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Insurance Quote Business

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Insurance Quote Business

small business insurance quotes, Insurance Quote Business

Commercial insurance, sometimes referred to as business insurance, can shield your company from unforeseen costs associated with workers’ compensation, property damage, and other risks. Having the appropriate insurance policy can make all the difference when you truly need it, whether you are just starting and looking for small business insurance or you are simply searching for better rates or coverage. Invest in the business insurance coverage that best suits your needs to help shield your company from financial risk.

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What Are The Cost Of Small Business Insurance

The average monthly cost of a business owner’s policy for small business insurance is $57, however, the exact amount you pay will depend on the specific business insurance you choose to purchase. Here is a breakdown of the costs for some typical insurance policies that small business owners would find useful.

Type Of Policy                                  Average Monthly Cost          Average Annual Cost

General liability insurance………………………..$42………………………………………..$504

Product liability insurance……………………….$42…………………………………………$504

Commercial property insurance……………….$67 (median)……………………………$804 (median)

Business owners policy……………………………$57…………………………………………$684

Business interruption insurance………………$40………………………………………….$480

Inland marine insurance…………………………$29 (median)……………………………$350 (median)

Cyber liability insurance…………………………$145…………………………………………$1,740

Commercial umbrella insurance……………..$75…………………………………………..$900

Workers compensation………………………….$45…………………………………………..$542

Commercial auto insurance…………………..$147………………………………………….$1,762

READ ALSO; Types Of Business Insurance Policies

For practically every kind of business, insurance firms provide a variety of business insurance plans, such as cyber liability, commercial vehicle insurance, and liability coverage. See more about the business insurance that’s best for you by scrolling through the information below!

Business Owners Policy (BOP)

One policy that combines two essential coverages. Discover why companies rely on insurance to assist them with their business insurance requirements by receiving coverage for:

  • Bodily injury or property damage
  • Defence costs for covered liability losses
  • Business furniture and equipment

General Liability Insurance/CGL

CGL can assist in protecting your company while it does regular business. Included in the coverage are:

  • Physical injury liability
  • Property damage liability
  • Lawsuit costs for covered losses

Professional Liability Insurance

You require professional liability insurance (PL), also known as errors and omissions (E&O) insurance, if you work as a personal trainer or an IT consultant. You are covered by this coverage for:

  • Mistakes or advice your company makes in business
  • Legal defense costs
  • Services completed

Workers’ Compensation

If your company employs people, then you must have this coverage. If a worker is hurt at work, workers’ compensation pays for their medical care. Policies typically cover:

  • Lost wages
  • Medical expenses
  • Rehabilitation expenses

Medical Malpractice Insurance

For people and groups working as physician assistants, nurse practitioners, CRNAs (certified registered nurses), optometrists, physical therapists, yoga instructors, personal trainers, nursing students, and other medical professionals, this is a fast, simple, and thorough covering. Included are:

  • Protection against claims of negligence
  • Defence counsel costs
  • Professional reputation coverage

Commercial Auto Insurance

You require a commercial policy if the driver of a car uses it for labour, business, or employment. Commercial coverage might be necessary if:

  • The vehicle is used to transport goods or people
  • The vehicle is used to perform a service
  • Employees drive the vehicle

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