Food vendor insurance refers to the types of coverage food vendors need to protect their businesses against financial loss from liability claims. The most common policies for food vendors are general liability and commercial property. Food vendor insurance costs start around $300 to $1,300 annually and can start as low as at $60 for single-day…
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How Are Workers’ Comp Rates Calculated?
Determining workers’ compensation costs requires complicated algorithms. However, the basic workers’ comp calculations are fairly straightforward if you have the right information to plug into the formula. Doing this can give you a decent idea of what your premium should be so that you can include it when budgeting for new hires. How Workers’ Comp…
Best Commercial Truck Insurance Companies for Business
Business owners might assume that commercial truck insurance is only for the semitrucks used by owner-operators and motor carriers. However, all sorts of other businesses may have delivery vans and pickups that also need coverage. To help you find coverage, we evaluated more than 20 commercial truck companies to come up with our top six….
How Much Does Workers’ Compensation Insurance Cost?
Workers’ compensation insurance costs depend on many factors, such as state regulations, payroll, and industry, so it’s difficult to pinpoint an exact premium without considering all of your business’ characteristics. Employers pay an average of $936 per employee in annual for workers’ compensation, according to the United States Bureau of Labor Statistics. Those in less…
What Is Pay-As-You-Go Workers’ Comp Insurance?
Pay-as-you-go workers’ compensation is an insurance payment plan that bases your premium on your actual payroll. This is different from traditional plans that use projections to determine your costs and can result in an extra bill at the end of the policy. Choosing pay-as-you-go workers’ comp minimizes this risk and allows you to spread premium…
Wyoming Workers’ Compensation Insurance
Wyoming workers’ compensation is governed by the Department of Workforce Services, Division of Workers’ Compensation. The state requires almost every employer to provide coverage for their employees, with only a few occupations specifically excluded from coverage. Employers can only purchase workers’ comp insurance from the state, and they pay approximately $1.70 per $100 of payroll….
How to Prepare for Workers’ Comp Audits in 4 Steps [+Checklist]
Insurers that issue workers’ compensation insurance audit policies when they expire. They do this because initial premiums are usually based on an estimate of the policyholder’s payroll, and they need the actual payroll to charge the right amount. As a result, workers’ comp audits can be stressful for business owners because they may end up…
10 Best Small Business Insurance Companies 2020
The best small business insurance companies offer core policie like general liability, plus a broad range of additional coverages that most small business owners need. We reviewed dozens of providers to find the top 10 based on key criteria like coverage types, customer service, and pricing. Top Small Business Insurance Companies Which Insurance Carrier Is…
Photography Insurance: Cost, Coverage & Providers
Professional photographers and videographers need photography insurance to protect their assets from the cost of lawsuits and property damage. Typically, that means having general liability, professional liability, and equipment coverage. Insurance for photographers may cost $250 to $1,800 per year depending largely on the coverage you choose, but also your clientele, venues, and equipment. Getting…
Church Insurance: Cost, Coverage & Top Companies
Like a business, churches need to protect their assets, but getting coverage isn’t as simple as asking an agent for church insurance. Instead, you need several policies, each designed for a specific risk. For instance, most churches need general liability in case a congregant suffers an injury. This policy typically costs between $500 to $1,500…
Workers’ Compensation Costs By State
The United States Bureau of Labor Statistics says the average employer pays 45 cents per hour worked for workers’ compensation. However, the coverage is regulated differently across the US, and that causes variations in workers’ compensation insurance costs by state. Rates can be as low as 7 cents per $100 of payroll or exceed $80…
What Is a Workers’ Compensation State Fund?
Workers’ compensation state funds are organizations created by state legislatures that provide employers with workers’ compensation insurance. When state governments made workers’ comp mandatory, they had to make sure employers could purchase policies. For 21 states, workers’ compensation state funds are the answer to ensuring all employers have the required coverage. Types of State Funds…