Alabama was home to 386,661 small businesses in recent years. Daphne, AL is a prime spot for these companies to thrive in, thanks to a welcoming entrepreneurial community and loyal customer base. Although Alabama businesses have 764,207 employees, they still encountered $4,070,408 in losses — making Alabama the 27th highest state in the country for losses. You need protection against weather, negligence claims and property damage — regardless of how big or small, how new or experienced your Daphne business is.
Independent Insurance Agents can help you find the coverage you need at a price you want. Our agents are local and extremely familiar with the risks you face as an Alabama business owner. If you're looking for personalized customer service and a Daphne business insurance policy that gives you 360 degrees of protection, contact your local agent today.
If you purchase only one kind of protection for your business, look at liability coverage. This insurance is specifically designed to your business's needs and risks — safeguarding you against unwanted legal and medical costs that may come your way.
- General Liability: If a customer slips and falls on the way out the office door, you could see a lawsuit on your desk. According to a recent Travelers Business Risk Summary, 60% of small-business owners ranked medical cost inflation as their highest concern and over 30% said they felt the least prepared to handle this concern. Don't be overwhelmed with this foundational coverage — let an agent explain the details.
- Product Liability: A national study found that 71% of product liability awards and 53% of medical malpractice awards by the courts amounted to $1 million or more. A product that malfunctions and causes injury isn't your fault, but that doesn't mean you avoid all blame. If you sell, distribute or manufacture a product, consider adding product liability coverage to your Daphne commercial insurance policy.
- Professional Liability: Does your small business give advice to its clients? If so, you could face a negligence claim. Professional liability, or errors and omissions insurance, helps you tackle legal and defense costs in such a scenario. A reliable agent can tell you more if you're an architect, consultant or accountant.
Business Interruption Insurance for Daphne Businesses
Your Daphne business is essential to your livelihood — but it also impacts overall economic success. Alabama's gross state product increased by 0.8% — a whopping 1.4% less than the recent gross domestic product increase. If your company was forced to temporarily shut its doors due to a natural disaster, how would you make a profit? Business interruption insurance steps in to compensate you for the revenue you would normally be making so you can continue to pay employees and the bills.
Property Insurance for Daphne Businesses
There were 119 natural disasters to strike the U.S. in recent years. Only 61% of the damage was covered – not covered was $9.7 billion in damage. Alabama certainly sees its fair share of weather-related damage and risks. There have been 93 recorded natural disasters in AL, and the most common kind are Severe Storms. If your physical property and the items inside it are damaged, property insurance steps in. Let an agent explain why this coverage will help your Daphne business get back up and running in no time after a natural disaster.
Workers' Compensation for Daphne Businesses
Nationally, the average cost of workers' compensation coverage is $1.27 for every $100 in wages, or $612 per employee. It's a necessary price to pay if an employee is injured while on the job. Medical and legal costs can easily add up — but you'll be protected with workers' compensation insurance so your small business can stay financially stable.
Employee Coverages for Daphne Businesses
- Total recent spending on premiums in Alabama: $639,311
- 21st for highest premium spent in the country
Providing proper health and life insurance to your employees doesn't have to be complicated. Recently, the average annual cost of health care for small businesses was $5,754 for a single person plan and $13,477 for a family plan — 2% less than and 16% more than the national averages, respectively. When you talk to a reliable agent, you will understand your options and find the policies that work best for your specific situation.
Cyber Crime Insurance for Daphne Small Business
- 3,770 identity theft complaints in Alabama in recent years
- 22nd highest number of identity theft complaints in the country
- Only 22% of small businesses have a cyber or data breach response plan
Cyber breaches are increasing as our world becomes even more technological. Hackers want access to any kind of personally identifiable information your small business holds, which means you'll always be at risk. To be prepared for a data breach, partner up with an agent. Our local agents will find you an add-on policy that works for your unique business needs.
Find a Comprehensive Daphne Commercial Insurance Policy
Did you know that our independent insurance agents can get you numerous Daphne business insurance quotes from various companies? We aren't tied down to one company, which means we can show you options when it comes to policies and prices. We want your Daphne business to be fully protected when it comes to the unexpected and will use our expertise to find you something great.