Cyber insurance is a specialized liability policy designed to protect businesses from damages and losses that occur as a result of cyberattacks and electronic data breaches. Cyber insurance companies typically cover costs like data restoration, legal fees, consumer credit monitoring, ransom payments, and regulatory fines. We reviewed more than 25 of the top cyber insurance…
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10 Most Common Workplace Injuries & How to Avoid Them
If you’re concerned about worker safety and minimizing workers’ compensation insurance costs, it’s important to avoid the most common workplace injuries. Any injury that is the result of an employee’s job can turn into a workers’ comp claim. The more claims you have, the more likely your insurer is to raise your premium. It is…
How Much Does General Liability Insurance Cost
General liability insurance costs range from $400 to $1,300 depending on the industry you work in and how big your company is. It pays for third-party injuries or property damage claims that could become financially devastating to an uninsured company. Defending liability claims average $75,000, making one claim’s value worth the premium. What General Liability…
Professional Liability Insurance for Counselors
Professional liability insurance for counselors is a business policy designed to cover malpractice claims brought against mental health therapists such as psychologists, occupational therapists, and social workers. Policies pay for your legal defense, including civil awards, if you’re accused of professional negligence. Counseling liability insurance usually costs $400 – $3,000 per year. One way counselors…
How Much Does Professional Liability Insurance Cost?
Professional liability is a type of business insurance for anyone who makes a living providing expert services or advice. These individuals face higher risk of negligence lawsuits, and professional liability covers their defense by paying for lawyers, investigators, and court awards or settlements. Most small business owners pay $500 – $3,500 annually for this coverage….
Insurance Deductible: Definition & How They Work
An insurance deductible how much the policyholder pays before the insurance company starts to pay for a claim. When buying insurance, consider what you pay for premiums and what you will be responsible for in deductible during a claim. Increasing deductibles help keep insurance premiums down and allow you to afford more overall coverage. Determining…
Business Insurance: The Ultimate Guide for Small Businesses
Business insurance is a form of protection small business owners can buy to safeguard their personal or business assets. Getting the appropriate coverage for your operations protects your assets by covering customer lawsuits, property damage, and other perils so that the costs that follow a disaster don’t put you out of business. What Business Insurance…
Cannabis Insurance: Cost, Coverage & Providers
Cannabis insurance refers to a group of business policies that cover risks inherent in the marijuana industry. However, different operations require different kinds of marijuana insurance policies. Most cannabis businesses, including dispensaries, cultivators, and testing labs, need at least general liability insurance, which they can usually get for $700 – $3,000 annually. makes it easier…
Best Commercial Truck Insurance for Business
Business owners might assume that commercial truck insurance is only for the semi-trucks 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 find coverage, we evaluated more than 20 commercial truck companies to come up with our top six. Top…
6 Best Professional Liability Insurance Providers
Professional liability insurance protects service providers from claims stating that work wasn’t done to professional standards and resulted in a financial loss or bodily injury. Professional liability insurance should be purchased specifically to cover industry-related risks. We reviewed more than 25 of the top liability insurance providers and narrowed it down to our six best….
General Liability vs Professional Liability Insurance: Which Is Right for You
The main difference between general liability vs professional liability insurance is the risks they cover. General liability insurance pays claims regarding property damage, physical harm, and advertising injury brought by third parties. Alternatively, professional liability, sometimes called errors & omissions, pays claims of financial loss caused by negligence, errors, and omissions when providing professional services….
Oil and Gas Insurance: Cost, Coverage & Providers
Oil and gas insurance is a series of policies designed to protect companies involved in the production and distribution of oil and natural gas. The oil and gas industry poses both significant safety and environmental concerns that different insurance policies address. Even small oil and gas companies can expect to pay thousands in premiums annually….