Business Plan Estimates
How much does liability insurance and unemployment insurance cost for a small business?
Considering opening a parking service company as an S Corporation with two partners. First year revenues should be $100K, should have no more than 2 employees. Wanted to put insurance estimates into my business plan. Thanks for the help
Well, a parking service will be rated like a valet service. Unemployment tax is the smallest part, probably about 3% of payroll. Workers comp, will probably run you around 10% of payroll. The liabiltiy insurance, including damage to customer cars, is probably going to run you close to $5,000.
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