Auto repair shops, dealerships, tow truck drivers, and service stations need garage liability insurance. This policy carries similar coverage to general liability—with provisions for third-party bodily injury and property damage from garage operations and vehicles in the business’ care, custody, or control. The annual garage insurance cost typically ranges from $1,150 to $2,300. Providers like…
Insurance
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…
What Is Stop Gap Coverage? Coverage & Common Exclusions
Stop gap insurance is a policy to protect a business owner’s liability if their employee sues because of a workplace injury. Most workers’ compensation policies have employer liability insurance included automatically. However, some policies don’t have this protection, leaving business owners with a “gap” in their coverage—and stop gap insurance covers that gap. What Stop…
Home-Based Business Insurance: Cost, Coverage & Providers
Business owners working from home need home-based business insurance for losses arising from third-party liability and property damage. General liability and commercial property are the two most common types of home-based business insurance policies. The typical cost for both policies can range from $862 to $1,725 annually. How Home-Based Business Insurance Works Most homeowner policies…
5 Best Commercial Auto Insurance Companies
Small business owners looking for commercial auto insurance should look for tailored coverage, opportunities for discounts, and responsive customer service. Using our proprietary rubric, we evaluated 17 commercial auto insurance carriers and looked specifically at financial stability, customer satisfaction, convenience, and the policies available. These are the five best providers of commercial auto insurance: :…
6 Best Business Insurance for LLCs
The best business insurance for limited liability companies (LLCs) helps preserve the business from financial loss, has flexible limits, and offers tailored coverage for your industry. To help you find the best one for your business, we evaluated 19 providers, focusing on financial stability, customer service, convenience, and the policies offered, while also factoring in…
Business Owner’s Policy vs General Liability Insurance
General liability and business owner’s policy (BOP) are insurance policies that offer protection by helping with the costs associated with a claim, and both policies can be customized with endorsements. The difference between a business owner’s policy and general liability is general liability covers the costs of third-party liability claims, while the BOP carries the…