
How your business location affects insurance costs
When purchasing business insurance, one of the key factors that influence your premiums is your location. The business location impact on insurance can be…
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If there is some kind of accident at your business, or as a result of your business, you could face a lawsuit with litigation, medical bills, and property damage claims. This is why you need business insurance.
There are two categories of business insurance.
Business liability insurance covers you if someone blames your business for damages, injury, or loss.
Commercial property insurance covers repair and/or replacement of your business’ stolen or damaged property.
Yes! Business insurance is a cost of doing business and thus your premiums can be deducted.
Most states require businesses with employees to get workers’ compensation insurance.
Some states also require businesses to obtain insurance as part of the licensing process. Check your local laws to learn more.
Errors and Omissions insurance covers service and consultation businesses when they are sued over late, incomplete, or inaccurate work.
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