Home-based business insurance protects business owners working out of their homes for claims arising from third-party liability, property damage, and more. The most common types of home office insurance are general liability and commercial property insurance. When getting both types, the typical cost of home business insurance ranges from $750 to $1,500 per year. Home-based…
Builder’s Risk Insurance: Definition, Cost & Providers
Builder’s risk insurance provides financial protection for building projects while they are under construction or renovation. Policies cover fire, theft, vandalism, and weather. Builder’s risk insurance costs typically range between 1% and 4% of the total construction costs, or around $1,000 to $4,000 per $100,000 of construction costs depending on the project details. How Builder’s…
General Liability Insurance vs Business Owner’s Policy
General liability insurance and a business owner’s policy (BOP) both cover the costs associated with third-party claims of physical injuries, property damage, and advertising injuries. However, a BOP includes added protection of commercial property insurance for your business’ physical assets. BOPs are a good option for small businesses looking to bundle their insurance for savings….
Public Liability Insurance: Cost, Coverage & Quotes
Public liability insurance is the term used in the United Kingdom for what United States agents call general liability insurance. U.K. policies cover claims your business caused another party’s injury or property damage. There is a U.S. public liability policy that costs approximately 10% less than general liability insurance but offers limited coverage. To protect…
Business Insurance for Startups: Cost, Coverage & Providers
Business insurance for startups refers to several potential insurance policies that protect a startup’s assets, investors’ interests, and employees. At a minimum, startups need general liability and business property but may also need policies such as workers’ compensation, professional liability, and key man insurance. A business owner’s policy (BOP) combines these with prices starting at…
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….
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. makes it easier…
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….
Landlord Insurance: Definition, Cost, Features & Providers
Landlord insurance is a specific type of property insurance that protects landlords against any potential liability caused by residential tenants. Properties can include houses, condos, or apartments. Typically, a landlord insurance policy is 20% – 30% more expensive than a homeowner’s policy. Comprehensive landlord coverage includes dwelling coverage, loss of rental income, and liability coverage….
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….
Pet Groomer Insurance: Cost, Coverage & Providers
Pet groomer insurance is a combination of insurance policies designed to protect brick and mortar or mobile pet groomers from third-party liability claims, business property losses, and potential injury, death, or loss of animals under their care. Pet groomer insurance policies including general liability, business property and workers’ compensation start around $4,000 annually. Understanding the…
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. has been assisting small business owners get…