A contractor controlled insurance program (CCIP) is a specific insurance policy purchased by general contractors to coordinate general liability for construction projects. Also called wrap-up insurance, CCIP insurance is controlled by contractors rather than project development owners. The cost for a CCIP starts at 1% of the construction costs with policy durations extending past construction…
A business owner’s policy (BOP) packages general liability and commercial property into a single policy that covers businesses’ most common risks. It’s often more convenient and more affordable to buy a BOP than to purchase these policies separately. On average, BOP insurance ranges from $500 to $4,900, depending on the chosen coverage and the business’s…
Hair salon insurance refers to the business policies salon, barbershop, and spa owners typically purchase. The most common hair salon policy is general liability, which covers claims that your business caused injury, property damage, or reputational harm. Salon insurance costs range from $300 to $5,800 per year, depending on how many policies you need. Cost…
Certified public accountant (CPA) and accounting insurance generally refers to the common types of policies bookkeepers, tax preparers, and accounting professionals need. The primary coverage accountants need is professional liability insurance to pay for their legal fees if clients accuse them of negligence. Professional liability insurance for CPAs and accounting professionals costs between $900 to…
Cargo insurance pays the value of shipments, up to coverage limits, when shipments are lost or damaged. Certain businesses that ship goods need cargo insurance, but those with infrequent shipments can get coverage for single shipments. Small business owners typically insure cargo through the shipper. Some major shipping companies, such as FedEx, UPS, or the…
Personal trainer insurance refers to a group of policies designed to protect a personal trainer’s business assets. One policy almost all trainers need is general liability, which covers the costs of common lawsuits business owners face. Personal trainers usually need professional liability coverage in addition to general liability, which together may cost around $1,240 to…
Painters insurance includes several policies, such as general liability and commercial auto. Some painters may also need surety bonds, property insurance, and workers’ compensation. For a one-person business, the total cost for a business owner’s policy (BOP) with commercial auto is between $1,170 to $3,500 annually, depending on whether the type of work is interior,…
Public liability insurance covers businesses for claims made by third parties, such as customers, for injury or property damage caused by the insured business. Public liability typically only covers injury and property damage claims that happen at the physical location of the business. How Public Liability Insurance Works Public liability insurance is designed to protect…
