Employment practices liability insurance (EPLI) protects small businesses from liability arising from employment practices as they relate to employees. Claims against the business for wrongful termination, sexual harassment, or gender discrimination are examples of employment practices that EPLI covers. Small businesses can purchase EPLI as a stand-alone policy for $800 to $5,000 per year or…
Insurance
Bonded vs Insured (& Who Needs Both)
The difference between bonded and insured is simple: a bond serves only one party, while insurance can protect both the policyholder and claimants. Saying you are bonded means you purchased a surety bond that offers a limited guarantee to an obligee (customer). Meanwhile, having insurance means you purchased an insurance policy, which usually has a…
6 Ways To Save Money on Business Insurance in 2024
When shopping for insurance, you’ll likely need to strike a balance between finding the cheapest business insurance and purchasing a policy that will protect your business. Good news—it’s possible to find quality coverage at an affordable price! Start by identifying the right policies for your business and bundling those coverages. Then, compare insurance companies’ offerings…
Quick Guide to Workers’ Comp Insurance for Self-Employed 2024
Workers’ comp insurance for self-employed individuals is a policy business owners buy for themselves in case they’re injured while performing job duties. A self-employed workers’ comp policy can pay for lost wages and related medical bills, allowing the self-employed business owner to keep their business afloat while they recuperate, or it can be a ghost…
Gym Insurance: Cost, Coverage & Best Providers 2024
Gym insurance can be a single policy or a combination of policies that protect your business from customer injuries, subsequent lawsuits, or damage to your equipment. General liability and a business owner’s policy (BOP) are the two most common coverages gym owners need. While costs can vary, general liability for a gym ranges from approximately…
6 Best Beauty Salon Insurance Companies 2024
Beauty salons, depending on the type of business, need a wide range of coverages, including general liability, professional liability, property, and workers’ compensation for those with employees. When researching the best beauty salon insurance companies, it is important to consider ones that have the necessary policies with endorsements and custom coverages that match your particular…
Food Vendor Insurance: Cost, Coverage & Best Companies
Food vendor insurance is a policy or a combination of policies that food vendors need to protect their businesses from the financial loss of a claim. The average annual cost for the most common policy, general liability, ranges from $350 to $1,000, with a coverage amount of $1 million per occurrence and $2 million aggregate….
6 Cheapest General Liability Insurance Companies for 2024
The leading cheapest general liability insurance companies are affordable without compromising on customer service or the quality of coverage for your business. Every business is different and so it is important to find a provider that not only offers cheap general liability insurance but makes it customizable through endorsements to fit your specific industry. With…