Jazz and Blues insurance – cost and types of policies

Whenever you budget the expenses of your business, Jazz and Blues insurance must be included in the list because you can’t always know exactly what is going to 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 Jazz and Blues enterprise, you must consider how much financial danger you are taking on.

If your Jazz and Blues business runs without proper insurance, you are taking a tremendous 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 results of their actions. 

Jazz and Blues Insurance

In this article, we are giving very general guidelines for small businesses to explain 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 Jazz and Blues business?

What this means, for any Jazz and Blues 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 Jazz and Blues 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 New Jersey, 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 plaintiff more than they have claimed.

When you are running your Jazz and Blues operations, you can’t deny responsibility for the consequences of your actions.

Even more importantly, unless you have spent in advance the money necessary to have your business running as a corporation, all of that liability belongs to you as an individual.

What does Jazz and Blues insurance protect you from?

For your Jazz and Blues business, the most important sorts 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 explain the most important points any Jazz and Blues business owner should consider when negotiating the insurance needed.

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

Liability insurance

General liability insurance

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

In such a case, they can demand compensation.

General liability insurance policy for your Jazz and Blues business covers you against claims coming from injury to visitors or damage to their property.

It protects your Jazz and Blues business from the claims themselves and in addition 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 usual level of general liability insurance for your Jazz and Blues 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 Jazz and Blues insurance operations.

Professional liability insurance for your Jazz and Blues business

In the event where a customer alleges some negligence, errors, or omissions in how you conducted your Jazz and Blues business for them, you can quickly face a court case.

Even if the case 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 Jazz and Blues 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 Jazz and Blues insurance section below for average prices of professional liability insurance for your Jazz and Blues 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 recommendation was basically incorrect.

You need to understand 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 damages caused by products claimed to be defective.

To cover yourself against any following lawsuit, you need Product liability insurance for Jazz and Blues

Only you can know exactly how much insurance you must have.

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

Commercial insurance

Commercial vehicle insurance for your Jazz and Blues business

Be careful! – almost all policies for private vehicle insurance do not cover any occurrence like theft or accidental damage when the vehicle 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 proper commercial vehicle insurance package.

Commercial truck 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 covered if your car is involved in an accident.

Most states, other than Virginia and New Hampshire, require this type of insurance.

The necessary 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 Jazz and Blues business needs specialized and expensive equipment, you can appreciate 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 unexpected acts.

Also, 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 unique 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 Jazz and Blues 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 Jazz and Blues business’ equipment.

Commercial Property insurance

Any Jazz and Blues business that owns or rents space in a building needs a commercial property insurance policy.

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

Every physical building location must carry insurance coverage for the value of the premises and contents against natural occurrences like fire and storms, and against man-made damages like theft and vandalism.

If your Jazz and Blues business works in areas of high risk, like Texas or South Carolina, additional coverage may be needed for earthquakes and hurricanes or tornadoes.

In other states like Washington, where unlimited cold snaps can cause damage to outer coverings of Jazz and Blues business premises, there is a need for more extra 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 Jazz and Blues insurance section below to give some estimate of the average prices per million dollars of property insurance for your Jazz and Blues business.

Temporary insurance by month, week or day for your Jazz and Blues business

Is your Jazz and Blues business working part-time or casually, or is the level of business seasonal?

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

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

The essential feature of short-term insurance is that you buy the cover for a defined period – a nominated 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 larger 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 Jazz and Blues 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 combines commercial property and public liability insurance by incorporating these coverages into one insurance policy, which can save you money.

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

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

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

BOPs cannot 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 typical business that is allowed to take a BOP policy must have no more than one hundred employees, and under five million dollars in annual revenue.

Plus, you must separately take out the necessary worker’s compensation, health and disability insurance as determined for your state.

Workers Compensation insurance for your Jazz and Blues business employees

In most states, it is mandatory to have workers compensation insurance when your Jazz and Blues business has one or more employees.

Workers compensation insurance covers the enterprise 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 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 may not take out your workers compensation obligations from private insurance corporations.

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 consult the relevant authorities in your state.

Average costs of these types of insurance

Although every Jazz and Blues insurance requirement is unique, there are enough examples of average quotes from insurance companies for us to give rough 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 collected for the main types of insurance your Jazz and Blues businesses needs.

Types of insurance Price range
Product liability insurance $251 – $895
Commercial vehicle insurance $1754 – $2715
Commercial insurance $992 – $2917
General liability insurance $578 – $1000
Equipment insurance $475 – $1022
Public liability insurance $392 – $609

Cost of insurance for your Jazz and Blues operations depends on many different factors.

We have calculated these figures for small freelance Jazz and Blues businesses.

In larger states like New York, premiums are generally about 20%-30% higher than national averages, while in smaller states like Utah, they can be about 20%-30% less.

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

You should talk to 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 reliable source of information is the local Better Business Bureau in your town.

FAQ

What is small business insurance for Jazz and Blues operations?

This is a wide term used to describe common insurance policies designed to protect Jazz and Blues business owners from risks like bodily injury, property damage, claims of negligence.

Does my Jazz and Blues business have to have insurance?

Some of the forms of insurance are not mandatory for you to operate 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 Jazz and Blues business insurance policy cover?

Liability insurance provides insurance against lawsuits or claims filed by a client 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 Jazz and Blues insurance.

How much will Jazz and Blues business insurance cost?

On top of 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.

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