Whenever you budget the expenses of your business, YouTube Personality insurance must be high on the list because you can’t always know exactly what can happen in the future.
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With the protection provided by insurance against accidents and all the other kinds of insurance we will tell you about, you can protect your business and yourself in case something unwanted happens.
Like any business owner, for your YouTube Personality enterprise, you must consider how much financial liability you are taking on.
If your YouTube Personality business runs without proper insurance, you are taking an enormous chance not just of losing some money but of a complete wipe-out.
This is because the laws in every state are very strict in enforcing liability on the owners of businesses for the upshots of their actions.
In this article, we are giving very general guidelines for small businesses to highlight what the main kinds of insurance that you need are, and where possible, a rough guide to how much you can expect to pay.
The question is, can you afford to NOT have insurance for your YouTube Personality business?
What this means, for any YouTube Personality business owner, is that if some company claims that your business caused them some physical or economic damage, a court can award damages far beyond the total size of your business.
Your YouTube Personality business is not protected by laws in the same way as states are, where edicts can place a “cap” on the maximum level of liability.
In some states, like Montana, there are specific monetary levels that limit the amount a court can award in any case against the state.
In a court case, it’s purely the duty of the jury to award whatever amount they deem appropriate, even sometimes giving a claimant more than they have sort.
When you are running your YouTube Personality operations, you can’t deny responsibility for the outcomes of your actions.
Even more importantly, unless you have spent up-front the money necessary to have your business running as an LLC, all of that liability belongs to you as an individual.
What does YouTube Personality insurance protect you from?
For your YouTube Personality business, the most important sorts of insurance are meant to cover the risks to your business from accidents, from unexpected events, and from mistakes.
As well there are some legal kinds of insurance that various states require.
In the next few paragraphs, we will outline the most important points any YouTube Personality business owner should remember when negotiating the insurance needed.
The main categories of insurance for your YouTube Personality businesses are liability insurance, commercial insurance, asset insurance and workers compensation insurance.
Liability insurance
General liability for your YouTube Personality operations
Any YouTube Personality business is dealing directly with customers, and that means you generally have the danger that some accident can happen to them themselves or else something of theirs can be ruined.
In such a case, they can require compensation.
General liability insurance policy for your YouTube Personality business insures you against claims coming from injury to visitors or damage to their property.
It protects your YouTube Personality business from the claims themselves and also to any resulting court costs and legal fees of the lawsuits.
In many cases, it will even help you to qualify for extra business from city and state organizations, where contracts insist on proper liability insurance.
The normal level of general liability insurance for your YouTube Personality business would be with a cap of $1 million for a single submission and a total of $2 million for the whole year.
See the table in the costing section below for average prices of general liability insurance for your YouTube Personality insurance operations.
Professional liability insurance for your YouTube Personality business
In the event where a buyer alleges some negligence, errors, or omissions in how you conducted your YouTube Personality business for them, you can quickly have to fight a law suit.
Even if the lawsuit against you is decided in your favor, the cost of defense can be substantial, and the impact on your reputation can be damaging.
Every small YouTube Personality business should have enough professional liability insurance to cover a once-off claim of $25,000, with annual cover of $50,000.
See the table in the cost of YouTube Personality insurance section below for average prices of professional liability insurance for your YouTube Personality operations.
Product liability insurance for your YouTube Personality business
Whatever goods you sell or advice you give about the goods, you are running a risk that clients may claim that what you delivered didn’t meet your description of function, or that your advice was basically incorrect.
You need to know the specific laws of product liability in your own state.
For example, in California, all businesses in the supply chain can be held liable for damages caused by products claimed to be defective.
To cover yourself against any possible lawsuit, you need Product liability insurance for YouTube Personality
Only you can determine exactly how much insurance you need.
Best advice is to consult with experienced insurance agents, brokers or company representatives for help.
Commercial insurance
Commercial vehicle insurance for your YouTube Personality business
Be careful! – most policies for private vehicle insurance do not cover any event like theft or accidental damage when the car is being used for business purposes.
The right way to make sure that your vehicle is insured for both its own value, and the valuable contents, is by taking out a designated commercial vehicle insurance package.
Commercial car policies cover the value of any vehicle in case of accident, malicious damage, fire, or theft.
In addition, in case of any accident, the van itself, the content and any legal bills, medical expenses, and property damage is guaranteed if your car is involved in an accident.
Most states, other than Virginia and New Hampshire, insist on this type of insurance.
The required value of the insurance is calculated on the depreciated value of the vehicle, and your intended level of cover of contents.
Tools and Equipment insurance for your YouTube Personality business
Since your YouTube Personality business needs specific and costly equipment, you will realize how much it can cost to replace it in case of any damage, loss, or theft.
The gear may be subject to malicious damage, deliberate fire, theft, other such unforeseen acts.
In addition, acts of nature like lightning strikes, hurricanes, earthquakes, and other highly damaging natural events can destroy your whole business in one stroke.
Unless you can afford to immediately replace such specialized gear quickly out of your own pocket, you need full-level equipment insurance so that you can immediately buy whatever needed to keep your YouTube Personality business running.
It is difficult to advise how much equipment insurance you need – it’s really dependent on how much you have invested in your YouTube Personality business’ equipment.
