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What Kinds of Insurance Do Business Owners Need?

July 14, 2022

If you own a business in Maine, New Hampshire, Vermont, New York, or Massachusetts, it’s crucial to have the right insurance policies. Being fully covered will ensure that you are not personally or financially liable for damages in the event of an accident or injury on your business property. Insurance can also protect you if an employee, former employee, contract worker, or vendor sues your company. Additionally, without the appropriate insurance, you could be in violation of state law and subject to fines or prosecution. At Hull Maynard Hersey, we can guide you through every step of the process of obtaining the necessary business insurance to protect you and your company. 

Why You Need Business Insurance

Purchasing the right business insurance in Vermont, New Hampshire, New York, Massachusetts, or Maine will protect you from financial liability, personal liability, and damages due to accidents and injuries, property damage, theft, fire, fraud, and more. Business insurance also protects you should a lawsuit be brought on by a customer, employee, contract worker, or vendor. Without the necessary insurance, your business is in danger of going bankrupt after one financial catastrophe. Not only are some types of insurance required by state law to operate a business, but business insurance also protects you personally, and protects your company financially, if something goes wrong.  

Types of Business Insurance

At Hull Maynard Hersey, we are committed to protecting our clients in any and every way we can. We will evaluate your business’ potential liabilities or areas of vulnerability and recommend the appropriate level of business insurance for your needs. The three primary types of business insurance we believe every business owner in Maine, New Hampshire, Vermont, New York, or Massachusetts should have are commercial property insurance, general liability insurance, and workers’ compensation insurance. 

Commercial Property Insurance

Commercial property insurance covers any type of damage or problem you may have at your business location. This includes property damage, vandalism, theft, fire, and damage due to inclement weather or malfeasance. Without commercial property insurance, you are financially liable for this damage. And depending upon the type of corporation, LLC, or trademark your business has, you may also be personally liable as the owner of the business. If you don’t own the building at which you do business, our agents at Hull Maynard Hersey Insurance can also set you up with a comprehensive commercial renters’ insurance policy that will make sure you’re covered.

General Liability Insurance

General liability insurance provides blanket coverage for any property damages, accidents or injuries, or claims for financial damages that may occur at your commercial property or due to your business practices. This includes injuries to visitors, contractors, vendors, or anyone else who is not an employee. This also includes property damage should there be an accident onsite. This also includes financial damages you may otherwise be liable for if you are sued by an angry customer. Hull Maynard Hersey Insurance can get you the right level of general liability insurance to get you a quick recovery should any of these scenarios come into play.

Workers’ Compensation Insurance

Workers’ compensation insurance coverage is required by law for business owners in every state except Texas. At Hull Maynard Hersey Insurance, we can find the right workers’ compensation insurance plan for your specific business needs. Workers’ compensation insurance covers any on the job accidents that result in injury to your employees, if the accident occurred during their normal course of business and was not the result of the employee ignoring safety regulations or proper protocol. If your employee files a workers’ compensation claim, you are required to pay for their medical expenses, including doctors’ visits, hospital stays, medications, rehabilitation, and more. We can help you determine exactly what coverage you need to protect your business. 

How to Choose the Right Policies for Your Business

At Hull Maynard Hersey Insurance, we don’t believe in “one size fits all” insurance policies. Our experienced agents will carefully evaluate your business to determine how to best protect you from any issues that may arise. We have decades of experience in the insurance industry, and we walk our clients through every step of the process in evaluating and choosing the right insurance policies so that you can make an informed decision. 

Why Choose Us for Your Business Insurance Needs?

At Hull Maynard Hersey Insurance, our mission is to provide dedicated customer service that allows our clients to feel comfortable and confident purchasing any type of insurance they need. We offer a wide range of insurance types and our friendly agents are ready to help you explore your business insurance options in ME, NH, VT NY, or MA. Our commitment to personalized customer service means that as a client of Hull Maynard Hersey, you will feel seen and heard, and we will make sure you understand exactly what insurance will benefit you and your business, and why. We don’t want any of our clients purchasing insurance they aren’t sure that they’ll need, just because they don’t fully understand the process. 

Our Services 

We specialize in both personal and commercial insurance, including home, auto, life, commercial property, general liability, workers’ compensation, and umbrella insurance. Because we are independent insurance agents, we represent several national and regional carriers, including Safeco Insurance and The Travelers. We believe that our clients should have the best choices for their insurance needs, which means offering an array of competitive carrier options from which you can choose. To learn more about any one of our insurance policies offered, click one of the links below.

Call Us at Hull Maynard Hersey Insurance for a Free Quote

Our experienced staff is standing by to provide you with a free quote for business insurance. When you request a quote for any insurance policy through us, we can provide a variety of options from different carriers, so you get the best possible rate on your coverage. 

We won’t try to pair you with a one-size-fits-all policy. We’ll help you explore your options for your insurance coverage. Call our Rutland office at (802) 773-3000 or our Woodstock office at (802) 457-4143, or request a quote online

Jill Maynard Nolan is the president of Hull Maynard Hersey Insurance. Jill has been in the insurance industry since 1991, following in her father’s footsteps - Hull Maynard. Jill and her team is dedicated to provide the customer service you need to feel comfortable and confident purchasing any type of insurance you might need.

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