Calligraphy insurance – what kind and at what cost

Whenever you budget the expenses of your business, Calligraphy insurance must be near the top of the list because you can’t always know exactly what is going to happen in the future.

With the protection provided by general insurance and all the other kinds of insurance we will tell you about, you can protect your business and yourself in case something unexpected happens.

Like any business owner, for your Calligraphy enterprise, you must consider how much financial danger you are taking on.

If your Calligraphy business runs without proper insurance, you are taking a giant chance not just of losing some money but of a total 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 startup 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 Calligraphy business?

What this means, for any Calligraphy business owner, is that if some person 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 Calligraphy 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 Texas, 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 right 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 Calligraphy operations, you can’t deny responsibility for the results of your actions.

Even more importantly, unless you have spent up-front the money necessary to have your business running as a corporation, all of that liability belongs to you alone.

What does Calligraphy insurance protect you from?

For your Calligraphy business, the most important kinds of insurance are meant to cover the risks to your business from accidents, from unexpected events, and from mistakes.

In addition there are some mandatory kinds of insurance that various states require.

In the next few paragraphs, we will describe the most important points any Calligraphy business owner should consider when negotiating the insurance needed.

The main categories of insurance for your Calligraphy businesses are liability insurance, commercial insurance, asset insurance and workers compensation insurance.

Liability insurance

General liability insurance

Any Calligraphy business is dealing directly with other people, and that means you generally have the danger that some accident can happen to them personally or else something of theirs can be ruined.

In such a case, they can demand compensation.

General liability insurance policy for your Calligraphy business protects you against claims coming from injury to customers or damage to their property.

It protects your Calligraphy business from the claims themselves and as well to any associated 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 demand proper liability insurance.

The average level of general liability insurance for your Calligraphy business would be with a cap of $1 million for a single claim 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 Calligraphy insurance operations.

Professional liability insurance for your Calligraphy business

In the event where a client alleges some negligence, errors, or omissions in how you conducted your Calligraphy business for them, you can quickly have to fight a law suit.

Even if the case against you is ruled in your favor, the cost of defense can be large, and the impact on your reputation can be damaging.

Most small Calligraphy business should have enough professional liability insurance to cover an individual claim of $25,000, with annual cover of $50,000.

See the table in the cost of Calligraphy insurance section below for average prices of professional liability insurance for your Calligraphy operations.

Product liability insurance

Whatever goods you sell or advice you give about the goods, you are running a risk that customers may claim that the results didn’t meet your description of function, or that your advice was basically incorrect.

You need to understand the specific laws of product liability in your own state.

For example, in California, all businesses in the supply chain can be held culpable for damages caused by products claimed to be defective.

To cover yourself against any following lawsuit, you need Product liability insurance for Calligraphy

Only you can determine exactly how much insurance you should get.

Best advice is to talk to experienced insurance agents, brokers or company representatives for guidance.

Commercial insurance

Commercial vehicle insurance for your Calligraphy business

Beware! – practically all policies for private vehicle insurance do not cover any happening like theft or accidental damage when the car is being used for business purposes.

The proper way to make sure that your vehicle is insured for both its own value, and the valuable contents, is by taking out a direct commercial vehicle insurance package.

Commercial car policies guarantee the value of any vehicle in case of accident, malicious damage, fire, or theft.

As well, 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, mandate this type of insurance.

The required value of the insurance is worked-out for the depreciated value of the vehicle, and your intended level of cover of contents. 

Tools and Equipment insurance

Since your Calligraphy 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 unpredicted acts.

In addition, acts of nature like lightning strikes, hurricanes, earthquakes, and other highly damaging natural events can eliminate your whole business in one stroke.

Unless you can afford to immediately replace such specific gear quickly out of your own pocket, you must have full-level equipment insurance so that you can immediately buy whatever needed to keep your Calligraphy 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 Calligraphy business’ equipment.

Commercial Property insurance

Any Calligraphy business that owns or rents space in a building should have a commercial property insurance policy.

If you own the building, you probably have a substantial capital investment, as well as a big liability if there’s a mortgage.

