State laws, geographical risks, and other specifics of your location have an effect on small business insurance. Learn the requirements in your state and compare insurance quotes online for free with Insureon.
Most states require businesses with even one employee to carry workers’ compensation insurance, which covers expenses associated with occupational injuries. Commercial auto insurance requirements also vary by state.
Even within the same state, property values can vary tremendously. If your real estate is valued at a higher amount, you may need higher limits on property insurance to cover it. It may also be difficult to insure property in areas prone to fires, earthquakes, flooding, and other localized risks.
Small businesses in rural areas don't face the same level of risk as small businesses in urban areas. A lower crime rate could result in savings on property insurance, which protects against theft and vandalism. Less foot traffic also means potential savings on general liability insurance, which protects against customer lawsuits. In contrast, a small business owner in a major city might pay more for these policies.