Mobile Djs Insurance – Cost and Coverage

Whenever you budget the expenses of your business, mobile djs insurance must be included in the list because you can’t always know exactly what could happen in the future.

With the protection provided by insurance against accidents and all the other sorts 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 mobile djs enterprise, you must consider how much financial danger you are taking on.

If your mobile djs 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 startup businesses to highlight 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 mobile djs business?

What this means, for any mobile djs business owner, is that if some customer 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 mobile djs business is not harbored by laws in the same way as states are, where laws 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 judge 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 mobile djs operations, you can’t escape responsibility for the outcomes of your actions.

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

What does mobile djs insurance protect you from?

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

Also there are some legal kinds of insurance that various states require.

In the next few paragraphs, we will outline the most important points any mobile djs business owner should remember when negotiating the insurance needed.

The main headings of insurance for your mobile djs businesses are liability insurance, commercial insurance, asset insurance and workers compensation insurance.

Liability insurance

General liability insurance

Any mobile djs business is dealing directly with other people, and that means you always have the danger that some accident can happen to them bodily or else something of theirs can be damaged.

In such a case, they can demand compensation.

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

It protects your mobile djs business from the claims themselves and also to any follow-on 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 average level of general liability insurance for your mobile djs business would be with a boundary of $1 million for a single event 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 mobile djs insurance operations.

Professional liability insurance for your mobile djs business

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

Even if the lawsuit against you is judged in your favor, the cost of defense can be high, and the impact on your reputation can be damaging.

Almost all small mobile djs 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 mobile djs insurance section below for average prices of professional liability insurance for your mobile djs operations.

Product liability insurance

Whatever goods you sell or advice you give about the goods, you are running a risk that buyers may claim that what they received didn’t meet your description of function, or that your guidance 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 culpable for injuries caused by products claimed to be defective.

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

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

Best advice is to consult with experienced insurance agents, brokers or company representatives for help.

Commercial insurance

Commercial vehicle insurance for your mobile djs business

Be careful! – most policies for private vehicle insurance do not cover any happening 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 direct commercial vehicle insurance package.

Commercial car policies guarantee 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 truck is involved in an accident.

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

The wanted value of the insurance depends on the depreciated value of the vehicle, and your intended level of cover of contents. 

Tools and Equipment insurance

Since your mobile djs business needs specialized and costly equipment, you know how much it can cost to replace it in case of any damage, loss, or theft.

The equipment 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 should have full-level equipment insurance so that you can immediately buy any equipment needed to keep your mobile djs business running.

It is impossible to advise how much equipment insurance you need – it’s basically dependent on how much you have invested in your mobile djs business’ equipment.

Commercial Property insurance

Any mobile djs business that owns or rents space in a building must have a commercial property insurance policy.

If you own the property, you probably have a substantial capital investment, along with a big liability if there’s a mortgage.

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

If your mobile djs business works in areas of high risk, like Florida 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 mobile djs 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 mobile djs insurance section below to give some idea of the average prices per million dollars of property insurance for your mobile djs business.

Temporary insurance by month, week or day for your mobile djs business

Is your mobile djs 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 mobile djs – 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 important feature of short-term insurance is that you pay for 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 higher 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 mobile djs business

You have the option to combine several of the important kinds of small business insurance in one policy that is known as the business owner’s policy – BOP.

A BOP merges 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 often the right choice for small and medium-sized mobile djs businesses, such as yours.

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

BOPs will not cover your professional liability or commercial vehicle policies.

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

The usual 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 mandated worker’s compensation, health and disability insurance as determined for your state.

Workers Compensation insurance for your mobile djs business employees

In most states, it is mandatory to have workers compensation insurance when your mobile djs 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 include 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 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 take out your workers compensation obligations from private insurance corporations.

Workers compensation premiums 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 mobile djs insurance level is unique, there are enough examples of average 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 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 mobile djs businesses needs.

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

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

In larger states like California, 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 mobile djs 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.

Also 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 mobile djs operations?

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

Does my mobile djs business have to have insurance?

Some of the forms 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 mobile djs 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 most common policies for mobile djs insurance.

How much will mobile djs business insurance cost?

As well as 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.

You can search for more information insurance for mobile djs, in the search box below, and follow the relevant links.

Related Industries:

Mobile Design insurance – cost and coverage Mobile App Marketing insurance – cost and coverage Mobile Apps insurance – cost and coverage Mobile Architect Insurance – Cost and Coverage Mobile Application Developer insurance – cost and coverage Mobile Dog Groomers Insurance – Cost and Coverage Mobile Oil Change Shops Insurance – Cost and Coverage Mobile Phone Retailer insurance – cost and types of policies Mobile Phone Repair insurance – what kind and at what cost Mobile Developer insurance – what kind and at what cost Mobile Engineer insurance – what kind and at what cost Mobile Vets Insurance – What Kind and at What Cost