Just 25 miles south of Boston, you'll find the charming suburban community of Bridgewater, MA. This growing city was once a hub for agriculture, but today's Bridgewater small businesses span a wide variety of industries. during previous years, there were 615,775 small businesses in Massachusetts, providing jobs to 1,404,234 people. During the same year, these businesses were paid $6,530,654 for losses.
As a Bridgewater business owner, you work hard to see your business succeed. Take a proactive approach to protect your business from the biggest threats by investing in Bridgewater business insurance. Our Independent Insurance Agents can help you build a customized commercial policy that protects against your biggest concerns like liability, cyber crimes, and property damage. Liability insurance is the bedrock of small-business insurance. If a client claims harm due to your advice or an employee gets injured on the job, liability insurance has you covered.
General Liability: General liability insurance is an investment that could save your company thousands of dollars. If one of your patrons slips and falls, you could have some hefty medical bills as a result. According to a recent Travelers Business Risk Summary, 60 percent of small-business owners ranked medical cost inflation as their highest concern and more than 30 percent said they felt least prepared to handle this issue. General liability insurance pays for those medical costs so you can focus on the continued growth of your business.
Product Liability: According to a national study, 71 percent of product liability awards and 53 percent of medical malpractice awards by the courts amounted to $1 million or more. Product liability is tricky because customers can claim that even the safest products cause harm. Even if your products caused no harm, you'll still have a fortune tied up in legal defense. Product liability insurance protects you by paying for those expensive legal fees and any potential settlements you have to pay after a lawsuit.
Professional Liability: No business owner would purposefully give bad advice or harm a customer. But if you make a judgment error or a client claims your advice was detrimental, you could be faced with a lawsuit. Professional liability insurance protects you from this risk and offers peace of mind that you're covered if you are ever sued.
Business Interruption Insurance for Small Business
- Recent Gross domestic product: 2.2%
- Recent Massachusetts gross state product: 1.6%
- The recent GSP was 0.6% lower than the recent GDP
Imagine for a moment what would happen to your small business if operations had to be suspended for an extended period of time. For example, if a tornado destroyed your building, your business wouldn't be bringing in revenue. Business interruption insurance protects you from business income loss due to unexpected events. Talk to an Independent Insurance Agent about how this coverage can help your Bridgewater business.
Property Insurance for Small Business
- Number of recent natural disasters: 119
- Only 61% of losses from natural disasters were covered
- Total uncovered property damage in recent years: $9.7 billion
The unpredictable weather in Bridgewater can be a major concern for small businesses. With nearly 40 inches of snowfall each year and a high risk for hurricanes, this city is a hub for natural disasters, so make sure your commercial property is ready for anything by having comprehensive business insurance.
Employee Coverages for Small Business
- Total recent spending on premiums in Massachusetts: $1,061,981
- Ranked 36th for the highest premiums in the U.S.
- Annual cost of health care for small businesses in recent years: $6,379/person or $17,424/family
- Average national cost of workers' compensation per employee: $612
As a small-business owner, you could have difficulty finding affordable health care coverage for your staff. Our Independent Agents can provide a wide variety of policy options and multiple quotes, allowing you to compare all the options and select employee coverages that make sense for your business.
Cyber Crime Insurance for Small Business
- 5,116 Identity theft complaints in Massachusetts in recent years
- Ranked 25th highest for identity theft complaints in the U.S.
Only 22 percent of small businesses have a response plan in place to deal with cyber breaches. Usually, small businesses just don't think about this threat until it's too late. If your sensitive financial information falls into the wrong hands, it could spell disaster for your business. Take action now to protect yourself with cyber crime insurance.
As a Bridgewater business owner, you work hard to make your business successful. Our Independent Agents understand the struggle of seeing a small business succeed, and they will work with you to minimize the risks with a customized commercial insurance plan. There is no one-size-fits-all plan when it comes to business insurance, so our agents build each plan individually with the coverage that interests you most at a price you can afford.
Contact an agent today to learn more about Bridgewater business insurance.