Insuring a food truck is a complicated business. Not only do you need to work with a company that knows the industry’s quirks, but you also want one that can identify and cover your particular risks. That can mean going to a brokerage that specializes in food truck insurance, working with a carrier with years…
What Is a Workers’ Compensation Dividend Plan?
A workers’ compensation dividend plan, also known as a workers’ comp participating plan, is a policy that allows employers to take part in the profits earned by their insurers. At their core, dividend plans reward employers for having fewer claims. Many employers choose dividend plans to save on their workers’ compensation insurance. How Workers’ Compensation…
Workers’ Compensation vs Health Insurance
Workers’ compensation is an insurance policy that protects workers by paying their medical bills if they’re injured on the job. Health insurance also pays medical expenses for the insured party. The critical difference is that employers provide workers’ compensation to cover employees’ occupational injuries and illnesses, but it doesn’t pay for nonwork-related medical costs. The…
What Is a Workers’ Comp Ghost Policy?
A workers’ comp ghost policy is purchased by a company with no employees and where the owners are exempt from carrying workers’ compensation insurance for themselves. In most cases, business owners buy these policies because a potential client asks to see a certificate of insurance (COI), proving the business has a workers’ comp policy. The…
What Are Small Deductible Workers’ Compensation Plans?
Small deductible workers’ compensation plans are policies that help employers better control their insurance costs. By agreeing to a deductible, the employer retains some financial responsibility for claims but gets coverage at a discount. The deductibles for these plans vary from state to state, ranging from $100 to $75,000, but most fall between $500 and…
What Is Stop Gap Coverage?
Stop gap coverage is an insurance product that covers a business owner’s liability if their employee sues over a workplace injury. Most workers’ compensation insurance protects employers in that situation by paying their legal bills. However, some policies don’t have this protection, leaving the business owner with a “gap” in their coverage. Stop gap insurance…
Food Truck Insurance Cost & Coverage
Food truck insurance uses several different insurance policies to cover food trucks, other business property, employees, and other liabilities. Most food truck businesses need more than one type of insurance coverage, including commercial vehicle insurance and general liability. Basic food truck insurance costs start around $2,000 annually but increase significantly for broader coverage. Food truck…
5 Best Photography Insurance Companies
Photographers and videographers usually have three options for getting insurance. The two most common are insurance carriers that create their own policies and brokers who can sell policies from several carriers. The third option is getting insurance through a professional trade association, which can be the most affordable but typically requires membership. Our list for…
A (Blessedly) Brief History of Workers’ Compensation
Workers’ compensation as we know it in the United States is a relatively new mandate, but its origins go back thousands of years. Present-day workers’ compensation insurance pays for medical care, lost wages, and rehabilitation services when an employee is injured while performing work duties. How exactly does this differ from the original forms of…
5 Best Painting Insurance Companies
The best painting insurance companies offer painters the coverage they need at a fair price. However, every painting business is unique, so figuring out what that looks like for your operations can be tricky. We evaluated dozens of painters insurance providers based on their coverages, typical premiums, and online experiences to identify the five best….
What Is Foreign Workers’ Compensation Insurance?
For many businesses, daily work means functioning on a global scale with employees stationed remotely or traveling for business. Just like employees working in the United States, these employees need workers’ compensation coverage in case they’re injured while performing work duties. This is where foreign workers’ compensation insurance comes in. How Foreign Workers’ Compensation Coverage…
Photography Insurance: Cost & Coverage
Professional photographers and videographers need photography insurance to protect their assets from the cost of lawsuits and property damage. Typically, that means having general liability, professional liability, and equipment coverage. Insurance for photographers costs around $250 to $2,800 per year, depending largely on the number of policies you need, but also your clientele, venues, and…