Business Insurance for
Arizona Small Business Insurance
If you’re a small business owner in Arizona, you’re one in about 511,828 here in this state. And if you have any employees, you have something in common with 98,256 other businesses. In fact, in 2012, small businesses in Arizona employed more than two-fifths of the private workforce here. (Source: SUSB). Whether or not you’re in one of the top industries in this state – such as professional, scientific, and technical services or real estate and leasing – you need Arizona small business insurance coverage. Here’s why.
Arizona Small Businesses Need The Following Insurance
Protect your business (GL): One of the best ways to protect your business is by making sure you have general liability. This is especially crucial if customers come to your business often, because there is always a chance they will get hurt while visiting your property. When you have Arizona small business insurance with general liability coverage, you can rest assured that your policy will pay for the medical care of anyone who is hurt on your property. It will also cover any repairs that might be needed if someone’s personal property is damaged at your business. General liability can even pay for your legal defense if you are accused of slander, libel, or copyright infringement.
Insure Your Property (BPP): When you have Arizona small business insurance, it makes sense to ensure your business property is protected. With this coverage, you can get the repairs and replacements you need when your place of business is damaged or your inventory is lost in some way. This means that whether there is a fire or your business is robbed, you will not have to pay for everything out of pocket. This part of your Arizona small business insurance policy also covers common incidents, such as sewer backup or data loss.
Employee Protection (WC): Small businesses in Arizona employ about 955,194 workers. Industries like construction, health care, and accommodation and food services tend to employ the highest percentage in this state. Whether your small business is in these or other fields, you need workers compensation if you even just employ a few people. This is because you and your employees deserve to know that the medical expenses will be covered if they are ever injured at work. They may even get their missed wages paid for by workers compensation, so it’s definitely worth it to have this coverage as part of your Arizona small business insurance.
Umbrella/Excess Liability: In most cases, your general liability policy should be sufficient to cover the medical costs of anyone who is injured on your business property. But once in a while, the expenses are so great that the coverage is exhausted, leaving the policyholder with a lot of money to pay after insurance has already paid out. This is why you need excess liability, which will cover any costs that go beyond the typical general liability limits.
Cyber Crime Liability: Any small business in Arizona that uses technology – which is just about all of them – could be a target for cyber crime. If you want to protect your business from this increasingly common problem, add cyber crime liability to your Arizona small business insurance policy.