Food vendor insurance refers to the types of coverage food vendors need to protect their businesses against financial loss from liability claims. The most common types of food vendor insurance are general liability and commercial property. Food vendor insurance costs start around $500–$800 annually and starts at $100 for single events. Every type of food…
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Dance Instructor & Dance Studio Insurance: Cost, Coverage & Providers
Because there isn’t a single policy to cover all their risks, dance instructors need multiple dance studio insurance policies. In most cases, instructors can obtain bundled insurance coverage under a business owner’s policy (BOP) to get comprehensive protection for their most likely losses. BOPs for dance instructors start at $300 annually. Whether you own a…
15 Best Small Business Insurance Companies 2019
The best small business insurance companies offer basic policies, such as general liability, and a broad range of additional coverages that small business owners may need. We reviewed dozens of providers and narrowed them down to our top 15 based on key criteria like coverage types, customer service, and pricing. The Hartford: Overall Best Small…
IT Insurance: Cost, Coverage & Providers
IT insurance is a collection of insurance coverages that protect against third-party liability claims for consultants and businesses focused on delivering technology, computer, or IT services. The two main tech insurance coverage types are professional liability and general liability insurance. The cost of IT insurance ranges between $1,100 and $2,000 per year. Getting the best…
Inland Marine Insurance: Cost, Features & Providers
Inland marine insurance covers products, equipment, and valuable goods as they are transported over land or stored at an off-site location. Unlike commercial property insurance, inland marine covers property while it is away from your main premises. The cost of inland marine varies, but typically have minimums of $250 to $500 for standalone policies. If…
Do I Need Workers’ Compensation Insurance?
Small business owners with employees need workers’ compensation insurance to cover employees’ on-the-job injuries and work-related illnesses. Every state but Texas requires employers to buy this coverage to pay medical bills and lost wages for employees hurt in workplace accidents. Without workers’ comp, employers may have to pay these costs out of pocket. The Hartford…
Ecommerce Business Insurance: Cost, Coverage & Providers
Ecommerce business insurance is a collection of commercial policies designed to protect you and your ecommerce business. A common policy for ecommerce business owners is cyber liability insurance, which covers losses or damages resulting from cyberattacks and data breaches. Most ecommerce businesses require additional policies, so ecommerce insurance costs between $400 to $7,500 annually. CoverWallet…
Experience Modification Rate & How to Lower Workers’ Comp Costs
An experience modification rate (EMR) is a number insurance companies use to represent a business’ prior workers’ comp claims and potential for future injuries. Businesses with lower EMRs pay less for their workers’ compensation insurance. EMRs commonly range between .75 and 1.25 based on a business’ claims history. Keeping your experience modification rate as low…
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What Is Third-party Insurance?
Third-party insurance is liability coverage purchased by you (first party) from an insurance carrier to protect against claims from other people (third party) for damage or injuries you cause. This coverage typically comes packaged in auto, homeowners, renters, and business insurance policies to protect against common risk exposures. How Third-party Insurance Works Third-party liability insurance…
Vacation Rental Insurance: Cost, Coverage & Quotes
Vacation rental insurance covers your risks associated with short-term vacation properties you rent out. Your policy should include coverage for the structure and contents of your vacation rental property and loss of income as well as your liability for other people’s damages. Typical policies cost around $2,000 to $3,000 per year. When shopping for vacation…
The Difference Between Personal and Commercial Auto Insurance
The main difference between personal and commercial auto insurance is the type of driving they cover. While both policies pay for property damage and medical bills after a car accident, personal auto insurance does not typically cover business-related driving, making it the ideal option if your day-to-day operations don’t require a vehicle. Consider Progressive Commercial…
15 Craziest Things You Can Insure in 2019
Chances are you have car insurance. Probably health insurance, too. But do you have space debris insurance? What about alien abduction insurance? And how will you ever be protected against cyber extortion unless you have cyber extortion insurance? It turns out our increasingly risk-averse society is going bonkers with insurance policies. These days, almost anything…
