Question by Darksuns: Would you suggest getting small business insurance for a mobile business?
My husband and I recently started a mobile buisiness. We have no “location.” The business is run and the service is provided on location at the customer’s request. We have set our business up as a sole proprietorship. Do you suggest insurance? If so, what kind?

Best answer:

Answer by cridler
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.

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Question by trideltaxoxo: What is a good estimate for small business insurance?
I am working a project for my MBA class. I am organizing a small business for the project. It’s a cooperative of specialty poultry producers. The cooperative markets the poultry to local major retailers and transports end products (after processing, packaging and storage to retailer DC’s). I need a quote for general liability insurance and insurance on a small refrigerated truck (driven by someone with a pristine record). I need annual premium estimates that coincide with an exact policy amount – the least possible please! Online insurance quoters are not working.

Best answer:

Answer by mbrcatz
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.

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Question by Marlene Zuckerman: Is there an insurance broker in the Orange County area that knows both personal and business insurance?
I own a small business (sandwich shop) and my broker is good with business insurance but I think my rate is too high. I like AAA but they don’t do business. I need something a little simpler, like one call. I am looking for someone who knows both areas pretty well and can help me save some money. Thanks!

Best answer:

Answer by mbrcatz
Sure there are! Lots of independent agents can write both. You probably need to call a few, by typing in your zip code to www.iiaba.net at the agent locator tab.

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Question by -R-: How much would Geospatial Business Insurance cost per month in Pennsylvania?
Me and a few of my friends want to try to start a small geospatial business in Pennsylvania, and I was wondering how much business insurance for that would cost? Like roughly how much per month? And where could I find more information about business insurance for a geospatial company?

Best answer:

Answer by mbrcatz17
There’s no “geospacial business” package, so each line will have to be underwritten seperately. Frankly, it sounds to me like you want to build a space station or something, so what you NEED is going to depend on 1. contracts and 2. exactly what you’re doing.

And you can’t get monthly payments on insurance, for a new venture – you’ll have to either pay in full for the year, or finance the premium through a premium finance company.

In other words, your question is too vague to answer.

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Question by Shawn778: How much would insurance for running a business cost?
I was writing out a business plan for a carpet cleaning business and I’m trying to understand how much an insurance expense would cost. I don’t have any idea. Could anyone give me an idea, and is there a way to roughly figure out what a businesses insurance expenses would cost for anything like a computer recycling company or running a bar? Any help would be greatly appreciated.

Best answer:

Answer by smooch
Contact a broker, they can give you the info.

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