Small Business Insurance by State

Where you plant your roots is central to your small business’s identity. Perhaps you’ve opened shop in New York City, and the fast-paced nature of your operations reflects the heartbeat of the city. Maybe you run a small company in Nashville where bluegrass tunes play softly over your lobby speakers. No matter where you live, your locale has influenced your business in many tangible ways – from the culture you embrace to the people you serve.

You may be surprised to know that your area affects your small business insurance needs, too. Luckily, insureon can help connect you with the policies that protect your business. Check out your state in the guide below for more information about key insurance considerations for your area.

How Your Location Impacts Your Small Business Insurance Needs

Small business insurance safeguards you from the high cost of certain risks, such as lawsuits and property loss or damage. The amount and kinds of business insurance you need depend on several factors, including your industry, the size of your business, whether or not you own commercial property, and where you’re located.

Just as your city or state influences your business’s market and personality, it also dictates certain risk exposures. For example, if your business is in California, you may need to think about coverage for earthquake damage to your property. Meanwhile, in Kansas, you may consider investing in Property Insurance that has plenty of windstorm coverage.

Here are some other ways your location affects your small business insurance needs:

  1. Property values differ depending on where your business is. Even within the same state, different areas significantly impact the value of your real estate. This affects your Property Insurance, which shields your business from the high cost of loss when an unexpected disaster hits. The more valuable your property, the more coverage you may need.
  2. Different areas of the country have different risks. If your business is located in a rural area, you may not need as much protection against theft or vandalism – two incidents that Property Insurance covers. Similarly, if you don’t get a lot of foot-traffic through your doors, you may have less premises liability exposure (i.e., legal responsibility for others getting hurt on your property) – a risk General Liability Insurance handles. By contrast, a shop located in a tourist-heavy area may need to invest more in both these policies.
  3. States laws may require you to carry certain insurance coverages. For example, most state laws require employers with even one employee to have adequate Workers’ Compensation Insurance, which covers the expenses associated with employees’ occupational injuries. And medical professionals may be required to carry a certain amount of Malpractice Insurance (also called Professional Liability Insurance).

In short, there are plenty of nuances to mull over when choosing a business protection plan. That’s why it’s essential to enlist the help of a qualified insurance agent who not only knows your industry, but also your geographic area.

Insureon can help. When you’re ready to find insurance for your small business, fill out an online insurance application. We’ll pair you with one of our small business insurance experts who will help you secure the financial protection your startup needs to thrive, no matter where it’s located.

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