Business Insurance in Rhode Island FAQ - Quick Answers

There are numerous items that will impact your Rhode Island business insurance premiums, and it's impossible to know what your exact rates will be without a custom quote. Check out the risk factors used for rating your coverage below:

  • Type of industry
  • Number of employees
  • Gross annual sales
  • Location of business
  • Number of company vehicles
  • Safety practices in place
  • Past claims reported
  • Number of years in operation

There are two policies that are a requirement in Rhode Island:

  • Workers' compensation insurance: If you have 4 or more employees.
  • Commercial auto insurance: If you have company-owned vehicles.

Rhode Island business insurance will look different for every operation. However, here are some common foundational policies that could apply to your business:

General liability insurance is a necessary policy and often your business's primary coverage. It pays for the following:

If you want to offer health insurance to your staff, then coverage can be quoted through private carriers with a local agent. As a small business in Rhode Island, you won't be required to provide health coverage with fewer than 50 employees. 

When it comes to finding the best business insurance for your operation, you'll have options. In Rhode Island, Nationwide, Hanover, and Hiscox are highly rated by peers. This is due to their superior claims service and broad coverage selection.

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National Business Insurance Stats

Number of businesses in the US: 30,819,176

Burglary rate per 1,000 residents in the US: 3.76

Auto theft rate per 1,000 vehicles in the US: 2.29