Popular Questions About Massachusetts Business Insurance

Last year, small businesses in Massachusetts made $380 billion. If you don't have business insurance, claims have to be paid out of pocket, causing your business's revenue to take a major hit.

40% of small businesses are likely to experience a property or general liability claim in the next 10 years. Here are some things these companies have been using their insurance on:

  • Theft Or Burglary: Average Cost Per Claim - $8,000
  • Water Damage & Freezing Pipes: Average Cost Per Claim - $17,000
  • Wind & Hail Damage: Average Cost Per Claim - $26,000
  • Fire Damage: Average Cost Per Claim - $35,000
  • Customer Slip & Fall: Average Cost Per Claim - $20,000

Massachusetts business insurance will pay for damage, safeguarding your business revenue.

Here’s what a standard business insurance policy should do:

Pay For Damage To Your Building

  • Example: A tree falls on your office building.

Pay For Damage To Your Business Property

  • Example: A fire destroys all your computers.

Pay For Damage To Someone Else’s Property

  • Example: A contractor does a poor job of installing a cabinet, resulting in its falling and breaking homeowner's kitchenware.

Pay For Someone Else’s Medical Bills

  • Example: A customer slips and falls on your recently mopped floor and breaks an arm.

Pay For Accidents in Company Vehicles

  • Example: Your salesperson rear-ends someone while driving to an appointment.

Pay For Employee Injuries & Compensation

  • Example: An employee falls off a ladder at work and can’t work for two weeks.

Sometimes, your business will need additional coverages to protect against unique risks. The best way to make sure you're properly insured is to work with an experienced independent insurance agent who specializes in your field.

Massachusetts business owners are not required to buy business insurance, but some aspects of coverage are necessary. For example, you will need workers' compensation insurance if you hire employees and you will need commercial car insurance for all company-owned vehicles. Talk to a local agent to get more information about the specific coverages that are required in your city.

It primarily depends on how risky your business is. The riskier your business is, the higher your insurance will be. Here are two examples.

  •  A sole proprietor who owns a garment hemming business: $260 per year
  •  A commercial landscaper with five employees who operate heavy machinery: $22,700 per year

Commercial insurance premiums are based on several factors, including your liability risks, the property crime rates in your area and the amount of coverage you want. 

Premiums can also vary based on industry, so consult with an experienced agent to find out what kind of coverage is right for your business.

It’s usually wise to work with an independent agent in Massachusetts since they have access to multiple insurance companies. Sometimes it’s difficult to find an insurance company who will cover your business.

  • There are 1,536 independent agents in Massachusetts who are ready to help.
  • Last year our agents helped 3,541 people.

An independent insurance agent compares policies from multiple companies to find the best coverage for your needs.

acadia insurance
cna insurance
the main street america group
central insurnace companies

How does business insurance work?

Find the Best Insurance in Your City

National Business Insurance Stats

Number of businesses in the US: 27,626,360

Burglary rate per 1,000 residents in the US: 3.76

Auto theft rate per 1,000 vehicles in the US: 2.29

CityNo. businessesBurglaries / 1,000 peopleAuto thefts / 1,000 cars
Acton2,6720.970.21
Amherst2601.650.28
Arlington2,4980.930.4
Attleboro3,2494.131.02
Auburn1,3643.10.97
Barnstable6,5904.860.45
Belmont2,0152.260.2
Beverly4,1101.410.41
Billerica3,3370.770.16
Boston59,2684.092.31
Braintree3,6011.271.25
Bridgewater5981.982.39
Brockton5,5064.362.74
Brookline1,0511.552.31
Burlington1,9431.420.77
Cambridge13,1562.691.19
Chelsea2,1495.083.18
Chicopee2,9598.151.81
Danvers8211.330.72
Dartmouth2,9633.60.89
Dorchester6,8526.092.31
Fall River5,2145.492.68
Fitchburg2,6117.781.56
Framingham1,0951.710.76
Gloucester3,9071.070.54
Hanover1,8710.970.21
Haverhill4,3615.611.67
Holyoke2,4507.932.96
Hyannis9584.860.45
Leominster3,4173.370.86
Lowell6,1414.411.81
Lynn5,3524.832.53
Malden4,4221.571.65
Mansfield4951.770.68
Medford5,1381.520.84
Methuen3,7502.511.27
Milton1,5941.320.55
Needham9930.620.03
New Bedford5,5726.512.9
Newton13,7440.90.2
North Andover2,8660.370.23
Norwell1,6350.640.27
Norwood9561.590.93
Peabody4,9541.430.86
Pittsfield3,1018.460.74
Plymouth5332.150.32
Quincy7,7804.310.66
Revere4,1293.62.42
Salem4,0583.971.21
Springfield9,1431.174.11
Stoughton2,8752.310.91
Taunton3,5844.621.59
Wakefield1,50810.52
Waltham6,6722.230.69
West Springfield2,7464.672.45
Westfield2,7482.560.62
Weymouth4,8131.750.68
Woburn4,6091.570.51
Worcester13,0856.622.16
  1. West Springfield, MA 
  2. Business Insurance Common Coverage Options
  3. Property: In areas where property crime is more common, commercial property insurance rates tend to be higher. Your West Springfield business insurance will protect against vandalism, theft and arson, covering the cost of damage and saving your business money.
  4. Commercial Auto: Company-owned vehicles must be covered with commercial auto insurance, and policies vary from one business to the next. Your premium will depend on the number of vehicles you need to insure, the types of vehicles your company uses and the coverage level you want.
  5. Worker’s Compensation
  6. Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Massachusetts employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the two leading industries in West Springfield, MA workers comp cost looks like.
  8. Construction Industry, $6,770/year 
  9. Public Administration Industry, $700/year 
  10. Workers' compensation insurance is required in Massachusetts for all employees. Rates are based on the risk level associated with your business industry. Construction companies will pay much higher rates for workers' comp coverage because of the high risk for work-related accidents and injuries.


