The Cost of Small Business Insurance

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Complete Video Transcript

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this is John Pelley finance representative talking day about the
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cost
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a small business insurance its
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small business insurance can often be very expensive that’s why many
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small businesses either choose not to go with any insurance
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or they choose to only insure
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the top-level managers or employees some providing benefits
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for everyone in a small small business or organization
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is often quite expensive
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if you’re talking about hell benefits for a small organization and say five to
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10 people
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you may be talking about three hundred dollars per more
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per person for some certain ppl type
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health plans if you’re talking about HMOs such a little bit more
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affordable such as Kaiser you may be talking about 150 to 200 dollars per
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person based on
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the coverage is that are provided in the plan now for talking about providing
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comprehensive benefits
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I’m they’re not only include health that include things like dental
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vision disability long-term care
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life insurance and cetera these type of comprehensive benefits packages can be
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very very expensive
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you may even be looking at upwards of a thousand dollars or more months
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depending on amounts and types of coverage there
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offered however it is very important
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and a lot of organizations to at least provide
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some sorta disability coverage
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or at least health and health insurance coverage for special your top level
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employees
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and the reason I say this is because yeah
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a key person in the business is unable to work
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basically the whole business is gonna lose a lot of its functionality
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its ability to make money so it’s going to be important for the organization to
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be able to replace them poorly
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and the same time all employees often poignant some replacement for the income
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and then turning now additional times
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business insurance that small businesses might look at
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be like liability coverages to make sure that if someone’s injured
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and their business or
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thing have any wrongdoings that they participate and
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that they’re covered they’re covered both from lawsuits
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as well as personal injury claims that can arise
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from someone being injured on their facilities
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or and a business many businesses are also
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required to have workers compensation insurance
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so this means if you’re in injured on the job
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that you will be compensated through that workers compensation insurance is
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something that has spanned growing both
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and size and cost so
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especially in states like California you can see
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workers compensation insurance becoming quite a significant portion
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what someone these companies pay in terms of their
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overall insurance and benefits packages
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now reasoning for this is many people have abused the system there’s often
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times while claims
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their main some watcher false and smoke which
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are and then also the various dangers
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that are associated with an individual
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profession or company such as a construction company
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so this is Ben John Pelley financial representative
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talking to you today about small business insurance

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