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I Need To Find The Cheapest Tempory Business Liability Insurance.? |
Question by Aaron V | Posted in Insurance
I am planning on doind a small job for an apartment complex with myself and a couple friends. Since we will be using a small amount of scaffolding, we are required by the apartment complex to have business insurance. I was wondering about how much this would cost for about 3 people and about 2 weeks or less. Thanks in advance.
Answer: You're going to pay the same for a "one shot" as you will for an annual policy. The scaffolding will put you in a surplus market carrier, and the "minimum premium" will be the full year, payable in full. When you cancel the policy, you won't get any of it back.
Expect, if you're doing an outside job, that this policy will cost you $1500 to $2500. Nonrefundable, but still auditable, so if you do MORE work, they can charge more if you're payrolls are higher than you originally reported. |
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How Do I Get Business Liability Insurance For A Start Up Business? |
Question by frosted | Posted in Insurance
I'm starting a cosmetic's company and the manufacturing company I'm hoping to work with requires business liability insurance. I have no previous payout or income from the my start-up company as of yet. What would be the best way to go about getting this insurance, seeing as most companies require the company to be already off the ground with revenue and mine is in the developing stages?
Thanks in advance
Answer: You need to contact an agent that specializes in placing commercial insurance. You might want to start with the agent that writes your other insurance (auto & home) but don't be surprised if they don't have a market for this type of risk. Very few insurers are going to be interested in underwriting this type of risk.
If your agent is unable to assist you ask him/her for a referral to an agent that deals with specialty line carriers. The bad news is that the minimum premiums for general liability and products liability for a cosmetics company could easily exceed $10,000.
No shortcuts here, you have to contact an agent that deals with surplus lines carriers. |
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What Kind Of Costs Would I Be Looking At For A Yearly Small Business Insurance Liability Policy? |
Question by adkjlsf a | Posted in Insurance
Can anyone give me a round about idea of the yearly cost for a bond/general liability policy for a small cleaning business with only 1 employee in NY? Does $1-2 thousand sound about right?
Answer: General liability with one person cleaning, gross receipts under $75,000 is going to run around $1500 a year.
A "bond" is going to run around $250, but doesn't mean what you think it means, and basically you don't need it anyway. You'll have to guarantee the bond amount if it's a start up business, which means, post $5,000 or however much you want the bond to be for.
Bonds for janitorial services, people ask about them here about twice a week. No one really needs them, unless you're doing government work. |
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I Am Opening An Adult Day Care Business In My Home And Need Liability Insurance..? |
Question by m23sons | Posted in Insurance
We are opening an adult residential day care business in our home and cannot find business liability insurance to cover it. We are in Nevada and are licensed to care for 6 adults (seniors) during the day .... Does anybody have any ideas WHO we can contact??????? Thanks.
| Answer: Home insurance covers lots of different things. I'm not sure about Nevada laws and regulations, so I suggest you call a nearby homeowners insurance agent. http://www.usinsuranceadvisor.com/Home-I nsurance.html They will be able to help you. |
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Business Liability Insurance For My Employees? |
Question by Chris Michaels | Posted in Insurance
I am in the process of getting a business license.
I don't officially want to "hire" employees, but I think what I want to do is hire a free lancer, to go out and do some field work, when I am unable to.
But I want that person to represent my company, what if he/she breaks something?
I want my clients to be comfortable knowing my company is insured..
what do i do?
Answer: You need your own business liability. Any subcontractors you hire, who do NOT have their own general liability and workers compensation coverage, YOU are responsible for both their general liability, and workers comp benefits if they get injured - even if you call them "free lancers" or 'subcontractors" and don't withhold payroll taxes.
Many, many people try to get out of payroll taxes and workers comp, by doing the type of thing you're talking about. Some get away with it - some, it drives them into bankruptcy. You probably want to work very, very hard at looking at the legal differences between employees and sub contractors - here are a few links to start |
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