  1. Stoughton, MA
  2. Business Insurance Common Coverage Options
  3. Property: The property crime rate trends on the low side in Stoughton, which is good news for business owners who are looking for better rates on commercial insurance. With a lower risk for theft, arson and vandalism, your business could see some significant savings on your commercial property insurance rates.
  4. Commercial Auto: Auto thefts are rare in Stoughton, which could bring down rates on commercial auto insurance. If your company vehicle does get stolen, you can rely on your insurance policy to compensate your business for the value of the stolen car.
  5. Worker’s Compensation
  6. Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Massachusetts employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the two leading industries in Stoughton, MA workers comp cost looks like.
  8. Construction Industry, $6,770/year 
  9. Professional, Scientific and Technical Services Industry, $700/year
  10. Even though these businesses operate in the same city, their workers' compensation premiums are vastly different. That's because workers' comp prices are determined by the risk level associated with each workplace. Construction workers are far more likely to get hurt on the job than employees working in a tech office or science lab. That's why construction businesses will pay more for workers' compensation coverage.


  1. Haverhill, MA
  2. Business Insurance Common Coverage Options
  3. Property: In Haverhill, the greatest risks to business property include severe weather, theft and vandalism. The local crime rate plays a big role in determining your commercial property insurance rates.
  4. Commercial Auto: Whether your business owns a single company car or a whole fleet of delivery trucks, you will need commercial auto insurance. Your rate will be based on several factors, including the local auto theft rate. In Haverhill, vehicle theft is an ongoing problem, which could cause a slight increase in premiums.
  5. Worker’s Compensation
  6. Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Massachusetts employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the two leading industries in Haverhill, MA workers comp cost looks like.
  8. Health Care and Social Assistance Industry, $280/year 
  9. Manufacturing Industry, $1,650/year 
  10. Both of these industries face unique workplace hazards, which has a direct influence on workers' compensation rates. Because manufacturing jobs often require heavy lifting or work around dangerous machinery, workers' comp insurance is much more expensive for businesses in this sector.


  1. Malden, MA
  2. Business Insurance Common Coverage Options
  3. Property: Property crimes like vandalism and theft are expensive problems for businesses that don't have adequate insurance. The crime rate in Malden will influence how much you pay for commercial property insurance, with premiums increasing in areas with more frequent crime.
  4. Commercial Auto: If your business relies on company vehicles for daily operations, auto theft can be a nightmare. In areas where auto theft is common, business insurance rates might be slightly higher.
  5. Worker’s Compensation
  6. Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Massachusetts employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the two leading industries in Malden, MA workers comp cost looks like.
  8. Health Care and Social Assistance Industry, $280/year
  9. Accommodations and Food Services Industry, $1,090/year 
  10. Workers' compensation insurance is essential for every Malden business with employees no matter what industry you work in. Common workplace hazards will influence your premium, with high risk work environments paying more for coverage. Accommodations and food services have higher workers' comp rates due to the elevated risk for accidents and injuries. Businesses in health care or social services have lower premiums, thanks to reduced hazards on the job.


  1. Wakefield, MA
  2. Business Insurance Common Coverage Options
  3. Property: One of the biggest perks to living in Wakefield is the low crime rate. Not only does this reduce the chances that your business will be robbed or vandalized, but it could also lower your rates on commercial property insurance.
  4. Commercial Auto: Commercial auto insurance is required for all company-owned vehicles in Wakefield. Your rates will depend on how many vehicles you need to insure, and it can also be influenced by the auto theft rate in your area.
  5. Worker’s Compensation
  6. Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Massachusetts employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the two leading industries in Wakefield, MA workers comp cost looks like.
  8. Manufacturing Industry, $1,650/year 
  9. Retail Trade Industry, $1,070/year 
  10. Workers' comp insurance is required for both industries, but premiums are completely different. That's because rates are based on the potential for work-related injuries, and high-risk jobs like manufacturing put you at an elevated risk for accidents.


