How to Choose the Right Small Business Insurance Provider in PA

Small businesses make up a large part of Pennsylvania. There are 1.1 million small businesses in Pennsylvania, representing 99.6% of all shops. Small business owners in PA will need the right small business insurance to protect their companies. Get a price today and learn more about the small business insurance you need in PA.

Small Business Insurance in Pennsylvania

You can tailor your coverage package with Pennsylvania insurance companies to meet the needs of your small business. Your coverage package for small business insurance may include various types of insurance to assist you in various cases based on your job and how you do it.

In Lancaster, a small architecture company might buy professional liability insurance to secure themselves from claims of professional negligence that cost them money. They may also purchase commercial property insurance coverage to help pay for repairs & damage to their business in the event of wind fire, or water damage.

These businesses also require workers' compensation insurance to cover their employees' medical expenses and lost income in the event of an injury.

Which policies are best for Pennsylvania businesses?

What kinds of benefits might come with your business insurance? That's something you should know about. Read on to learn some useful ways that different types of Pennsylvania business insurance can help you stay safe.

General Liability Insurance in Pennsylvania

Most of the time, small businesses in Pennsylvania buy general liability insurance first. According to insurance providers, this type of insurance is also known as commercial or business liability insurance. That's because it can protect you financially against many of the most common accidents.

If someone other than an employee accuses your business of hurting someone or damaging their property, Pennsylvania general liability coverage can assist pay for damages, such as case costs.

General liability insurance, like business liability insurance, can shield your company from various claims such as:

• Damage to personal property
• Reputation damage
• Bodily injury
• Advertising errors
• Personal injury like libel or slander

You can purchase this insurance separately or with our business owners' insurance (BOP). It can assist in covering certain expenses, such as:

• Your customer gives you their personal belongings, but they damage them. So they sued you to get a new one.
• Another business says that you violated their copyrights when you advertised their goods. They chose to go to court with you.
• A customer sustains injuries at your restaurant and requires medical attention. After some time, they ask you to pay for their hospital bills.
• It is also important to know that clients can sue your company even if you didn't do anything wrong.

Commercial Auto Insurance Pennsylvania

If you or one of your employees sustains injuries in a car accident while operating a work-owned vehicle, business auto insurance in Pennsylvania can assist in protecting your company. If your company has work vehicles, these policies can help protect you.

In Pennsylvania, all cars owned by businesses must have commercial auto insurance. Commercial auto insurance protects the cost of accidents involving work vehicles.

Commercial car insurance can help if, for example:

• one of your employees hits a pedestrian crossing the street while driving to deliver your goods.
• After meeting with a client, I got into an accident on the way back.
• You hit another car from behind on your way to work, seriously hurting them.

For instance, an Erie pizza delivery person sustains serious injuries while delivering pizza to a customer's home. Firefighters call for an ambulance to take the worker to the hospital for a checkup.

With commercial car insurance, the restaurant may be able to pay for the worker's medical bills and lost wages. It also assists in covering the cost of repairing or purchasing new cars in the event of an injury.

In Pennsylvania, the bare minimums for car liability insurance are:

• There is a limit of $15,000 per person or $30,000 per accident for bodily injury
• Each accident carries a $5,000 property damage responsibility
• $5,000 in medical benefits

Pennsylvania Commercial Property Insurance

Getting commercial property insurance, whether you own or rent real estate, for your business activities is imperative. If any of the following harms your structure, this coverage may assist with the cost of repairs:

• Lightning
• A storm
• Fire

Furthermore, you may customize your commercial property insurance policy to include coverages for the particular hazards that your business encounters. For instance, we can assist you in paying for the costs associated with duplicating important records or offer you temporary storage space while your company is being repaired.

With our risk exposure study, we can assist you in determining the rules and procedures your business needs to prevent an accident. You can be sure you're covered if you have the appropriate insurance if:

• Your manufacturing warehouse's stock and machinery are destroyed by fire.
• When strong winds bring down a tree, it crashes into your storefront, causing structural damage.
• A thief takes your office's equipment, records, and furniture during a heist.

Commercial property Insurance

Commercial property insurance in Pennsylvania might aid in safeguarding the necessities for operating your company. It can assist in defraying the expense of replacing or repairing your company's physical space, equipment, and property following covered incidents like wind, fire, or water damage.

Here's one instance where having business property coverage would be beneficial:

An electrical fire at a Chadds Fort clothes store destroys fixtures and inventory due to heat and smoke damage. Commercial property insurance may partially cover the cost of repairing damaged goods and cleaning up the damage.

Ensure your company has no exclusions by carefully reading your policy documentation. Certain places might not be insured against hurricane or flood damage.

