
Insurance is one of the most important yet most overlooked expenses in business. Unfortunately its costs have risen over the years as a result of economic stress (i.e. it’s a risky time to start a business), and with increasing needs to stay covered, companies have little choice but to pay up.
So how much is business insurance today? It depends on the type of coverage you’re getting—most businesses have two or more types. Liability insurance, one of the most common, protects the company’s assets in case it is put under question, for instance in a lawsuit. This is usually calculated as a portion of the earnings. For example, for every ...