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Compare Cheap Insurance Plans for Small Businesses

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Buying Business Insurance Coverage Online

Finding affordable and solid business insurance plan helps you feel confident about the future of your business and stay within your budget. All businesses have their own unique needs. Whatever you are looking for - general liability, workers compensation, business owner policy, commercial vehicle or other types of business insurance plans, here you can get quotes from leading companies in insurance business and choose the best rate for you.

Choosing business insurance policy online enables you to get multiple quotes from a number of insurance companies. State governments regulate the insurance industry; therefore rates vary from state to state and also among different companies, depending on several factors. So make sure to compare quotes from several companies to determine which one is the best for you. Start your business insurance quotes now! It is fast, convenient and free!

Choosing a Cheap Insurance Plan for Your Business

To choose best business owners insurance policy that matches your business needs you have to know your risks first, they will largely depend on your business type and also on its location, building, local fire protection services, etc. Evaluate your risks and make sure you've covered every aspect of your business. Determine the amount of deductible you are comfortable paying. And the coverage limit you need.

Costs of policies vary from company to company, so it is important to get quotes from several companies to choose the cheaper plan. Consider buying a package deal rather than purchase coverages separately. Many small businesses if they are eligible purchase Business Owners' Policy (BOP) that includes property insurance, business interruption and liability coverage. They do not include however professional liability, vehicle insurance, workers' compensation, health or disability insurance.

Later on you can reduce your premium by following your company's recommendations regarding workplace safety, human resource intervention, disaster preparation, etc.

Types of Business Insurance Coverages

You can buy insurance plan for any possible risk your business might face. Price and coverage limits vary among insurance companies. Assess specific risks of your business and then choose types of coverage you should consider buying.

General Liability Insurance covers legal responsibility of your company for property damage or bodily injury it may cause to others as a result of things that you or your employees do or fail to do (due to defective products, errors in services provided, etc.).

Product Liability Insurance covers companies that manufacture, distribute and retail products in case a defect product causes injury or bodily injury.

Professional Liability Insurance (errors and omissions insurance, malpractice insurance) protects businesses providing services against negligence, errors and malpractice. Some professions may be required by the state to buy professional liability insurance policy.

Commercial Property Insurance protects your business against any loss and damage of company property. Property includes buildings and contents, lost income, business interruption, computers, company papers and money. There are two types of commercial property insurance policies - all-risk and peril-specific.

Commercial Auto Insurance covers against damage or liability claims involving a business vehicle.

Home-Based Business Insurance. If you run a home-based business, you may add riders to your homeowners insurance, but you may need to buy additional coverages separately - like general and professional liability.

Insurance Requirements for Small Businesses with Employees

State law requires that businesses with employees carry the following types of business insurance coverage: workers' compensation insurance, unemployment insurance, and, in some states, disability insurance.

Businesses owners are required by the law to buy Workers' Compensation Insurance coverage to protect their employees. Workers' comp insurance policy can be purchased on a self-insured basis through a private insurer, or through the state program.

Under certain conditions businesses with employees are required to pay unemployment insurance taxes.

Disability Insurance provides partial wage replacement to employees in cases of non-work related injuries and sicknesses. It is currently a required type of business insurance coverage in California, Hawaii, New Jersey, New York, Puerto Rico and Rhode Island.

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