Frequently Asked Questions About
Commercial General Liability Insurance
How much does commercial insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number.
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it.
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Small Business Health Insurance Pennsylvania
Small Business Health Insurance Pennsylvania. With the new health care reform act, or Affordable Care Act, finding health insurance for your small business is now a priority. Small business owners still remains a challenge for the small business niche, but there are several options out there for small business health insurance Pennsylvania coverage that meets your budget and serves you and your employees well.
There are around 6 million small business operating in the United States. Around 21.7 million people are classified as “self-employed.” However, companies with one to nine workers paid 18 percent more for health insurance premiums than companies with 1,000 workers or more.
Offering small business health insurance Pennsylvania is a way to help you recruit and retain top talent. A benefits package that includes top-notch PA health insurance is seen as a premium to would-be employees.
Working with an professional agent within is a good step towards finding the right group health insurance for your small business' needs. Group health insurance is sometimes challenging to understand, which is why working with a seasoned agent makes a lot of sense. An agent can help you navigate the increasingly cluttered health insurance marketplace to make an informed decision about what’s right for you. By comparing the various policies that are available and getting quotes from multiple companies, your business can make a smart decision about its small business health insurance Pennsylvania coverage and find the reliable policies for you and your employees.
Statistics on Small Business
Small business health insurance premiums have risen around 113 percent over the course of the past decade.
Around 49 percent of small businesses that employ 10 workers or less provide health insurance coverage for their employees.
Around 96 percent of businesses in the United States employ 50 people or less.
Small businesses are responsible for creating around three-fourths of the new jobs in the U.S. economy.
Should Your PA Business Offers Small Business Health Insurance?
TMany PA small businesses do not offer small business health insurance Pennsylvania, due to the exorbitant costs they face. However, offering this benefit to employees has its advantages, and some of them cannot be overlooked.
PA Health insurance provides protection for your biggest asset: your employees. With health insurance in place, you and your employees can access healthcare at a discount. If health insurance is not in place, the medical costs can be cost prohibitive, leading those who cannot afford insurance to avoid seeing a doctor. In short, health insurance protects your employees and your business from the cost of sudden sickness and accidents.
Small business health insurance Pennsylvania is a form of protection for your business. It pays the medical costs you incur when you are sick. These costs can reach extremely high levels if a major illness or accident befalls you or your employees. In the case of health insurance that offers a reasonable amount that you must pay out of pocket, it helps you avoid using your personal assets to pay for care.
If your business can afford to offer coverage, it is a big perk to employees who might otherwise have to purchase it on their own. Nonetheless, you shouldn’t offer it if you can’t afford, unless it is to be compliant with the new ACA.
How Do You Buy Small Business Health Insurance Pennsylvania?
As the owner of a PA small business, it may fall on your shoulders to find the right affordable small business health insurance Pennsylvania for your employees and to provide the coverage that they need. When you offer health insurance, you agree to pay for a portion of the cost of that insurance, while the employee’s part of the premium is generally taken as a payroll deduction. You may also be responsible for paying a portion of any premiums for the employee’s dependents.
Most employers pay at least half of the premium rate for their employees. Although it varies based on your location and the number of people you have working for you that require insurance, you may choose to offer individual coverage or coverage for the employee’s family. If your business has a small number of workers, then you may opt for just a family plan if group coverage is not within reach financially.
Choosing a Small Business Health Insurance Pennsylvania Policy
There are four main types of small business health insurance Pennsylvania for your business to choose from, including PPO plans, HMO plans, HSA-eligible plans, and indemnity plans. Selecting the right plan is more of a personal decision based on the budget you have and the level of coverage you wish to purchase. Your insurance agent can help you review the plans available to you and your employees to find the right fit for your business.
Some PA health insurance plans do not provide coverage for dental benefits, so this might be a separate offering for your employees. Sometimes this is offered as a standalone policy and is another perk your employees can appreciate.
How to Find Budget-Friendly Small Business Health Insurance
Although it is possible for employers to shop online for coverage and make their own comparisons of health plans available, the changes wrought by the Affordable Care Act in 2014 make it a complicated matter. A knowledgeable agent can help you weigh your choices and make the most informed decision, which makes working with an agent a savvy business move that can save your business big while also helping you find the right coverage.
Pennsylvania Economic Business Outlook & Commercial Insurance Requirements
While you might have a fantastic idea for a business, if you aren't setting up shop in the right PA location, there's a good chance that you won't see the success that you hope to achieve. With that said, it's important that you have an understanding of the economic status of the state that you are thinking about doing business in. It's also important for you to know what type of rules and regulations regarding insurance are in place in that state.
If you are thinking about doing business in the Commonwealth of Pennsylvania, keep on reading to find out some valuable information that you can use to make the best choices for your operation.
Pennsylvania's Economy Now And Into The Future
In terms of the economy, Pennsylvania's future looks pretty bright. It boasts the sixth largest economy in the United States. It is also home to some of the largest private and public organizations in the nation, as per sales.
The job market is expected to see steady growth in Pennsylvania during the 2019 calendar year. That rate is expected to be 1 percent, which is a marked increase from previous years. This is largely due to the high pool of educated laborers that reside in the state. Currently the unemployment rate is 4.9 percent, which is on-par with the rest of the nation. It is believed that the unemployment rate will continue to drop as more jobs are added.
