What is the price range for small business insurance packages?
I have a question for my personal finance class that asks:
Search the internet and name your sources for a small business insurance package. Identify basic areas of risk that they cover. How much would such a package cost?
I've found the basic areas of risk covered, however i can't find price ranges anywhere and all the offices are closed when i call, except for one that said they can't do it over the phone…
Well, they can't do it over the phone because there are way, way too many variables.
A safe range to use, is $500 to $150,000. Yep, 95% of small business insurance packages will fall in that range.
It depends on what they do, what they need covered, where they are located, and of course, the rating basis.
Sorry, I don't think this is much help.
Well, they can't do it over the phone because there are way, way too many variables.
A safe range to use, is $500 to $150,000. Yep, 95% of small business insurance packages will fall in that range.
It depends on what they do, what they need covered, where they are located, and of course, the rating basis.
Sorry, I don't think this is much help.
References :
agent, 21+ years
Maybe your teacher is asking a trick question. You haven't identified what kind of business it is that you need to price. So, go through all the elements identifying the basic areas of risk covered, then write that you can not do pricing because it is underwritten based on all the variables of that particular business. That is the truth.
References :
retired agent
I'm taking the same course, personal finance on econcordia. I just quoted that the company I work for pays 3500 a month and that quotes are in large part unavailable online and that small businesses can vary much in size and insurance costs.
All State and state farm both offer small business insurance.
References :