0
Business Liability insurance is not very costly, but new clothing companies should be aware of a few factors that impact cost. In general, liability insurance with limits of $1,000,000 per occurrence, sufficient to meet the requirements of many buyers (stores, mega stores, wholesalers, boutiques, etc.) should cost $750 to $1,000 per million of gross sales. If you are a start up, with zero gross sales, expect to pay at least $600 to $850 for a start up policy no matter how much you gross. If you are a start up, interested in making and selling infantwear, childrenswear, or sleepwear of any kind, you need to be aware of the U.S. Consumer Products Safety Commissions requirements for apparel, and flammability testing requirements. And be aware that insurance carriers are very wary of this class of apparel in general and expect to pay $5000 minimum annual premium. I am an insurance agent in the Los Angeles area specializing in apparelinsurance and you can find me through Google.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What is an "errors and omissions" insurance?
"Errors and omissions insurance is business liability insurance for professionals such as insurance agents, real estate agents and brokers, architects, third party administrators and other business professionals. This type of insurance helps to protect a professional, an individual or a company, from bearing the full cost of defense for lawsuits relating to an error or omission in providing covered Professional Services.
Do you need professional liability insurance for your small business?
It just depends on the type of business you are engaged in You should have professional liability insurance if you give professional advice or services. Professional Liability provides individuals and companies protection from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit.
What is the cost for general liability insurance for a sewer and drain cleaning business?
You need to contact an agent to get an answer to this, there are so many different coverages, limits etc.
Will an insurance company pay out a dwelling claim if you decide not to rebuild?
Yes, but generally at Actual cash value (either market value or replacement cost minus depreciation) instead of replacement cost. However, the insurance company will generally pay to reconstruct at another location.
Do you need liability insurance for a cleaning service?
Commercial Liability Insurance It may not be required by law, but it could be a good idea to carry some liability coverage, a minimum of $100,000 in case of an accident, injury or property damage to another party (usually your client) resulting from your operations or completed work. It will most likely be a contractual requirement of any sophisticated or government clients. The cost differential between $100K & $1M of coverage will be minimal - strongly consider the higher limit.
How much will liability insurance cost for a canoe rental company?
kayaking
How much does collision liability cost?
It depends on your record and who your insurance company is.
What is the average cost of liability insurance for a bail bondsman?
About $750/$250,000 with a leading insurance company
What is the average cost for 1000000 liability insurance for a small cleaning company?
58703
What is uncontrollable cost?
Uncontrollable cost is that cost which is not in descretion of management to be controlled. A good example of an uncontrollable cost is insurance. A manager who runs a department on the factory floor does not have control over the liability insurance that the company buys.
What are some reasons that a business should get commercial liability insurance?
A business should get commercial liability insurance because it protect the company from litigation costs. Litigation cost can drain a company cash reserves in a heartbeat of cause bankruptcy.
How much is liability insurance?
The cost of liability insurance can differ, and depend upon a number of factors. It is more expensive for people who are younger and have not had their license a long time, and could also depend on which company you have.
What is the average cost for COMMERCial liability insurance for a company?
The rate is based on the type of business you have and the gross receipts or payroll.
How much does one million dollar liability insurance cost for a pest control company?
1 billion dollars
What is the average cost for general liability and automobile liability insurance for a mass transit company?
There are too many variables, you will need to contact an agent or agents and get quotes.
What is the average cost for liability on a car insurance?
what is average amount of liability insurance for cars in new york
What is cost of Hire for auto insurance?
This is the cost a company spends in a year on vehicle rental expenses. It is used to rate for hired Auto liability coverage.
