NLIC.org

Casey Said:

How much does small business insurance typically cost in WA state?

We Answered:

you should really find out from your city clerk about all the details. But I know that if the IRS visit their business location right now it's not going to be pretty.. BEFORE they even start the business they had to get insurance. Usually you just pay a $2500 bond or less depending on your credit but you should definitely check. Good luck!

Jesus Said:

what are the advantages of cobra insurance versus individual or small business health insurance?

We Answered:

Well, COBRA will most likely cover maternity. Individual plans won't.

And, individual and small business plans are individually underwritten, so the company can say, "oh, you have XYZ wrong with you, we'll take you, but we won't cover anything related to XYZ". Or worse, "sorry, we won't insure people with XYZ". Cobra won't do that.

Cody Said:

Small business insurance- Do I need it?

We Answered:

OK, I'm going to take these questions out of order. You only "need" insurance, if you have something happen, and want the insurance company to pay for it. Examples would be a lawsuit, or a fire where your computer would burn up. NO, business stuff is NOT covered under your homeowners policy, except for a very limited amount - like maybe $250.

The only coverage required by law, is workers comp, and only if you have employees.

Will you need it for your business? Most likely, yes. Most of your "clients" aren't going to let you step on their premises, unless you have at least general liability - many will require workers comp for you, and at least nonowned and hired auto liability, and maybe professional liability and umbrella or excess liability.

Randy Said:

Approx. how much for small business insurance, yearly?

We Answered:

You're asking about a WHOLE BUNCH of different coverages here.

General liability, if your gross sales are under $50,000 a year, AND you don't plow in the winter, will cost you around $2,000.

Workers comp, 20% of payroll - and if you hire occasional help, you ARE required to carry workers comp for them. Workers comp for your type of business STARTS at $2500.

Equipment coverage STARTS at $1,000, that would probably get you $25,000 of coverage for all your (non road use) equipment - no theft coverage.

For the truck & trailer, you really WILL need to talk to an agent, because your age and driving record, not to mention how far you go, or where you're based, will have a HUGE factor in it - in addition to which cvoerages you need.