Pennsylvania Workers' Compensation Insurance

Most Pennsylvania companies with employees must have workers' compensation insurance by law. Workers' compensation insurance helps cover your employees if they get injured in the workplace by providing them access to medical care & helping cover their:

• Lost wages
• Medical expenses
• Rehabilitation
• Funeral costs

Remember that workers' compensation does more than protect your staff; it takes care of your business. If you don't have workers' compensation, you'll have to cover the claims yourself, which could ruin your company financially.

This insurance can benefit your business if an employee is involved:

• They experience back pain when lifting heavy objects, necessitating monthly visits to a chiropractor.
• Someone slips & breaks their wrist on the wet floor of your office. They need surgery.
• A dangerous drug at work is making me sick, and I need medicine to recover.

This type of insurance aims to safeguard workers financially in the event of an on-the-job injury. Injured workers may get help paying for their medical bills, lost wages while they heal, and court fees if they sue.

Pennsylvania workers' compensation insurance could also help the business pay for legal costs like attorney fees, court costs, and settlements if the injured worker sues the car repair shop for negligence.

Professional liability insurance in Pennsylvania

This another helpful small business insurance in PA policy, also known as errors and omissions insurance (E&O), covers companies in Pennsylvania that provide professional advice or services. It includes complaints about how well someone did their job.

Professional liability insurance can help cover the following claims:

• Failure to perform professional service or a professional service erro
  

• Professional negligence lawsuits
• Late or incomplete work
• Negligence
• Work mistakes and oversights
• Inaccurate advice
• Libel or slander
• Failure to protect personally identifiable information
• Misrepresentation

So, if a client sues your Philadelphia accounting company because you gave them incorrect financial advice, this insurance can help pay your lawyers' fees.

Pennsylvania Professional Liability (E&O) insurance

E&O insurance, an acronym for "errors and omissions," is another name for professional liability insurance. Small businesses facing blame for mistakes, missed deadlines, or incomplete work can benefit from its protection.

Professional services in Pennsylvania often have E&O insurance or professional liability insurance. The costs can be covered if someone sues you for how you did your job.

This is what errors and omissions insurance is best for in Pennsylvania

• Errors and oversights
• Accusations of negligence
• Missed deadlines

Business owner's policy

A BOP incorporates general liability & business property insurance into a single plan. It is often the least expensive type of business insurance for a Pennsylvania company.

A business owner's strategy works best in Pennsylvania:

• Slips and falls cause injuries
• Customer property damage
• Business property damage

Commercial property insurance

This coverage protects the physical structure and contents of a firm, including inventory, equipment, and furnishings. Bundle it with general liability coverage in a BOP to save.

Commercial property insurance best for:

• Theft and vandalism
• Fire
• Weather damage

Cyber insurance in Pennsylvania

Cyber insurance in Pennsylvania covers financial losses from data breaches and cyberattacks. We recommend it to Pennsylvania firms managing credit cards and other sensitive information.

The Best Cyber Insurance for Pennsylvania:

Fraud monitoring services
Customer notification expenses
Data breach investigations

Commercial umbrella insurance

When the underlying policy hits its limit, umbrella insurance increases coverage on your general liability insurance, commercial auto insurance, and employer's liability insurance.

Commercial umbrella insurance in PA recovery for:

• Auto accident lawsuits
• Customer lawsuits
• Employee injury lawsuits

Pennsylvania business insurance: Wherever you are

No matter where you are in Pennsylvania, we have you covered. For example, you can receive:

• In Pittsburgh, Pennsylvania, there is business insurance.
• In Downingtown, Pennsylvania, there is business insurance.
• Business insurance in West Chester, Pennsylvania.
• Business Insurance in Philadelphia, Pennsylvania
• Lancaster, Pennsylvania, has business insurance.
• Allentown, Pennsylvania, offers business insurance.

Minimum Requirement for Small Business Insurance in PA

In Pennsylvania, you must have workers' comp insurance for your employees, whether full-time or part-time. This ensures that employees with a work-related bodily injury or illness have fair access to:

• Medical professionals
• Medication
• Rehabilitation
• Lost wages

Learn more about workers' compensation insurance in Pennsylvania and get a quote from us today. Many insurance companies have been leading commercial insurance providers in Pennsylvania for years.

How much does small business insurance cost in PA?

Firm insurance expenses in Pennsylvania vary greatly for each small firm. The company's industry and business practices determine pricing.

Here are a few factors that influence the amount you'll pay for
Pennsylvania business insurance:

Your profession

Your sector and its associated risks have an impact on insurance costs. A landscaper, for example, will pay a higher premium than an accountant who spends their whole day sitting at a desk.

