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insurance

by MBsha6, Window Shopper

  • Created: November 1, 2009, 3:57 pm
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3 comments

I would like to know if business insurance  and bonds are cheaper thru the government or by a private insurance company. I need quotes ASAP for $500,000 liability insurance ; bond insurance; and also workman's comp insurance.

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MBsha6 | Window Shopper | 10/28/2009 - 9:40 pm

I need to get liability insurance in the amount of $500,000 and and property damage insurance in the amount of $100,000 and also a surety bond in the amount of $10,000. Will it be cheaper to go through the government to get this or through a private insurance company? I need quotes for these ASAP. Thank you.

NicoleD | Former Moderator | 11/3/2009 - 12:16 pm

MBsha6 - Have you collected quotes from private insurers? I would recommend that you find research quote through local insurers and compare that with your state program. I'm not sure where you are located, but some states (like Missouri) offer workers' compensation comparison guides on their websites.

jw_surety_bonds | Window Shopper | 2/16/2010 - 10:38 am

The SBA has a surety bond program for contractors that don't qualify under traditional underwriting. However, the program is limited to contract surety bonding and the rates are higher than normal, not lower.