Premises liability coverage is an insurance policy that pays claims for accidents involving guests that take place on your business property. By law in all states, an owner of property must make reasonable efforts to make sure that those visiting the property are entering a safe environment. To understand why premises liability coverage might be…
Policies can cover business-owned property and liability risks that come with caring for children. Depending on the coverage, annual costs of daycare insurance range from $450 to $1,350 for in-home childcare businesses and from $1,000 to $3,500 for commercial daycare centers. To get your daycare insured quickly and properly, try an online broker like ….
Small business owners want to work with general liability insurance companies that are reliable and can offer quality coverage at an affordable rate. We compared more than 20 carriers on criteria, such as costs, policy options, and online availability, to come up with the nine best general liability insurance companies. *Liberty Mutual quote provided by…
When used in the right manner, liability waivers can help protect your business from lawsuits. Of course, you can still be sued, but the liability waiver serves as part of your defense that the plaintiff waived their rights to a claim. However, there are cases where the liability waiver is unenforceable. What Is a Business…
General liability insurance class codes are a way for insurance carriers to classify risk based on the work a company does. Every business has differing types and degrees of risk. The class codes help insurance carriers assign an appropriate premium rate, offer the correct type of coverage, and determine any exclusions, if necessary. How General…
A certificate of insurance (COI), sometimes called a certificate of liability insurance, is a one-page document that summarizes your coverage and can be used as proof of insurance. The form includes policy details, such as coverage limits and effective dates, so business owners can find and share them easily without revealing other, more private information….
A surety bond is a type of financial coverage that is designed to guarantee the performance of contractual obligations by the contractor who purchases it. A bond is generally required by the owners of the project for the primary contractors to purchase but can also be required by general contractors for subcontractors to purchase. Surety…
A general liability audit is when your insurance agency reviews your risk exposure based on payroll, gross sales, and employees’ job duties. It’s a way to make sure that you have the proper amount of coverage and are paying the correct amount for general liability insurance. Why Insurers Audit General Liability Policies General liability policies…
