Heating, ventilation, and air conditioning (HVAC) insurance is a group of policies that business owners and HVAC technicians are often required to buy. The core policies needed are liability and workers’ compensation—and the combination of these have premiums that run from $10,000 to more than $20,000 per year. Some states also require a surety bond….
Insurance
Key Man Insurance: Cost, Coverage & Providers
Key man insurance, or key person insurance, is life insurance coverage a business takes out for an individual employee who is crucial to the financial success of the company. The business purchases the policy, pays the premiums, and is the beneficiary in the case of the death or disablement of the key person. A 20-year…
Workers’ Compensation Insurance: Cost, Coverage & How it Works
Every state except for Texas and South Dakota requires businesses to carry workers’ compensation insurance. Workers’ compensation insurance covers medical bills, rehabilitation costs, and lost wages for employees injured on the job or who experience a work-related illness. The price can vary depending on your business’s location, industry, and payroll. Typically, it costs $500 to…
What Is a General Liability Audit?
A general liability audit is when your insurance agency reviews your risk exposure based on payroll, gross sales, and employees’ job duties. It’s a way to make sure that you have the proper amount of coverage and are paying the correct amount for general liability insurance. Why Insurers Audit General Liability Policies General liability policies…