Errors and omissions insurance is specialized liability insurance covering allegations that professional services were not rendered correctly or to contract terms. Claims may include the costs to complete contracts, redo work, or other damages resulting in loss. After reviewing over 25 of the top small business insurance providers, we’ve narrowed it down to our six…
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How Much Does General Liability Insurance Cost
General liability insurance costs range from $400 to $1,300 depending on the industry you work in and how big your company is. It pays for third-party injuries or property damage claims that could become financially devastating to an uninsured company. Defending liability claims average $75,000, making one claim’s value worth the premium. What General Liability…
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…
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….
Oil and Gas Insurance: Cost, Coverage & Providers
Oil and gas insurance is a series of policies designed to protect companies involved in the production and distribution of oil and natural gas. The oil and gas industry poses both significant safety and environmental concerns that different insurance policies address. Even small oil and gas companies can expect to pay thousands in premiums annually….
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….
Commercial Umbrella Insurance: Definition, Cost, Features & Providers
Commercial umbrella insurance provides businesses with added liability coverage when claims exceed the limits of certain primary insurance policies, such as general liability or commercial auto. Most umbrella policies provide an extra $1 million of coverage. The cost of commercial umbrella insurance varies, but most small businesses get annual coverage for $500 to $1,500. Commercial…
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….