Stoughton, MA is a geographical hot spot for businesses to flourish thanks to its proximity to Boston, MA, and Providence, RI. During previous years, 615,775 small businesses in Massachusetts provided jobs to 1,404,234 employees — many of whom call Stoughton home. But these companies were paid $6,530,654 in losses, showing just how important it is to be prepared against the unexpected.
Our Independent Insurance Agents are local and experienced — extremely knowledgeable in the kind of risks you face as a small-business owner in Massachusetts. We can compare quotes from numerous insurance carriers and find you a both comprehensive and affordable Stoughton business insurance policy. If you're just starting your search for commercial insurance, liability coverage is the first place to begin. These foundational coverages protect you against the smallest of incidents as well as situations specific to your small business.
- 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 issue. General liability coverage steps in if a customer slips and falls or an employee damages a client's computer. Don't let an accident put your business at financial risk.
- Product Liability: 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. If your company sells, distributes or manufactures a product that could malfunction, you need product liability coverage. An agent can explain how you'll be protected against any legal costs or medical bills with this policy.
- Professional Liability: Does your Stoughton small business regularly provide advice? Also known as errors and omissions insurance, this coverage is designed for architects, consultants or accountants who could be sued for negligence for misleading or inappropriate advice. Although you work hard for your clients, it's best to be prepared if something comes back against you.
Business Interruption Insurance for Stoughton Business
- Recent U.S. gross domestic product: 2.2%
- Recent Massachusetts gross state product: 1.6%
Considering Massachusetts' GSP was only 0.6% behind the GDP, keeping profits and revenues flowing is important for not only you but also larger economies. But what if a bad storm forces you to shut your doors? Business interruption insurance exists to keep your business running behind the scenes, compensating you for the revenue you would normally be making while making repairs so you can continue to pay employees and bills. Talk to an agent about how this add-on coverage can keep you secure.
Property Insurance for Businesses in Stoughton
- 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
Because of Massachusetts' coastal location, properties see a fair amount of damage from natural disasters, catastrophes, and bad weather. Considering the statistics above, your Stoughton business can't afford to be unprotected from Mother Nature. Property insurance allows your business to get back up and running in a timely manner if repairs or rebuilding need to be done.
Workers' Compensation Coverage for Stoughton Businesses
If an employee is injured on the job or suffers an illness from work, how would you respond? Workers' compensation coverage steps in and pays for medical and legal costs. While the average national cost of workers' compensation per employee is $612, your specific policy is tailored to your unique employee and business needs. Let an agent walk you through your policy and coverage options to receive proper employee protection.
Employee Coverages for Stoughton Businesses
- Total recent spending on premiums in Massachusetts: $1,061,981
- 36th highest premium in the U.S.
- Annual cost of health care for small businesses in recent years: $6,379/individual or $17,424/family
Your employees deserve affordable and comprehensive health and life insurance. But where do you find the best policy as an employer? An agent can be your partner-in-crime and help you navigate the confusing health care terrain. Talk to us about your employees, price range and benefit needs so we can find employee coverages that work for you.
Cyber Crime Insurance for Stoughton Businesses
- 5,116 identity theft complaints in Massachusetts in recent years
- 25th highest state for identity theft complaints
The world is becoming increasingly tech-savvy, giving hackers more incentive to attack and gain access to important information. Recovering from a cyber breach can be extremely difficult for a small business, especially considering only 22% of them have a cyber breach response plan in place. Our agents can walk you through the details and get you covered with your own cyber crime insurance policy.
Find a Great Stoughton Commercial Insurance Policy
You've worked hard to get your business to where it is today. Partner with an Independent Insurance Agent to build a customized Stoughton commercial insurance policy for your company to stay protected — no matter what situation comes your way. Whether you have just launched a new boutique or have had the same accounting firm for years, we want to ensure you have 360 degrees of insurance protection.