Baton Rouge is home to the headquarters of such companies as Lamar Advertising Company and Piccadilly Restaurants. It is also the location of several small, locally-owned businesses that are thriving in this vibrant Louisiana city. If you own a small company in the Baton Rouge area, you have likely invested a lot of time, money and effort into establishing it. You will want to protect your investment by securing a top-rate Baton Rouge, LA business insurance policy.
Use our independent agent matching system to find the best insurance plan in your area. You tell us what you’re looking for, and our technology will recommend the best agents for you. Any information you provide will be sent to only the agents you pick. We do not sell to third parties.
Small Businesses Based in Baton Rouge
- Total number of firms: 24,737
- Firms owned by women: 29.1%
- Firms owned by African-Americans: 30.4%
- Firms owned by Asian-Americans: 3.3%
Minority-owned businesses in Baton Rouge are on the rise. Many people in this capital city are finding niche markets for their various trades and several new privately-owned businesses are thriving.
Is Baton Rouge Commercial Insurance Necessary?
Louisiana businesses that have employees are required to carry insurance to cover workers compensation, disability insurance, and unemployment benefits. Companies that rely on the use of a business-owned vehicle, or fleet of vehicles, will need a commercial vehicle policy. However, when it comes to business insurance, this coverage is almost always optional. In some cases, if you have taken out a business loan or if you rent the space where your business is located, you may be required by your lender or landlord to have this coverage. Regardless, if you are the sole proprietor of a business that required you to make a large initial investment, or in which you have put in a lot of time and effort, having a commercial insurance policy is in your best interest.
Revenues Generated by Baton Rouge-Based Businesses
- Manufacturers’ shipments: $2.44 billion
- Merchant wholesaler sales: $5.41 billion
- Retail sales: $3.83 billion
- Retail sales per capita: $16,897
- Accommodation and food service sales: $7.17 million
Some new business owners in Baton Rouge believe that, because they set their business up as an LLC or a corporation, they are automatically protected against liability charges. However, these corporate business structures are designed merely as a way to protect the personal assets of business owners from any liability expenses that may be incurred against the company. The business itself remains vulnerable. Only a Baton Rouge business insurance policy can fully protect your commercial endeavor from liability charges as well as unexpected damages and monetary losses.
What Does Baton Rouge Business Insurance Cover?
Businesses can vary greatly by size, industry and the potential risks they face. Business insurance policies, therefore, offer a variety of different coverage options so that business owners are able to customize their insurance policies to meet their unique coverage needs. A typical Baton Rouge business insurance policy will offer the following types of coverage:
- Liability coverage: This insurance protects your business from costs associated with liability lawsuits. Some instances where you might find your business held liable for damages include product malfunctions, malpractice or negligence cases and slip-and-fall injuries that may occur at your place of business. Liability coverage also provides you with compensation for any court costs and legal fees associated with a covered event.
- Property coverage: This insurance protects your business from loss or damage to the building in which it is housed as well as any property, including products and equipment, kept inside. Covered damages include those caused by fire, falling objects, theft and vandalism. It also covers damages caused by most weather events, though some may require the purchase of a separate rider. Coverage for flood damage, for example, is rarely included so a separate Louisiana flood insurance policy will be necessary.
- Loss of income coverage: This insurance provides your business with a continuation of income if you are unable to remain for an extended period of time due to damages or losses caused by a covered event. During this downtime, loss of income coverage will provide your business with the income necessary to pay monthly expenses and employee salaries so that your company may stay afloat financially until it is able to reopen for business.
- Other coverage: There are several other coverage options available that can be tailored to meet each industry’s specific needs. These include such things as extra liability coverage for contractors who do work on clients’ property, additional coverage for very expensive and custom equipment, and fidelity insurance, which is necessary to protect your business from losses if an employee embezzles funds or performs other illegal activities while employed by you.
Find the Right Baton Rouge Business Insurance Policy
There are a number of different factors you will need to consider about your coverage needs before you start comparison-shopping commercial insurance policies. An independent agent in our network can help simplify the process. Because these agents have relationships with a variety of different insurance providers, they can save you time and money by quickly obtaining, for your review, several business insurance policies that meet your coverage needs. Insurance agents in our network can be found in more than 27,000 locations nationwide, and many have offices right here in Baton Rouge. It is therefore easy to set up an obligation-free meeting with an agent who is located close to your home or business.
Contact one of these agents today to get more information and to start comparing a variety of competitively-priced Baton Rouge commercial insurance quotes.