Choose The Hartford for Your Delaware Business Insurance
Delaware, the Diamond State, had 74,913 small businesses in 2016, making up 93.1% of Delaware businesses. A total of 1,627 companies exported goods from Delaware in 2013. Among these, 1,406, or 86.4%, were small firms; they generated 18.9% of Delaware’s total known export value.1 Businesses in Delaware need business insurance for a variety of reasons, many types of insurance are required. Learn more about small business insurance from The Hartford and see why over 1 million small businesses trust us with their unique business insurance needs.
Types of Delaware Business Insurance Offered
Delaware Business Owner’s Policy
Business property insurance, general liability insurance, and business income insurance can be combined into a business owner’s policy (BOP) to safeguard your Delaware small business against claims. BOP Insurance helps cover your Delaware business from claims resulting from things like fire, theft or other covered disasters and from claims involving bodily injury or property damage. Your DE business can tailor a BOP to help meet your unique needs by adding optional coverages including commercial property insurance, general liability insurance and more.
Consider a business owner’s policy for your Delaware business if:
- Your business has a physical location in Delaware, an office in your home, or a rented or owned office, store or other physical work location.
- Your Delaware company could be sued, for example, if a customer is injured in your store and files a lawsuit.
- Your Delaware business has property that can be damaged or stolen, including business equipment, customer files, office furniture and more.
Delaware Commercial Flood Insurance
Your business property insurance probably does not cover flood damage, so it’s smart to consider adding a commercial flood insurance policy to your insurance coverage. Commercial flood insurance helps protect your Delaware business from the damage that comes from floodwater. A commercial flood insurance policy will protect not only the location of your business but also the physical contents and property of your business. A commercial flood insurance policy is designed to help protect your Delaware business if your walls, floors, ceilings, fixtures, furniture, inventory or other business property sustain damage from the floodwater.
Consider commercial flood insurance for your small business if:
- You experience rainfall near your business during the year. Even with moderate rain, a drain may become clogged and could eventually overflow into your business location and cause flood damage.
- You run your Delaware business in an area that has snowy winters with the potential for snowmelt to flood your business. Fast melting snow is one of the top causes of flood damage on commercial properties.
Delaware Commercial Umbrella Insurance
Commercial Umbrella Insurance provides Delaware businesses with additional liability coverage to help protect them against the potentially ruinous costs of large claims against them. Assets can be at risk when a company is the target of a lawsuit. Without commercial umbrella insurance, Delaware business owners could be required to pay out of pocket for medical bills, legal fees or damage expenses that exceed the limits of their primacy business insurance coverages.
A commercial umbrella insurance policy helps you protect your business when accidents such as the following happen:
- A customer slips on the floor in your store and injures herself. She makes a claim and the medical costs of her injuries exceed your general liability coverage limits.
- An error in your advertising results in significant lawsuits against your Delaware business with costs that exceed your primary business liability insurance limits.
Delaware Data Breach Insurance
To mitigate the risk of litigation costs and other penalties when a data loss or theft occurs, a cyber liability or data breach insurance policy can help protect your business. Some data breach insurance providers like The Hartford also provide access to professional assistance to help businesses set up processes and procedures to help prevent breaches from occurring. In the event of a data breach, they also provide guidance on how to respond quickly and appropriately and comply with applicable laws and regulations. Data breach insurance helps cover the costs of a data security breach for things like identity protection solutions, public relations expenses, legal fees, liability costs and more. Data breach insurance coverage could be vital to your Delaware small business because quick and appropriate action is necessary to help restore people’s confidence in your business when you are the victim of a cyber attack. Data breach insurance from The Hartford helps customers prepare in advance to prevent data breaches and respond quickly when a breach occurs. A representative from The Hartford can help you find the data security insurance coverage that is right for your Delaware small business.
Here are two examples where a business could benefit from data breach insurance:
- The Delaware business has a network where employees save data, which is helpful but also puts the operation at risk should a hacker work his way into the system and steal information.
- The Delaware business keeps customer or patient records such as medical histories, credit card info, bank account and Social Security numbers in its database – which can be an attractive target for hackers.
Delaware Minimum Business Insurance Requirements
All businesses in Delaware are required to carry a workers’ compensation policy. There are some rare exclusions. If your business does not carry a workers’ compensation policy, you could not only face a lawsuit if an employee is injured, but you can also face fines from the state Department of Labor.2 Learn more about Delaware’s minimum business insurance requirements from the Delaware Insurance Commissioner’s Office.
Additional Connecticut Business Insurance Links
- Workers' Compensation Insurance
- Commercial Auto Insurance
- Business Income Insurance
- Commercial Property Insurance
- General Liability Insurance
- Management & Professional Liability
- Surety & Fidelity Bonds
- Home-Based Business Insurance
- Employment Practices Liability
Get a quote on Small Business Insurance for your business today.