State laws determine whether your business needs workers' compensation and other policies. Learn the requirements for small businesses in your state and compare quotes online for free with TechInsurance.
In most states, businesses must purchase workers’ compensation insurance as soon as they hire their first employee.
State laws also mandate how much commercial auto insurance businesses must carry if they own a vehicle.
In states with high property values, you may need higher limits on commercial property insurance or a business owner’s policy (BOP) to cover potential damage. In areas where earthquakes, floods, or fires are likely, businesses may have difficulty getting insured or pay more for coverage.
A business centered in an area with higher crime rates or more foot traffic may pay more for policies that protect against theft and vandalism, such as commercial property insurance and BOPs. Premiums might also be higher for general liability insurance, which protects against common customer lawsuits. In contrast, a company based in a less-populated or lower crime area may pay less for these policies.