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…
Insurance
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…
6 Most Common Workplace Injuries & How To Avoid Them
Business owners wanting to keep workers’ compensation costs down need to reduce compensable injuries among their employees. One of the best ways to do that is to address risk exposures. To help you reduce injuries, we’ve compiled the six most common workplace injuries with tips on how to avoid them. This list is compiled from…
Key Man Insurance: Cost, Coverage & Providers
Key man insurance, or key person insurance, is life insurance coverage a business takes out for an individual employee who is crucial to the financial success of the company. The business purchases the policy, pays the premiums, and is the beneficiary in the case of the death or disablement of the key person. A 20-year…
What Is a General Liability Audit?
A general liability audit is when your insurance agency reviews your risk exposure based on payroll, gross sales, and employees’ job duties. It’s a way to make sure that you have the proper amount of coverage and are paying the correct amount for general liability insurance. Why Insurers Audit General Liability Policies General liability policies…