Find The Right Business and Workers Compensation Insurance Policy
Our licensed agents will help you find the best coverage at the most affordable price.
Do I Need Business Insurance?
If you plan on running a successful business, then you should absolutely plan on getting business insurance. Without this coverage, you may end up having to pay out-of-pocket for property damage, accidents, or lawsuits from unhappy clients. Needless to say, all of these very-real possibilities can be devastating for both your business and your personal finances if you don’t have business insurance.
Depending on what you do, some clients won’t want to work with you unless you are insured, especially if you’re in a business where you work on a client’s property and are at risk for causing damage.
In some cases, your state may legally require you to carry some type of business insurance coverage, like workers compensation insurance or general liability insurance.
What Does Business Insurance Cover?
Business insurance is a range of coverages that a business owner can buy to protect against losses and liabilities. From general liability coverage and workers compensation to professional liability policies, this coverage is designed with one goal in mind: to protect you while you focus on running and growing your business. Without this crucial protection, you could be leaving your business vulnerable to unexpected costs associated with accidents, property damage, mistakes, and injuries. If the worst happens, those costs could be catastrophic to your dream of running your own business.
Consider this: The most common claim — burglary and theft — averages about $8,000. For most small businesses, that $8,000 could be significant enough to put them out of business…Unless they have insurance coverage.
How Much Does Business INsurance cost?
Business Insurance Rates
If you’re just starting or already running your business, you’ve probably thought about whether business insurance is worth the investment or not. There’s no need to stress; insurance policies can be a lot more affordable than you might think.
Here are the biggest factors insurance providers take into consideration to calculate the cost of your plan:
- Your business’s trade/specialties
- The services you provide
- Where your business is located
- How many employees you have
- Your estimated revenue
Workers Compensation Insurance
If you have any employees – even if they’re part-time or temporary – your state may legally require you to have this coverage. A workers comp policy protects you and your business if your employees get hurt, injured, or sick while working on the job. And it’s not just to fulfill a legal requirement. In many states, proof is required if you want to be a licensed contractor with employees.
Carrying workers compensation can provide much-needed security, as having this coverage prevents an employee from suing your business for workplace injuries. Workers compensation insurance can cover:
- Medical payments
- Lost wages
- Rehabilitation expenses
- Death benefits