Your physical building location must carry insurance coverage for the value of the premises and contents against accidental occurrences like fire and storms, and against criminal damages like theft and vandalism.

If your Calligraphy business works in areas of high risk, like California or North Carolina, supplementary coverage may be needed for earthquakes and hurricanes or tornadoes.

In other states like Rhode Island, where intense cold snaps can cause damage to outer coverings of Calligraphy business premises, there is a need for more extra cover than in warmer climes.

Because 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 Calligraphy insurance section below to give some estimate of the average prices per million dollars of property insurance for your Calligraphy business.

Temporary insurance by month, week or day for your Calligraphy business

Is your Calligraphy business working part-time or casually, or is the level of business variable?

Using short-term insurance makes excellent sense. Business insurance by the month, day, or week – temporary insurance for Calligraphy – are special policies where you can cover a designated period when you want to be covered.

By only paying for that period of cover, you will save by having lower premiums but still having adequate risk cover.

The key feature of short-term insurance is that you purchase the cover for a defined period – a designated 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 better business activity, get the existing cover increased.

Talk to your insurance agent, broker or the company’s representatives to see what options you have.

Business Owners Policy BOP for your Calligraphy business

You have the choice 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 combines commercial property and public liability insurance by amalgamating these coverages into one insurance policy, which can save you money.

BOP insurance will cover you if any claims of injury or property damage are made.

It is mostly the right choice for small and medium-sized Calligraphy businesses, such as yours.

There are some limits that will dictate whether BOP is suitable for your own business.

BOPs do not cover your professional liability or commercial vehicle cover.

Also, the size of your business will dictate whether you are permitted to take out BOP cover.

The typical business that can take out a BOP policy must have no more than one hundred employees, and maximum 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 Calligraphy business employees

In almost all states, it is mandatory to have workers compensation insurance when your Calligraphy 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 provide for medical expenses, death benefits, lost wages, and vocational rehabilitation.

Failure to meet a state’s requirements in this regard can leave you as the employer obliged to pay penalties levied by the states.

Some states, such as North Dakota, Ohio, Washington, West Virginia, and Wyoming only permit coverage from the government-run monopoly state funds.

In these states, you can’t take out your workers compensation obligations from private insurance corporations.

Workers compensation charges are computed based on the employee’s pay, and usually come out at around $1.00 per $100 per month.

However, you must consult the relevant authorities in your state.

Average costs of these types of insurance

Although every Calligraphy insurance requirement is unique, there are enough examples of average quotes from insurance companies for us to give appropriate guidelines, including what are the cheapest rates offered.

Of course, you should always check with an insurance representative what’s relevant for your business.

The list below is of annual premiums we have gathered for the main types of insurance your Calligraphy businesses needs.

Cost of insurance for your Calligraphy operations depends on many different factors.

We have calculated these figures for small self-employed Calligraphy businesses.

In larger states like California, premiums are generally about 20%-30% higher than national averages, whereas in smaller states like Utah, they usually are about 20%-30% lower.

The location and size and type of your Calligraphy business can have a big effect on the cost of different policies.

You should discuss with professional insurance agents and brokers, or insurance company representatives.

As well you can let the internet do the work for you by enquiring about insurance companies near where your business is located.

Another good source of information is the local Better Business Bureau in your town.

FAQ

What is small business insurance for Calligraphy operations?

This is an umbrella term used to describe basic insurance policies designed to protect Calligraphy business owners from risks like bodily injury, property damage, claims of negligence.

Does my Calligraphy business have to have insurance?

Some of the types of insurance are not mandatory for you to run your business, but they can protect you from risks in your business operations.

Some other forms are required by state law, such as workers compensation and vehicle insurance.

What does a small Calligraphy business insurance policy cover?

Liability insurance provides protection against lawsuits or claims filed by a customer for bodily injury, property damage, or negligence.

The specific cover will vary based on your own operations.

See the table in the costing section above for average prices of the most common policies for Calligraphy insurance.

How much will Calligraphy business insurance cost?

As well as the size of the business, certain 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.