Commercial crime insurance is an insurance policy for losses to your business from criminal acts, such as employee dishonesty or third-party fraud. Commercial crime can be bundled with existing coverage or purchased as a standalone policy. Standalone crime insurance generally costs on average between $650 to $2,500 yearly. Small business ownership has an inherent crime…
Vacant home insurance covers unoccupied homes for an extended period, and it typically costs 50% to 60% more than your traditional home insurance policy averaging around $2,170 yearly. Empty home insurance costs more than traditional home insurance because unoccupied properties have a higher risk of exposure to weather damage, theft, and vandalism. We evaluated several…
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…
Employment practices liability insurance (EPLI) is insurance to protect a small business from liability arising out of its employment practices as it relates to its 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 standalone policy…
Vacation rental insurance protects your home from risks associated with renting it to others. The policy is similar to a homeowner’s, providing coverage for the structure, contents, and liability while also providing income loss. Vacation rental policies can range from $1,500 to $2,500 a year. For a quick quote, tailored for your specific property, consider…
Every state except for Texas and South Dakota requires businesses to carry workers’ compensation insurance. Workers’ compensation insurance covers medical bills, rehabilitation costs, and lost wages for employees injured on the job or who experience a work-related illness. The price can vary depending on your business’s location, industry, and payroll. Typically, it costs $500 to…
Swim instructor insurance is a policy providing liability coverage for someone who directly oversees the teaching and training of swimming. Swim instructor insurance costs as little as $150 per year with a $1 million general liability policy. Some insurers offer unique industry-specific policies that cover both general and professional liability. The term “sports instructor” covers…
A contractor controlled insurance program (CCIP) is a specific insurance policy purchased by general contractors to coordinate general liability for construction projects. Also called wrap-up insurance, CCIP insurance is controlled by contractors rather than project development owners. The cost for a CCIP starts at 1% of the construction costs with policy durations extending past construction…
