Choose The Hartford for All Your Mississippi Business Insurance Needs
The Magnolia State is home to 254,598 small businesses, making up 99.3% of companies in the state of Mississippi in 2018. Those small businesses employ 434,843 employees. In this case, small businesses in Mississippi are defined as businesses with fewer than 500 employees.1 Companies have been protecting themselves in Mississippi with business insurance from The Hartford for hundreds of years. Learn more about Mississippi small business insurance, business insurance and more from The Hartford.
Types of Mississippi Business Insurance Offered
Mississippi Business Owner’s Policy Insurance
A Mississippi Business Owner’s Policy is an insurance policy that combines business property insurance and business liability insurance to help you protect your Mississippi small business from many of the typical risks facing companies like yours. A Business Owner’s Policy also referred to as a BOP, can help protect your business from the costs of damages from things like fire, burglary, or another covered disaster in Mississippi. It also helps covers the costs related to claims against your company for things like bodily injury, property damage, and personal and advertising injury that may arise during the daily operations of your business.
Consider Getting a Business Owner’s Policy if:
- Your Mississippi business could be sued, for example by a customer who is injured in your office or store.
- Your Mississippi business has a physical location such as an office in your home, workplace that is rented or owned, including a store or other building.
- Your Mississippi business has digital and/or physical property that can be stolen or damaged such as digital hardware and software, tools, inventory, furniture, customer information, and other private data.
You can tailor a Business Owner’s Policy to meet your Mississippi business needs by adding additional insurance coverages, including data breach insurance, workers’ compensation insurance, and more. Purchasing a BOP is smart and straightforward. It provides broad coverage by including both business property and business liability – two distinct insurance coverages that most businesses need – into a single policy.
Mississippi Data Breach Insurance
Depending on the level of data breach insurance coverage you select, data breach insurance and cyber liability insurance helps Mississippi businesses cover the costs of a data security breach for things like legal fees, identity protection solutions, public relations, and more. Because swift action is imperative to restore the public’s confidence in your company after a breach occurs, smart Mississippi businesses include data breach coverage as part of their business insurance solution set.
To reduce the risk of litigation and other penalties after a data loss or breach takes place, a cyber liability or data breach insurance policy from The Hartford can help by providing Mississippi businesses access to professional assistance to comply with applicable regulations and laws.
Here are two ways data breach insurance helps protect your business in Mississippi:
- Helps your business prepare in case of a data breach. The Hartford provides services that assist Mississippi companies in formulating plans to avoid data security breaches as well as steps to take in the event one occurs.
- Quick responses when a data breach takes place. Companies must respond quickly to minimize the impact of a data security incident on their customers, employees and vendors. The Hartford helps our insured businesses to swiftly respond with the appropriate actions to help mitigate further damage after a breach occurs.
Mississippi Workers’ Compensation Insurance
Workers’ Compensation Insurance, also known as workers’ comp insurance or workman’s comp insurance, provides benefits to Mississippi employees for work-related injuries or illnesses received on the job. In Mississippi, employers are required to carry workers’ compensation insurance if they have five or more employees.2 Workers’ Compensation Insurance coverage includes medical care, help replacing lost wages when unable to work, and more. This protection may also help cover legal fees if a worker’s family decides to sue your business.
Worker’s Compensation Insurance coverage can help protect your Mississippi business and employees in these events:
- An employee hurts her back moving furniture into the office and requires an urgent care visit, medication, and time-off for recovery.
- An employee slips on spilled coffee in the breakroom floor, injures his arm and neck, and requires a visit to the hospital and several weeks of recovery time.
- A box falls from a shelf and injures an employee.
- An employee is driving to the office after the conclusion of a business meeting across town and is severely injured in a car accident, and is transported to the hospital in an ambulance.
Mississippi General Liability Insurance
General Liability Insurance coverage, also known as commercial general liability insurance and business liability insurance, helps protect your Mississippi business by covering the costs from bodily injury claims, property damage claims, and personal and advertising injury claims that may put your business at risk. General liability insurance helps protect your business from costs related to customer injuries, damage to others’ property, and lawsuits. This insurance coverage can also help pay for medical expenses and legal costs if an incident leads to a lawsuit.
Commercial Liability Insurance from The Hartford provides some of the broadest insurance coverage for your Mississippi business. General Liability Insurance is included in a Business Owner’s Policy, but it also available as a stand-alone coverage.
Commercial Liability Insurance can help cover the costs related to claims of:
- Damage to rented property. If you rent property and it’s damaged by lightning, fire, an explosion, or any other covered incident.
- Advertising errors. Claims of copyright infringement in your business’s advertisements.
- Reputational harm. Claims of libel, slander, wrongful eviction, malicious prosecution, violation of the right of privacy, and more.
- Medical payments. Helps cover medical costs if someone gets injured at your business.
- Bodily injury. Claims that your business caused bodily harm or damaged someone’s property.
Mississippi Minimum Business Insurance Requirements
Mississippi requires all employers with at least five employees to purchase workers’ compensation insurance. Workers comp insurance covers employment-related injuries and illnesses regardless of fault, but can also prohibit you from filing a lawsuit against your employer for additional damages. Workers’ comp covers most working Mississippians, but there are exceptions, including domestic workers and independent contractors.3 The Mississippi Insurance Department provides updates for insurance producers, individuals, and business entities.
Additional Mississippi Business Insurance Links
- Commercial Auto Insurance
- Business Income Insurance
- Commercial Flood Insurance
- Commercial Property Insurance
- Commercial Umbrella Insurance
- Management & Professional Liability
- Surety & Fidelity Bonds
- Home-Based Business Insurance
- Employment Practices Liability
- Risk Engineering
- Loss Sensitive (Deductible) Solutions
Get a quote on Small Business Insurance for your business today.