Business Liability Insurance Question?
I am opening a baseball training facility in SC. There will be children contained by the facility. I will have 2 full time employees and I will probably spawn less than 75k per year. How much can I expect to pay per year contained by liability insurance?
Answers:
The best thing to do is contact a local insurance agent. If you know any other trainers (football, soccer...) you could ask who they use. Source(s): http://www.findlocalinsurance.com
It's a tough question to answer because in that are just too many variables. You really want to talk to an agent or broker, preferably one that has deal with some of the specialty factors involved surrounded by running a camp or facility that works with kids.
I option I could help more.
This will be rated based on the gross receipts and number of children, broken down by ages - not on your take-home pay or number of employees.
As a new endeavour, I'd expect minimum premium to START at $5,000. And it WON'T include medical payments. If you want coverage for the kids if they get hurt (like, hit with a baseball that knock out a tooth), your ALSO going to have to get a group coincidence policy. Which will be rated on the number of kids. Want coverage for corporal punishment or sexual misconduct? That's going to be seperate, too.
You'll ALSO need workers comp for your personnel. Expect that to run you about 20% of payroll.
But in demand to get "real" quotes, you'll have to contact a local agent. Don't bother beside the State Farm and Allstate types - they are NOT going to want to touch this with a ten foot pole. You'll be looking at an excess lines/sports/adventure specialist for this. Source(s): agent, 21+ years
Related Questions:
Answers:
The best thing to do is contact a local insurance agent. If you know any other trainers (football, soccer...) you could ask who they use. Source(s): http://www.findlocalinsurance.com
It's a tough question to answer because in that are just too many variables. You really want to talk to an agent or broker, preferably one that has deal with some of the specialty factors involved surrounded by running a camp or facility that works with kids.
I option I could help more.
This will be rated based on the gross receipts and number of children, broken down by ages - not on your take-home pay or number of employees.
As a new endeavour, I'd expect minimum premium to START at $5,000. And it WON'T include medical payments. If you want coverage for the kids if they get hurt (like, hit with a baseball that knock out a tooth), your ALSO going to have to get a group coincidence policy. Which will be rated on the number of kids. Want coverage for corporal punishment or sexual misconduct? That's going to be seperate, too.
You'll ALSO need workers comp for your personnel. Expect that to run you about 20% of payroll.
But in demand to get "real" quotes, you'll have to contact a local agent. Don't bother beside the State Farm and Allstate types - they are NOT going to want to touch this with a ten foot pole. You'll be looking at an excess lines/sports/adventure specialist for this. Source(s): agent, 21+ years
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