Many small businesses have put down roots in the "State of Independence." In fact, small businesses accounted for 99.6 percent of Pennsylvania's total businesses and employed nearly half of the state's private workforce in 2014, according to the Small Business Administration's 2017 state profile. Regardless of industry, safeguarding the property, resources, and employees that support your Pennsylvania small business is paramount to your continued success and operation. Learn about some of the most common policies for business owners in Pennsylvania and how AmVenture's small business insurance solutions can help your business.
Commercial Property Insurance for Small Business Owners in Pennsylvania
Ensuring you're able to recover from an act of theft, vandalism, fire, or another adverse situation that affects the building that where you conduct your business is extremely important. With commercial property insurance, you could receive assistance paying for the costs of repairs to your owned building if an adverse situation arises. In many cases, your inventory, equipment, furniture, and other resources may also be covered up to the limits of your policy.
General Liability Insurance for Small Businesses in Pennsylvania
With general liability insurance, your business may be protected against third-party claims related to the following scenarios:
- Property damage: damage you or an employee causes to a customer's property
- Bodily injury: an injury that an individual suffers at your premises or that you're responsible for
- Advertising injury: acts or offenses committed by your small business whenever you're advertising your products, goods, or services
General liability insurance may also help you pay for legal fees or settlements if you're faced with a lawsuit.
Businessowners Policy: Comprehensive Coverage for Small Businesses in Pennsylvania
If you need both general liability and commercial property insurance, you may want to consider combining the benefits of both policies into a singular package called a businessowners policy (BOP). A BOP offers a convenient way to help ensure your property is covered, but it also incorporates another benefit: business interruption coverage. This type of coverage may help your business if you suffer a loss of income after a covered disaster strikes.
Workers' Compensation: A Requirement for Small Businesses in Pennsylvania
Pennsylvania requires that all small businesses with at least one employee have workers' compensation insurance, which covers on-the-job accidents, injuries, and illnesses caused by the working environment. Benefits may help an injured employee pay for hospital expenses, necessary medical treatments, and more. In most instances, workers' comp also compensates employees a portion of their wages lost during recovery. The policy is designed to protect your small business, as well, by helping to cover expenses related to workers' comp claims.
Where Can I Purchase Small Business Insurance in Pennsylvania?
Small businesses like yours drive our nation's economy forward. At AmVenture, we know how hard you work and the kinds of risks you have to face to better serve your customers each and every day. Our small business insurance professionals are ready to help you protect and grow your business by providing you with tailored insurance solutions designed for small businesses like yours and your budget. Contact us now or fill out our simple online form to get the process started.