For business owners, there are several industries that will afford success. The food products industry, particularly related to agriculture, contributes largely to the state's economy. This is expected to continue moving forward throughout the 2019 calendar year. Other industries that are forecasted to see growth include:
- Printing & Publishing
If you are thinking about doing business in PA, working in one of these industries will likely afford you success.
Insurance Requirements For Businesses In Pennsylvania
The Pennsylvania Insurance Department regulates insurance in PA. Business owners are legally required to carry workers compensation insurance. This type of coverage is a must for any business that employs any W2 part-time or full-time employees, and for employees that are either hourly or salaried. You must also carry PA commercial auto insurance if you plan on using a vehicle to conduct anything related to your business.
While commercial liability insurance is not required in Pennsylvania, it is still a wise idea to invest in. This type of coverage will protect you from the cost of any lawsuits that could potentially arise.
Additional Resources For Commercial Property Insurance
Read up on small business commercial property insurance, including how business property insurance protects your company's building's and/or their contents from damage, destruction, theft and vandalism.
- Apartment Building
- Business Interruption
- Commercial Flood Insurance
- Commercial Property
- Condo Association
- Equipment Breakdown Protection Insurance
- Homeowners Association Insurance
- Inland Marine
- Mobile Home Park
- Non-Residential Building Operators
- Shopping Center & Strip Mall
- Vacant Land
- Vacant Property
Rental property owners, real estate developers and property managers should keep an accurate survey of each property they own or that is in their care. This survey should include inventories of furnishings and equipment at those properties. These documents establish the extent of their insurable interest, facilitate the arrangement and placement of insurance and minimize controversy and confusion if a loss occurs.
Insurance coverage on property, general liability and professional or errors and omissions liability should be arranged and placed for every real estate and rental property risk.
The main goal of any commercial property insurance program is to protect the insured's real and business personal property. Buildings and their contents property usually represents a significant portion of its total assets, regardless of the size of the business. A commercial property program can provide the coverage you need if a loss should occur.
The ISO Commercial Property Building and Personal Property Coverage Form is an insurance industry standard that provides this needed coverage. As a result, it should always be reviewed and used as a benchmark for comparison when evaluating any commercial property coverage form.
This policy treats business personal property as more than just the contents of a building. When there is a limit of insurance on the declarations, property can be covered if inside the building or structure or within 100 feet of the building or premises and either in the open, or even in or on a vehicle.
There are many endorsements available to tailor the ISO Commercial Property Coverage Forms. Some are mandatory for all policies while others are mandatory for specific classifications and types of business. Others are optional and permit a standard form to be customized to meet a specific risk's coverage needs. Endorsements broaden, restrict, delete, modify, or add coverage.
These policies can provide the following additional coverages for small specific limits of insurance: debris removal, preservation of property, fire department service charge, pollutant clean up and removal, increased cost of construction and electronic data.
Request a free Small Business Health Insurance Pennsylvania quote in Aliquippa, Allentown, Altoona, Ambridge, Baldwin, Beaver Falls, Bellevue, Berwick, Bethel Park, Bethlehem, Bloomsburg town, Bradford, Brentwood, Bristol, Brookhaven, Butler, Camp Hill, Canonsburg, Carbondale, Carlisle, Carnegie, Castle Shannon, Chambersburg, Chester, Coatesville, Collingdale, Columbia, Connellsville, Conshohocken, Darby, Dormont, Downingtown, Doylestown, DuBois, Dunmore, East Stroudsburg, Easton, Economy, Elizabethtown, Ellwood, Emmaus, Ephrata, Erie, Franklin Park, Gettysburg, Glenolden, Greensburg, Grove, Hanover, Harrisburg, Hatboro, Hazleton, Hermitage, Huntingdon, Indiana, Jeannette, Jefferson Hills, Johnstown, Kingston, Lancaster, Lansdale, Lansdowne, Latrobe, Lebanon, Lewistown, Lititz, Lock Haven, Lower Burrell, McKeesport, Meadville, Mechanicsburg, Middletown, Millersville, Milton, Monessen, Monroeville, Morrisville, Mount Joy, Munhall, Murrysville, Nanticoke, New Castle, New Cumberland, New Kensington, Norristown, Northampton, Oil, Old Forge, Palmyra, Perkasie, Philadelphia, Phoenixville, Pittsburgh, Pittston, Pleasant Hills, Plum, Pottstown, Pottsville, Quakertown, Reading, Ridley Park, Scranton, Shamokin, Sharon, St. Marys, State College, Sunbury, Swissvale, Tamaqua, Uniontown, Warren, Washington, Waynesboro, West Chester, West Mifflin, White Oak, Whitehall, Wilkes-Barre, Wilkinsburg, Williamsport, Wilson, Wyomissing, Yeadon, York and all other cities in PA - The Keystone State.
Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Fireman's, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, LLoyd's of London, Markel, MSA, Nationwide, Penn America, Philadelphia, Prime, Progressive, Scottsdale, The Hartford, Travelers, USLI, Utica First, Western World, Zurich & others.