In Farmington, Utah, there are approximately 25,000 residents. If you're trying to protect your company, then small business insurance is necessary. When you're trying to find coverage on your own, it can seem overwhelming.
Fortunately, a Farmington, Utah independent insurance agent can be help you get a quote through highly rated carriers for free. They will do the shopping on your behalf and find competitive coverage through their network of carriers. Contact a local adviser for custom rates and coverage options in minutes.
How Much Does Business Insurance Cost in Farmington, Utah?
The cost of your Farmington, Utah business insurance will vary and depend on your individual risk factors. Without custom quotes, it is not possible to obtain exact rates. However, below are some criteria points that carriers use when rating your business coverage:
- Number of employees
- Company vehicles used
- Gross annual sales
- Employee payroll
- Property and inventory values
- Location of business
- Years of experience
- Industry type
Is Business Insurance Required in Farmington, Utah?
There are typically two types of business insurance required by law in most states. In Farmington, Utah, you'll be mandated to have the following commercial policies as they may apply to your operation:
- Commercial auto insurance: This policy is required by law when you have company vehicles titled in the business's name. The state minimum liability limits or greater apply.
- Workers' compensation insurance: This policy is required by law when your operation employs one or more employees.
What Does Business Insurance Cover in Farmington, Utah?
There are many different insurance policies that you can obtain for your Farmington, Utah business. While each limit will be set to your specifications and needs, the policies are the same for most entities. Check out commonly purchased commercial policies:
- Business equipment breakdown: Pays for repairing or replacing company-owned equipment that breaks down due to a covered loss.
- Commercial umbrella liability: Pays for a bodily injury and property damage loss of others after it exhausts your underlying limits.
- General liability: Pays for a bodily injury and property damage loss of others.
- Business property: Pays for the repair or replacement of company-owned property and belongings.
- Business interruption: Pays for regular business expenses while your company has to shut down due to a covered loss.
- Business auto: This policy pays for claims that may occur as a result of driving a company-titled vehicle.
- Business inventory: Pays for the repair or replacement of company-owned inventory merchandise.
- Workers' compensation: Pays for the medical expenses and lost wages of an injured or ill employee resulting from job duties.
What Does Small Business Liability Insurance Cover in Farmington, Utah?
There are roughly 287,800 small businesses in existence in Utah. If you're one of them, your primary policy will be liability insurance. Most businesses start with liability coverage, and the below instances are typically covered when you do:
- Coverage for bodily injury or property damage claim
- Coverage for a slip and fall on-site or as a result of doing business
- Coverage for a liability claim involving your commercial vehicles
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Are There Any Small Business Health Insurance Plans in Farmington, Utah?
If you are a small business in Farmington, Utah, you won't be required to offer health insurance unless you have 50 employees or more. However, you may want to provide health coverage anyway as an added benefit for your staff. If this is the case, your trusted adviser who quotes your business insurance can quote your health coverage too.
What Are the Best Small Business Insurance Companies in Farmington, Utah?
When it comes to your small business insurance, you want the best. Fortunately, you'll have a lot of options when choosing an insurance company. Below are some of the top carriers in Farmington, Utah:
|Best Small Business Insurance Companies In Farmington, UT||Star Rating|
The above carriers are highly rated due to their exceptional coverage offerings and customer service. To obtain quotes through these insurance companies and others, consult with your licensed adviser.
Why Work with an Independent Insurance Agent in Utah?
Business insurance isn't just about price, it's also about covering your operation and reducing your risk. Finding coverage that suits your needs and doesn't break the bank can be challenging when you don't know where to begin. There are many options, but you won't have to do it on your own when you work with a trained expert.
A Farmington, Utah independent insurance agent will do the shopping for you at no additional cost, making it easy. They'll run quotes through highly rated companies and present you with the most competitive option. Connect with a local agent to get started for free.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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