  1. Leominster, MA
  2. Business Insurance Common Coverage Options
  3. Property: Whether it's vandalism, theft or arson, property crimes can cause major revenue loss for businesses. In Leominster, crime rates vary from one neighborhood to the next, but if your business is located in a high-crime area, you could see an increase in insurance rates.
  4. Commercial Auto: Auto theft can quickly turn into a financial nightmare for businesses that don't have adequate insurance. Your commercial auto insurance safeguards against this type of loss, protecting your assets and revenue. Coverage rates will vary depending on the risk for collisions and auto thefts in your area.
  5. Worker’s Compensation
  6. Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Massachusetts employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry. 
  7. Based on a $100,000 annual payroll, here is what the two leading industries in Leominster, MA workers comp cost looks like.
  8. Manufacturing Industry, $1,650/year
  9. Retail Trade Industry, $1,070/year
  10. Both industries need workers' compensation insurance to protect against work-related injuries. Your rate will be based on common risk factors to your industry, and more dangerous work conditions will drive rates higher.


  1. Milton, MA
  2. Business Insurance Common Coverage Options
  3. Property: Local crime rates will have a big impact on your business insurance rates in Milton. In areas where theft and vandalism are more frequent, businesses tend to pay more for property insurance.
  4. Commercial Auto: If your business owns a vehicle, you will need commercial auto insurance to protect against collisions, liability and auto theft. Rates vary depending on how many vehicles you need to insure, but the local crime rate will also play a big role. In cities where the risk is high for accidents and auto theft, companies pay more for commercial auto insurance.
  5. Worker’s Compensation
  6. Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Massachusetts employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the two leading industries in Milton, MA workers comp cost looks like.
  8. Health Care and Social Assistance Industry, $280/year 
  9. Finance and Insurance Industry, $700/year
  10. Workers' compensation rates will be based on common hazards for each industry, with high-risk jobs driving rates up for workers' comp coverage.


  1. Revere, MA 
  2. Business Insurance Common Coverage Options
  3. Property: Severe weather events, theft and vandalism are all risks you will encounter as a business owner in Revere. In areas where property crimes are more common, businesses will see a spike in commercial insurance rates.
  4. Commercial Auto: Company-owned vehicles have to be covered by commercial auto insurance. The risk for auto theft in your city will help determine your rates. Premiums in Revere trend on the high side because auto theft is more common here than in other parts of Massachusetts.
  5. Worker’s Compensation
  6. Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Massachusetts employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the two leading industries in Revere, MA workers comp cost looks like.
  8. Accommodations and Food Services Industry, $1,090/year
  9. Transportation and Warehousing Industry, $9,770/year
  10. These industries carry unique risks and workers' compensation rates are based on common industry hazards. Employees in transportation and warehousing jobs are more likely to get injured during routine daily tasks, which drives up rates on workers' comp coverage.


  1. Hanover, MA
  2. Business Insurance Common Coverage Options
  3. Property: In cities where property crimes are more common, commercial insurance rates are typically higher. Not having adequate insurance coverage could lead to large business losses in the event of severe weather, vandalism or theft.
  4. Commercial Auto: Auto theft is pretty rare in Hanover, which could lead to lower rates on your commercial auto insurance. In cities where vehicle theft is common, rates tend to be much higher.
  5. Worker’s Compensation
  6. Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Massachusetts employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the two leading industries in Hanover, MA workers comp cost looks like.
  8. Construction Industry, $6,770/year
  9. Finance and Insurance Industry, $700/year 
  10. Both industries need workers' compensation insurance coverage for employees, but rates will be dramatically different. Because employees working in finance and insurance face much lower risks for work-related accident and injuries, workers' comp costs less for businesses in this field.


  1. Holyoke, MA
  2. Business Insurance Common Coverage Options
  3. Property: Holyoke is generally a safe place to live and work in, but occasional theft and vandalism is reported from local businesses. In high-crime areas, rates on commercial property insurance are generally higher.
  4. Commercial Auto: Commercial auto insurance costs are directly related to the risk for collisions and vehicle theft. In cities where auto theft is more common, insurance premiums tend to be higher.
  5. Worker’s Compensation
  6. Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Massachusetts employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.
  7. Based on a $100,000 annual payroll, here is what the two leading industries in Holyoke, MA workers comp cost looks like.
  8. Manufacturing Industry, $1,650/year
  9. Retail Trade Industry, $1,070/year
  10. Workers' compensation is legally required for all Holyoke businesses with employees. For businesses in the manufacturing sector, rates will be much higher than the costs for workers' comp coverage among retail businesses. That's because manufacturing jobs typically have a much higher risk for accidents and workplace injuries. The more dangerous workplace conditions are, the higher workers' comp premiums will climb.