Georgia Business Insurance

From the Blue Ridge Mountains to downtown Atlanta to the Okefenokee Swamp, business in Georgia is taking off. Okay, maybe not right in the swamp, exactly, but nearby. All swamp-talk aside, if you’re looking to start a business in Georgia, it’s a good time to do so. Significant tax benefits and a growing economy offer an enticing welcome to small businesses, and the state’s varied industries provide plenty of opportunities.

Though Atlanta has the headquarters of multiple Fortune 500 companies – behemoths like The Home Depot, UPS, and a certain beverage company that produces the best-selling soft drink in the world – not all business in Georgia is big. In fact, nearly 940,000 small businesses call Georgia home, and they employ nearly 45 percent of the private-sector labor force.

Georgia acts as a hub for Southern commerce, which means the state is a good place to set up shop. But there are still risks involved with any business, no matter where it’s located (but especially if it’s located in a swamp). To protect your new enterprise, get small business insurance to help your business be a successful one. Life in the Peach State can be sweet, but it helps to plan ahead.

Keeping Premiums Low: Georgia Business Insurance Tips

  • Exclude yourself from your Workers' Compensation plan. Georgia allows sole proprietors to cover themselves under their Workers' Comp plan, but you can lower your premiums by only insuring your employees.
  • Choose a cash-value Property Insurance plan. If your gear can easily be replaced with used equipment, consider opting for a cash-value Property policy. This option comes with lower premiums and pays out what your covered items are worth at the time of the claim.
  • Carry Umbrella Liability Insurance. Increase your coverage without breaking the bank. Umbrella Insurance can extend your existing liability policies' premiums significantly for an affordable annual premium.

Georgia: Business Is Sweet in the Peach State

When you decide to set down roots in Georgia, the state has some considerable business incentives to offer. For example, the state's single-factor tax rate means that the already low corporate tax rate (6 percent) applies only to the portion of income earned inside the state. So if your business delivers most of its products and services outside the state, you'll pay very little in taxes. Plus, in all eight of the state’s major cities, the cost of living is lower than the national average, with Atlanta being the nation's second least expensive large city. You can read more about other business perks in's, "Competitive Incentives."

But like those in most southern, Atlantic states, Georgia-based businesses have to be prepared for potential hurricane damage and other property loss risks. Without proper risk management, even the best-run small business can run into financial woes. To keep your business strong, protect it with the right insurance policies, such as General Liability, Property, Professional Liability, Workers' Compensation, and Employment Practices Liability.

Build a Georgia-Based Business Insurance Plan You Can Count On

Insureon's expert agents can compile quotes for the following types of business insurance:

  • Business Owner's Policy. Also called a "BOP" or "Business Liability Insurance Package," this plan offers your business three invaluable coverages at a reduced rate: General Liability Insurance, Property Insurance, and Business Interruption Insurance. If your business is eligible for a BOP, you'll have financial protection when your business is sued for premises liability or property damage, losses or damage to your own property, and foregone income if your business has to close to deal with the aftermath of a covered Property claim.
  • Professional Liability Insurance. Also known as "Errors & Omissions Insurance," Professional Liability coverage steps in when your business is sued for its professional mistakes. For example, if you failed to complete your promised services, delivered negligent services, or made professional oversights, your client could sue you for the economic losses you caused. When that happens, this policy can cover legal defense fees, settlements or judgments, and other court costs.
  • Workers' Compensation Insurance. When your employees are injured at work, this coverage can help pay for their medical and disability expenses. Most states require employers to insure their employees with Workers' Compensation Insurance, but the laws vary depending on where you live. In Georgia, every employer who regularly employs three or more persons – minors, part-time, 1099, and W2 – must provide Workers' Compensation coverage. This count includes corporate officers and exempted LLC members. Learn more about Georgia's requirements in our article "Georgia Workers' Compensation Law Review."
  • Employment Practices Liability Insurance. Your employees could sue your business over sexual harassment; wrongful termination or demotion; slander or libel; or discrimination based on age, religion, gender, disability, or race. When that happens, EPLI can cover your business's legal costs, including attorney's fees, settlements or judgments, and other court-related expenses.

When you work with an insureon agent, we'll make sure your policies include only the coverages your business truly needs. No extras, no gaps.

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