Chelmsford Business Insurance
Find the right business insurance policy for you.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
The economic roots of Chelmsford, MA lie in the industrial, lumber and limestone industries. Today, this western Massachusetts town of 33,802 is set to see a 37.9% boost in future job growth — an optimistic look at this small town's success. During previous years, 615,775 small businesses in Massachusetts provided jobs to 1,404,234 people. But that same year, these hard-working companies were paid $6,530,654 in losses. That's why you need an Independent Insurance Agent by your side.
Our local, knowledgeable agents will gladly assess your specific risks and find you a comprehensive Chelmsford business insurance policy that meets your needs. We will take your budgetary restrictions into account as well so you can be fully protected at an affordable price regardless of what unwelcome situation may arise. Liability insurance is the foundation of any small business's insurance plan. Whether a customer injures himself or herself on your property, a product that you sell malfunctions or you receive a negligence claim for "bad" advice, these three basic — but necessary — coverages can protect you and your company.
- General Liability: According to a recent Travelers Business Risk Summary, 60% of small-business owners ranked medical cost inflation as their highest concern and more than 30% said they felt the least prepared to handle this concern. The smallest of incidents, such as a client's tripping in your office or your employee's spilling coffee on a client's computer, can result in a lawsuit.
- Product Liability: Despite attentive screening and testing, a product can malfunction without warning and cause injury to a customer. In fact, a national study found that 71% of product liability awards and 53% of medical malpractice awards by the courts amounted to $1 million or more. Product liability coverage covers any fees associated with a lawsuit so you can focus on your business's bottom line.
- Professional Liability: Errors & Omissions insurance is designed for professionals who give advice to their clients. So if you're an architect, consultant, accountant or lawyer, you need professional liability coverage. If a negligence claim lands on your desk, this insurance covers associated legal costs.
Business Interruption Insurance for Chelmsford Businesses
- Recent Gross domestic product: 2.2%
- Recent Massachusetts gross state product: 1.6%
With a recent GSP increase of only 0.6% less than the national GDP increase, Massachusetts is seeing economic success — and your small business in Chelmsford is a big part of that. But what happens when a natural disaster or unsafe situation forces you to shut down your doors for an extended period of time? Business interruption insurance compensates you based on the revenue you'd normally be making so you can stay financially stable. Talk to an insurance agent today about how this added coverage can keep your business running smoothly.
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Property Insurance for Chelmsford Businesses
Recently, 119 natural disasters struck the U.S., damaging property near and far and causing financial devastation for many small businesses. Only 61% of losses from natural disasters were covered and total uncovered property damage totaled $9.7 billion. Considering that Mother Nature can strike without warning and that Massachusetts is a coastal state, you can't afford to be without property insurance. An agent will get you the coverage that compensates you for broken windows, flooded property, and damaged roofs.
Employee Coverages for Chelmsford Businesses
Your employees work hard to keep your business successful, so shouldn't you provide ample health and life insurance for them? The average annual cost of health care for small businesses was $6,379 per person or $17,424 for a family in recent years. And with a total recent premium expenditure of $1,061,981, Massachusetts ranked as having the 36th highest premium in the U.S. Our agents can also find a workers' compensation policy for employees that injure themselves while on the job. It's a challenge to find affordable, yet comprehensive, coverage for your workers, but that's where an agent can help.
Cyber Crime Insurance for Chelmsford Businesses
A single data breach can put your company at serious legal and financial risk, which is why you need proper cyber crime insurance. Only 22% of small businesses have a response plan in place if a cyber breach occurs, which isn't a great statistic considering there were 5,116 identity theft complaints in Massachusetts in recent years. Regardless of what kind of or how much information your small business takes in, you need the proper cyber crime insurance policy given today's rising technological advancements.
Our Independent Insurance Agents know the risks your Chelmsford small business faces. But as a small-business owner, you don't have time to search through potential insurance policies and coverage options. Let our local, friendly agents do that work for you. We will compare quotes from numerous carriers to find you a comprehensive and affordable Chelmsford commercial insurance policy based on your unique needs.