Whenever you budget the expenses of your business, Dancers insurance must be near the top of the list because you can’t always know exactly what could happen in the future.
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With the protection provided by liability insurance and all the other sorts 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 Dancers enterprise, you must consider how much financial liability you are taking on.
If your Dancers business runs without proper insurance, you are taking a tremendous 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 results of their actions.
In this article, we are giving very general guidelines for small businesses to outline what the main kinds of insurance that you need are, and where we can, a rough guide to how much you can expect to pay.
The question is, can you afford to NOT have insurance for your Dancers business?
What this means, for any Dancers business owner, is that if some person claims that your actions caused them some physical or economic damage, a court can award damages far beyond the total size of your business.
Your Dancers business is not harbored 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 person more than they have sort.
When you are running your Dancers operations, you can’t avoid responsibility for the results of your actions.
Even more importantly, unless you have spent beforehand the money necessary to have your business running as an LLC, all of that liability belongs to you as an individual.
What does Dancers insurance protect you from?
For your Dancers business, the most important sorts of insurance are designed 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 describe the most important points any Dancers business owner should know when negotiating the insurance needed.
The main headings of insurance for your Dancers businesses are liability insurance, commercial insurance, asset insurance and workers compensation insurance.
General liability insurance
Any Dancers business is dealing directly with members of the public, and that means you always have the danger that some accident can happen to them bodily or else something of theirs can be ruined.
In such a case, they can sue you for compensation.
General liability insurance policy for your Dancers business protects you against claims coming from injury to clients or damage to their property.
It protects your Dancers business from the claims themselves and in addition to any follow-on court costs and legal fees of the lawsuits.
In many cases, it can also help you to qualify for extra business from city and state organizations, where contracts demand proper liability insurance.
The normal level of general liability insurance for your Dancers business would be with a upper limit 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 Dancers insurance operations.
Professional liability insurance for your Dancers business
In the event where a buyer alleges some negligence, errors, or omissions in how you conducted your Dancers business for them, you can quickly face a monetary claim.
Even if the matter 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 Dancers business should have enough professional liability insurance to cover a single claim of $25,000, with annual cover of $50,000.
See the table in the cost of Dancers insurance section below for average prices of professional liability insurance for your Dancers 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 what you delivered didn’t meet your description of function, or that your advice was basically incorrect.
You need to know the particular laws of product liability in your own state.
For example, in California, all businesses in the supply chain can be held liable for injuries caused by products claimed to be defective.
To cover yourself against any following lawsuit, you need Product liability insurance for Dancers
Only you can know exactly how much insurance you need.
Best advice is to contact experienced insurance agents, brokers or company representatives for help.
Commercial vehicle insurance for your Dancers business
Take care! – almost all policies for private vehicle insurance do not cover any event like theft or accidental damage when the vehicle 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 designated commercial vehicle insurance package.
Commercial truck policies insure the value of any vehicle in case of accident, malicious damage, fire, or theft.
Also, in case of any accident, the car itself, the content and any legal bills, medical expenses, and property damage is guaranteed if your car is involved in a crash.
Most states, other than Virginia and New Hampshire, require this type of insurance.
The wanted 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
Since your Dancers business needs specific and costly equipment, you know 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.
As well, 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 should have full-level equipment insurance so that you can immediately buy whatever needed to keep your Dancers business running.
It is difficult to advise how much equipment insurance you need – it’s essentially dependent on how much you have invested in your Dancers business’ equipment.
Commercial Property insurance
Any Dancers business that owns or rents space in a building needs a commercial property insurance policy.
If you own the building, you probably have a substantial capital investment, in addition to a big liability if there’s a mortgage.
Any physical building location needs to 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.
In other states like Rhode Island, where unlimited cold snaps can cause damage to outer coverings of Dancers 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 Dancers insurance section below to give some estimate of the average prices per million dollars of property insurance for your Dancers business.
Temporary insurance by month, week or day for your Dancers business
Is your Dancers business working part-time or casually, or is the level of business fluctuating?
Using short-term insurance makes good sense. Business insurance by the month, day, or week – temporary insurance for Dancers – 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 the same risk cover.
The essential feature of short-term insurance is that you purchase 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 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 Dancers 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 incorporating 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 often the right choice for small and medium-sized Dancers businesses, such as yours.
There are two limits that will rule 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 permitted to take out BOP cover.
The usual business that is eligible for a BOP policy must have fewer than one hundred employees, and not more than five million dollars in annual turnover.
In addition, you must separately take out the necessary worker’s compensation, health and disability insurance as determined for your state.
Workers Compensation insurance for your Dancers business employees
In almost all states, it is mandatory to have workers compensation insurance when your Dancers business has one or more employees.
Workers compensation insurance covers the operation against any costs that arise if a worker 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 laws in this regard can leave you as the employer obliged to pay penalties levied by the states.
In these states, you can’t get your workers compensation obligations from private insurance providers.
Workers compensation rates are calculated based on the employee’s pay, and usually come out at around $1.00 per $100 per month.
However, you must refer to the relevant authorities in your state.
Average costs of these types of insurance
Although every Dancers insurance need is unique, there are enough examples of standard 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 gathered for the main types of insurance your Dancers businesses needs.
|Types of insurance||Price range|
|Commercial insurance||$1010 – $2315|
|Equipment insurance||$325 – $1295|
|Commercial vehicle insurance||$1670 – $2715|
|Product liability insurance||$325 – $755|
|General liability insurance||$645 – $1105|
|Public liability insurance||$325 – $755|
Cost of insurance for your Dancers operations depends on many different factors.
We have calculated these figures for small self-employed Dancers businesses.
The location and size and type of your Dancers 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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As well you can let the internet do the work for you by searching for insurance companies near where your business is located.
Another reliable source of information is the local Better Business Bureau in your town.
What is small business insurance for Dancers operations?
This is an umbrella term used to describe standard insurance policies designed to protect Dancers business owners from risks like bodily injury, property damage, claims of negligence.
Does my Dancers 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.
Certain other forms are required by state law, such as workers compensation and vehicle insurance.
What does a small Dancers business insurance policy cover?
Liability insurance provides coverage 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 recommended policies for Dancers insurance.
How much will Dancers 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 consult with professional insurance agents and brokers, or insurance company representatives.
You can search for more information insurance for Dancers, in the search box below, and follow the relevant links.