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Insurance Companies For Small Business Near Me
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Best Insurance Companies For Small Businesses (2023)
Owning a business can be very rewarding personally and professionally, but it also comes with financial risk. Business owners must worry about protecting their business assets (including inventory, commercial space, and equipment), protecting against liability claims, and making sure their businesses can survive disruptions. Purchasing small business insurance can help protect your business against liability claims and outside damage.
Although the market for insurance providers is crowded, the best insurance companies for business make it easy to find the right plan for your needs by offering coverage types, discounts and options with customer service tailored to the needs of small business owners.
Every business has different insurance needs. Your industry, business structure and the assets to be insured will determine the commercial insurance you choose.
To meet the needs of small business owners, business insurance companies offer business insurance with a wide range of coverage types and plan structures.
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General liability insurance covers claims made against your business by third parties, such as customers or other businesses. This can protect business owners from accidents on commercial property that cause bodily injury or property damage. General liability insurance can also protect you against other people’s personal or advertising injury claims, such as copyright infringement or damage to reputation. This type of insurance is sometimes called commercial liability insurance or business liability insurance.
Commercial property insurance, also known as business property insurance, covers damage to your physical property (such as offices or storefronts) and usually also covers damage, theft or loss of equipment and supplies within the property, such as computers, office equipment, refrigerators. . etc.
Business interruption insurance (also known as business income insurance) can replace a small business owner’s lost income in the event that a coverage incident, common theft, or natural disaster requires a temporary or complete shutdown of their business.
Business auto insurance (sometimes called commercial vehicle insurance or commercial auto insurance) covers damage to commercial vehicles and liability for accidents involving such vehicles. Most states require businesses with commercial vehicles to carry this type of insurance. Commercial vehicles are vehicles used specifically for business purposes, such as delivery trucks, food trucks, or delivery trucks.
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Professional liability insurance (also known as errors and omissions insurance) covers liability for damages caused by negligence in the performance of professional services. If you make a mistake in your business and your client sues you for damages because of that mistake, your professional indemnity insurance will protect you from those costs.
Workers’ compensation insurance covers the medical and rehabilitation costs of workers injured on the job. It can also cover part of the lost wages of the affected employee, as well as a death benefit for the employee’s family. Many states require owners of businesses with employees to carry this type of coverage.
A business owner’s policy is an insurance package that combines multiple types of business insurance (typically commercial property insurance, business income insurance, and general liability insurance) into one insurance package, usually at a discounted price. Business owner policies are generally only available to small and medium-sized businesses in lower-risk industries, such as food service or retail.
Insurance companies also offer several additional types of coverage (such as cyber liability insurance and commercial umbrella insurance) as well as industry-specific policies designed to meet the needs of businesses in industries such as retail, manufacturing, food service, and professional services. .
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There are many insurance companies in the market. These six business insurance companies offer strong customer service and a wide range of coverage types, making them a popular choice for small business owners.
Progressive is the largest commercial vehicle insurer in the United States, which can make it a good choice for business owners who want to bundle commercial vehicle insurance with other types of business insurance.
With the exception of commercial auto insurance, Progressive’s business insurance plans are offered through partnerships with third-party insurance companies.
State Farm is a large insurance network with more than 19,000 agents nationwide. Because State Farm agents are independent business owners, State Farm offers business customers a personal connection with a small business owner. This can also manifest itself in varying customer service quality – your relationship with your agent determines your individual experience.
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A public farm owner’s policy typically includes general liability insurance, commercial property insurance, business interruption insurance, and equipment breakdown coverage.
Hartford is a Connecticut-based major investment and insurance company that offers business, renters, home and auto insurance. The Hartford, in partnership with AARP, also provides discounted home and auto insurance for those 50 and older.
Founded in 1810, The Hartford operates as an insurance company and is said to have provided disability insurance to Babe Ruth and home insurance to Abraham Lincoln. In 2021, The Hartford was the 13th largest property and casualty insurance company in the United States.
Hartford’s business insurance offering includes a wide range of insurance types and business owner policies with customization options:
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The Hartford Business Owner Policy stands out for its flexibility and customization options. A typical company’s balance sheet typically includes business interruption insurance, general liability insurance, and commercial property coverage. The Hartford offers BOP policy add-ons, including cyber liability insurance and professional indemnity insurance. Unlike most insurance companies, it allows business owners to add commercial auto insurance and workers compensation insurance to their balance sheet.
Nationwide Mutual Insurance Company is a group of financial services and insurance companies headquartered in Columbus, Ohio. Nationwide offers a full range of business insurance coverage, as well as industry-specific coverage in industries such as construction, commercial real estate, manufacturing and food processing.
National business owner policies typically include general liability insurance, business income insurance, commercial property insurance, and equipment breakdown insurance. Nationwide also offers industry-specific balance of payments for industries such as retail, wholesale, professional services, and more.
Based in Bermuda, Hiscox is an insurance company that offers policies online and through independent Hiscox agents. Hiscox specializes in general liability insurance, cyber liability insurance and owner policies for professional services businesses. Other types of insurance are offered through partner agencies.
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There are many different types of business insurance. Business insurers generally offer the following types of policies:
Most businesses need some type of insurance, as many states require companies to carry commercial auto or workers’ compensation insurance and pay into state unemployment insurance.
To choose the right insurance plan for your business, consider your specific risks, assets, and ability to withstand the financial consequences of an accident or lawsuit. Then get multiple quotes and compare coverages, premiums, and exclusions.
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Whether it’s auto, home and life insurance, or basic ATV or RV insurance, State Farm has insurance to suit your needs. Footnote 1. New auto insurance customers report savings of nearly $50 a month Footnote 2. Get a quote online or visit a State Farm agent near you in Houston today!
When you’re always on the go, life can be chaotic and adventurous at the same time! State Farm insurance in Houston, TX can help you stay on the road. Coverage options that are useful for many drivers include collision, comprehensive, liability, uninsured or underinsured motorist, and medical payments to name a few. Your final coverage requirement depends on a number of factors, including the type of vehicle insured and your budget. The State Economy has an opportunity.
