Starting a business in Massachusetts opens the door to risks. You need insurance designed for your industry and business size. We customize plans for more than 20 industries. Pick coverage below to start a quote today.
Essential coverage for your Massachusetts business
When you also have at least one employee
* Plus Workers Compensation
All standard plan benefits and:
Whether you’re looking to satisfy Massachusetts requirements with workers comp and disability insurance or know insurance is the only way to protect your finances, we’ve got you covered.
This is the most versatile insurance highly recommended for small and mid-sized businesses. It protects you from physical or bodily injury and property damage claims as a result of accident or negligence. General Liability equally covers lawsuits such as slander, libel and false or misleading advertisements that might damage the reputation of your business.
Calamities and natural disasters could strike anytime and this could lead to your business shutting doors permanently. Property Insurance helps protect your business’s physical assets including the building and its contents. The financial coverage it offers from property loss or damage allows you to recover quickly and resume operations as soon as possible.
If you have one or more employees, Workers' Compensation is required for all types of businesses operating in Massachusetts. It helps pay for claims in the form of medical costs, rehabilitation expenses and lost wages as a result of work-related injury or accident. And as the owner, it grants you protection from legal liabilities due to negligence.
Another policy offered in Massachusetts is the Commercial Auto insurance. It works just like your normal car insurance but instead provides coverage from vehicular accidents incurred during official business trips. Whether you have owned or leased automobile, this insurance covers liability, collision, medical expenses and other damages caused by your commercial vehicle.
Depending on how many Full Time Equivalent (FTE) employees work in your business, you may or may not be required to have this insurance. Health Insurance aims to give workers accessible and affordable healthcare plans to ensure their wellbeing. Depending on the extent of policy, it provides coverage for various medical, surgical and dental treatments.
Combining Commercial Property and General Liability and Business Interruption, the Business Owners Policy or BOP offers significant protection for small businesses without the heavy price tag. A convenient way to safeguard your assets, you have an option to include other elements such as professional liability, data breach, crime and cyber liability to maximize coverage.
Without insurance, you are risking your financially stability from challenging and unforeseen circumstances like accidents, negligence claims and other legal liabilities that might affect your business.
Carriers use different criteria to evaluate the cost of business insurance. Thus, premiums may vary depending on your experience, claims history, services offered and safety policies.
The state of Massachusetts requires all businesses to carry Workers' Compensation. Other Commercial Insurance is required based on the size of your busines and the work that you do. It is strongly advised to follow minimum state requirements to avoid fines and penalties.
Every business is different, so as to degree of protection and financial status. For starters, we generally recommend a Business Owners Policy (BOP) and Commercial Auto insurance for their diverse coverage.
CoverWallet utilizes state of the art technology to help small businesses understand and buy customized coverage, get significant savings and conveniently manage their insurance, in a matter of minutes, all through our online platform.
You wanted better protection and cheaper pricing. So did we. We baked that dream into everything we've set out to accomplish in building our award winning platform.
We have one! How much could we have really improved the insurance purchase process? Try us! We ask only the questions you need to answer, nothing more.
We are proud to be part of Aon, the leading global professional services firm providing advice and solutions in Risk, Retirement and Health. With us, you’re in good hands!
Being a small business presents several challenges that may need more assistance. While CoverWallet provides you the best insurance, you can also consider these references to further support your small business:
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