Professional liability insurance, also known as errors and omissions insurance, covers claims that a business made mistakes or was negligent when providing expert advice or professional services. The cost of professional liability starts around $400 but can exceed $8,000 annually depending on several factors, such as industry type and coverage limits. Getting the right errors…
Washington Workers’ Compensation Insurance: Laws, Rules & More
Workers’ compensation insurance is required in most states to pay employees’ medical bills and wage replacement after a workplace injury or illness. In Washington, workers’ compensation insurance is required for all employers with one or more employees. Washington is unique because it’s a monopolistic state, which means employers must purchase coverage through the state fund….
Professional Liability Insurance for Consultants
Professional liability insurance for consultants offers protection in lawsuits over the professional services they provide. Policies cover third-party claims that your business made costly errors or omissions by paying for your legal defense. Annual premiums for a professional liability policy can range from $500 to $1,400, depending largely on industry and coverage amount. is a…
What Does General Liability Insurance Cover?
General liability insurance is a fundamental business policy covering risks inherent in most operations, namely harm to third parties. Many insurers write general liability on standardized forms, making coverage similar across carriers. Understanding standard general liability insurance coverage can help you manage risks and identify other necessary policies. Most business owners get general liability insurance…
Crime Insurance: Cost, Coverage & Providers
Commercial crime insurance is a specialized coverage that pays for losses resulting from criminal acts, including employee dishonesty, and third-party fraud. It covers an important gap in commercial property insurance and is essential in certain industries that face a greater risk for crime, such as retail and financial advisors. Standalone crime insurance costs between $240…
Ohio Workers’ Compensation Insurance: Rules and Coverage
Workers’ compensation insurance pays medical expenses and lost wages when employees are injured during work. In Ohio, workers’ compensation insurance can only be purchased through the Bureau of Workers’ Compensation, not through private insurers. Rates vary based on payroll, job descriptions, and claims history, but there is a $120 application fee. Even though Ohio is…
Pilates & Yoga Insurance: Cost, Coverage & Carriers
Yoga insurance is a group of commercial policies that cover anything from a studio fire to student injuries to negligence claims. Each policy covers different risks associated with Pilates or yoga practices. Depending on the coverage types and limits you select, Pilates and yoga teacher insurance costs range between $100 and $400 per year. Whether…
Workers’ Compensation Insurance Requirements by State
Forty-nine states require most employers to carry workers’ compensation insurance. Texas is the only state that gives employers the choice to offer coverage. Rules vary, so it’s important to research workers’ compensation insurance requirements by state. Some states require workers’ comp for every business and others base the requirement on the number of employees. What…
Professional Liability Insurance for Nurses: Definition, Cost, Features & Providers
Professional liability insurance for nurses is coverage designed to protect those in the nursing profession against claims arising out of their duties. It covers accusations of errors and omissions in the course of a nurse’s work. Pricing options vary, but a typical professional liability insurance policy for nurses costs $80 to $1,000 per year. For…
How Much Does Business Insurance Cost?
Small business owners often wonder how much business insurance costs. It’s an important expense that protects against liability claims and covers business-owned property. Factors that influence the cost of business insurance vary widely, including industry, location, and number of employees. Small businesses can expect to pay between $400 and $3,200 annually, depending on coverage needs….
Indiana Workers’ Compensation Insurance: Top Providers & Rules
Indiana workers’ compensation laws require most employers to maintain insurance that covers medical payments and lost wages for employees who are injured on the job. However, Indiana is also consistently one of the least expensive states when it comes to purchasing workers’ compensation. Rates are at 70 cents per $100 of payroll. Getting workers’ compensation…
Life Insurance Costs & What Affects Rates
Life insurance costs depend on several factors, including age, gender, health, the type of coverage, and the policy’s face value. Term life and whole life are the two most popular types of life insurance, with term life being the most affordable. Typical term life insurance rates range from about $30 to $60 per month for…