All Insurance Articles - Page 4

Surety bonds are contracts between three parties: the business owner performing the work, the client requesting the bond, and the business issuing the bond. If a client claims the business owner failed to deliver services as promised, the bond issuer pays the damages. Bond issuers typically require business owners to repay the claim costs. Surety…

Commercial auto insurance covers accidents involving vehicles used or owned by your business. Third-party liability coverage for injuries and property damage is required in most states, but policies also can include first-party coverage such as medical payments and collision. For small business owners, annual commercial vehicle insurance costs $600 to $2,400 per vehicle. If you’re…

Landscaping insurance is a group of policies that protect your business’s assets. The most common lawn care business insurance policy is general liability, which pays for nonemployees’ injuries and property damage. Most businesses need other policies like property insurance and auto coverage. Landscapers’ general liability insurance starts around $400 per year. The policies you need…

Garage liability insurance is a policy auto repair shops, dealerships, tow truck drivers, and service stations need. It covers third-party bodily injury and property damage caused by garage operations as well as vehicles in the business’s care, custody, or control. The annual cost of garage liability insurance typically starts between $300 to $1,000 annually. Providers…

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…