Choose The Hartford for All Your Connecticut Business Insurance Needs
Small businesses make up 97% of Connecticut’s businesses, with a total of 333,078 small businesses and 721,350 small business employees in 2016.1 Small businesses have helped to reduce the unemployment rate in Connecticut be creating over 4,000 net new jobs in 2016, the unemployment rate was down to 5.4% when it was 6.2% the previous year.2 With small business owners making up a large percentage of the business owner population, they need to be educated about the types of business insurance coverages available to help prevent and protect their businesses in the case of an incident. The Hartford has provided small business insurance for companies in Connecticut for more than 200 years, read on to learn more about the types of coverages offered by The Hartford.
Types of Connecticut Business Insurance Offered
General Liability Insurance CT
General Liability Insurance protects your business from claims involving property damage, personal injury, advertising errors and much more. General Liability Insurance is a great policy for small business owners because it provides general coverage for a variety of issues a business could be found liable for. General Liability Insurance can be purchased as a standalone policy or combined with other coverages in a Business Owner’s Policy (BOP). The Hartford works with business owners to customize their coverage to meet the needs and potential risks of their company. For example, General Liability Insurance coverage can help protect against:
- Reputation harm – a customer sues you for libel, slander, wrongful eviction, or violation of privacy.
- Bodily Injury – when a customer when a customer slips and falls at your business.
- Property damage – for when a customer claims your business damaged their property.
- Medical costs – if a customer who injures themselves while on your property sues you to cover the cost of their medical expenses that resulted from the accident.
Commercial Flood Insurance
For businesses that are located in areas with heavy rainfall, significant snow melt, or hurricane warnings it is crucial that they consider getting a Commercial Flood Insurance policy. Commercial Flood Insurance protects your property, merchandise, equipment, and furniture is they are damaged or destroyed in a flood. Commercial Flood Insurance is provided through the National Flood Insurance Program and the government requires roughly a 30-day waiting period on new flood insurance policies so it is important to be prepared and obtain coverage far in advance of a flood warning. The Hartford makes it simple and affordable for business owners to add Commercial Flood Insurance to their existing policies. Consider flood insurance with The Hartford to help protect your business if, for example:
- Moderate rainfall causes your drains and gutters to be flooded resulting in a damaged ceiling and walls.
- A flash flood damages the merchandise in your warehouse.
Connecticut Workers’ Compensation Insurance
Most states in the US require business owners to carry some level of workers compensation insurance on their employees. Workers’ Compensation Insurance protects both the business and the employee. It protects the employee by ensuring that those who suffer a workplace related injury or illness receive access to adequate medical attention, rehabilitation, coverage for lost wages, and medication. It protects the business owner by providing coverage for legal fees if an employee or their family sues the business owner because of a workplace related injury or illness. For example, The Hartford provides Workers Compensation Insurance to help protect you and your employees in events such as these:
- An employee slips on a patch of ice while walking into the office and breaks their arm, requiring a hospital visit and weeks of physical therapy.
- An employee is killed in a car accident while driving to meet with a client.
- An employee loses a finger fixing broken machinery and a result requires surgery and a few weeks off to heal.
Commercial Auto Insurance
Commercial Auto Insurance is required for business owners who own or rent vehicles that are used to conduct business. This requirement also applies if employees use their personal vehicles to conduct business on behalf of the company. Commercial Auto Insurance is critical because it helps protect the business and its employees if they are involved in an automobile accident while driving for work. It covers rental reimbursement, towing expenses, medical bills, physical damage loss, and more. For example, let The Hartford help protect your business from incidents like these:
- An employee runs a red light while running late to a meeting and hits a pedestrian in the crosswalk.
- You lose control of your vehicle while driving in the snow to deliver product to a customer and damage someone’s private property.
- Your employee rear ends the car in front of them while driving a company vehicle from the job site.
Connecticut Minimum Business Insurance Requirements
Insurance requirements vary state by state; the state of Connecticut requires all businesses with one or more employees to carry workers’ compensation insurance to protect those employees. Workers’ compensation insurance is important because it helps protects your employees if they suffer a work related illness or injury. It allows them access to medical care, rehabilitation, and also helps replace their lost wages while they recover. The Connecticut Insurance Department has useful information on their site for small business owners where they suggest the key insurances a business owner should purchase like Commercial Auto Insurance and Property Liability Insurance.3 The Hartford can help your business be prepared in the event of an incident, consider insurance with The Hartford to protect you and your employees.
Additional Connecticut Business Insurance Links
- Commercial Auto Insurance
- Business Income Insurance
- Commercial Flood Insurance
- Commercial Property Insurance
- Commercial Umbrella Insurance
- Data Breach Insurance
- General Liability Insurance
- Surety & Fidelity Bonds
- Home-Based Business Insurance
- Employment Practices Liability
Get a quote on Small Business Insurance for your business today.