Tucson Business Insurance

Your Complete Guide to Tucson, AZ Business Insurance

(Find the best insurance products to cover your small business.)

Small and medium-sized businesses in Tucson provide necessary services and products to the people who live in the area. They provide a great deal of support to the local economy as well. When there's severe weather or an event that causes damage or problems, business insurance helps keep these companies afloat until they can recover. 

A well thought out business insurance policy takes time and effort. With the help of a Tucson independent insurance agent, you can get the insurance coverage you need for your business at a great rate. 

Why Do Businesses in Tucson, Arizona Need Liability Insurance?

Every Tucson business needs a business liability insurance package. This coverage provides funds to cover a business's legal fees and court costs if they are sued for a covered event. Costs associated with this type of lawsuit can bankrupt a business without the right types of liability insurance. 

Some liability insurance policies have very specific uses. While you may not need every type of insurance, it's wise to understand your options. 

  • Premises liability insurance: This policy covers costs associated with third-party injuries, property damage, and illness that happens on your property. 
  • Product liability insurance: This coverage handles the cost of third-party injuries, property damage, and illness that happens as a result of a problem or defect with something your business provides, sells or promotes. 
  • Employment practices liability insurance: This policy covers costs related to lawsuits involving illegal employment practices like harassment, wrongful termination, breach of contract, and discrimination.
  • Cyber liability insurance: If hackers gain access to your computers, they could expose sensitive customer information, including Social Security numbers. This coverage helps you and your customers recover some financial losses as a result of a cyber breach.
  • Pollution liability insurance: This policy helps pay for clean-up and damages after an accident leading to pollution of the ground, air, or water. If your business is at fault, you'll be responsible for paying these costs, which can be prohibitively expensive. 
  • Commercial vehicle liability insurance: This insurance is required in Arizona if your business uses or owns vehicles. This policy can cover damages if you or one of your employees causes an accident or damages someone else's property while driving during the course of business. 

You can learn more about your commercial liability coverage choices by talking with an independent insurance agent in Tucson. 

What Insurance Products Cover Your Tucson Business Property?

Businesses in Tucson, AZ may experience loss or damage to their property due to hurricanes, severe weather such as hail, fires, or property crimes.

Commercial property insurance is a standard part of a business insurance policy and covers your commercially owned property, including your computer equipment, furniture, inventory, and supplies. 

You may benefit from adding some specialized insurance policies, as well. 

  • Inland marine insurance:  This policy covers your business property if it is in transit or stored away from your business's main location. 
  • Boiler & machinery insurance: This insurance covers the replacement or repair of your furnace or other machinery. It also covers losses due to machine malfunctions. 
  • Bailee's insurance: This covers your customer's property while it is in your possession. 

Commercial property insurance doesn't cover flood damage, even if the damage is the result of a hurricane. Commercial flood insurance is an important addition to many insurance policies since flash flooding can strike at any time. 

Your agent can help you choose coverage levels that will allow you to replace or rebuild your business after a variety of covered incidents. 

Why Buy Business Interruption Insurance in Tucson, AZ?

Major disasters like fires and tornadoes can damage your business to the point that you have to shut down until you can repair or rebuild. Tucson and southern Arizona have seen their share of disasters. The Aspen Fire of 2003 on Mount Lemmon burned 333 structures, destroying the town of Summerhaven. Even though Tucson typically has good weather, severe wind, winter storms, earthquakes, and floods are listed on the City of Tucson's list of known hazards. 

After a severe weather event or fire, it may take weeks or even months to rebuild and reopen your business. This type of closure can be financially difficult for a small business. Business interruption insurance helps solve the problem by providing income until you can resume normal day-to-day operations. 

With this type of insurance, you can more easily afford to pay regular monthly bills as well as employee salaries until you are able to start producing revenue again. 

Do Businesses in Tucson Need Workers’ Compensation Insurance?

Tucson businesses must provide a safe workplace for employees. Even so, accidents happen and workers are sometimes injured. If there's an accident at your business, you must cover your employees' financial loss. Workers' compensation insurance helps provide this essential coverage. 

Arizona employers must provide workers' compensation insurance to their employees. Under Arizona's "no-fault" system, an injured worker gets benefits to help pay for their injuries, no matter who is at fault. If their illness or injury is job-related, they may get temporary income replacement and medical benefits. 

Premiums for workers' compensation insurance depends on the types of job your employee performs and how likely they are to be injured. 

A Tucson agent can help you understand how Arizona's laws apply to your business and how much you may pay for workers' compensation insurance

What about Insurance Products for Employee Benefits Packages in Tucson, AZ?

Healthcare is expensive for small businesses, but it also offers an important incentive for current and future employees. 

You have many options when it comes to health insurance and life insurance for your employees. It's important to make the right decision, but the information can seem overwhelming. Your agent can walk you through your options and help you find a health plan that benefits your employees and is within your business's budget.

Why Work with an Independent Insurance Agent in Tucson, AZ?

Your business has certain risks and needs specific to your industry, location, and situation. Business owners should expect a fully customized insurance solution that will protect them when facing common perils. Your independent insurance agent can help simplify the process of designing a great insurance package. 

Find an insurance agent in Tucson to learn more about your options and get started creating your ideal business insurance policy package. 

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https://www.census.gov/quickfacts

https://www.tucsonaz.gov/em/our-hazards

https://www.fema.gov/disasters

http://www.city-data.com

https://www.azica.gov/sites/default/files/migrated_pdf/Claims_FAQs_WorkersCompensation.pdf