The policies you choose

Adding more policies to your business insurance plan will increase the cost. The majority of companies need multiple policies to cover various situations.

Your headcount

Insurers will look at your company's payroll when calculating worker compensation coverage prices. In general, having ten staff members costs more than having two.

A free, immediate quote from a different company is the most effective way to compare coverage options and costs for business insurance policies.

How much does small business insurance in PA cost?

Small business owners can obtain commercial insurance at reasonable rates. As small business owners, it is crucial to consider the small business insurance cost. Thankfully, when it comes to small business insurance in PA, the rates are often reasonable. Obtaining commercial insurance is a responsible decision that ensures the protection and security of your small business. Evaluating and comparing the cost of different insurance policies can help small business owners make informed decisions about their coverage needs. It is important for small business owners to know that there are options available to help minimize the cost of insurance while still benefiting from comprehensive coverage. By conducting thorough research and shopping around, small business owners can find affordable insurance solutions that meet their unique needs.

The average costs in Pennsylvania are:

• General liability: $42 monthly.
• Workers' Compensation: $49 per month.
• Professional liability/E&O: $59 per month.

Factors affecting company insurance costs include:

• Your Industry and Risks
• Business operations
• Employee number
• policy limitations, and deductibles

Resources for Pennsylvania's Small Business Owners:

Pennsylvania Insurance Department provides resources for business insurance.
Department of Labor and Industry in Pennsylvania oversees Workers' Compensation.
The Workers' Compensation Guide for the Pennsylvania Insurance Department.

2023 Pennsylvania Small Business Profile (US SBA) is available from the Pennsylvania Insurance Department.
2018 Pennsylvania Workplace Injury Data (Source: US Bureau of Labor Statistics)

How can insurance assist your Pennsylvania small business?

• Flexible payment options: We provide several payment choices, including monthly instalments with no additional costs, to help you manage your cash flow.

• Tailored insurance: It customizes insurance coverage for businesses like yours to address specific risks.
• Claims responsiveness: Different insurance companies in Pennsylvania will promptly assign a dedicated claims representative to assist with any reported covered claims.
• Coverage for contracts: The insurance coverage meets most basic contract insurance standards.
• Worldwide coverage: The policy offers worldwide coverage to Pennsylvania businesses, provided the claim is filed in the United States, a U.S. territory, or Canada.
• Passion for service: Experienced agents who understand your business's needs will deliver exceptional service.

How can I obtain business insurance in Pennsylvania?

The second query is straightforward: once you know what business insurance you need for full coverage.

What's the next step?

We encourage doing everything correctly. Create a checklist with the following items:

• Make a list of the insurance needs for your Pennsylvania business: Now that you understand the criteria (such as workers' compensation insurance), you may determine which coverage is required at a minimum.
• Seek quotations: Now is the time to do some comparisons. We recommend starting with our business insurance quote tool.
• Ask for assistance: That is if you need it. Simply Business has representatives who can help if you get stuck with the process. Click here to contact someone who can assist you with Pennsylvania-specific insurance questions.
• Make an important decision: When you've found the right insurance for your company, you'll need to decide whether to bill yearly or monthly. Consider your company's budget and analyze the options, such as how much you'll pay annually.
• Please download your COI: This is the Certificate of Insurance for your company's insurance policy. This is one way to show that your company has adequate insurance. Keep it somewhere safe and simple to find.

Check out our simple guide to obtaining business insurance.

Business insurance for all Pennsylvania cities

We can provide customized business insurance in all Pennsylvania cities, including but not limited to:

• Philadelphia
• Pittsburgh
• Scranton
• Bethlehem
• Allentown
• Erie
• Reading
• Lancaster
• Levittown
• Harrisburg

Conclusion

Companies in Pennsylvania require a variety of insurance types. Some of these include health and workers' compensation insurance for employees and insurance to safeguard the business itself.

This page has information about what kind of insurance a business needs. There is also information unique to home-based businesses that can help companies file claims after storm damage. If a business owner has a question, they can also visit www.insurance.pa.gov/Consumers to talk to the Insurance Department's Consumer Services Bureau.

Resources for Pennsylvania's small enterprises and self-employed individuals

Pennsylvania's Small Business Development Center
PA Business One-Stop Shop
The U.S. Small Business Administration's Pennsylvania District

Pennsylvania General contractors to have licenses and insurance requirements
Pennsylvania's liquor license and insurance requirements
Find Business Insurance Agents in Pennsylvania.
How To Get Business Insurance
What is a Certificate of Insurance (COI)?

Can you get low-cost business insurance that is also reliable?

Article sources

U.S. Small Business Administration