When running a webmaster business be it web development, graphic design or seo, capital should be allocated to business insurance coverage. Interruption of business, property, accidents, commercial vehicle liability or workers’ compensation can all lead to unexpected expense. Budgeting for business insurance will depend on size of business, industry and applicability.
Cost-benefit ratio of a policy’s premium structure can be estimated in analysis of gross receipts or estimated payroll depending on type of insurance. For instance, workers’ compensation premium rates will be based on payroll, whereas property and business interruption are calculated according to property size, location, and title of ownership. Business insurance premiums are tax deductible.
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