How Much Coverage Do You Need?
Step 2: Coverage
The next step in purchasing insurance is determining how much you need. While cost is a factor, it is vital that you pay for a policy that includes the right level of coverage and coverage limits.
While every business is different, and you may need to add insurance as you grow, below is a basic policy for coverage of soap, cosmetic and candle makers.
|General Liability||$ 1,000,000||Aggregate|
|Product/Products Completed Liability||$ 1,000,000||Aggregate|
|Personal and Advertising Injury||$ 1,000,000|
|Damage to Premises Rented to You||$ 300,000|
|Medical Expenses||$ 5,000|
|Business Personal Property/Inland Marine||$ 5,000|