Ticketing Agent insurance – what kind and at what cost

Whenever you budget the expenses of your business, Ticketing Agent insurance must be included in the list because you can’t always know exactly what can 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 Ticketing Agent enterprise, you must consider how much financial liability you are taking on.

Business Insurance for Ticketing Agent

If your Ticketing Agent 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 upshots of their actions. 

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 Ticketing Agent business?

What this means, for any Ticketing Agent business owner, is that if some company 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 Ticketing Agent business is not sheltered 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 privilege 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 Ticketing Agent operations, you can’t avoid responsibility for the outcomes of your actions.

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

What does Ticketing Agent insurance protect you from?

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

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

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

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

Liability insurance

General liability insurance

Any Ticketing Agent business is dealing directly with customers, and that means you usually 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 require compensation.

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

It protects your Ticketing Agent business from the claims themselves and as well 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 average level of general liability insurance for your Ticketing Agent 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 Ticketing Agent insurance operations.

Professional liability insurance for your Ticketing Agent business

In the event where a buyer alleges some negligence, errors, or omissions in how you conducted your Ticketing Agent business for them, you can quickly be involved in a court case.

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.

Most small Ticketing Agent 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 Ticketing Agent insurance section below for average prices of professional liability insurance for your Ticketing Agent operations.

Product liability insurance

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

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

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

To cover yourself against any possible lawsuit, you need Product liability insurance for Ticketing Agent

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

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

Commercial insurance

Commercial vehicle insurance for your Ticketing Agent business

Beware! – almost all 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 truck policies guarantee the value of any vehicle in case of accident, malicious damage, fire, or theft.

Also, in case of any accident, the van itself, the content and any legal bills, medical expenses, and property damage is covered 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 requested level of cover of contents. 

Tools and Equipment insurance

Since your Ticketing Agent 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 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 need full-level equipment insurance so that you can immediately buy whatever needed to keep your Ticketing Agent business running.

It is hard to advise how much equipment insurance you need – it’s essentially dependent on how much you have invested in your Ticketing Agent business’ equipment.

Commercial Property insurance

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

If you own the building, you may already have a substantial capital investment, along with 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 unexpected occurrences like fire and storms, and against criminal damages like theft and vandalism.

If your Ticketing Agent business operates in areas of high risk, like Texas or South Carolina, extra coverage may be needed for earthquakes and hurricanes or tornadoes.

In other states like Washington, where extreme cold snaps can cause damage to outer coverings of Ticketing Agent business premises, there is a need for more supplementary cover than in warmer climes.

Whereas 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 Ticketing Agent insurance section below to give some indication of the average prices per million dollars of property insurance for your Ticketing Agent business.

Temporary insurance by month, week or day for your Ticketing Agent business

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

Using short-term insurance makes perfect sense. Business insurance by the month, day, or week – temporary insurance for Ticketing Agent – 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 less premiums but still having identical risk cover.

The important feature of short-term insurance is that you buy 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 larger 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 Ticketing Agent 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 combines commercial property and public liability insurance by incorporating 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 frequently the right choice for small and medium-sized Ticketing Agent businesses, such as yours.

There are a few 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 dictate whether you are allowed to take out BOP cover.

The typical business that is allowed to take a BOP policy must have less than one hundred employees, and not more than five million dollars in annual sales.

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 Ticketing Agent business employees

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

Workers compensation insurance covers the enterprise against any costs that arise if an employee experiences an injury or becomes sick as a result of work.

The benefits cover 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 authorize coverage from the government-run monopoly state funds.

In these states, you cannot take out your workers compensation obligations from private insurance companies.

Workers compensation charges are worked out 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 Ticketing Agent insurance level 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 gathered for the main types of insurance your Ticketing Agent businesses needs.

Types of insurance Price range
Product liability insurance $345 – $720
General liability insurance $585 – $1225
Commercial vehicle insurance $1560 – $3075
Public liability insurance $320 – $735
Commercial insurance $845 – $2700
Equipment insurance $400 – $1290

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

We have calculated these figures for small independent Ticketing Agent businesses.

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

The location and size and type of your Ticketing Agent 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 city.

FAQ

What is small business insurance for Ticketing Agent operations?

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

Does my Ticketing Agent business have to have insurance?

Some of the kinds of insurance are not mandatory for you to run 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 Ticketing Agent 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 Ticketing Agent insurance.

How much will Ticketing Agent 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.

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

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