vs Professional Liability Insurance: Which Is Right for You
The main difference between general liability vs professional liability insurance is the risks they cover. General liability insurance pays claims regarding property damage, physical harm, and advertising injury brought by third parties. Alternatively, professional liability, sometimes called errors & omissions, pays claims of financial loss caused by negligence, errors, and omissions when providing professional services….
12 Types of Business Insurance Coverage
Whether you own a startup or an established company, you likely need one or more types of business insurance to protect your assets. The most common small business insurance coverages are general liability and commercial property, which insurers often bundle in a business owner’s policy (BOP). BOPs typically cost between $500 to $3,500 per year….
Food Cart Insurance: Cost, Coverage & Providers
Food cart insurance refers to policies for nonmotorized vehicles, unlike motorized food trucks that have different insurance needs. Most cart owners need general liability for third-party lawsuits and commercial property for damages to their business-owned property. Insurers often combine these coverages into a business owner’s policy (BOP), which costs food cart owners $300 to $800…
LLC Insurance: How Much You Need & What It Should Cost
A limited liability company (LLC) is a business entity that protects company owners from personal liability. While LLCs protect owners’ personal assets, LLC insurance covers the business’s liability in accidents, injuries, and mistakes. LLCs can save money with a business owner’s policy (BOP) that costs between $350 – $1,600 per year. If you have an…
EPLI Insurance: Cost, Coverage & Providers
Employment practices liability insurance (EPLI) covers claims arising from employment-related issues such as wrongful termination, discrimination, and sexual harassment. EPLI insurance costs depend on several factors, including business size, employee turnover, and industry. Small businesses can get EPLI endorsements for as little as $300 annually, while standalone EPLI may cost $800 – $5,000 per year….
BOP Insurance: Cost, Coverage & Providers
A business owner’s policy (BOP) packages general liability and commercial property into a single policy that covers businesses’ most common risks. BOPs are often more convenient and more affordable than purchasing these policies separately. On average, BOP insurance costs about $1,200 per year but can range from $350–$3,000. The Hartford has been assisting small business…
