Massachusetts was home to 615,775 small businesses in recent years that employed 1,404,234 individuals. And because of its location in the Greater Boston area, Weymouth, MA provides a safe haven for such entrepreneurial success. From IT consultants to marketing firms, small businesses thrive in this city of 55,419. But there are numerous risks that these companies face — which is where our Independent Insurance Agents can help.
Our local agents aren't tied down to one carrier and are able to compare a number of quotes with a multitude of carriers. With this many options, you're sure to find a Weymouth commercial insurance policy that meets all of your needs — as well as your budget. Let an agent assist in protecting what you've worked so hard to get off the ground. Even the smallest of risks can present a financially devastating situation. General liability coverage is the most basic form of protection that a small business can possess. Whether a customer slips and falls or a product causes an injury, these foundational coverages will safeguard your Weymouth 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 concern. This umbrella-like coverage is mostly used for personal injuries that occur on your physical property but can extend to employees that accidentally cause an accident.
- Product Liability: A national study found that 71% of product liability awards and 53% of medical malpractice awards amounted to $1 million or more in payouts. If your small business sells, manufactures or distributes a product, this coverage is for you. The costs associated with a lawsuit can be hefty, but with product liability insurance you can stay focused on your bottom line.
- Professional Liability: Also known as errors & omissions insurance, this coverage is for lawyers, architects, and consultants who regularly dish out advice. If a negligence claim lands on your desk, this coverage helps cover legal costs. Talk to an agent about the details to see how professional liability coverage applies to your Weymouth small business.
Business Interruption Insurance for Weymouth Businesses
Massachusetts' gross state product increased by 0.6% less than the national gross domestic product, at 1.6% and 2.2% respectively. Because your success translates to statewide and nationwide economic success, you need business interruption insurance in the event of a shutdown. This add-on coverage protects against income loss due to natural disasters that prevent your company from doing business. Our agents can walk you through why this insurance matters and how you can purchase it at a low cost.
Property Insurance for Weymouth Businesses
The 119 natural disasters that occurred recently caused physical damage across the country. In fact, only 61% of losses from natural disasters were covered, with total uncovered property damaged totaling $9.7 billion. Considering Weymouth's extreme proximity to the Atlantic Ocean, your business can't afford to skimp on property insurance. Protect your physical office space, as well as office equipment, with a comprehensive Weymouth business insurance policy. Luckily, our agents can set you up with something fast and affordable.
Employee Coverages for Weymouth Businesses
Small businesses take pride in hiring dedicated, hard-working employees. But today's rising health care costs can be unappealing and complicated for business owners to deal with. In recent years, Massachusetts spent $1,061,981 on premiums — ranking it the 36th highest in the country for premiums. And annually, small businesses paid $6,379 for an individual and $17,424 for a family. Our agents can find health and life insurance benefits that work within your budget and provide great medical access for your employees.
Cyber Crime Insurance for Weymouth Businesses
Are you part of the 68% of small companies without a data breach response plan in place? If so, you're not making a smart and savvy business decision. The Bay State saw a reported 5,116 identity theft complaints in recent years — the 25th highest in the country. Regardless of how sensitive or how much personally identifiable information your business holds, you're at risk of a hacker gaining access to information you don't want leaked. Cyber crime insurance protects you in a number of ways, so start talking through your options with an Independent Insurance Agent.
You've worked hard to get where you are, so let us help you keep it that way. Our agents know the risks associated with owning a business — no matter the size or expertise. We want to help you stay financially stable and help you prevent financial devastation from any hazardous situation you face.
Visit your local agent today to find the most comprehensive, affordable Weymouth business insurance out there.