How much should I expect to pay for insurance?

For a typical small service business, the guide is written around roughly US$1,000–6,000 per year in premiums. The whole process is built so you set limits and deductibles deliberately and compare three quotes on coverage and exclusions, not on premium alone — the point is that you do not overpay for exposures you do not have.

Do I need an insurance broker to do this?

No particular channel is required. The guide's quote phase has you pick three channels, submit the same specification package to all three, and compare the results on coverage rather than premium. It gives you the factsheet to hand to any agent or insurer and a comparison method that works on whatever comes back.

I'm not based in the US. Will this guide work for me?

Probably not as written. The guide assumes a US business — you need an EIN, and one phase has you check workers' compensation rules in each state you operate in. The exposure-inventory and quote-comparison method would still translate, but the compliance steps will not apply outside the US.

Will this guide help me after I buy the policy, or only with the purchase?

It covers through purchase and a bit beyond. Once you bind the policy, the final phase has you verify the wording against your requirements, get certificates issued to every client and landlord that requires one, file workers' comp proof where required, and set a renewal reminder so you do not drift back into overpaying. What it deliberately does not cover is claims handling, life or health insurance for owners, or advice on a specific risk.

Buy the right business insurance without overpaying

Q: I don't have employees. Will the workers' compensation parts apply to me?

Yes — the guide treats this as one of the two questions most buyers get wrong. It has you classify everyone who does work for you, then decide whether workers' compensation applies to you, your employees, and your 1099 contractors, and check the rules in each state you operate in. The goal is a conclusion you can defend rather than a guess.

Your actual exposures inventoried, the coverages that match them specified (general liability, professional, cyber, commercial auto, workers' comp, umbrella), limits and deductibles chosen deliberately, three quotes compared on exclusions rather than premium, and required certificates issued to clients and landlords.

Fby Finito HQEchipa Finito

Created last monthUpdated 2 weeks ago

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Who it's for

Owners of service businesses, contractors, and consultancies buying coverage for the first time or renewing on autopilot, and anyone whose client contract demands a certificate they do not understand.

About this playbook

This guide walks a first-time buyer through the whole insurance decision: what your business actually exposes, what the law requires, and which policy forms cover the rest. You will map every revenue stream and contract clause to a specific coverage, choose limits and deductibles against your own numbers, and get three quotes compared on exclusions and endorsements, not on premium alone. Along the way you will settle the two questions most buyers get wrong: occurrence versus claims-made liability, and whether workers' compensation applies to you, your employees, and your 1099 contractors. The result is a purchased policy you can defend, certificates issued to every client and landlord that demands one, and a renewal file that keeps you from drifting back into overpaying. It does not cover claims handling, life or health insurance for owners, or advice on a specific risk; it stays at specification and comparison.

What you'll do, step by stepFree preview

5 phases · 20 steps

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Phase 1: Inventory your exposures and contract obligations
4 steps
Phase 2: Determine your legal obligations and coverage forms
4 steps
Phase 3: Fix your specification before asking for quotes
3 steps
Phase 4: Get three quotes and compare them on coverage
4 steps
Phase 5: Buy, verify, and keep the policy current
5 steps

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Details

Estimated duration10 hours 45 min

Steps20

Estimated budgetUS$1,000–6,000 per year in premiums for a typical small service business

What you need first

A running business with an EIN, at least one client contract, lease, or other liability exposure, and access to the business's revenue and payroll figures. No insurance knowledge is assumed.