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Phyllis Said:

Small Business Insurance Question Michigan?

We Answered:

You need a general commercial liability policy (GCL) Check with local agents in your area.
They will want to see:
how long the business has been established/ yrs of experience.
Your annual payroll
3 most recent jobs

Lonnie Said:

Whats the best avenue in obtaining Small business Liability Insurance?

We Answered:

Use this site to find an independent agent in your area. An independent agent represents more than one company so they have a better chance of having a company that will be able to write the insurance he needs.

http://www.iiaba.net/agentlocator/findag…

Anna Said:

Help on assignment: small business insurance for workers?

We Answered:

listen DJ Gregory, he's the best

Dwayne Said:

What is a good estimate for small business insurance?

We Answered:

Nope, you can't buy that type of insurance online.

And you missed a whole bunch of very crucial information and coverages.

"Small" is in the eye of the beholder. You need GL with product liability, workers compensation, cargo coverage (for your stock), and that commercial auto policy - which will vary wildly, depending on the exact coverages and how far you drive.

SO. The GL is going to be rated on gross sales. You can figure, with a food product and retail marketing, you'll be required to carry at least $1,000,000 GL, but you'll ALSO be required to carry at least $2,000,000 excess liability. You PROBABLY want recall coverage, but hey.

Assuming gross sales is around $500,000 a year (very, very low), your GL is probably going to run you around $7500, and the excess/umbrella about $6,000. The workers comp is going to run you another $5K at least - maybe more. The truck coverage, assuming no coverage for the truck, commercial class code, under 250 mile radius, liability only (again, you'll need the $1,000,000 to go on premises to deliver) is probably going to run you around $4K. Stock coverage, is probably going to run you around $2500 for not more than $25,000 of chicken at one time.

Want refrigeration breakdown/spoilage coverage? That will cost more.

Sally Said:

how can i claim from my small business insurance or life insurance? i recently had an incident outside?

We Answered:

As several posters explained neither the small business insurance nor the life insurance can assist you with a personal disability and/or injury claim. However, you still might want to check since there is a new life policy that includes coverage for disability and/or you might at least have the provision that allows you to forgo paying your premium while on disability. Another thought is that if you have a cash value life insurance policy, i.e. a Universal Life or Whole Life, the policy might have enough money in "savings" to give you a loan which will help your current cash flow situation. You should contact your agent to discuss these options.

In addition double check if you have any other short term disability coverage--the type that pays some of their specific bills, i.e. some people purchase this on their car loans, on credit cards, through their bank or even if they are members of certain trade associations.

The other options are checking to see if your city, state or county has a crime victims compensation fund--some of these funds help with medical bills, medicines, equipment and lost wages. While the amount is not usually large any little bit will help.

And consider getting a free consultation from an attorney to review your options vis a vis suing the perpetrator--this would be a real long shot in my opinion since he is probably broke but who knows. He might have just been released from a state mental health clinic and maybe you can go after the state for releasing this threat onto the public? or some other third party liability!

I am sorry that this happened to you. However, do look at the bright side you survived! And you will get over this and be stronger and more compassionate it for it.

Good Luck!

Ann Said:

Would you suggest getting small business insurance for a mobile business?

We Answered:

Yes, definitely. First, if you are using you personal vehicles to get to the customers location your auto insurance company can avoid paying a claim if on a business trip. Second, liability for any error or damage you cause while doing your work. As a sole proprietor you are liable for any damage or claim and your homeowners or auto will not pay. See your insurance agent and discuss coverage needed, it probably will not be that expensive. I have a small farm business and pay very little extra for business coverage.

Dianne Said:

How much does small business insurance cost on average yearly ?

We Answered:

Depends on the state and location of the business. In California a small business policy can vary depending on the business use. I'd guess that the policy would be roughly $2200 for coverage of the business property and a million dollars liability.