Gross Sales - The more revenue you have, the higher your premium can be.Experience - A business with more experience can often get lower premiums that newer businesses with less experience.Employees - The more people working for your company typically translates into higher insurance costs.If you raise your deductibles (out-of-pocket costs), your premium will usually decrease. Deductibles - Like medical insurance, lower deductibles for small business insurance mean higher premiums.If you have claims on your policy, your premium will typically increase. Claims History - Similar to auto insurance, more claims can mean higher costs.What Does Workers Compensation Insurance Cover?įollowing is a list of the main factors that determine the costs of small business insurance:.What Does Professional Liability Insurance Cover?.What Does Equipment Breakdown Insurance Cover?.What Does Employment Practices Liability Insurance Cover?.What Does Directors And Officers Liability Insurance Cover?.
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