State Tested Nursing Assistant Insurance – What Kind and at What Cost

Whenever you budget the expenses of your business, State Tested Nursing Assistant 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 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 unexpected happens.

Like any business owner, for your State Tested Nursing Assistant enterprise, you must consider how much financial danger you are taking on.

Business Insurance for State Tested Nursing Assistant

If your State Tested Nursing Assistant 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 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 available, a rough guide to how much you can expect to pay.

The question is, can you afford to NOT have insurance for your State Tested Nursing Assistant business?

What this means, for any State Tested Nursing Assistant business owner, is that if some customer 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 State Tested Nursing Assistant 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 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 plaintiff more than they have sued for.

When you are running your State Tested Nursing Assistant 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 a corporation, all of that liability belongs to you as a person.

What does State Tested Nursing Assistant insurance protect you from?

For your State Tested Nursing Assistant business, the most important kinds of insurance are intended to cover the risks to your business from accidents, from unexpected events, and from mistakes.

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

In the next few paragraphs, we will explain the most important points any State Tested Nursing Assistant business owner should remember when negotiating the insurance needed.

The main types of insurance for your State Tested Nursing Assistant businesses are liability insurance, commercial insurance, asset insurance and workers compensation insurance.

Liability insurance

General liability insurance

Any State Tested Nursing Assistant business is dealing directly with members of the public, and that means you usually 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 require compensation.

General liability insurance policy for your State Tested Nursing Assistant business covers you against claims coming from injury to clients or damage to their property.

It protects your State Tested Nursing Assistant business from the claims themselves and also to any associated court costs and legal fees of the lawsuits.

In many cases, it should 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 State Tested Nursing Assistant 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 State Tested Nursing Assistant insurance operations.

Professional liability insurance for your State Tested Nursing Assistant business

In the event where a customer alleges some negligence, errors, or omissions in how you conducted your State Tested Nursing Assistant business for them, you can quickly have to fight a court case.

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

Every small State Tested Nursing Assistant 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 State Tested Nursing Assistant insurance section below for average prices of professional liability insurance for your State Tested Nursing Assistant 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 you delivered didn’t meet your description of function, or that your recommendation was basically incorrect.

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

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

To cover yourself against any following lawsuit, you need Product liability insurance for State Tested Nursing Assistant

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 State Tested Nursing Assistant business

Be careful! – most policies for private vehicle insurance do not cover any occurrence like theft or accidental damage when the car is being used for business purposes.

The best 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.

In addition, in case of any accident, the truck itself, the content and any legal bills, medical expenses, and property damage is insured if your van is involved in a collision.

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

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

Tools and Equipment insurance

Since your State Tested Nursing Assistant business needs unique and expensive equipment, you will realize 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 unpredicted acts.

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

Unless you can afford to immediately replace such specialized gear quickly out of your own pocket, you must have full-level equipment insurance so that you can immediately buy any equipment needed to keep your State Tested Nursing Assistant business running.

It is hard to advise how much equipment insurance you need – it’s really dependent on how much you have invested in your State Tested Nursing Assistant business’ equipment.

Commercial Property insurance

Any State Tested Nursing Assistant 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 should 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 State Tested Nursing Assistant business works in areas of high risk, like Florida or South Carolina, additional 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 State Tested Nursing Assistant business premises, there is a need for more additional 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 State Tested Nursing Assistant insurance section below to give some idea of the average prices per million dollars of property insurance for your State Tested Nursing Assistant business.

Temporary insurance by month, week or day for your State Tested Nursing Assistant business

Is your State Tested Nursing Assistant 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 State Tested Nursing Assistant – 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 identical risk cover.

The key feature of short-term insurance is that you pay for 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 State Tested Nursing Assistant business

You have the choice to combine a few 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 shield you if any claims of injury or property damage are made.

It is mostly the right choice for small and medium-sized State Tested Nursing Assistant 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 cover.

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

The normal business that is allowed to take a BOP policy must have less than one hundred employees, and under five million dollars in annual revenue.

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 State Tested Nursing Assistant business employees

In many states, it is mandatory to have workers compensation insurance when your State Tested Nursing Assistant business has one or more employees.

Workers compensation insurance covers the business against any costs that arise if an employee 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 laws 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 cannot take out your workers compensation obligations from private insurance providers.

Workers compensation rates are worked out 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 State Tested Nursing Assistant insurance need 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 a broker what’s relevant for your business.

The list below is of annual premiums we have collected for the main types of insurance your State Tested Nursing Assistant businesses needs.

Types of insurance Price range
Product liability insurance $310 – $725
Public liability insurance $295 – $665
General liability insurance $615 – $1000
Commercial insurance $945 – $2490
Commercial vehicle insurance $1650 – $3485
Equipment insurance $440 – $1085

Cost of insurance for your State Tested Nursing Assistant operations depends on many different factors.

We have reckoned these figures for small freelance State Tested Nursing Assistant businesses.

In larger states like New York, premiums are generally about 20%-30% higher than national averages, while in smaller states like Oregon, they usually are about 20%-30% lower.

The location and size and type of your State Tested Nursing Assistant 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 useful source of information is the local Better Business Bureau in your town.

FAQ

What is small business insurance for State Tested Nursing Assistant operations?

This is a wide term used to describe common insurance policies designed to protect State Tested Nursing Assistant business owners from risks like bodily injury, property damage, claims of negligence.

Does my State Tested Nursing Assistant 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.

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

What does a small State Tested Nursing Assistant business insurance policy cover?

Liability insurance provides protection against lawsuits or claims filed by a client 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 State Tested Nursing Assistant insurance.

How much will State Tested Nursing Assistant business insurance cost?

On top of the size of the business, several other factors, such as location and claims history, are used to determine your policy’s cost.

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

You can search for more information insurance for State Tested Nursing Assistant, in the search box below, and follow the relevant links.

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