The main difference between an insurance broker vs carrier is that an insurance carrier creates and services the insurance policy, whereas a broker helps a customer find the best policy among multiple carriers at the best possible rate. Carriers are responsible for maintaining the insurance contract, or policy, and responding appropriately and in a timely…
Insurance
What Is Personal and Advertising Injury Coverage?
Personal and advertising injury coverage protects your business against claims, typically involving an infringement on a third party’s rights or intellectual property. It can cover libel, slander, and copyright infringement. Coverage is included in a commercial general liability (CGL) policy and, in the event of a claim, provides defense up to your coverage limits. How…
Next Business Insurance Review: Policies & Alternatives
Next Insurance is a small business insurance company that sells policies directly to customers online while also working with agents. It offers the core coverages of general liability, professional liability, business owner’s policy, and workers’ comp insurance for more than 1,300 different types of businesses. Policies can be obtained online without speaking to anyone after…
Swim Instructor Insurance: Best Providers, Cost & Coverage
Swim instructor insurance is a policy providing liability coverage for someone who directly oversees training. The providers of this insurance sometimes lump swim instructors into “sports instructors,” which cover a range of athletic activities, so insurance options vary widely. Also, some insurers offer a policy that carries both general and professional liability insurance, but general…
Handyman Insurance: Cost & Coverage
Handyman insurance is a combination of policies, the most common ones being commercial property and general liability. These coverages provide protection for your business against property loss and legal fees if you’re sued for injuries, have to pay for property damage, or replace your property. General liability and commercial property handyman insurance costs anywhere from…
Experience Modification Rating: Definition & How To Improve It
An experience modification rate (EMR) is a multiplier insurance companies use to help set workers’ compensation premiums. Insurers determine your EMR by looking at your workers’ comp claims history and potential for future injuries compared to others in your industry. Businesses with lower EMRs pay less for workers’ compensation insurance. EMRs commonly range from 0.48…
CoverWallet Insurance Brokerage Review
CoverWallet is an online business insurance brokerage that connects small businesses with more than 10 top-rated carriers to provide multiple insurance options. It’s licensed to offer insurance in all 50 states and has an online account that allows users to manage all their policies in one place. In our evaluation of the best brokers for…
What Is an Insurance Endorsement?
Insurance policies are contracts—and insurance endorsements are amendments to the contract that legally change the coverage provided in the policy. An endorsement, sometimes called an insurance rider, either broadens or restricts coverage and gives policyholders the freedom to customize their insurance for an additional cost at any point during the policy term. How Insurance Policy…