Commercial Property insurance for your YouTube Personality operations
Any YouTube Personality business that owns or rents space in a building should have a commercial property insurance policy.
If you own the building, you certainly have a substantial capital investment, as well as a big liability if there’s a mortgage.
Any physical building location must carry insurance coverage for the value of the premises and contents against unexpected occurrences like fire and storms, and against man-made damages like theft and vandalism.
If your YouTube Personality business deals in areas of high risk, like Florida or Georgia, extra coverage may be needed for earthquakes and hurricanes or tornadoes.
In other states like Illinois, where unlimited cold snaps can cause damage to outer coverings of YouTube Personality business premises, there is a need for more additional cover than in warmer climes.
Although the level of cover depends completely on the value of the property, it’s not possible to say what cover your need, but we have been able in the table in the cost of YouTube Personality insurance section below to give some indication of the average prices per million dollars of property insurance for your YouTube Personality business.
Temporary insurance by month, week or day for your YouTube Personality business
Is your YouTube Personality business working part-time or casually, or is the level of business variable?
Using short-term insurance makes good sense. Business insurance by the month, day, or week – temporary insurance for YouTube Personality – are special policies where you can cover a specific period when you want to be covered.
By only paying for that period of cover, you will save by having reduced premiums but still having adequate risk cover.
The important feature of short-term insurance is that you pay for the cover for a defined period – a specific date, or a week or month starting on a specific date, for example for 30 days beginning on the specified date.
When you are expecting periods of higher business activity, get the existing cover improved.
Talk to your insurance agent, broker or the company’s representatives to see what options you have.
Business Owners Policy BOP for your YouTube Personality business
You have the chance to combine most of the important kinds of small business insurance in one policy that is known as the business owner’s policy – BOP.
A BOP integrates commercial property and public liability insurance by amalgamating these coverages into one insurance policy, which can save you money.
BOP insurance will shield you if any claims of injury or property damage are made.
It is often the right choice for small and medium-sized YouTube Personality businesses, such as yours.
There are a few limits that will determine whether BOP is suitable for your own business.
BOPs do not cover your professional liability or commercial vehicle risks.
Also, the size of your business will determine whether you are eligible to take out BOP cover.
The typical business that can take out a BOP policy must have no more than one hundred employees, and not more than five million dollars in annual sales.
In addition, you must separately take out the required worker’s compensation, health and disability insurance as determined for your state.
Workers Compensation insurance for your YouTube Personality business employees
In most states, it is mandatory to have workers compensation insurance when your YouTube Personality business has one or more employees.
Workers compensation insurance covers the enterprise against any costs that arise if any hired hand experiences an injury or becomes sick as a result of work.
The benefits cover medical expenses, death benefits, lost wages, and vocational rehabilitation.
Failure to meet a state’s regulations in this regard can leave you as the employer having to pay penalties levied by the states.
Some states, such as North Dakota, Ohio, Washington, West Virginia, and Wyoming only allow coverage from the government-run monopoly state funds.
In these states, you can’t get your workers compensation obligations from private insurance providers.
Workers compensation rates are computed based on the employee’s pay, and usually come out at around $1.00 per $100 per month.
However, you must see the relevant authorities in your state.
Average costs of these types of insurance
Although every YouTube Personality insurance requirement is unique, there are enough examples of usual quotes from insurance companies for us to give approximate guidelines, including what are the cheapest rates offered.
Of course, you should always check with an agent what’s relevant for your business.
The list below is of annual premiums we have collected for the main types of insurance your YouTube Personality businesses needs.
| Types of insurance | Price range |
| Product liability insurance | $306 – $548 |
| Equipment insurance | $476 – $1190 |
| General liability insurance | $667 – $898 |
| Commercial vehicle insurance | $1782 – $2672 |
| Commercial insurance | $967 – $2388 |
| Public liability insurance | $392 – $725 |
Cost of insurance for your YouTube Personality operations depends on many different factors.
We have estimated these figures for small independent YouTube Personality businesses.
In larger states like Texas, premiums are generally about 20%-30% higher than national averages, whereas in smaller states like Oregon, they can be about 20%-30% cheaper.
The location and size and type of your YouTube Personality business can have a big effect on the cost of different policies.
You should consult with professional insurance agents and brokers, or insurance company representatives.
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In addition you can let the internet do the work for you by looking for insurance companies near where your business is located.
Another reliable source of information is the local Better Business Bureau in your town.
FAQ
What is small business insurance for YouTube Personality operations?
This is an umbrella term used to describe common insurance policies designed to protect YouTube Personality business owners from risks like bodily injury, property damage, claims of negligence.
Does my YouTube Personality business have to have insurance?
Some of the types of insurance are not mandatory for you to open your business, but they can protect you from risks in your business operations.
Several other forms are required by state law, such as workers compensation and vehicle insurance.
What does a small YouTube Personality business insurance policy cover?
Liability insurance provides coverage against lawsuits or claims filed by a customer for bodily injury, property damage, or negligence.
The precise cover will vary based on your own operations.
See the table in the costing section above for average prices of the recommended policies for YouTube Personality insurance.
How much will YouTube Personality business insurance cost?
On top of the size of the business, some other factors, such as location and claims history, are used to determine your policy’s cost.
You should talk to professional insurance agents and brokers, or insurance company representatives.
