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Miriam Said:

Any suggestions regarding Small Business Insurance?

We Answered:

You indeed need that coverage. If you were to experience a flood, or fire, or any other disaster that wiped out your inventory, your homeowners insurance will not cover it. Yes it may seem redundant, but you need it to cover your household items and your business equipment and inventory. Although everything is located in your home, they are separate, and should be insured separately.

Actually, that is a pretty good price for a policy.

Monica Said:

Do you really hate that idiotic man with the false twirly thing who wants us to compare insurance prices?

We Answered:

nope he annoys me so does the comparethemarket one

Harry Said:

Insurance should make up what % of expenses for a business?

We Answered:

It depends on the business. Liability and labor based businesses - like construction, that need bonds, have a higher percentage of insurance cost.

Service based businesses that don't own much property, have ridiculously low percentage of insurance costs.

Warren Said:

Health Insurance - Private vs Group Policy for small home-based business?

We Answered:

Most companies will offer group coverage for 2 employees. It is worth looking into but don't expect that a group plan will be any less expensive. Depending on your state regulations groups are mandated to cover certain procedures, such as mental health, that you may not want or need, which will increase the premium. Contact a local agent that can do quotes for both group and individual from a number of companies.

Group policies of fewer than 10 employees are individually underwritten and the premium is based on those results, just like with individual policies. Companies can decline to offer group policies based on those results as well. Group policies choices are limited compared to what is available with individual policies. You will not be more likely to secure better coverage because of those limitations.

You can deduct the premiums of either type on your taxes.

Scott Said:

Where can I find info & ratings on major Canadian insurance companies' ethical business practices?

We Answered:

www.clhia.com - info on CDN insurance carriers and consumer friendly guides.

As for ratings, sites like www.standardandpoors.com or www.ambest.com list the ratings, but you usually need to be a paying member.

However, if you go to the website of the insurance company, they usually have a link showing their current ratings (eg: http://www.manulife.ca/aaa or http://www.aiglife.ca/english/credit.asp…