In the heart of Massachusetts, you’ll find the diverse city of Brockton, home to around 100,000 residents. Brockton, MA has been recognized repeatedly for its great educational system and business-friendly environment. It was listed among the Best Communities for Young People, and Brockton High School been named twice among America’s Best High Schools in the U.S. News and World Report. With so much to offer, it’s no surprise that small businesses seem to thrive in Brockton.
During previous years, there were 615,775 small businesses in Massachusetts, providing jobs to 1,404,234 people. However, recent years have also brought some serious risks for business owners, with $6,530,654 paid out for losses. Running a small business is risky, so make sure you protect your investments with the best Brockton business insurance. Our Independent Insurance Agents work beside small-business owners to help them find the best coverage at the most affordable prices.
As a small-business owner, you simply can’t afford to overlook the risks of liability. 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. If you find yourself in the midst of a liability lawsuit, the expenses will pile up quickly. But with liability insurance for your Brockton business, you are always covered.
- Product Liability: According to a national study, 71 percent of product liability awards by the courts amounted to $1 million or more. If a defective product somehow slips past your gaze and it causes harm to a customer or the customer's property, you could be faced with a major product liability lawsuit. Product liability insurance gives you peace of mind that your assets are protected, and you always have the resources available to hire a good attorney if a lawsuit arises.
- Errors & Omissions/Professional Liability: For businesses that offer services rather than physical products, a different kind of liability coverage is needed. Errors and omissions insurance, sometimes called professional liability, covers you against lawsuits after a simple mistake. If you make an error in judgment that a client claims was harmful, you need to have E&O Insurance to cover your Brockton business.
Business Interruption Insurance for Brockton Businesses
- Recent Gross domestic product: 2.2%
- Recent Massachusetts gross state product: 1.6%
- The recent GSP was 0.6% lower than the recent GDP
For a small business, even a slight interruption can have long lasting consequences. For example, imagine that a fire breaks out at a neighboring business and pretty soon the flames spread and your business catches fire too. While you’re waiting for property repairs to be made, you probably have to shut down operations, and each day you aren’t open is another day of profits lost. In this situation, business interruption insurance steps in and compensates you for those lost profits at the end of the year, giving you the ability to pick up the pieces and move on after an unexpected disaster.
Property Insurance for Brockton Businesses
- 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
Weather in Massachusetts can be totally unpredictable, and for Brockton businesses, natural disasters pose a serious threat. With a high risk for hurricanes and coastal storm systems, Brockton is no stranger to damaging winds and torrential rainfall. The only way to be sure your business property is covered is by having a comprehensive commercial property insurance policy.
Workers' Compensation for Brockton Businesses
Every small business hopes to find and keep loyal employees, but what happens if an employee gets hurt on the job? If you have workers' compensation coverage, you have peace of mind that you’re covered. Not only does your employee get the health care needed at no cost, but workers' compensation protects your company from lawsuits too. No one wants to see an employee get injured on the job, but it happens every single day. Workers' compensation protects both businesses and employees. When you invest in workers' compensation insurance, you have peace of mind that you can afford to pay for medical expenses if an employee is hurt on the job. Plus you're protected from expensive lawsuits in the aftermath of injuries.
Employee Coverages for Brockton Businesses
- 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
Finding affordable health care for your employees is definitely challenging in Brockton, but our Independent Insurance Agents make it a little easier. Our friendly agents know the ins and outs of employee coverages, and they can help you find a business insurance plan that includes the health care insurance and life insurance that your staff needs at a price you can afford.
Cyber Crime Insurance for Brockton Businesses
- 5,116 Identity theft complaints in Massachusetts in recent years
- Ranked 25th highest for identity theft complaints in the U.S.
Cyber crime is something that every Brockton business owner has to think about. It’s a growing problem across Massachusetts, and it only takes one data breach to ruin your company finances. Research shows that only 22 percent of small businesses have a response plan in place to deal with cyber attacks and data breaches. The best way to prepare is by investing in a comprehensive business insurance plan that covers identity theft and cyber attacks.
Our Independent Insurance Agents specialize in helping Brockton companies find affordable business insurance. Our experienced agents minimize the cost by providing free rate quotes on multiple policies. This allows you to compare prices and coverages and create a customized plan that will be a good fit for your company.
Contact an Independent Insurance Agent today to get your free rate quote on Brockton business insurance.