An insurance for a small business typically involves covering liability, property and health. Various types of small businesses can buy a package of small business which will cover many of your insurance needs. The saguaros be customized to include additional coverage options that may affect the price of the policy. The average cost of a policy can vary, depending on the coverage that the company requires.
Property insurance
Property insurance provide protection against various types of business losses, including fire, theft and vandalism. Even they offer business interruption insurance, which help cover the costs if the business should close temporarily. The cost of a property insurance policy depends on various factors such as type of business, location and the coverage selected.
Liability insurance
Liability insurance offer protection in case of injury of customers or visitors to your small business. The cost of this type of policy is typically based on sales and payroll estimates. For example, a business could pay US $ 2 to US $ 4 of liability insurance for each US $ 1,000 of sales. Insurance companies use other factors to determine the policy prices, including previous incidents and type of business.
Health insurance
Small businesses usually offer health care coverage for their employees. The cost of such insurance varies, depending on the plan selected and other factors. Small businesses can choose from a variety of insurance plans. A new type of coverage for small groups, called Health First, will soon be available in New Hampered. The insurance plan focused on welfare will cost small businesses between US $ 4,000 and US $ 6,000 per month, representing savings of US $ 1,000 or US $ 1,000 per month compared with similar plans.
Deductibles
The small business that buys insurance policies can choose from several deductible. The deductible is the amount you will pay the insured before the company cover its part to make a claim. The cost of the policy premium can vary widely, depending on the selected deductible amount. Deductibles in a policy of small business vary between US $ 250 and US $ 1,500 or more. Higher deductibles reduce the premium cost. But also increases the amount of money you have to pay claims.
Premiums
The premium charged by an insurance policy for small business can vary significantly in each insured. Calls budgets several insurance policies, making sure the coverage’s offered are comparable, before making a decision. The insurers use many factors when determining how much to charge you, including the location of the building, its commercial use, the age of the building, as well as any applicable discounts. A small business owner might pay between US $ 2,000 and US $ 5,000 annually for their insurance coverage.