SBA Hazard Insurance Requirements: What You Need, When You Need It, and How to Certify
Reading Time: 6 minutesKey Takeaways for SBA Borrowers Required by all SBA lenders: Every SBA 7(a) and 504 loan requires hazard insurance on the collateral property before disbursement What it covers: Physical damage to the building and business personal property from fire, wind, theft, and other named perils — essentially commercial property insurance Coverage amount: Must equal the […]
General Liability Insurance for Contractors: Policy Comparisons and Coverage Guide
Reading Time: 6 minutesGeneral liability insurance for contractors costs most operations between $700 and $3,000 per year for low-risk trades, while high-risk trades like roofing, demolition, and excavation pay significantly more based on payroll, project type, and claims history. For a comparison of digital insurance platforms, see our Otto Insurance review. Companies with commercial vehicles should review our […]