The Need for Business Insurance in Denver
Small businesses make up 99.5% of the State of Colorado’s business ecosystem.1 These small businesses employ nearly half of the state’s employees.2 Denver has experienced a substantial amount of small business growth. In fact, 160 tech startups opened within the last few years.3 The recent boom is excellent for Mile High small business owners. With so many small businesses popping up, there’s never been a better time to learn about small businesses make up 99.5 % of the State of Colorado ’ mho commercial enterprise ecosystem.These small businesses employ closely half of the state ’ second employees.Denver has experienced a hearty measure of little clientele growth. In fact, 160 technical school startups opened within the last few years.The late boom is excellent for Mile High small business owners. With indeed many small businesses popping up, there ’ south never been a better time to learn about business insurance in Denver, CO .
We have over 200 years of have helping small businesses motivate forth. Get a quote or call 855-829-1683 and talk with our humble business policy team today.
About Denver Small Business Insurance
At a minimal, Denver, CO little businesses should have business property, general indebtedness and business income coverage. We bundle these three types of coverage in our Business Owner ’ south Policy ( BOP ) .
Business property insurance is a type of coverage for your business that helps protect the physical location your business owns or leases. It also helps protect property you use to conduct your business, such as business tools, equipment or inventory. Coverage applies whether you own or rent the business property.
For exercise, if a fire damages some of your clientele equipment and furniture, business property indemnity can help cover costs to fix or replace it. If the fire damaged the construction, business property coverage can besides help you cover repair costs .
- Property damage
- Bodily injury
- Personal and advertising injury
Business income insurance supplements lost income when businesses are unable to operate because of a theft or property damage.
For model, if your clientele can ’ t operate because the construction needs repairs, this coverage can help you recover the income your commercial enterprise loses while it ’ south closed .
These types of indemnity get bundled through our BOP. You can besides buy cosmopolitan indebtedness or occupation property insurance as standalone policies. If you get commercial enterprise property indemnity, it besides includes business income coverage .
Minimum Requirements of Small Business Insurance in Denver, CO
Different states require businesses to carry different levels of coverage. Whether you’re in Colorado Springs or Denver, the state requires almost all public and private businesses to have 4 different states require businesses to carry different levels of coverage. Whether you ’ re in Colorado Springs or Denver, the state requires about all public and private businesses to have workers ’ compensation coverage for employees. The country besides requires businesses to have commercial car insurance for company-owned vehicles. Certain businesses in the state besides have to have professional liability indemnity
Workers ’ compensation helps protect you and your employees when a work-related injury or illness occurs. Workers ’ comprehensive examination helps employees by providing benefits to help them recover from a work-related injury or illness. It can besides provide disability payments and help replace some of their lost wages if they take convalescence time aside from work .
Workers ’ comprehensive examination helps protect employers by limiting their liabilities related to an injury or illness that occurs from influence. Without workers ‘ comprehensive examination, employees sick or hurt from their job wo n’t receive benefits to help pay for their medical costs. And health policy coverage wo n’t help them either since it ‘s a work-related injury or illness .
You can get workers ‘ comprehensive examination from private indemnity companies, like The Hartford. Without coverage, you may have to pay out of air pocket for your employee ‘s medical costs if they get hurt or sick from their problem.
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Workers ’ compensation can help if :
- Your employee trips over a box in the office and ends up in the emergency room. Workers’ compensation can help cover his medical costs.
- A cook spills boiling water in the kitchen and suffers severe burns. Workers’ compensation can help cover her treatment costs. It can also help cover any ongoing care she may need to help her recover.
- Your office worker develops carpal tunnel syndrome from bad ergonomic work habits. Workers’ compensation can help cover their medical costs to recover from the repetitive stress injury.
commercial car coverage is necessity if a business owns, leases or rents vehicles. It ’ s besides required if your employees drive :
- Personal vehicles for business reasons
- Company-owned vehicles
commercial car insurance helps cover claims alleging property damage and bodily injury if a business owner or your employee is in a car crash and found to be at mistake. For example, commercial car indemnity can help if your employee :
- Hits a pedestrian while driving during a business trip, and the pedestrian needs medical treatment. Commercial auto insurance can help pay their medical bills.
- Swerves off the road and hits a building while running a business errand. Commercial auto insurance can help cover the property damage.
- Hits and totals a car while traveling on business. Commercial auto insurance can help cover claims alleging property damage.
Professional indebtedness coverage, besides known as errors and omissions policy, helps protect businesses if a customer files a lawsuit because of a err in the services provided. professional liability coverage can be helpful for many businesses, including :
- Professional tech firms
- Travel agencies
- Consulting firms
- Interior design businesses
- Accounting or tax firms
A few ways professional liability can help protect your business include :
- An employee of your tax firm makes a clerical error on a client’s tax returns. The returns get filed incorrectly, and your client has to pay extra taxes and fees after the error is fixed. Your client then files a lawsuit against your business. Professional liability can help cover your business’s legal costs.
- After shooting a client’s wedding, you start editing the photos. The files get corrupted and damaged. Your client files a lawsuit against your business. Professional liability can help cover your costs to resolve the issue.
- An employee at your accounting firm forgets to include a large expense on your client’s financial statement. Your client has to pay a fine for submitting an incomplete financial statement, so they file a lawsuit against you. Without insurance coverage, you’re responsible for the damages. Professional liability can help cover your legal costs and any damages that may get awarded.
Get Customized Small Business Insurance for Denver, CO Businesses
Every humble business is unique. There international relations and security network ’ t a one-size-fits-all business indemnity policy. We ’ ve been protecting customers for over 200 years, and we have in-depth cognition of different risks small businesses face. Our belittled business indemnity team helps business owners, like you, create custom-make policies to drive their Denver little commercial enterprise and employees to success .
Additional Business Insurance for Denver, CO Businesses
3 Downtown Denver Partnership, “State of Downtown Denver”
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