New Hampshire Small Business Insurance

Running a small business is a big responsibility. From managing clients and employees to ensuring you're producing the best possible product or service, you have a lot to worry about. However, you also have a lot of risk. An accident, lawsuit or property damage could destroy everything you have worked to build. For small business owners in Amherst and beyond, purchasing comprehensive New Hampshire small business insurance can provide peace of mind and allow you to focus on what you do best - run your business!

Small Business Insurance in NH

Small businesses are essential to the local and national economies with millions of small businesses operating across the country. As more people strike out on their own in towns like Amherst, this number stands to keep growing. However, small businesses have a high risk of failure when unexpected and expensive events like natural disasters, lawsuits, and fines occur. With small business insurance from HPM, you can discuss the specifics of your business with a risk control specialist and better protect your company and improve the odds that you can get through an otherwise catastrophic event like a fire or lawsuit.

New Hampshire Insurance Requirements for Small Business

Unlike business owners in other states, besides NH worker's compensation insurance, Amherst small business owners do not face many legal requirements when it comes to buying insurance. Despite this, you may be required to purchase insurance to fulfill obligations with lenders, landlords, and clients.

New Hampshire, like all states, does require that businesses with employees purchase NH worker’s compensation insurance. This coverage helps to provide protection for the employees and your business in case of a workplace injury or illness. Though you may not believe you have any employees, the state may think otherwise and make you responsible for carrying the insurance for what you considered an independent contractor.  For more information on what defines an employee and subcontractor in the eyes of the state, check out a recent blog titled The Difference Between a Subcontractor and Employee in NH.

Another possible requirement for a NH small business with 50 or more employees are the requirements set forth by the federal Affordable Care Act where you may be required to provide your employees NH health insurance.

Common Small Business Insurance Coverage Options

While not required by law, business insurance can protect your small business from a variety of risks including fire, theft, storm damage, and professional errors.  Some common coverage options that many NH small businesses can benefit from include:

Business Property Insurance - From a commercial building to the tools and equipment necessary to run your business, business property is typically the lifeblood of a business and critical insurance to keep your business going.

Commercial General Liability Coverage (CGL) - Though impossible to completely avoid all liability, you can protect your business with CGL as it provides coverage for claims resulting from physical injury or bodily injury, as well as libel or slander and property damage as a result of your products, operation or condition of premises.  This coverage also typically covers the defense of a claim, which can be significant in and of itself.

Professional or Product Liability - Coverage if your product or service damages property or causes injury to someone using your product.

Commercial Auto Insurance - If your business owns or operates a business vehicle

Business Interruption Insurance - To help cover expenses if your business has to temporarily close due to a covered loss.

Cyber Insurance - For data breaches and hacker attacks

Because your small business is unique, your coverage should be tailored to fit your specific needs.  In addition to common insurance coverages, there are a variety of specialty insurance policies that may benefit your business.  Speak with an HPM Insurance professional about tailored coverage for your industry including:

  • Contractors Insurance
  • Restaurant Insurance
  • Liquor Liability
  • Directors and Officers
  • Employment Practices Liability Insurance

Affordable Small Business Insurance Packages

Purchasing your insurance separately can be more expensive than packaging it into a single policy.  Many insurance companies offer low-risk small businesses the option of buying a Business Owners Policy (BOP).  This affordable option can combine property insurance, general liability insurance, business interruption insurance, and other policy enhancements in a single package.  Often it can be tailored to fit your specific needs for affordable yet personalized coverage.

Amherst small business owners have many responsibilities and face many risks every day.  With a comprehensive New Hampshire small business insurance policy plan, you can protect yourself, your business, your reputation, your clients and your employees from financial hardship.

Here are Two Reasons to Contact HPM Insurance Today:

  1. HPM Insurance is a local small business too!  We have the expertise to help you identify risks and find solutions to keep your business operating.
  2. It's easy and FREE to get a no-risk quote. Simply enter your zip code above and we will contact you regarding NH small business insurance coverage.

This material is for informational purposes only. All statements herein are subject to the provision, exclusions, and conditions of the applicable policy, state and federal laws.  For an actual description of all coverages, terms and conditions, please refer to the applicable insurance policy or check with your insurance professional.