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InsuranceBee (www.insurancebee.com) provides coverage to freelancers and independent consulting firms.

Since traditional brokers and business insurance providers don’t understand the unique needs of freelancers or independent consulting agencies, InsuranceBee offers them tailored services. Freelancing professionals can get quick and convenient coverage at quite flexible and affordable rates here.

Small consultancies, independent consultants, and others can utilize InsuranceBee’s unique services to protect their business from frivolous lawsuits. This blog is a detailed review of the services provided by InsuranceBee.

Quick Overview

InsuranceBee emerged in 2010 (14 years ago). The founders wanted to help small business owners get liability insurance without hassle. Acquiring liability insurance used to be a very painstakingly difficult process before InsuranceBee went public with its services.

Now, InsuranceBee offers specialized insurance services with the unique needs of freelance industry veterans in mind. Independent contractors and small consulting firms can utilize the services of InsuranceBee when traditional insurance brokers and insurance providers fail to consider their unique requirements. They offer wide-ranging services, such as:

• Making a claim
• Changing your coverage
• Getting new  policy documents
• Changing company name or address
• Adding extra insureds or certificate holders

Moreover, they have customer service representatives available to respond to your queries from Monday to Friday (9 AM to 5 PM). Offering customized coverage, InsuranceBee offers you zero-obligation, charge-free quotes, along with services by local, licensed agents. You can also benefit from your Knowledge Hub, which basically has blogs published on its website to educate and empower its policyholders.

Company Snapshot

InsuranceBee provides its unique services in all but 11 states. The states where you cannot avail of InsuranceBee’s services include the following:

• Alaska
• Hawaii
• Montana
• Wyoming
• North Dakota
• South Dakota
• Kentucky
• West Virginia
• Delaware
• Vermont
• Maine

Contact Information

If you want to get in touch with InsuranceBee, here’s their contact information:

• Website: www.insurancebee.com
• Email: contactus@insurancebee.com
• Fax: 1.888.217.5785
• Phone: 978.344.4215
• Address: InsuranceBee Inc, 2 Mill and Main Place, Suite 425, Maynard, MA, 01754

You can reach them anytime between 9 in the morning and 5 in the evening (ET) 5 days of the week. They’re not available on weekends, but you can still use their offline services.

Reviews & Ratings

InsuranceBee isn’t BBB-accredited; however, this professional liability insurance provider has been rated positively by other platforms, such as:

• Feefoo: 4.9/5 based on 2,200+ reviews

As per the most recent online reviews, customers have appreciated InsuranceBee’s ease of use, communication, affordability, quick response time, personal touch, customer service, & very efficient/streamlined process.

Types of Business Insurance Provided

InsuranceBee provides different insurance types tailored to your company’s unique needs. Here are 7 different insurance policies they offer.

1.   Professional Liability

It includes errors and omissions (E&O) reports, such as mistakes, misunderstandings, client complaints, and other mishaps caused by communication blocks.

2.   General Liability

This type includes personal injury and property damage.

3.   Business Owners’ Policy (BOP)

A BOP policy includes general liability and property insurance.

4.   Cyber Liability

If your business is vulnerable to hacks, data breaches, and other digital crimes, then you need this type of insurance protection.

5.   Workers’ Compensation

This one includes the lack of productivity caused by employee injuries that happen at work. It also covers lawsuits filed by wounded workers.

6.   Management Liability

This type includes fiduciary, employment practices liability, and D&O, among others.

7.   Commercial Bonds

These bonds protect your clients and your industry reputation.

Industries Served

InsuranceBee covers more than a hundred industries ranging from bedding stores, dance therapy studios, financial planning services, home health aides, ice cream parlors, and maid services to notary services, pet grooming services, tailors, speech therapy practices, yoga or pilates studios, and vocational schools.

Some major industries covered by InsuranceBee include the following:

• Artisan contractors
• Caregivers
• Cleaning businesses
• Consultants
• Handyman
• Insurance agents
• Janitorial businesses
• Landscaping business
• Lawn care businesses
• Mobile food vendors
• Property preservation
• Real estate agents

Eligibility Criteria

InsuranceBee doesn’t clarify their exact eligibility requirements. However, based on the kind of services they provide and after reviewing their entire website, this is what we can tell you about their insurance application approval criteria:

• Applicants must operate in a professional capacity as freelancers, small business owners, or independent contractors.
• Your business needs to be legally registered and compliant with local regulations. In this context, you must have the necessary permits or licenses relevant to your niche.
• You should have specific insurance that aligns with the type of coverage offered by InsuranceBee, such as professional liability or general liability insurance.
• In some coverage options, you have to demonstrate a particular level of operational history or experience in your industry.

Cost & Prices

InsuranceBee hasn’t openly specified the cost of their services. The exact details regarding their cost & prices will be discovered upon calling their number to get a quote. However, we do have information regarding how much their errors & omissions insurance services cost.

InsuranceBee’s errors & omissions policies start at $270. Typically, you can get an annual premium of $400 for a million-dollar coverage. It proves that InsuranceBee’s services tend to be relatively moderate, especially when many small businesses are paying more than $700 as an annual premium for similar services.

Also, InsuranceBee lets you pay this cost over four quarterly installments.

FAQs – Insurance Bee

Can I make changes to my policy after taking it out?

Yes, you can change your coverage limits and deductibles. However, changing your address will mean that the program requirements may change as well.

Can I cancel my InsuranceBee policy?

Yes, canceling your InsuranceBee policy is easy. It takes one phone call to let them know that you’re canceling your policy. After confirmation, your policy is canceled, and you pay for the coverage up until the day when you apply for cancellation.

Can I take out a policy for my business overseas?

No, InsuranceBee requires that your business is located in a state where they’re licensed to write coverage. If your business is UK-based, you should contact their sister company, PolicyBee, for legal assistance.

Can I, an insurance agent, apply on a client’s behalf?

Yes, you can sign up as InsuranceBee’s trusted wholesaler and earn commissions on every policy sold. As a wholesaler, you can:

• Quote for your client
• Bind your customer
• Send policy documents