Alabama was home to 386,661 small businesses in previous years. With 764,207 employees, these businesses had $4,070,408 in losses — making Alabama the 27th highest state in the country for losses. Mobile, AL may be a metropolis area where small businesses thrive, but that doesn't mean these hard-working business owners are without risk. Whether you just opened up shop or have been in business for decades, you need and deserve a business insurance policy that works for you.
Independent Insurance Agents are extremely familiar with the hazards your small business faces and have experience providing businesses with comprehensive, personalized Mobile business insurance plans. If a tornado, negligence claim or cyber attack comes your way, your bottom line will be safe and sound. A simple slip and fall in your office can bring unwanted legal costs, so why not protect your business with the most basic forms of insurance. Liability coverages are tailored to your unique company and can save you from paying millions of dollars in legal and medical bills.
- General Liability: The recent Travelers Business Risk Summary found that 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 let a small incident bring financial risk to your Mobile business. Let an agent explain why general liability insurance is essential to your business' success.
- Product Liability: According to a national study, 71% of product liability awards and 53% of medical malpractice awards by the courts amounted to $1 million or more. If a product that you sell, produce or distribute malfunctions and causes an injury, your small business could be held liable, which is why you should protect yourself with product liability coverage.
- Professional Liability: Also known as errors and omissions, this insurance protects professionals who regularly give advice to their clients. If you're an architect, consultant, accountant or adviser you need this coverage. It's easy to add it to your existing coverage when you partner with an independent insurance agent.
Business Interruption Insurance for Businesses
Alabama's gross state product increased by 0.8% — a whopping 1.4% less than the increase in the recent gross domestic product. Your Mobile small business greatly contributes to the overall economic success of both the state and nation, so you can't afford to be shut down for an extended period of time without warning. If a natural disaster or unsafe situation forces you to close your doors, business interruption insurance steps in and pays you for repairs or rebuilding costs.
Property Insurance for Mobile Small Businesses
There were 119 natural disasters to strike the U.S. in recent years. Of that damage, only 61% was covered. Not covered was $9.7 billion in losses. In Alabama, Mother Nature can bring relentless storms and tornadoes that can cause property damage from high winds, strong rains and fallen trees. Stay ahead of the game with a Mobile comprehensive commercial insurance policy that compensates you for necessary repairs so you can get your business back up and running in no time.
Workers' Compensation for Mobile Businesses
If an employee is injured while on the job or suffers from an illness related to work, you could be left paying for legal or medical fees. Nationally, the average cost of workers' compensation coverage is $1.27 for every $100 in wages, or $612 per employee. It's a small cost for the repercussions you could face after an unfortunate incident. Let a reliable agent walk you through the details and help you find the best workers' comp policy for your unique Mobile business.
Employee Coverages for Small Businesses
- Total recent spending on premiums in Alabama: $639,311
- 21st for highest premiums spent in the country
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% more than and 16% less than the national averages, respectively. Finding great health and life insurance for your employees and their families doesn't have to be expensive or complicated when you partner with an agent. Our agents can help you navigate the confusing terrain and find something that works for all parties involved.
Cyber Crime Insurance for Mobile 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. If a hacker gets into your data and accesses personally identifiable information, how would you handle the situation? In today's increasingly technological world, cyber crime insurance is a necessary part of your business protection strategy. Talk to an agent about your options so you and your clients remain safe.
Find a Comprehensive Mobile Commercial Insurance Policy
You can't deny that your Mobile business faces a number of risks. From weather to burglaries to cyber crime, your company can become financially devastated in a matter of minutes. Our independent insurance agents are here to help you find a comprehensive and affordable Mobile business insurance policy that meets your needs and gives you layers and layers of protection.