There are over 132,000 businesses operating in New Hampshire. In the city of Keene, over 2,200 businesses participate in a variety of industries, including education, healthcare, and hospitality. Keene business owners need a comprehensive business insurance plan to protect their assets and their employees when something goes wrong. Since every business has unique risks, it’s important to understand all of your exposures and find tailored insurance policies to cover them. A local independent insurance agent can help you assess your risks, compare policies and quotes, and make an informed decision.
Liability Insurance for Small Businesses in Keene, NH
Lawsuits against businesses are common. If someone accuses you of negligence, the costs to defend yourself and pay the injured party can be devastating—even if the claims against you are unfounded. Commercial general liability (CGL) insurance provides broad coverage for lawsuits that are filed against your business. It helps you pay for direct costs related to a claim (e.g., medical expenses, repairing or replacing damaged property) as well as your legal defense if you are sued.
Not every kind of liability risk is covered by a CGL policy. There are additional types of commercial liability policies available for many of these scenarios. Talk to your independent insurance agent about why you might need commercial auto liability insurance, environmental liability insurance or professional liability insurance to appropriately protect your assets from lawsuits.
Cyber Liability Insurance for Keene Businesses
Your use of computer systems and electronic data leaves you susceptible to a variety of potentially expensive scenarios. When sensitive data is stolen by outside hackers, you’re responsible for making things right with your business partners and customers. What’s more, you're likely to be sued for the financial harm that was caused.
- Number of identity theft complaints in New Hampshire per year: 726
- Ranked 41st highest for identity theft complaints in the US
- Only 22% of businesses have a cyber/data breach response plan
Cyber liability insurance protects your business assets by paying for many of the costs related to a cyber breach and any resulting legal action against you. The cyber liability insurance market is still evolving, so finding the right policy can be challenging. What’s more, policies and coverage vary among insurance companies. Be sure to ask an independent agent about how cyber liability insurance can help you protect your business.
Property Insurance for Small Businesses in Keene, NH
Structure fires, severe storms, and occasional floods can cause extensive damage to your New Hampshire commercial property.
- Number of federally declared disasters in New Hampshire since 1953: 55
- Most common reasons for declared disasters in New Hampshire: Severe Storms
Whether you own your building or lease your office space, you need some type of protection for your business property. Commercial property insurance covers damage to a building and its contents (computers, office equipment, and furniture, supplies, fixtures, etc.) if it is damaged by a weather event, fire, theft, vandalism, and other causes of loss. An independent insurance agent can help you determine if you need more than just a basic commercial property policy. If you live in an area that is prone to flooding, you probably need flood insurance designed for businesses. Flood insurance is available from the National Flood Insurance Program (NFIP), and your local insurance agent can help you purchase coverage.
Business Interruption Insurance for Keene Businesses
Unexpected events from minor to catastrophic can easily damage your building, your suppliers’ buildings, local utilities and more. A severe storm or a fire can leave you unable to operate for an extended period while you repair or rebuild your commercial property. Business interruption coverage, or business income coverage, protects your earnings if your business is unable to operate because of damage after a fire, hail, wind, equipment breakdown, or some other covered event.
If you are forced to close your doors for some time in order to make repairs, this coverage pays for rent, employee salaries, lost income, relocation fees, and more. Business interruption insurance is usually a part of your commercial property policy or a business owners policy (BOP). An independent insurance agent can help you assess your risks and help you get the coverage you need.
Workers’ Compensation Insurance for Keene, NH Businesses
New Hampshire workers’ compensation insurance provides wage replacement, medical care, and death benefits when an employee is injured or becomes ill on the job. Workers’ compensation insurance coverage compensates employees for their injuries and protects employers from potentially devastating negligence claims. New Hampshire workers’ compensation insurance is required for any employer with one or more full- or part-time employees. Every employee must be covered. There are no exceptions for family members of employers or for employees of nonprofit organizations.
Sole proprietors, partners, and self-employed persons, however, do not need to purchase workers’ compensation insurance for themselves, but they may choose to do so. Sole proprietors who are operating as subcontractors, even if they do not have employees, may be required by a general contractor to carry workers’ compensation coverage for themselves. Corporate officers and LLC members are automatically included in New Hampshire workers’ compensation coverage but can elect to exempt themselves.
A corporation or LLC may choose to exclude up to three executive officers, but this rule does not apply if the person engages in on-site construction work. Exemptions from coverage are not automatic and must be applied for. Volunteer workers are exempt from New Hampshire workers’ compensation insurance requirements. You can purchase workers’ compensation insurance for your New Hampshire business through an insurance agent or insurance company that is licensed to sell it in the state. Employers can self-insure with approval from the New Hampshire Commissioner of Labor.
Employee Benefits for Small Businesses in New Hampshire
An employee benefits plan that includes health insurance and life insurance, dental and vision insurance, vacation and sick time, and other perks help companies attract and retain top employees. Good employee benefits programs can help improve employee morale and satisfaction and even decrease absenteeism.
- Average amount spent per year on healthcare coverage by New Hampshire businesses: $214,560
- Ranked 45th for highest medical insurance costs in the US
- Average annual cost of health care in New Hampshire: $6,478/person or $17,024/family
There are many different employee benefits options available, and not every business needs the same types of plans or programs. A local independent insurance agent can help you find suitable coverage at a competitive price.
Why Work with an Independent Agent?
There are many business insurance products and options available to protect your Keene, NH business. You probably have a lot of questions, and a local independent insurance agent can help. An independent agent can work with insurance companies that specialize in the type of work you do. And your agent can help you assess your risks and get quotes from multiple, highly rated insurance companies.
Find an agent in or near Keene to get started.
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