Top 6 Factors that Affect Professional Liability Insurance Cost
When figuring out the cost of professional liability insurance , it’s always best to read the fine print. It’s likely you’re fully aware of several factors that go into determining your premium but, have you considered the factors that affect your limits and deductibles? After all, as we all know, there’s often more to insurance costs than just the premium. Today, we’ll be covering the top 6 factors that affect your professional liability insurance costs. 1. Hours Worked Most of us work the standard 40 hours a week and earn a base income calculated hourly. But, for some businesses, part-time employees play a big role too. This is a bit of a wild card because some insurance programs offer part-time policies while others don’t, and this will be reflected in the cost. We recommend you check out small business insurance quotes to get an idea of what this could cost you. If a general policy is available for part-time employees, the premium is based on the locat...