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 for your…
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…
Home-based Business Insurance: Costs, Coverage & Companies
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 General Liability Insurance Cost?
General liability insurance costs range from $350 to $2,500 per year depending on your industry and company size. Policies pay for third-party injuries or property damage that could become financially devastating to an uninsured company. Defending liability claims average $75,000, making general liability worth the premium. Few owners should try to run their business without…
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….
Insurance Deductible: Definition & How They Work
An insurance deductible how much the policyholder pays before the insurance company starts to pay for a claim. When buying insurance, consider what you pay for premiums and what you will be responsible for in deductible during a claim. Increasing deductibles help keep insurance premiums down and allow you to afford more overall coverage. Determining…
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…