Whenever you budget the expenses of your business, Voice Over Lessons insurance must be included in the list because you can’t always know exactly what is going to happen in the future.
Need General Liability Insurance for Your Voice Over Lessons
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With the protection provided by general insurance and all the other types of insurance we will tell you about, you can protect your business and yourself in case something unforeseen happens.
Like any business owner, for your Voice Over Lessons enterprise, you must consider how much financial danger you are taking on.
If your Voice Over Lessons business runs without proper insurance, you are taking a giant 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 consequences of their actions.
In this article, we are giving very general guidelines for startup businesses to outline 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 Voice Over Lessons business?
What this means, for any Voice Over Lessons 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 Voice Over Lessons business is not protected 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 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 sort.
When you are running your Voice Over Lessons operations, you can’t escape responsibility for the consequences 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 alone.
What does Voice Over Lessons insurance protect you from?
For your Voice Over Lessons business, the most important types of insurance are intended to cover the risks to your business from accidents, from unexpected events, and from mistakes.
As well there are some official kinds of insurance that various states require.
In the next few paragraphs, we will describe the most important points any Voice Over Lessons business owner should know when negotiating the insurance needed.
The main categories of insurance for your Voice Over Lessons businesses are liability insurance, commercial insurance, asset insurance and workers compensation insurance.
General liability for your Voice Over Lessons operations
Any Voice Over Lessons business is dealing directly with other people, and that means you usually have the danger that some accident can happen to them themselves or else something of theirs can be ruined.
In such a case, they can demand compensation.
General liability insurance policy for your Voice Over Lessons business insures you against claims coming from injury to visitors or damage to their property.
It protects your Voice Over Lessons 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 insist on proper liability insurance.
The usual level of general liability insurance for your Voice Over Lessons business would be with a upper limit 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 Voice Over Lessons insurance operations.
Professional liability insurance for your Voice Over Lessons business
In the event where a client alleges some negligence, errors, or omissions in how you conducted your Voice Over Lessons business for them, you can quickly face a court case.
Even if the matter against you is ruled in your favor, the cost of defense can be substantial, and the impact on your reputation can be damaging.
Most small Voice Over Lessons 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 Voice Over Lessons insurance section below for average prices of professional liability insurance for your Voice Over Lessons operations.
Product liability insurance for your Voice Over Lessons business
Whatever goods you sell or advice you give about the goods, you are running a risk that customers may claim that what they received didn’t meet your description of function, or that your advice 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 Voice Over Lessons
Only you can know exactly how much insurance you must have.
Best advice is to consult with experienced insurance agents, brokers or company representatives for guidance.
Commercial vehicle insurance for your Voice Over Lessons business
Be careful! – most policies for private vehicle insurance do not cover any happening like theft or accidental damage when the van 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 direct commercial vehicle insurance package.
Commercial car policies cover the value of any vehicle in case of accident, malicious damage, fire, or theft.
As well, in case of any accident, the car itself, the content and any legal bills, medical expenses, and property damage is insured if your car is involved in a crash.
Most states, other than Virginia and New Hampshire, mandate this type of insurance.
The required value of the insurance is worked-out for the depreciated value of the vehicle, and your declared level of cover of contents.
Tools and Equipment insurance for your Voice Over Lessons business
Since your Voice Over Lessons business needs specific and dedicated 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 unforeseen acts.
In addition, 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 unique gear quickly out of your own pocket, you need full-level equipment insurance so that you can immediately buy any equipment needed to keep your Voice Over Lessons 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 Voice Over Lessons business’ equipment.
Commercial Property insurance for your Voice Over Lessons operations
Any Voice Over Lessons business that owns or rents space in a building must have 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.
Any physical building location should carry insurance coverage for the value of the premises and contents against unexpected occurrences like fire and storms, and against deliberate damages like theft and vandalism.
If your Voice Over Lessons 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 Washington, where extreme cold snaps can cause damage to outer coverings of Voice Over Lessons business premises, there is a need for more extra cover than in warmer climes.
Because the level of cover depends entirely 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 Voice Over Lessons insurance section below to give some idea of the average prices per million dollars of property insurance for your Voice Over Lessons business.
Temporary insurance by month, week or day for your Voice Over Lessons business
Is your Voice Over Lessons business working part-time or casually, or is the level of business fluctuating?
Using short-term insurance makes excellent sense. Business insurance by the month, day, or week – temporary insurance for Voice Over Lessons – 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 reduced premiums but still having identical risk cover.
The important 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 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 Voice Over Lessons 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 packaging 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 Voice Over Lessons businesses, such as yours.
There are two limits that will dictate 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 can take out a BOP policy must have fewer than one hundred employees, and maximum five million dollars in annual sales.
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 Voice Over Lessons business employees
In many states, it is mandatory to have workers compensation insurance when your Voice Over Lessons 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 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 authorize coverage from the government-run monopoly state funds.
In these states, you cannot obtain 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 Voice Over Lessons insurance requirement 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 insurance representative what’s relevant for your business.
The list below is of annual premiums we have researched for the main types of insurance your Voice Over Lessons businesses needs.
|Types of insurance||Price range|
|Public liability insurance||$320 – $721|
|Commercial vehicle insurance||$1669 – $3332|
|Equipment insurance||$421 – $1339|
|Product liability insurance||$256 – $870|
|General liability insurance||$688 – $1054|
|Commercial insurance||$1182 – $2936|
Cost of insurance for your Voice Over Lessons operations depends on many different factors.
We have estimated these figures for small freelance Voice Over Lessons businesses.
In larger states like California, premiums are generally about 20%-30% higher than national averages, but in smaller states like New Mexico, they will be about 20%-30% cheaper.
The location and size and type of your Voice Over Lessons 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.
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As well you can let the internet do the work for you by looking for insurance companies near where your business is located.
Another good source of information is the local Better Business Bureau in your suburb.
What is small business insurance for Voice Over Lessons operations?
This is a wide term used to describe common insurance policies designed to protect Voice Over Lessons business owners from risks like bodily injury, property damage, claims of negligence.
Does my Voice Over Lessons 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.
Some other forms are required by state law, such as workers compensation and vehicle insurance.
What does a small Voice Over Lessons business insurance policy cover?
Liability insurance provides protection against lawsuits or claims filed by a third-party 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 Voice Over Lessons insurance.
How much will Voice Over Lessons 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 consult with professional insurance agents and brokers, or insurance company representatives.