Mansfield, MA is a large contributor to the state's economic and commercial success. Its location between Boston, MA and Providence, RI creates fertile ground for up-and-coming businesses and a strong community for entrepreneurs. The state's 615,775 small businesses employed 1,404,234 individuals, but liability claim losses amounted to $6,530,654. It's a stark reality, giving you an idea of how essential it is to protect the business you've worked so hard to create.
Our Independent Insurance Agents know the risks when it comes to protecting a small business and the specific hazards associated with a company in Mansfield. Our local agents take the time necessary to talk through your current policy, needed coverages and potential options until you find the Mansfield business insurance coverage you've been looking for at the price you deserve. The heart of any business insurance policy is liability coverage. Whether a client is hurt in your office or hurt elsewhere owing to your product, these foundational coverages protect you and help your small business stay afloat.
- General Liability: The recent Travelers Business Risk Summary found that 60% of all businesses said that medical cost inflation was their biggest concern and more than 30% said they were the least prepared to handle this risk. Because the smallest of incidents can bring a lawsuit, your small company needs this coverage.
- Product Liability: According to the Insurance Information Institute, 71% of product liability awards and 53% of medical malpractice awards exceeded $1 million. These large sums could devastate your Mansfield small business. Product liability coverage is designed for those who sell, manufacture or distribute a product that could potentially malfunction and cause a lawsuit.
- Professional Liability: If your company regularly gives advice to clients, you need comprehensive errors & omissions insurance. This coverage compensates you for any legal or defense costs you may need to pay in the event of a negligence claim.
Business Interruption Insurance for Mansfield Businesses
How would you continue to make a profit if you were forced to shut your doors due to a catastrophe or unsafe situation? Luckily, business interruption insurance provides compensation based on the revenue you would normally be making during a closure. It allows you to stay financially stable and gives you peace of mind if something unexpected occurs. Since Mansfield small businesses are so close to the Atlantic Ocean, this coverage is perfect for any hurricane- or flood-related scenarios.
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Property Insurance for Mansfield Businesses
Your physical property is likely the backbone of your operations. But considering 119 natural disasters struck in the U.S. in recent years, you can't afford to have low coverage limits or noncomprehensive insurance. In fact, only 61% of the damage was covered, leaving $9.7 billion in losses to be paid. Property insurance helps you get your business's physical space back up and running if repairs or rebuilding need to be completed. Your local agent will gladly work to find you property coverage that works for you.
Employee Coverages for Mansfield Businesses
The Bay State paid $1,061,981 for employee health care coverage in recent years — averaging $6,379 for an individual plan and $17,424 for a family policy. Health care, life insurance and disability coverage are foundational elements that your employees deserve to have access to. But the options and requirements can get complex. And then there's workers' compensation. In recent years, coverage averaged $612 per employee or $1.27 for every $100 in wages. So if an employee is injured on the job, you can both stay financially upbeat. Look at your options when it comes to these basic coverages by talking with an agent today.
Cyber Crime Insurance for Mansfield Businesses
You may not consider your company at risk for a data breach, but think again. Massachusetts saw a reported 5,116 identity thefts in recent years — and considering only 22% of small businesses have a response plan in place, many faced financial consequences. Regardless of the type of information you have, you need cyber crime insurance to protect yourself and your company from the rising threats of today's technological world. Let an agent walk you through your options so you can have 360 degrees of protection.
Our Independent Insurance Agents have the expertise necessary to accurately assess your individual risks and find you a Mansfield commercial insurance policy that meets your needs. Be prepared for the unexpected and unwanted by purchasing insurance with one of our agents. Since our agents are local, they know the area well and can successfully find protection for whatever comes your way.