The person injured in an auto accident may be a young child, a wage earner, a surgeon, or a homeless person. While not an exhaustive list, to properly protect your business against lawsuits - consider these additional policies that fall under commercial property and/or casualty insurance: Small business insurance needs, costs and coverages are different for each industry and region. South Carolina Small Business Insurance.North Dakota York Small Business Insurance.North Carolina Small Business Insurance.Small Business Insurance Information By StateĬlick on the links below to read state specific small business insurance information, including information on types, coverages, policies, limits and more: For example, a general liability policy with a $1,000,000 limit per claim will cost more than one with a $300,000 limit. Policy Limits - When you buy a policy, you can decide how much coverage you want, and you typically will pay more for higher limits.For example, if your business is located in Calistoga, your business insurance costs may be lower than a similar business located in Los Angeles or San Francisco. Location - Your zip code can have a significant impact on your premium.Industry - If you own a white collar business like an accountant, your premiums can be lower than a roofing company, where the potential risks for bodily injury and property damage are higher.So if your small business earns less than $30,000 annually, your premiums may be lower than a larger corporation that earns more than $2,000,000. Gross Sales - The more revenue you have, the higher your premium can be.Experience - A business with more experience can often get lower premiums that newer businesses with less experience.Employees - The more people working for your company typically translates into higher insurance costs.If you raise your deductibles (out-of-pocket costs), your premium will usually decrease. Deductibles - Like medical insurance, lower deductibles for small business insurance mean higher premiums.If you have claims on your policy, your premium will typically increase. Claims History - Similar to auto insurance, more claims can mean higher costs.What Does Workers Compensation Insurance Cover?įollowing is a list of the main factors that determine the costs of small business insurance:.What Does Professional Liability Insurance Cover?.What Does Equipment Breakdown Insurance Cover?.What Does Employment Practices Liability Insurance Cover?.What Does Directors And Officers Liability Insurance Cover?.What Does Cyber Liability Insurance Cover?.What Does Commercial Umbrella Insurance Cover?.What Does Commercial Property Insurance Cover?.
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