Commercial auto insurance pays for claims arising from accidents involving vehicles used by your business. Coverage includes third-party liability for property damage and bodily injury, but policies can also include first-party coverage such as medical payments and collision. For small business owners, annual commercial vehicle insurance costs $750 – $1,200 per vehicle. If you’re in…
About the Author
Virginia Hamill
Virginia Hamill is a junior finance writer 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.
Staffing Agency Insurance: Cost, Coverage & Providers
Staffing agency insurance is a set of business policies agency owners can purchase to protect their assets. Each policy covers different risks many employment agencies face by paying for the costs associated with them. At a minimum, most agencies need general liability to cover third-party injuries and property damage and cost $400 – $1,000 annually….
Hair Salon Insurance: Cost, Coverage & Providers
Salon insurance is a category of business policies for salons, barber shops, and spas. The most common form of hairdressing insurance is commercial general liability, which covers third-party bodily injury, property damage, and theft on your premises. Salon insurance costs for most small businesses typically run from $350 to $1,300 per year in premium. When…
Convenience Store Insurance: Cost, Coverage & More
Convenience store insurance is a collection of policies owners purchase to protect their assets. One of the most common policies for convenience stores is general liability insurance, which covers third-party claims of bodily harm and property damage. When this is combined with commercial property insurance, convenience store owners can expect to pay $600 to $2,000…
How to File Business Insurance Claims in 8 Steps
Business insurance claims are requests policyholders make to their insurance carriers after a loss or when a covered peril occurs. First, the policyholder demonstrates either the loss or peril happened, then the carrier investigates to determine if the event is covered. If it is, the carrier covers the policyholder’s expenses up to the policy limits….
Certificate of Liability Insurance (COI): How to Request + Sample
A certificate of insurance (COI), sometimes called a certificate of liability insurance, is a one-page document that summarizes your coverage and can be used as proof of insurance. The form includes policy details such as coverage limits and effective dates, so business owners can find and share them easily without revealing other, more private information….
Janitorial Insurance: Cost, Coverage & Providers
Janitorial insurance is a group of policies cleaning businesses purchase to cover their risks. Every cleaning business from residential maid services to commercial janitorial companies need business insurance, but which policies they get depends on their business operations and level of risk. Janitorial insurance costs range from $375 ― $3,500 per year. Hiscox understands the…
Captive Agent vs Independent Agent: Which Is Right for You?
The main difference between a captive agent vs independent agent is the number of insurance carriers they represent. Captive agents are paid by a single insurance carrier and can only sell its policies, while independent agents work for themselves and represent multiple carriers. Independent agents often charge higher fees but offer broader product selection. Small…
National Insurance Crime Bureau (NICB) – The Ultimate Guide
The National Insurance Crime Bureau (NICB) is a not-for-profit, membership organization that works with government officials and law enforcement agencies to combat insurance fraud. Members include property and casualty insurers, vehicle rental businesses, auto auctions, vehicle financing companies, self-insurance groups, and strategic partners, including CARFAX, Boat History Report, Experian, and LexisNexis Risk Solutions. What the…
Retail Insurance: Cost, Coverage & Where to Find
Retail insurance refers to the various insurance policies retail businesses need in order to cover the liability they face in their day-to-day operations. Most small business retailers need, at a minimum, general liability and commercial property insurance, and can expect to pay at least $1,000 – $2,000 per year in combined premiums. Finding the right…
Publisher’s Liability Insurance Cost, Coverage & Providers
Publisher’s liability insurance is a specialized errors and omissions policy designed for publishers of books, magazines, newspapers, blogs, and other kinds of media. The policy covers their legal costs if they’re accused of negligence, plagiarism, defamation, or copyright infringement. Small publishing operations can usually get publisher’s liability insurance for $300 – $1,600 per year. Hiscox…
6 Best Commercial General Liability Insurance Companies 2019
Small business owners want to work with commercial general liability insurance companies that are reliable and can offer quality coverage at an affordable rate. We compared more than 20 carriers on criteria including costs, policy options, and online availability to come up with the top six commercial general liability insurance companies. Top Commercial General Liability…
