Restaurant insurance protects owners from a variety of business-related losses, such as lawsuits, property damage, data breaches, or employee injuries. Different policies cover different types of loss, but one coverage common to most restaurants is general liability. A small, limited-service restaurant can usually get general liability insurance for about $1,000 to $2,000 annually. Finding reasonably…
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.
Gym Insurance: Cost, Coverage & Providers
As a gym owner, you have more risk than many other businesses because your operations include engaging people in strenuous exercise. Gym insurance covers the costs associated with injuries and lawsuits. Annual gym insurance costs depend on the specific policy you’re buying. For example, general liability insurance is usually between $500 to $2,000 per year…
20 Insightful Insurance Statistics
People might think that insurance is boring, but the industry is a cornerstone for businesses, homeowners, and everyday consumers. Check out these insurance statistics to see just how this industry is growing and changing. 8 Insurance Industry Statistics About Premiums They say you can’t put a price on peace of mind. Clearly, they’re wrong because…
6 Best Ecommerce Insurance Companies 2020
Small business owners want to work with reliable ecommerce insurance carriers that 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 six best ecommerce insurance companies. Top 6 Ecommerce Insurance Companies…
10 Tips for Lowering Workers’ Comp Premiums
Workers’ compensation insurance is one of the most expensive policies small business owners can buy. Depending on their state, industry, and other factors, some business owners may pay as much as $80 per $100 of payroll for coverage. However, you can take steps to reduce your costs. Here are 10 tips for lowering your workers’…
10 Workers’ Compensation Safety Tips for Employers
Keeping your employees safe is good for business. Not only does it have a positive impact on morale, but it almost always improves your financial situation by boosting productivity and lowering workers’ compensation insurance costs. Following workers’ compensation safety tips, like the 10 listed below, can reduce on-the-job accidents. 1. Assess Your Hazards While there…
10 Workplace Injury Statistics Every Business Owner Should Know
The United States Bureau of Labor Statistics (BLS) publishes an annual compilation of workplace injury statistics that policymakers use to improve working conditions and address safety concerns across the country. We think business owners can also draw on the information to identify and mitigate risks for their employees, which can ultimately help them reduce their…
Landscaping Insurance: Definition, Cost & Providers
Landscaping insurance, or lawn care insurance, is a group of policies that protect your business’s assets. The most common lawn care business insurance policy is general liability, which pays for nonemployees’ injuries and property damage. Landscapers’ general liability insurance starts around $500 per year. However, most landscapers need additional policies, and that increases the overall…
5 Workers’ Compensation Claims Management Best Practices for Employers
Most business owners understand they need workers’ compensation insurance in case an employee gets injured on the job. However, few know the important role they play in workers’ compensation claims management, so we’ve compiled a list of best practices employers can use to make sure workers are taken care of and claims are handled promptly….
What Is an Additional Insured?
Additional insured endorsements are amendments to insurance policies that extend limited coverage to entities not already named on the policy. Typically, the additional insured is a person or organization that could benefit from the protections the policy offers like companies that hire contractors. As an additional insured, the hiring company is protected if the contractor…
Cyber Liability Insurance: Cost, Coverage & Who Needs It
Cyber liability insurance protects businesses from losses or damage caused by cyberattacks and data breaches. These expenses can include data restoration, extortion, legal fees, and regulatory fines. Costs vary depending on your risk factors and the coverage you choose, but small businesses with moderate risk can usually pay around $1,500 per year for cyber insurance….
Workers’ Comp Penalties for Noncompliance
States that mandate employers carry workers’ compensation insurance—which is every state but Texas—penalize business owners who fail to comply with regulations. These workers’ comp penalties range from daily fines to jail time, depending on the offense and state law. Some even allow injured employees to sue for compensation if their employers don’t carry coverage. Perhaps…